Everyone loves and wants a comfortable and luxurious life and hence spending a little too much for their habits and lifestyle. But spending too much just to maintain a lifestyle is not at all good. Saving money is equally important as earning as the saved money is an asset which can help you in future. Here is a list of 20 money saving hacks which can help you to save more. These hacks are not going to make you millionaire but if followed properly you can definitely save more.

Hacks to Make Your Wallet Fatter

1. Don’t ever spend more than you have. Avoid developing habits such as, borrowing from friends and family and spending on unnecessary stuff. Always maintain your lifestyle according to your income.

2. Make a budget every month, there should be one separate budget for you groceries.

Life On A Budget

3. Make a list of groceries which you need and always try to purchase from shops which provide offers or discounts. If you can reach wholesaler, try to purchase your groceries from them as there is a considerable difference between the prices of retailer and wholesaler.

4. At the end of every week, make a list of the expenditures. This will help you to track and analyse your spends, which in turn will help you analyse the places where you ended up spending more than intended. This will help you save in future.

5. Make a spreadsheet of your expenses every month and evaluate it at the end of every month, so that you can know and analyse your mistakes and hence avoid it in the future.

6. Whenever you shop whether it is the grocery or apparels, always ask for a receipt from the shopkeeper. Once you have the bill, match the items and their prices with the items that you bought. If you find any errors, get it rectified immediately.

7. Don’t be a brand freak! What is the use of buying a shirt for INR 5000 which you can easily get at INR 500? In today’s age a certain fashion trend has a very short life of only 2-3 months, after which it becomes out-dated. Hence it makes perfect sense to buy cheaper and trending clothes which you can keep buying every few months.

8. Always search for coupon codes and cash back offers while shopping online.

Money Saving Hacks that Everybody Should Know

9. It’s always suggested to go cashless, but when you use cards for the payment you are somewhat less alert comparatively when you pay by cash. When you pay by cash you have comparatively more value as you can evaluate your expenditure in a better way.

10. Frequently dining out and having lunch outside, whether with friends or alone, is costlier than having homemade food. We are not suggesting that don’t eat out ever, but there should be a fixed budget for it according to your income and having dinner out once in a month is quite cheaper too.

11. Using electricity and water in a proper way not only save the energy but it also save on their respective bills.

12. Don’t be an impulsive shopper. In the age of eCom, there are multiple online players in each domain, who always try to provide a deal better than their competitors. As a smart shopper, one should always research online and compare the price of a product across different websites, to avail the best price.  There are websites which even offer a live comparison of prices of product across different websites, in one place.

13. Don’t fall for the technology upgrade. Before going for that latest phone or laptop don’t forget that your existing mobile and laptop are still working fine and you are able to carry out your tasks, it will be a good idea to stick with them for a while.

14. Tracking your credit card purchase and checking your passbook once in a month can help you in self-evaluation.

10 Tips to Stay Financially Fit, Always

15. Reading books is a passion for some and a thing to show off for many. If you are really interested in reading, purchasing all the books that you love can cost a significant amount; hence it might be a good idea to borrow books from library.

16. Don’t keep credit cards in your pocket; you may not avoid the temptation to swipe it, should you come across something which has been on your wish list for a while.

17. If you are health conscious and use gym, then try using your apartment or society gym. As these gyms are free and you are already paying for the maintenance. Opting for a gym outside just increases your expense.

18. Be strict and timely with your bill payments. A late payment ends up with penalties and hence you will be paying more for the same due.

19. If you have a plan to visit somewhere, book your tickets in advance. This will save you a lot as last minute flight tickets can cost a bomb.

20. A clear and well-defined goal is a must for achieving anything in life. Setting up a financial goal will help you become a financially disciplined individual over the time. Once you realize the path that you need to follow for a financially fit life, everything else will fall in place.