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How to save more money on a tight budget?

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Saving money is always a challenge. The situation becomes all the more difficult when you already are one a tight budget. But as the saying goes, the tough get going when the going gets tough. So to help you see off a financially difficult situation, we have brought you some very easy-to-follow money saving tips. Take a look and give your finances an instant push.

7 practical tips to save more money
  1. Reduce the helping hands. When you are looking to save more money, try cutting out on the extra helping hands you have around you. Ask your cook to go on a temporary leave for a few months and cook the food yourself. If you have a driver, release him and drive to work yourself or take the public transport. This will help you save some extra money each month.

 

  1. DIY. Doing it yourself is a major money saver when it comes to small household chores. So whether you have a leaky tap or a broken cabinet, get the tools out or just surf for a household fix and fix them yourself, rather than calling a plumber or a carpenter.

 

  1. Negotiate. Whether you are taking a personal loan from a leading bank or buying potatoes from your local vegetable seller, negotiate hard. You may end up saving some precious money by doing this. Remember, even one rupee saved is one rupee earned.

 

  1. Have a cut-off time. Set a cut-off time each day. It may be 7 PM, 9 PM or midnight. Do not spend a paisa after that time. Whether you are at a restaurant and want to order another dish or you are sitting at home and browsing an e-shopping portal, do not spend anything if it is after your cut-off time. This little bit of discipline will help you save a lot of extra cash.

 

  1. Utilise your loose change. Many of us have the habit of flinging the coins and small currency notes carelessly on the table after coming back home from work. Change this habit and save the day’s coins and small notes in a box. You will be amazed by the amount of money you save in the box at the end of each week.

 

  1. Get entertainment at home. If you want to watch a movie, switch on the TV and see what options you have. If you want to have a romantic meal with your beloved, light a few candles, pour some wine and set up a small table on your rooftop under the starlit sky. Avoid going to expensive malls and restaurants as much as you can and you will definitely be able to save some more money.

 

  1. Carry lunch to work. Pack your own lunch. We end up spending a lot of unnecessary money by buying lunches from office canteens, going out in a restaurant, etc.

The tips mentioned above are very easy to follow and won’t strain you in any way. All you need to do is bring in a little discipline and hard work into your day-to-day life. This will help you save more money even when you already are on a budget. So what are you waiting you? Just go ahead and give them a try.

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