Tips for Cutting Costs

Here i would like to give a few tips for cutting costs on personal expenditures and saving some money. This way you will save more and become financially secure faster.

1. Always pay by Cash or Debit Cards.

Potential saving - Saves interest on credit cards and also helps you budget better since cash will limit your expenditure

2. Always Pay credit card payment in the full at the end of every payment cycle.

Potential Saving - Saves interest on credit cards which can actually go upto 40% anually with some banks.

3. Always save small amounts every month for Diwali/Christmas/other festival shopping.

Potential Saving - This way you can avoid going it to shopping spree with a credit card and unlimited expenditure and end up paying heavy interest.

4. Always use internet / phone banking

Potential Saving - Saves fuel traveling to the bank, saves time, saves bank fees in some cases

5. Always take your own Lunch to Office

Potential Saving -
If you are spending Rs. 50/day on lunch, in a month you can end up saving Rs 1300/month and Rs.15600/year.

6. Always start saving early for your next car and buy a lower model.

Potential Saving -
A larger down payment can result in lower cost and lower interest payments for the loan.

7. Always use pre-paid cards for Children 's mobiles.

Potential Saving - If they talk too much on mobiles and end up finishing there balance early, ask them to top it up with their own pocket money, this way they will know learn the value of money faster.

8. Always stay in a self service hotel when going out on vacation

Potential Saving - Saves a lot on restaurant bill when out of town a lot of money since they are usually cheaper. i recently heard that the TATA group has opened a chain of such hotels.

Well that all i could think of right now, if you have any other items you can think of do let me know.

Related Posts

Ways to cut taxes and save Money

Money Saving tips

Tax Saving in figures


Investment Opportunities

1 comment:

cheap north face said...

When it's cold you want something that can really protect you from the cold and wet, you can opt for the cheap north face jacket. Because the North Face is such a great brand that its jackets can be quite costly. However,the cost at the North Face Outlet can save you a lot of money! When you are shopping for cheap north face jacket is definitely one of the best brands to stick with. A lot of the time there will be a surplus of the north face because other people don't want to pay that much for a jacket! This is why you can generally wait a bit longer and wait for the retailer to mark the price down before buying, because there will be plenty left to choose from. This is a good way to get cheap North face.