Are not you able to save money in any way? Are you working hard but still didn’t able to save money? Actually, this problem is not just yours. There are many people in such a problem. Such a problem arises because we spend our money without thinking.

We make such a lot of decisions in our lives due to which our money is wasted. But if we look closely at all these decisions, then we can save a lot of money from being wasted.

Collecting money is an art. If you learn this art once, then many problems of your life will be solved. But if you do not learn this art, you will never be able to invest any money and become rich even as much money you earn. So do not waste all the time and know how to save money.

20 Smart Ways To Save Money

1. Create a Balance Sheet

To save money, first you have to keep your mind fresh, and you will have to maintain a monthly balance sheet in which area you spend. American Management Consultant Peter Drucker has said that if you can not measure, you can not control. You should make a balance sheet for the entire month at the beginning of the month and follow it accordingly. Do not spend too much. If you need to pay in a particular area, then reduce spending in your second area.

2. Stop Retail Shopping

Buying a few things costs a lot more. Therefore, you should check that whenever you buy something, then buy it together for a full week. So, when you stop retail shopping, sometimes it gives you a discount and the price also decreases.

3. Use Piggy Bank

Usually, we do not give our chiller money as much importance. But if we deposit that money to any piggy bank, we will be able to collect a good amount at the end of the month or year. By which we can fulfill our many wishes, and this will also help us a lot. So keep the remaining money left at the end of the day’s purchase and save them in Piggy Bank.

4. Do Shopping Over Online

Before buying something in offline, find out the rate of something in your local shops and then buy it. If the shop is in a little distance, then try to make a little bit of trouble as it is your responsibility in this thing. Nowadays the online shopping market is running. There is nothing that can not be found online and that too with a good cash back. So some things you can buy online. Before purchasing something, visit the different shopping websites and see where the price of that item is low and buy it from the same. You can save a lot of money by doing this.

5. Open a Deposit Account

Keep deposit accounts open with your saving accounts. Link the deposit account with your savings accounts in the bank and make a fixed-fixed there. Withdrawing your money every month will also result in the automatic deposit of funds in your account. It will be saving every month, and it can be the best way to save money, especially for those who are employed.

6. Stop Purchasing Unneccesory Goods

Many people have something and repurchase the same thing. If you have a habit of buying such stuff, leave it today. For Boys, there is no special day for buying more than one wallet, belt, bracelet and dress for girls, earrings, shoes etc. Nothing more than needed is good. Yes, if you do not have anything and then you buy those things, then that is fine. But even if you have the same things two or three, if you repurchase the same thing, then there is nothing other than the extra cost. You have to be cautious about it. This is also a great way to save your money

7. Reduce Driving Habits

When the price of something increases once, it is severe to lower the cost of that item. Even if its price is low, then the quantity in which the rate has raised is very difficult to calculate. Dies of petrol and diesel are growing day by day. In this, if you reduce your driving habit, you can save a little bit of money. Like if you use a bike for a distance of one kilometer away from your home market. If you use bicycles instead of a motorcycle or a car, you can save a lot of money.

Also see: 10 Popular Types of Money Market Instruments

8. Buy Used Product

There are some websites where the used products are available. There is a lot of merchandise available at low prices from there. Never buy clothes used on those websites. Yes, you can buy products such as electronics or furniture at an excellent price from there. You will find many online sites to buy used products.

9. Learn to Bargain

Bargaining is another excellent way to save money for you. A lot of people do not like to negotiate while buying any stuff. There are also many people who feel like an insult to bargaining, But this thing is wrong. Whenever you buy some products in the street side market, shopkeepers often sell their products at double prices. So in that place, you need to make proper bargaining very much. Doing this can save you a lot of good money.

10. Avoid using Restuarant

For party and entertainment, we spend a lot of money on the same day in the restaurant. I am not saying that you stop the party. I’m just saying that the party should be given at home. This can save you a lot of extra money. Apart from this, eating such expensive food can enjoy a good party at the same price at home. There is no need to take your girlfriends or boyfriends into a fancy restaurant. You can also have a meal or party at a street hotel. Doing so can save you a lot of money.

11. Don’t Copy Others

Many of us have a habit of doing the same as someone else is doing. Even so, we immerse a lot of money in such a way to do good to others. This may be harmful to you. Yes, learning something from others is a good thing, but an exact copy is a nasty habit. So if your neighbor spends too much and you try to look like him, then you can lose a lot of money. Therefore, you can spend your money according to your needs after you reach a good financial position.

12. Always Try To Use Cash

You might be thinking that why I am speaking to use cash online instead of online payment, debit card, credit card because we have an emotional attachment with money that does not remain with online payment, debit card or credit card. If you make a cash payment at a time before purchasing something, you will not have any problem if you pay for it by swiping online or card. You will find that the card is swiping less money. So, please make sure that you spend as much cash as possible. Payment of money by pocket money pays for a long time.

13. Note Down Your Spending

If you want to save more money, then this tip is beneficial for you. Take some time to look at your past spending and keep track that how much you’re spending your money. See where your money is going? Where are you spending money most? How much you’re currently spending on groceries and others? It can surprise you, and this is your chance to bring awareness to this area. After noticing, create a budget on those areas which you’re paying most, and spend as much as you need.

14. Cancel Immediately Unnecessary Subscription

My 14th  money saving tip is canceling Unnecessary Subscription. Unnecessary subscription can eat your money a lot. So you have to think about what kind of subscription you have taken that is not of your work. Finding additional subscriptions is very easy because we make a subscription for entertainment and some other things but never even we use it. So it becomes essential for you to cancel their those subscriptions immediately.

15. Always Search for Coupon Codes

I can’t tell you how many times you can save money by using this useful way. Never checkout without googling for a unique promo code first because I know that there are so many promos and coupon codes out there. For example, when hosting renewal has come for this website, I searched for a promo code, and I get a promo code for my renewal. You don’t believe me that my renewal price goes on half. So, I want to suggest you that before going to check out at online, search for any unique coupon code.

16. Shop with Ebates For Cashback

Cashback can save you a lot of money. Yes, you can get up to 15% cashback when you purchase online through the site of Ebates. If you don’t know what Ebates is, then let me tell you that it’s the largest cashback website which is the partner with more than 2500 popular brands like Amazon, Addidas, Coursera, etc. to bring you cashback, coupons, and promo codes, all for free. It gives you some reward for shopping at the place that you would normally already buy at. If you’re using Google Chrome, then you can also add their extension to your computer. With the help of their Ebates extension, a cashback notification get pop-up when you go for purchase.

17. Make Some Emergency Fund

Emergency funds can be quite profitable for your hard times. We spend so much time in our daily life and become so crazy about fulfilling our needs that it is a mistake to deposit money for our difficult times. Emergency Fund is a great way to save money. Emergency Funds gives you tremendous help in the time you need it. So, you should try to keep depositing some Emergency Fund with your salary from time to time so that when you need money, you can use that Emergency Fund.

18. Use Free Instead of Buying

There are some things that you can do without buying it, but you can use those things for free. Yes, this can prove to be a great money saving tip for you if you want to save your money because I do this to keep my own money. For example, if you are in college, then you can read the same book from the library by not buying a book. In the same way, there are many things that you can use without purchasing anything else. Use free stuff as much as possible and reduce your extra expenses.

Also see: 10 Best Investment Options in India

19. Get the Advantages of Sales

Sales is also a very successful way to save money. Yes, as you know, whenever a festival comes, big brands bring their products to the Sale. There are plenty of shops or online stores where you have given 30%, 50% even up to 60% discount. So at those time, you can save your money by purchasing your necessities. For this, you have to wait for those festivals or those dates. Whenever you find such a sales or offer, then buy the goods needed at that time.

20. Focus On Earning Not Saving

If you start saving money for purchasing your essential stuff by reducing your expenses, then it is a great thing. But after a particular time, the earning of costs is not possible. See, the more you think about saving money you will have less money because at that time you think about saving money and not earning. So think about earning more than saving money. So if you focus more on earning instead of saving, then you will be able to save much money and will soon buy your favorite item.

Last Words On How To Save Money

You must have heard about “The desire is achieved only by the Way.” So if you want you can save a lot of money for yourself. All you have to do is follow these 20 Smart Ideas given. Every person should try to save money as much as possible. It shouldn’t be that you have more money then you are spending your all extra cash. If you have more money than do charity rather than spending extra money.

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My name is Manoj Prasad and I am the founder of this website( I always love to learn new things through different sources and whenever I get time, I shared those new things with my friends, family and with you.

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