The New Year 2016 is approaching fast and most of us would be thinking about the resolutions to be taken on the first day of the year. I’m sure the first thing to be on the top of our minds is to keep a check on our spending habits. But it’s easier said than done. We always find much enjoyment in being extravagant not realizing priorities and goals before us.
Honestly speaking, it is always a difficult task to take the first step but there is no full stop once you are determined enough to move in that direction. We do a lot of activities in our daily life, but we rarely dedicate enough attention towards saving money. In the following paragraphs some essential tips of saving money are given that readers can easily follow in their everyday lifestyle.
1) Budget: Make your own budget for each month. The process is simple identify, calculate and allocate. Always remember that nothing comes without cost in this world. Hence, you should always maintain a record of what you buy or spend. Once you get the idea, then save a few bucks for emergency fund every month so at the end of year, you have enough funds to buy stocks or invest in gold.
2) Bye-bye Bad Habits: You might smoke a lot, but to be blunt this is nothing but wastage of your hard-earned money. The same goes with Alcohol as well, occasionally you may indulge in drinking beer or vodka with your coolest buddies but don’t make it regular. Both smoking and drinking involve huge expenditure and are not good for health either.
3) Selection of Bank: Opening a bank account is the first step towards ensuring the safety of your money. There are several banks that offer good interest on deposit and charge no operational fees either; hence you should also open a saving account with such a bank at the earliest.
4) Gardening: Having a garden is more than a blissful feeling. It can be rewarding as well. I suggest you to plant some easy-to-grow vegetables including pumpkin, gourd, brinjal, tomatoes, spinach and potatoes. After a few months of proper plantation you will obtain a lot of fresh vegetables without any extra cost.
5) Residence: It is important to reside in locality where the cost of index is low. There are a lot of such localities or colonies in the US and other parts of the globe as well. This overall reduces your cost of living offering you a lot of money for saving and investment.
6) Be Inquisitive: Thanks to videos and online tutorials, learning new things is quite simple. Learn some simple DIY (do-it-yourself) steps at home such as fixing your computer virus, correcting electric problems and others. By learning these simple yet useful things you can actually be able to save a few dollars in case these problems arise in future.
7) Save Water and Electricity: Judicious use of water and electricity is important. This not only saves a lot of money but is also considered as the noble way towards doing something for the society to preserve electricity and water for future generations as well.
8) Avoid Shopping Malls: Many of us get fascinated with so many choices at departmental stores. But in order to save your money, my idea is to completely avoid going to malls. These stores encourage conspicuous consumption and may result in making lots of expenditure towards buying things which are not necessary.
9) Cleanliness: Many of us can actually stay absolutely hearty and fit by keeping ourselves clean and tidy. The basic step is to keep your hands clean and sanitized as far as practicable. This keeps you fit and healthy preventing you from making heavy medical expenses.
10) Home-Made Food: This New Year, you should resolve to eat homemade food only. It will not only keep you disease-free but also keep the harmful effects of fast food and other street foods at bay.