Money Saving tips

 Introduction:

Saving money is an important aspect having a secure financial future. Saving money allows you to avoid life's uncertainties and live a more fulfilling life. Saving money in a systematic manner can help you avoid many pitfalls in life. It can assist you in your time of need and ensure that your family has something to fall back on in the event of a disaster.

Tips to save money:

·         30 Day Saving Rule: The 30 day savings rule is a simple financial rule that can help anyone improve their money management skills. This rule is simple to apply. Close your shopping app or walk out of the store the next time you feel tempted to make an impulse purchase or simply buy something you don't need. At least not yet. The 30 day savings rule requires you to postpone all non-essential purchases and impulse purchases for 30 days. Instead of spending your money on something you might not need, you'll think about it for 30 days.

·         50/30/20 Rule: The 50/30/20 rule is a simple method that can help you manage your money effectively. The basic rule of 50/30/20 is to divide your monthly income into three spending categories: 50% for needs, 30% for wants, and 20% for savings. You can put your money to work more efficiently if you keep your expenses balanced across these major spending areas on a regular basis. With only three major categories to track, you can save yourself the time and stress of delving into the details every time you spend.

      Cancel membership and automatic subscriptions: You're probably paying for multiple subscriptions, such as Netflix, Spotify, gym memberships, trendy subscription boxes, and Amazon Prime. It's time to cancel any subscriptions you don't use on a regular basis. When you make a purchase, make sure to turn off auto-renewal. If you cancel it and realise you can't live without it, subscribe again—but only if it fits into your new and improved budget. And, for those subscriptions you do want to keep, consider sharing memberships with family or friends. Many streaming services, like Netflix , allow you to watch your favourite shows on two or more screens.

       Unsubscribe from marketing emails: Email marketers are very good at what they do. If you can't resist a special offer, click the unsubscribe link at the bottom of the email. Do it, because after that you'll be less tempted to spend, and your inbox will be much less of mails.

cut back on eating out : Buying lunch a few times a week may seem good at first , but packing a homemade lunch can save you a lot of money.Not only that, but you can often get a week's worth of groceries for the same price as two dinners out. Instead, cook your own meals and watch your savings grow month after month.