If that’s a problem, follow these 11 ways to save more from the salary-

Particularly when careers are taking off perhaps in the early twenties, savings can be hard. There are so much to do and so many things to buy! Besides, salaries at the beginning do not amount to much. You will have to wait several years for bigger paychecks. Yet, we realize the need to save more from the salary, whatever the incomes are. But, how does one do that successfully and park something in the bank on a regular basis? Some seemingly common sense tactics like starting a piggy bank would keep reminding of the need to put something by. We do not know if rainy days will really come but it is better to be prepared. You will agree that such a saving strategy is really necessary. Everybody does that!

Breakfast like a King

Among the essentials of daily life is food. Now food can be a source of health, can be abused and also result in big spending if not careful. A solid breakfast is a good policy for several reasons. If you eat frugally, hunger will soon occur and eating costly food outside will be the result. A power-filled breakfast should keep you going until lunch. Avoid unnecessary expense on food.

Can you cook for yourself?

Besides saving on buying cafeteria food, self-cooking results in healthier food for sure. Learn a few tricks and use some half-cooked food items that are available in plenty. A simple diet would result in more savings. You would soon get used to the new lifestyle. Many young bachelors carry their packed lunch to the office. Get rid of laziness.

Say goodbye to destructive habits like substance abuse

Besides the health factor, bad habits cost a lot of money and might finally pull you down. Nip it in the bud if it is a smoking or drinking syndrome. Life can be a lot healthier and invigorating without those curses that have killed millions already.

Sacrifice fancy and buy some sturdy high-quality dresses

It is only natural that we wish to be trendy and pick up all kinds of fashionable stuff like clothes, shoes, and sunglasses. The problem is that cheap stuff never lasts long and loses color and shape rather fast. More expensive clothes would last and last thought you might tire with the familiarity. Save more from the salary that way.

Understand the difference between needs and wants

You cannot live without needs! Yet we can often do without wants or things we fancy. Avoid shopping in a hurry and ponder each purchase carefully. Is the new bestselling book or music album really necessary? Why can’t you buy a cheaper edition? Regarding stationery, the office supply should be sufficient. Quell the vanity that is constantly seeking more. Lots of things appear attractive due to advertising gimmicks but put a halt to unnecessary shopping sprees. Avoid clutter and guilt feelings in the process of leading a Spartan life.

Avoid spending beyond your means

Spending should be strictly in accordance with budgets and incomes. Sometimes, social duties require visits to starry hotels to attend parties perhaps, officially on most occasions. You end up pleasing colleagues with a bill you cannot really afford. As a general rule, spend only what you feel comfortable with. Besides, the others know the kind of job you are doing and would not expect something beyond that. It requires some courage to assert yourself and avoid getting drawn into lavish spending beyond your means.

Walking is good for health and saves money too

Avoid becoming a slave to public transport. Wherever possible, take to walking, perhaps for ten minutes. Exercise is crucial and some money has been saved.

Revive the childhood piggy bank

It is the same idea of saving a little bit at a time. The media is constantly reminding about the saving habit too that would benefit financial institutions. Avoid using the piggy bank money except in a fix. Do not go for fancy shopping for a new shirt with the piggy bank money.

RDs make saving rather easy

A recurring deposit is an account where a certain fixed amount of money is deposited on a regular monthly basis. It is a disciplined approach to saving and is certain to succeed. Besides the monthly expenses and a little margin, the rest could go into the RD. At the end of the term agreed upon, get ready to receive the principal amount along with the interest. Make sure you do the right thing with that big amount.

A Provident Fund is a good investment too

The PF terms are fair enough. You contribute an amount of savings and the employer invests a similar amount every month that gets credited to your account. Usually, the money is received at retirement. Discuss whether such a facility exists and the terms. Slowly and surely, money accumulates over time.

Find ways to control expenses

If we consider some aspects of food, domestic services, phone and internet bills, laundry and ironing, reducing expenses is often feasible. Think of small amounts in the big process of saving. Little drops of water make up the ocean just like the dimes and the pence. Little bits of savings accumulate into larger amounts finally. Many young men and women can do without maid services by being a little more active around the residence. Doing your own washing and ironing also results in savings. Food always has cheaper substitutes if that would satisfy you. Even on dates, avoid the costliest place and the best gift. Be happy with less!


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