In India to get good job and higher income is dream of many. Especially if you are starting career you will likely to remain in tight income situation at beginning. In tight income situation it is very difficult run household expense.
What happen when you cannot match your expense with your salary? But natural you need to control your expense and need to find ways to save money. Today we are here with 40 ways to save money in India.
40 Ways to save Money
1.Control your unnecessary expense to save money
First step in controlling expense and saving more money is to make monthly budget. Know your outflow. Once you know your outflow you will be in better position to divide it in to necessary and unnecessary expense. Control your unnecessary expense to save money.
2.Comparison and Bargaining to save money
In India bargaining is your birth right. Remember to compare and bargain to save money. Everyone keeps extra margin when they sell product. You must know how to squeeze this margin to save money.
3. Online Product purchase to save money
Today you will find many website like flipkart,ebay, amazone where products are available at lower rate or with cash back offer. You can opt for online product purchase to save money.
4. Purchasing used product to save money
Usually it is not advisable to purchase used product but in tight income situation one of the option to save money to purchase used product. You can take help of online website like quikr,olx to purchase used product online.
5. Avoid Branded product to save money
Use generic product instead of branded product. Branded product range is more costly than generic product. You can save a lot of money.
6. Avoid impulsive buying to save money
Avoid spontaneous buying think twice and about product need before buying that product.
7. Shop with list
Always go for shopping with list. Stick to shopping list. You will able to save lot of money if you shop with list.
8. Look for sale
Before buying anything look for discount offers and sale. Try to purchase things in sale to avail good discount.
9. Buy in Bulk
Be smart go for wholesale shopping shop and purchase in bulk. For bulk buying you may need some extra money but it is good money-saving idea.
10. Cut your transport expense
In tough money situation you need to control your transport expense. Try to avoid using car/bike while going at shorter distance.
11. Use carpool or Public Transport
To cut transport expense further you can use car pool or public transport system. This will surely save you lot of money.
12. Control Utility usage to save money
Electrical bill and gas bill is major utility expense today. Try to control usage of electrical bill switch off unused electrical appliance and you will see 20% reduction in utility bill.
13. Reduce Mobile Usage to save money
In tight income situation avoid usage of Mobile phone to save money. Where ever require you can give miss call.
14. Select more economic mobile and Internet plan
Another way to save money is to select more economical mobile and Internet plan. If you are not using internet frequently opt for disconnection.
15. Alternative source of Entertainment to save money
Instead of going out for cinema, try alternative source of entertainment, either by playing game or by reading e-book online.
16. Walk and Jog for health
Walking and jogging is best exercise. Avoid joining expensive jym or club try to walk daily to save medical expense.
17. Avoid use of credit card opt for cash payment
Credit card money always cost you extra you should avoid use of credit card and opt for cash purchase.
18. Plan your annual vacation in advance
If you are going for vacation every year in tight income situation you can either postpone it or plan it in advance to save on cost of transportation, hotel stay etc.
19. Check and swap your credit card
It is not advisable to use credit card but if you are using one make sure it is economic in plan if not swap your credit card to save money.
20. Avoid frequent visit at hotels cook at home
Avoid frequent visit to hotels make food at home to save money.
21. Car Maintenance
Always keep your car healthy by doing maintenance and regular check. By this you can increase mileage and save money.
22. Entertainment at home
Find way to entertain yourself at home only. Play indoor games with family or by playing game on mobile.
23. Change electrical appliance to energy-efficient appliance
Energy efficient appliance can lead to power saving. If possible go for energy-efficient (energy star) appliance at home to save utility bill.
24. Cancel unused memberships or subscriptions
To save money cancel membership of gym, club, magazine which you are not using it.
25. Try to repair broken items instead of replacing them
Another very good way to save money is to repair broken item at low-cost instead of replacing with new.
26.Plan most efficient driving route
To save cost of fuel plan most efficient driving route. This route could be shortest route or route with less traffic conditions.
27. Pay your bill on time
Pay your bill on time to avoid late fees and penalty.
28. Laundry at Home
In tight money situation you should count every penny. Avoid giving cloths for laundry outside.
29. Shop at discount grocery stores
Change your shopping location buy at shop where discount is applicable. D-mart, Reliance fresh is place where you can expect more discount.
30. Avoid bad habit
Cigarette and Alcohol is enemy of health and money. In tight money situation you should avoid bad habit to save money.
31. Skip Car Wash
Skip car wash facility to save more money in tight money situation.
32. Check your debt
Check your EMI and debt condition. To save money reduce interest burden, switch to low-interest loan by swapping bank.
33. Go Veggi
Select vegetarian diet in tight income situation. Vegetarian diet is less costly compare to non veg diet.
34. Celebrate with simplicity
In tight income situation you should avoid unnecessary expense by celebrating birthday or anniversary or celebrate it with simplicity.
35. Buy electronic item in off-season
Always buy electronic item in off-season. Instead of buying AC in summer season purchase it in winter.
36. Make your own gift instead of buying from store
To save money make your own gift or give low-cost gift while going for party.
37. News paper expense
In tight money situation cut your news paper expense and read news paper online in free.
38. Cable connection expense
Give disconnection request for cable TV connection to save money.
39. Start saving automatically
Open another saving account or recurring deposit account to save money automatically.
40. Avoid excessive use of credit card
Avoid excessive use of credit card to save money.
Use these 40 ways to save money in India. Do share your experience.
