You may hear people asking ‘will you take your money along to the grave’? But let us accept it, it is equally important to save money as it is to spend it. No matter what you do and how much you earn, there may be times of emergency when you are in urgent need of fund or may be for your future plans, savings are really important.
Below are some tips that will definitely help you save money and fulfill your needs and dreams in the future, make sure you follow these:
1. Note down your expenses. From buying a soap to television, you must know where exactly you are spending, to be able to cut them.
2. Focus on your health and cut down what you feel is deteriorating it. It can be ciggerates, alcohol, junk food or whatever.
3. Do not go out unnecessarily. While you go out to a mall, you may feel like you are required to buy anything but it is just your desire and not need.
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4. Make a list of the purposes you wish to fulfil with your savings. Read these once or twice a day. Trust me, it will keep you motivated to spend less.
5. Invest in both short term and long term projects such as mutual funds , share or debentures that give you good return. But make sure you have adequate knowledge about it first.