Earning money is a skill, it is considered as the result for our hard work. At the same time saving hard earned money and using it in the right way is also very crucial. There are many who are good at earning enough for their needs but do not spend it rightly. This article is to help you to save some money is an easy and simple way. It is true that everyone has the quest to save money but only a few are successful in actually saving money. Do you want to be one among them who actually saves some money from their every month income? Then be ready to contribute some money from your everyday expenses.

Yes, it is true. Small amount of money will actually turn into big cheques during investments. Irrespective of how small or big your savings is, make sure it is invested such that it is earning enough returns. There is a lot of difference between investing and savings. The money to keep aside from being spent is your savings but the savings that is invested to fetch returns is called investments. Everyone should make sure money savings = money earning. Every penny you save should have the capacity to earn return through investment and this is where you will be able to meet “time value of money”.

Coupons, Coupons, Coupons

Use Coupons to Save Money on Everyday Shopping!

Whether it is buying a money ticket or going for on online shopping, be smart to make use of various offers and discounts offered on your bank accounts, debit/ credit cards or even by the sellers. Make sure the money you are spending is worth for the product. As India is moving closer to digital payments, online transactions and paperless transactions are highly appreciated and lot of added benefits are offered. There are some stores which even offer discounts up to 85% on product. Even if it is paying utility bills, there are cash back facilities offered, make use of such facilities to save nearly 10-20% on each utility bill payment.

Invest in assets that fetch Tax Benefits

One of the smartest ways to invest your savings is by investing it in a land or housing property (which has clear titles). Apart from appreciation of the asset value, it will also help the investor to enjoy tax benefits to a greater extent. Analyze each and every investment option before actually investing your money, as these are the simple money savings hacks that everyone can try. Many have the intuition that having huge debts such as home loans is not good but it is interesting to know the tax benefits available for those who actually hold a home loan in India.

Rent/ Lease it instead of Owning

Choose Renting over Buying!

When it comes to occasions and big events, most of the things we buy or spend money on is for one-time use. Instead of trying to own the product, think of options to rent it for the occasion. Whether it is can expensive care, an expenses clothing or even decorative items- there is no need to spend all the money to own it for just one use. Use renting option and save some big amount. Having said that, if you are sure that it is a recurring expenses, then plan ways to own it. For example, you might be staying in a rented house and it is essential to pay rent every month. In this case it will be smart to think of ways of either owning a house or leasing it to save money.

Do Comparison

No matter what you are planning to purchase, start comparing it.  Nowadays there is option to buy most of the things online, then use it compare and pick the best and affordable products. Everyone has the option to compare as many products as they require before actually spending any amount of your hard earned money. Simply Googling products online will help you save close 10%-20% at least as not all sellers sells the products for the same price. Don’t hesitate to ask for discounts and offers. If you start savings all money earned through discounts, offers and cash backs, there are options to start a recurring account.

Build Credits

Savings does not just means literally saving money that is earned, it is also about maintaining you credit in your credit cards and have a decent amount as bank balance. If you have good credit balance and pay the bills on the time, there credit score will keep increasing thus it is a saving for any future loan requirements. Use credit cards only when it is necessary, it is recommended to not use credit cards to clear monthly family expenses. Be careful with your smart cards pins and online passwords. Savings these also in other words mean savings money. The expenses one will have to incur on loss or debit card or credit cards will also be a part of the money that you would have otherwise saved or used on other useful essentials.

Is Emergency Fund a Want or Necessity?

Apart from the above mentioned money savings hacks, make use of loans, scholarships, work from home opportunities and so on. When it comes to money, every bit gets counted. The more careful you are, lesser will be the loss. Having health insurance and life insurance is also one among many money savings hacks. In fact, there is opportunity to save money in each and everything; if you have time and ready to put effort then it is not very difficult.  Among the zillions of other options some commonly used money hacks are carpooling, shopping through wholesale stores, selling or buying used goods, making use of cash backs and reward points, switching off lights after use, stop wasting water, turning off your car when you are waiting in the signal or even adding some pennies to your piggy bank. Last but not the least, eat health and stay fit. The healthier you are; there is more meaning to your life.