In this very blog, we will be looking at a few tips on how to save money from salary each month. Now, for most of us, it has now become a task to save some portion of the salary because of the inflation and the types of services we have availed to make our lives better. A normal person is too busy in day to day activities that he/she can’t even think about various salary saving ideas that can really help. But don’t worry, if you have taken your free time to search for the ideas, then we make sure you get them from here.
We have listed a few tips on how to save money from salary each month that anybody can apply easily. These following tips are proved to be effective and are given by many financial experts from around the corner. If you are really concerned about the savings and have now determined to start saving by any means, then you are required to follow these tips and we promise you that you’ll be able to save money each month.
Prepaid sim
Yes, prepaid sims are always a better idea to switch from your regular postpaid plans. You will be surprised to see how you have saved money from your salary each month when you use a prepaid sim. They will save you from extra unwanted charges that you dealing with your current postpaid plan. You won’t believe! Just compare the plans and then come back here.
Shopping list
It is ideal to prepare a shopping list before going for shopping. It will help you to map the price of all the items and you will then be aware of what exactly you are going to pay on your grocery or other shopping. We have listed it as a tip on how to save money from salary each month because we have seen people saving some bucks with it. You can try it! It is very easy to do and there is no harm in doing it.
Monthly budget
Prepare a budget for the upcoming month by listing all the recurring expenses that you are going to pay the following month. Expenses like Rent, child’s education, travel, local living expenses, credit card bills, online shopping, utility bills, dining, insurance, and so on can be added to the list. Go through it thoroughly to check if you have missed any expense or not.
Avoid offers
If you are really serious on how to save money from salary each month, then we request you to stay away from these kind of offers such as buy 2 get 1 free, buy 1 get 1 free, and so on. These look good but has a bad impact on your salary. Only buy those things which you need the most to cope up with daily activities.
Enrolling for an investment plan
There are many market plans are available that offers significant returns. Since, you want to save money from salary each month, you can buy an investment plan or you can distribute your savings in various things like Fixed Deposits, PPF, Bonds, ELSS, Mutual Funds and Equity Market. Even though they possess a risk (may be small anyway), they still provide great returns on maturity.
