Nowadays everyone wants to get retire at an early age and travel the world without any financial issues. But how can we achieve this financial freedom? How is it possible to retire at the age of 35 or 40?
Well. Let's find this out in this blog.
To start with We have to save our money, now everyone will start saying that no man we are students, we don't have enough salary, I have so many expenses. What to do Sky?
In this blog, I am sharing with you 6 practical ways to save your money.
1. Budget with Cash using Covers or Envelopes - When you have received your salary, withdraw the cash and divide them into different envelopes. For E.g Envelop 1 is for Fruits and Vegetables, Envelop -2 is for rent, and so on.
This will not mess up your money and you can decide what amount to keep aside.
2. Start automatic saving -
Now you will be thinking that how to save automatically? So you can start any SIP plan or you can say as a mutual fund where your money will be deducted automatically from the bank account and invested in any specific fund every month. So here, you are investing and saving your money at the same time. You can start SIP using GROWW APP.
\3. Use Discount Coupons -
Nowadays, there are so many apps that provide you discount coupons and cashback for specific purchases and shopping. If you are a regular customer of some outlets like Reliance Trends, Max, Lifestyle, etc then you must receive coupons from them. So those coupons can save you thousands of rupees sometimes. There is an app called Nearbuy
4. Always use cash while shopping -
Limited cash means a limited budget, and a limited budget means no spontaneous shopping. When you have limited cash then you will not buy any useless products. And this will help you track your expenses on shopping as well.
5. Always buy authentic -
We all are fond of Brands, but just for showing off to others many of us buy the cheap and inauthentic products of those brands i.e. First copies of Shoes, duplicate smart watches, etc. But these cheap items no last longer and we have to purchase the same product once again. Instead of having multiple cheap and short durable shoes, it's better to have one authentic branded Shoe. If you don't have enough money, save it. Buy a base product but buy authentic. Fir toh log notice karenge hi!
6. Take water and food with you while going to the Office or College -
This is one of the most underrated steps that everyone should know while we are discussing saving money. A water bottle costs approximately 10 rs minimum, let's say you go to college 20 days a month, so the calculation will be 20 x 10 = 200 rs and if we add food at 50 rs per day then it will be 50 x 20 = 1000Rs . So the total money spent in college is a minimum of 1200 Rs a month. If you spend more then you know if you know.
So here are the 6 steps to save money, I hope it will help. Do comment if you know of any other ways to save money.
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