Tips to Manage your cash – Tips to save money.

Money makes all our worlds go round. It is certainly is undisputable. This said let us simply get to certain simple and clean facts. Most of us struggle in the management of money while we all judge the ones that are actually stingy. Both ends of the spectrum are a pain, you don’t want to wind up being lavish neither would you want to be labeled stingy. It’s the balance which we all strive towards and desperately hope. We are inching closer to stay comfortable with our finances till the fag end of the end; a bonus will be to actually stash away all the surplus. Well saving money need not be as utopian as it sounds, take a look at a few simple tips you can follow. Make your mind up first to save money and the rest will fall in place with our tips to save money.

Here are a few tips to save your money.

  • Start with making a list of all your expenses for the month – the necessary ones for the household the children, our outings, gifts to yourself or your kids or a party. Simply jot them all down.
  • You will notice a pattern in terms of expenses that will reoccur- there will certainly be a category of expenses that are not avoidable which are simply needed to run the household and a category of those which can be avoided. Slowly assess the expenses which can be avoided and tick them off your list one by one.
  • Avoid using a credit card as far as possible, try and shop only during discount sales and offers. Keep your eyes open for deals that can be found online.
  • Never forget to pay your bills, avoid any additional interest or penalty which may be charged. Be judicious with all your payables and never postpone dues.
  • Before you head out to shop always make a list of what you need, head to the store and buy your stuff. Do not dilly-dally on window shopping.
  • Reduce food wastage within the household, cook prudently and ensure that any excess forward is carried forward. Make interesting meals on weekends involve kids and spouse, saving your wallets from fat bills on fine dining.
  • Try and first transfer a fixed amount of money to a particular amount every month and manage expenses with the rest of the money. It may a little difficult in the beginning. But you will soon see that you become comfortable with a limited supply of cash!
  • Save on fuel expenses, try and carpool with colleagues to work or use public transport if it suits your work timing.
  • Track your expenses at all times. Always keep a pocketbook for any additional unplanned expense that happens and ensures you carry out an audit at the end of the month.
  • Keep a target, start putting away money bit by bit and watch how much your progress month on month. The greater you save more the motivation to save more.
  • Finally, educate yourself about finances, watch your savings and devise methods to multiply them.

Always remember your money is within your hands, you should learn to exercise control over it. Saving money becomes a habit, you just have to put your mind to start the action!