We all love to save money. Instead of focusing more on the income, try saving more on the expenditures for better savings. The most disciplined way of saving is by developing systematic plan.
Being frugal means saving money by spending less money on items that are really not required and cutting on over spending. It’s the method adopted to live simply with less wastage of our hard earned money and being careful on savings.
Check below the methods of being frugal and money saving tips:
- Develop a budget
To keep a track of your income and expenditure it is important to maintain a budget planner. Allocate the amount wisely to differently saving plans, monthly expenses, and insurance coverage’s. Set up automatic deduction from the income account to saving account to ensure the savings is done regularly.
- Transportation
Huge part of our expenses goes to transportation. To reduce the daily expenses on transportation try
- Walking to smaller distances or using bicycle to shorter distances to save the transportation expenses. Plus you will get some daily exercise by going so.
- Use metro or public transportation to cut the expenses significantly
- Try car pooling with the friends to work
- Sell the extra vehicles at home
- Ensure to service you vehicles regularly to avoid consuming more fuel
- Join up with friends and neighbors for school pick up and drop
- Groceries and Food
One of the major areas of expense is for monthly groceries and food. And expenditure on groceries and food can be under budget few money saving tips.
- Check the house thoroughly for the all the items needed in kitchen and washrooms. Make a list of all the items and by doing this we will not end up wasting on the unwanted things.
- Instead buying all vegetables, try growing some of the organic vegetables or fruits that can be easily grown in the backyard or terrace.
- Try buying items in bulk quantities to save money
- Install supermarket apps and start buying items when they are on deals or when the coupons are available. And door delivery option would also save some transportation charges
- Use offers and deals at online portals and apps while dining out
- Try ordering online food at discounted rates and enjoy the food at home
- Don’t buy stuff because you are getting it for cheaper, instead buy things only if you really need it
- Electricity
Electricity bills are also becoming expensive these days and ensuring to keep a cut of unnecessary usage of electricity helps us in lesser bill amount.
- Switch off the lights when getting out of the rooms
- Unplug the electronics when they are not being used
- Buy energy efficient products
- Summer bills are especially huge because of the A/C and fan usage. Try to avoid using whenever possible
- Vacation time
It is important to have a memorable vacation time to burn the stress and tension in the regular life and spend some quality time with friends and family. It helps us in understanding them more and getting closer to them. But ensure to keep a check on the expenses.
- Plan the trip in advance. To try to travel during off season which helps in major cut down in expenses on the air tickets and hotel stay.
- Be smart in choosing the destination which might be nearer to your place, and hence lesser air ticket price or the average cost of living in that place is lesser.
- Choose an affordable accommodation such as hostels when travelling solo.
- Food should also be taken care of. If the accommodation provides you free breakfast, try utilizing the offer smartly and use the home made snacks that you have packed for the other part of the day.
- Use public transport instead of expensive cabs.