How to Save Money - 10 Simple Tips

Everybody tells you to save money. But nobody tells you how and what should be the direction. I thought I should come up with that content and share with you guys. I am sure this would be a good thing for making and saving money.

Some of the time when it comes to making money, you have limited time and options. And saving money means taking some risk and building based on that risk. Some of the time finding ways to save is a good thing.

This post is about some of the tips that you can use in your everyday life. I have made those tips can be useful for you if you learn to handle the finance and the mental pressure.

Take a look at some of the tips below and check out if you can make use of these tips for your life in general.

1. Save 10% for retirement from Salary

I think if you start investing 10 percent of your income into something that would come out to be a good option for you for long term investments. And that is also a good thing on the retirement side. I guess if we do this the right way it can help us all out the right way.

In short save now, so that you don't have to rush for the cash and retirement later.

2. Invest 10% into Mutual Funds

I have been investing into the mutual funds and that has kind of helped me on the safety side. Some of the time you may find the balance going down. But if the investment done with the right number it can save you a good amount there.

3. Buy discounted Items from Online Stores

I usually buy the items like say books, cleaning items on the discounted store. And I can get them for the cheaper price. You can also find some of such items at the cheaper price. In general you can find them in stores which have them in the bulk, so worth exploring.

4. Invest into Cryptocurrency

Now this may not save the money directly. But during the bad times think of this as an emergency. You can save into the BTC and the Ethereum and in bad times that can be sold for the profit. Something to be done.

You may have to take advice of experts and choose your coins wisely as well.

5. Use Generic Medicine & Grocery Items

A lot of branded medicines are expensive and the doctors who suggest them are also doing this to earn the commission. And so it's reasonable to go for the generic health shops. It is something I am aiming for as well.

Grocery too can be found from the generic view as well. It's something that I have realized that can save money for those who are trying a bit harder on that count.

6. Use Electronic Vehicle to Save on Fuel

I know not everyone in every part of the world can have the electricity and they are kind of forced to use the fuel. So the EV is going to be a good option in near future. I know a lot of people are already switching to the same.

In terms of the power, I feel that a lot of vehicles are going to be costing you, but the EV has a lot of benefits, from the environment and other side as well. So worth checking out as well.

7. Get Insurance Early in Life

I think if you take insurance early in life for some specific years that insurance stays valid. If you instead take the insurance later in life that could cost you a lot of money as well. That's what you should watch out.

You have to make sure that you take insurance at the right time of your life. That kind of helps you out with the insurance later and also health-wise in general.

8. Eat at home before going to Mall

A lot of kids ask for food from the mall. Same goes for the adults. They tend to eat at mall and have an experience where they end up spending more. So it's reasonable to eat at home and have a stomach full before going to mall.

This helps on saving money that you burn up at the mall. And another thing is that overall you have a good experience with the time spent walking and seeing all the new things as well. That's what malls are for there.

9. Reduce Subscriptions

Netflix, amazon and others all have a cost for you to pay. In case of the Netflix you are going to be suffering a lot. You have to reduce the cost of the subscription and make sure to avoid it.

A lot of people use torrent, which is illegal but saves your time and money. It is reasonable to make use of the simple and free content if you want to save on money. But at the end it's your choice.

10. Spend time in DIY

If you buy something already made, you are going to have to pay for the same. When you are spending the time doing those things, you are going to save on money. And in turn the time spent doing those things can be a good experience.

Some of the time that may not be good thing for all. As some have limited physical abilities. And so DIY is a good option for specific set of the people and also it can save money and safe from creative side.

What do you think?

These are some of the tips, I am sure even you know in your everyday life. It helps that way if you learn to balance finance using these tips.

Let me know what do you think :)