How to save your money in your day to day activities?

Well when it comes to saving money, it involves lots of self-control. Here I have some tips from my personal experience.

• Prioritise your expense ( when we do it, we will automatically exclude least priority ones)
• Have a record of daily expenses incurred.
• Spend on what you need than what you want.
• Invest money / put aside a part of your salary into an account separate from the ones you use regularly. Make a strong decision not to use those unless you need it badly.
• Get insurance on your costly products which covers damage and theft. It will save your pocket from big outflow of cash.
• Avoid using credit cards. It will tempt you to spend more. ( I personally don’t hold any credit cards and if you hold any, use it only in need) .
• Avoid buying similar products , when all the same serve the same purpose. Get only one that serves your needs.( Example: Earphones, We see many people having 3 pairs )
• Check for a permanent solution for your expense rather than temporary ones . Your small penny of expenses per day may pile up when you consolidate at the end. ( Eg. Instead of having food outside regularly, get a maid or cook yourself).
• Don’t go for lavish products when your not in a condition to maintain the same . ( Eg. Getting a car on loan and later struggling for paying EMIs)
• Learn to respect money and spend wisely , because at the end of the day, it’s your own hard earned money.

During this Quarantine period, it is very important to spend your money wisely. One wrong step may land you in financial trouble. Hope one of the above tips may be useful to you guys.

Thank you for reading.

Directionless writings by Avinash Reddy.