10 Best ways to save money.

10 Best ways to save money

Most of us want to save money (Having bigger bank balance) but no one wants to compromise on their life to save money. We have listed down 10 Best ways to save money and reduce your spending without altering your life style (wherever possible).

1. Don’t keep too much cash.

Having too much cash in hand never helps. Only keep the limited cash(consider emergency funds) at home and move your money to ANY OTHER INVESTMENT. Cash doesn’t appreciate in our safes.

2. Keep track of your spending.

Once you start reviewing your expenses you would identify unnecessary expenses that you make and will be wary of such expenses in future. One easy way to review your spending is to pay everything from one credit card and review it’s monthly statement before paying bill.

3. Switch to low interest rates on home loan.

After taking home loan, we only keep two things in our mind, Monthly installments (EMI) and tenure. Interest rates have fallen almost everywhere. Go and check with your bank or it’s competitors to fine latest rate of interest and get it reduced. Switch your loan to another bank if required to reduce interest rates. Please check bank’s processing fees, loan tenure left etc before making this decision. Switching might not be the best option always.

4. Talk to people who are good with money.

You don’t handle money that well? Find friends who are good at it. You will start leaning tips from them.

5. Move money from saving accounts to Fixed deposits.

This is no brainier. Saving accounts give less interest rates than bank accounts so just move your surplus money to fixed deposits. Depositing money in Fixed deposits (FD) and breaking FDs are possible from Bank’s website online.

6. Pay your bills by credit cards and earn rewards.

Most credit card companies give you cash back or reward points on bill payments. It may not be huge but you don’t have to make any additional effort for this, may be once in 2 years, you will be able to pay your bill with reward points.

7. Shop Online.

Everyone knows that buying stuff online is cheaper but some of us are still afraid of making big purchases online like buying washing Machines or LED. Checkout the products at store, finalize it and buy online.

8 Focus on NEED and not on WANT.

For most people buying an Ipad is desire not need. Provided everyone has a smart phone and computer. If you are tight on budget, buy only what you need.

9. Car pooling.

This is a life style change? Please do it if possible, it will save a lot of money in your pocket, save earth from pollution and roads from traffic.

10. Stay healthy.

Again life style change but THIS you have to do anyway. Stay healthy. It will reduce medical bills.


Let us know if you like our ideas or if you have any other good idea apart from these 10 Best ways to save money.

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