10 Smart Money Saving Tips
They say "Saving is Earning". Saving money is a good habit, but even if you try, you often fail doing so. You have life and health insurance for you and your family and thus you are content that you are secured for future. But what about your short term goals? Investing or buying insurance can only help you in future. Yes, you cannot earn extra money to fulfill your short term goals but can always save some. There are strategies which can help you to save few extra bucks. Don't neglect the fact that these little sum of extra money will add up to a large sum. Here are ten such tips which will help you do cost-cutting as well as save money.
1. Skip Too Many Grocery Trips
Does it happen with you, when you visit a grocery store to buy a milk packet; you end up buying other unnecessary things too? If this is how you do your grocery shopping then you will never be able to save a penny. So skip making too many grocery trips as, the more you visit there, the more you will spend. Rather you make a shopping list and be particular that you buy what you need and buy other useless things.
2. Make Your Own Cleaning Solutions
How much do you spend in buying the branded cleaning solutions? Of course you need them to keep your house dirt free and hygienic. But instead of spending a pound for purchasing theses costly stuffs, spend a penny to buy white vinegar, lemons, and baking soda and make your own cleaning solutions. These homemade cleaning solutions are god enough in dissolving dirt, soap scum, and hard water deposits.
3. Find Cheap Entertainment
You must learn to balance entertainment with stinginess. Going to movie theaters, buying pricey tickets, pop corns and cool drinks in a one go smashes up somewhere around 
500 to 1000. And if you do it more than thrice a month, imagine how much of your hard earned money gets absorbed in entertainment expenditures. How about taking your favorite movie on rent and watching it at home with family and friends.
4. Borrow Instead of Buying
A shiny new set of tools or the latest bestseller sounds like a solid investment, but many purchases only get a few uses before being tucked away to never again see the light of day. Borrowing items you won't use often saves you money in your overall budget. Share tools with neighbors, borrow a specialty cake pan from a friend, or head to the library for new books and magazines. Also remember, that sharing is caring, so don't only take advantage of your friends, you must share your things too. This will help the cycle of "give and take" to continue smoothly for years together besides helping to save money and get things for free.
5. Talk Less over Phones
Won't you agree with the fact that phones are not meant for gossiping. Talking less on phone or only about necessary things will not only save your time but also enough of your money. If your profession is such that you need to make several phone calls in a day, try opting for recharge offers, power plus which can help you to bring down the call rates. In case you are a very talkative person then you must never go for a post paid plan, if not at the end of every month the telecom companies will stick up with heavy telephone or mobile bill. It is advisable to use a prepaid plan and talk smartly.
6. Wait to Purchase
'I love shopping' is what your shopping habits reflect? Shopping for things you need is acceptable and economical, but buying items each time you get attracted to their colors, smell, and texture will result in excessive and unnecessary shopping. Whenever you feel the urge of buy a thing, you must wait at least for 24 hours before actually purchasing it. This will help you to know whether you still want the item or you might decide it's not worth the money. You must avoid being an impulsive buyer as it mostly results in empty wallet and regret.
7. Save Electricity
Save electricity and cut down your electric bill by more than 30 to 40 percent. You can always use the day light during the morning and afternoon hours as the sun always shines bright in India. During evening don't sit in dark room for reducing energy consumption, instead use the power saving lamps and tube lights. If you use computers, then set the monitor and hard drive into sleep mode so that it dims after 10 minutes of nonuse. This will cut down your electric bill in half and is also good for your computer's well-being.
8. Reduce Travelling Expenses
Does your company pays you travel allowance or has arranged some cab facility? If your answer is no, then don't let your basic salary go waste in funding your workday travelling cost. If you travel to work place by your own car, leave your car at home at least a few days a week, this will bring down the petrol cost. If it's feasible where you live, try commuting to office by bus or by other forms of public transportation. This will give you added reading and relaxation time. There are other options too like carpooling with your office buddies, riding your bike or walking.
9.
Limit Your Visit to Restaurants
Instead of eating in restaurants every single day, bring your lunch box to office from home as often as you can. You can try some online recipes and add some herbs and spice to get more affordable food without sacrificing flavor. In case you feel too busy during your workdays and find no time for cooking food, hire a professional cook. He won't charge you money so much but will provide you healthier food thrice a day at lower cost. So eat healthy and save money.
10. Embrace a Multi-Generational Home
Would you like to move back with your mom and dad? Think again as there is nothing absurd. Don't have negative feeling that it will freeze your freedom and liberty and drop this idea. Living with your parents will help you and your children to develop family bonding. On an economical sense, it will bring the living and housing cost which balloons up in an individual house. A shared house hold will have added advantage of back-up childcare, extra hands to help with household works, sharing expenses, and the savings that come from shopping and cooking in bulk.
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Zoher Doctor / Smart Money Inc.
Financial Planner
+91 9824063400
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Disclaimer
Information, charts or examples contained in this mail is for illustration and educational purposes only. It should not be considered as advice or an endorsement to purchase or sell any security or its financial instrument until you are well conversant and confident about the movement.
For indiviual guidance please write to me seperately at zoherdoctor@gmail.com
Visit Us at: www.smartmoneydirect.co.in
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