How should I save money ?

Many of them started with a lucrative career but after a while they find it difficult to generate enough surplus from their income. Different reasons can be attributed to it- a sudden increase in debt, high lifestyle, insufficient increase in salaries etc…

Whatever be the scenario, it's alw

ays important that one keeps generating a healthy savings to have enough money to cater to future requirements. Here are few steps one should take to ensure savings rate do not take a bigger hit

To make savings a habit, it is necessary to remember below points: 

Plan for all purchases.
Know what you need and what you want. Wants are the things which brings overspending in your finances.
While buying things try to negotiate. What is available in a mall may be available at an old shopping market but at a reduced cost. No harm in going there.
Fix time wise target for savings and follow it rigorously. Maintain a minimum saving rate of 10%- higher the better.

1.       Know what’s coming in and what’s going out 

2.     Save before you spend

3.      Stick to your budget

4.       Plan your expenses

5.      Take balanced Risk

6.      Start saving as early as possible with Systematic plans

7.      Don’t do much online shopping and discount stores

8.     Shop with a list

9.     Brands, do you need to flaunt them all the time? Also you can always pick them up when they have end of season sale and save big money

10. Walk, for your own and financial health:

 Best is invest some amount on your education or learning.

Two of my favorite quotes are: