how can i save money?

Answer 1

by not spending it

Answer 2

First try and get an approximate figure as to how much do u need to save and for what.U hvnt mentioned ur age or background so I wont know whether all of it will be applicable to you.
Do u have to buy a new house, car, money to fund education...
Do u have kids or plan to have one soon...If so then u need to save money for their education, health,etc.
Typically 20% of ur savings should be in Insurance- Life/Medical/Accident. It is helpful in times of need and also generally tax-free. Depending on ur risk appetite, invest in shares and have some money in debt-funds.
Though debt funds, government bonds, provident funds do not offer high returns, atleast your money is safe and also taxfree on maturity.
If u dont know much about shares or think it's too risky then opt for mutual funds. However, please do a background check of the Fund u are investing in and don't go blindly by NAV values.

Lastly, spend in ur limits and most IMPORTANTLY keep a diary of how much do u spend everyday on routine expenses like taxis, phones, eating-out and u might fingd certain areas that u can cut down on.

Answer 3

Have your check direct deposited into your bank. Also set-up a direct deposit into a savings account that is not accessible with your ATM card. This will make saving much easier.

You should then contact a Financial Adviser to give you a Financial Needs Assessment. This will be critical for your long term wealth acquisition. If you do not do this your chances of ever becoming wealthy and financially independent are very low.

Answer 4

Spend less money. If you are leaving in Bangalore, then it's difficult. But you can do like This:

Leave in a Small house which costs 2,000 and Bring Provisions from nearest General stores. If you have Refregirator it will charge 1Unit , so Switch off any one day of the week. If your hobby is watch TV reduce it.

Answer 5

Don't smoke, it's expensive
don't drink , buy clothes you don't have to dry clean
read the newspaper at the library, borrow books don't buy
buy cases of bottled water and bring to work/ school, 17 cents as opposed to $1 a bottle Don't go to the movies join netflix or blockbuster online to see new movies, pay off charge cards in full each month, if you can't, wait until the next month to buy it. It's helped me

Answer 6

set up a budget, and stick to it. If you can cut your expenses down then you can save alot.
You could also consider reseaching some investment options for example looking for how to books on share trading and investments, but most importantly on money management.

Answer 7

Put some in a savings account at the bank every time you get paid.

Answer 8

invest in bank & after a particular amt,draw some money and buy a gold goin such as 1 gram or 2 gram for 1year.after few yrs u will be a owner of some kilo of gold's.Present day investing in gold and shrs make u 2 earn more,but investing in shrs is highly risky,need knowledge

Answer 9

there are many ways but the simplest way is to reduce ur expenditure .Spend money only on necessities like food ,clothes etc...you can use my formula also its the easiest everyday before going to the bed deposit some money in ur piggy bank and one day this money would be more than enough!

Answer 10

Think you are earning only 60% of the money and manage within that. Obviously you save the rest.

--Knag

Answer 11

Dont waste it.
Eat less.
Spend less.
Earn more.
Buy a wallet.
Open an account at a bank and deposit money everyday (except saturdays and sundays)