Money saving tricks for 2021. How to save money fast?

 How to save money fast and invest?

We all want to make a good control over our money. Isn't it? 

Well we all have heard this a several times  to reduce our debt. And we all are totally on board with this plan. But starting with this, we need a starter emergency fund. 

Now, starting with saving money by managing it well. 

1. Start budgeting. We need to recognise and know our own budget. Without budget we often just spend our money carelessly. And after spending it, we think where our all money have went to. 

But with budget, you give every pound of money a name. Sounds crazy, right! Giving name to money. Yes, it is but this is the best way. The first name should be your a minimal amount say Rs.10000 an emergency fund. You have to decide how much money you can save every month and have to do this first. Then assign your rest of the money where to go .

Saving money by cutting your spending.

2. Drop unnecessary entertainment, shopping, going to restaurants frequently. Brace yourself for this one. We all have to eat, right? But we don’t have to eat at a restaurant. You don't have to regularly visit a movie theatre, hanging out with friends in a bar.  You should be aware of the things  you spend for just sake of fun. Avoid doing all these on a regular basis. 

3.Evaluation of necessary expenses. You need to first spend some time with your budget. Get acquainted with different categories like groceries,gas etc. Give each one a separate category and decide which one falls under what category. And these are the areas you could not cut but could cut back .

 Try less travelling. you find a great deal on an item you absolutely need, buy it in bulk. Make a list and stick to it when running errands. You might just surprise yourself with your own creativity in spending less to save more.

4. Re-examine your bill. Most likely your bills are set on the basis of  fixing it monthly and forget it on the next. You already chose your plans years ago and now you just don't think about it . But now it's the time to re-think because you have to save Rs.10,000 for emergency fund. 

Saving money by increasing your income. 

 

5. Get more work. Talk with your boss and bring home more work. By this you can earn your bonus. Doing an overtime work and increasing your hours temporarily , may be just the boost you need.

Or you can also do a side business , as a part time job to earn more. 

6. Decluttering. You can consider there’s something powerful about resetting your priorities. When you decide to take control of your money and save Rs.10,000 for an emergency fund, other things start to look less important. And by “things,” we mean stuff.

Search around your home, or have a tour of your own house and look around what things are just kept and not in use. Sell them , put them on any online selling site, for example, OLX. 

Saving money by getting radical.

7. Selling off the vehicle. Sounds crazy, right! Yes, it does. But if you have a big car and you have small family. The car is just using extra space and consuming more of money in its maintenance. Instead buy a bike or a small car. Because your first priority should be the Rs.10000 emergency fund saving every month and expanding it more. 

8. Believe yourself.The tips and tricks above work, but only if you do. The people who get after it are the one who see biggest and quickest return on their efforts. You can do it! Believe in yourself.

Investing in different areas and giving it a proper time is the major role it plays.

Two person earning the same amount monthly. But the first person decides to invest Rs.5000 for 35 years till retirement and the second person invests the same amount Rs.5000 for 10years and the second person started it lately. At the end of the retirement we'll see that the first person has double the money of the second person because he has invested it and has given it proper time. Remember the compound interest rule. Time plays the major rule. 

So, you just need trust yourself and invest the money and give it time.