Money

10 smart money-saving tips to know this year

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Eliminate any debts – This is a significant factor as having debts on your head shall never permit your pocket to save. Clearing off any pertaining debts is the first step to saving money.

Prepare a monthly budget – Prepare a list of necessities to get through the month without including any unnecessary lavish expenditures. Unnecessary spendings will slowly erode away your pocket, and by sticking to a budget, you are less likely to make sudden purchases.

Save money on groceries – Spending on groceries is indeed a necessity. However, you need to manage this necessity to make the most of it and to help stick to your budget. Prepare a list of your needs and what all you already have so you don’t go on a shopping spree.

Shop online – Always check out online shopping sites while purchasing within any domain as the products are relatively cheaper than the market and have assured quality tags as well.

Avoid “Buy 2 – Get 1 free” type offers – These offers may seem tempting at first, but if you think about it, you are actually making a purchase without considering its actual value. You would soon come to the conclusion that you are spending twice the amount for something you did not need in excess.

Book Travel, Flights, and Hotels online –  Instead of consulting a tour planner, one can get their hands on some of the best money-saving deals online. This not only is significantly convenient since you are free to choose commute, stay and tourist spots according to your interests but also may help you save more money.

Open a savings account – Opening a savings account with a higher rate of interest will aid in your monetary savings and keep your expenditures under check. This would help you manage your money easily.

Make use of credit and debit card offers Making full use of credit and debit card cashback offers that would save you money in the long run.

Avoid postpaid plans – Mobile postpaid plans may seem convincing and offer you additional perks but taking a detailed approach towards this scenario will make you realise that these offers charge a hefty amount of money in exchange for services that are not really needed.

Avoid food wastage – Always prepare food corresponding to the amount you would consume. Finish your leftovers or store them well instead of buying new products. Plan out your meals for the week to avoid buying food items that you would not be able to finish.

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