Money plays a major role in the life of any person in this date. It is important to take care of how and what you are earning and where you are investing it. Using money wisely is one of the secrets to becoming a financially stable person in later life. Being miser is something different than being smart in spending. Today we will talk about the ways that you can carry in your day to day activities to make sure you end up with some considerable amount of savings and make use of this money to earn some extra amount by investing it in ideas like mutual funds etc.
Here are some tips that you can carry in your daily life to become a smart spender and to use the given services smartly and economically.
Use discount coupons wisely:
Coupons can be a great idea to save money but it is important to make sure that you are not using coupons to buy unnecessary items just because you can save a few rupees. For instance, if you are using a coupon to buy a bulk pack of cosmetics that you have never tried, you may get stuck with a product that sooner or later would be wasted if you didn’t like it. So try to use coupons for the items that you are sure about or you use them on regular basis. With intelligent use of coupons, you can surely save yourself a handsome amount of money. You can also take help of social media pages of the companies that are offering discount packages or can help you use your coupons to shop grocery for you. It will help you to stay up to date with the latest deals in town and will help you take maximum advantage of it.
Cell phone plan and use:
Cell phone a basic necessity of every person on this date and with a cell phone you can surely stay connected with your peers. However, with its extreme importance, it is also something that takes much of your monthly earnings. To aid the users the cell phone companies keep offering short and long-run plans for the users. You need to check if your cell phone package matches your needs or not. If you are paying for an unlimited data and not using it, it’s the time to shift your package. Also, check for your sms, data and call usage and buy a package accordingly.
Washing your car on your own:
There is no big deal in doing your own chores. Dealing with small activities at home like cleaning the garden or washing your car, will not only save you some money but also give you better health and some fun time with family if you get your kids involved with you for a car wash.
All that you need would be a bucket, soap and some old rags and you are all set for the amazing family adventure right in your garage. Although going to a car washer can be easier and quicker but it will also cost you a lot of money. Save that money for any better use.
Wearing clothes wisely:
Wear your clothes for at least 2 to 3 times before washing them or sending them to dry cleaner. We do understand that wearing Lawn suits twice, in the hot weather of Pakistan, is not a good idea but what about those jeans and jackets? What about your dress pants and suits? Washing them every now and they will tear them up quickly. The color will fade fast and it will surely lose the grace quickly.
There is nothing bad in hanging these clothes again for a second use. It will save your dress from wear and tear, time of ironing them again and again, and the costs of washing or dry cleaning them every week or so. It will also help you keep your wardrobe look nice for the longer period of time and allow your favorite dress to make you look good for longer.
Pay bills and credit card payment on time:
This is a key to staying secure financially. Never delay your bills and credit card payments as just one small delay can end up making you pay hundreds of rupee in terms of late fee and other surcharges etc. Paying your bills on time not only make you punctual and teach you finance management but also impact greatly on your savings.
With the timely payment of bills and credit card can make you save the extra money in your safe deposit. On the other hand, late payments for the credit card will have a negative impact on your portfolio which will end up restrictions on many facilities that you could have availed if you had maintained a good portfolio.
Smart shopping with credit cards:
Having a credit card to be used in emergency and paying the credit card bill is not the only thing that you can deal with. A credit card brings you an unlimited amount of opportunities in life. Before you opt to buy a warranties item like any Mobile phone or LED TV, check your credit card. It is possible that the credit card you own offers an extension of the manufacturer’s warranty on items that you buy using the card. Although there can be few cards that can offer you such services, it’s worth doing research before making any such purchase.
Be careful about speeding on the road:
Yes! You need to slow down. It will save your life and a lot of money that you may need to give to doctors in case of any unpleasant incident, or the police may get you and charge you with a considerable amount of fine.
If you need to be somewhere at a specific time, let say a meeting or an interview, better is to set up the alarm and make sure that you are giving yourself some clear time gaps to cope with an uncertain situation. This small change in your attitude towards settling up things will not only save you some money but will also leave you with some better-settled rules for life.
No more smoking!
No, we are surely not up to give you some health advice but yes, quitting smoking will give you some financial benefits as well. We completely agree if you are not scared of cancer or you have some amazing health insurance policy to help you in any such case, but what about the impact of cigarettes on your pocket. Each pack of cigarettes costs an average of about PKR 100, which means that if you are smoking 3 packets in a week it makes 12 packets per month that cost PKR 1,200 and almost PKR 15, 000 per year. This amount is just for sustaining a bad habit that will surely lead you to bad situations as you get older. Remember in such cases, the physical cost is much more than the financial costs.
Become a handyman:
No need to become a jack of all trades but there are many small wears and tear that you can repair at your home or in the office with lesser knowledge about the issue. With the changing technologies, YouTube is also a great option to educate yourself to deal with these minor repairing tasks at your home. You can also find many books in the market about different How-To tips. Change your approach of calling experts every single time you need some help, Try to be your own boss.
Sticking to the budget:
There are hundreds of budget management applications that you can have right on your smartphone. Making yourself a budget is always the first step to save money. However sticking to the decided budget is a tough task for many people, especially when they have an excessive money in hand. No matter how much excitement and fund you can have with that amount in hand, sticking to your budget is very important for you to stay independent and secure financially.
Here important is to write down your budget. No matter how much concerned and keen you are to stick to your budget, important is to take notes of everything that you have spent on and what was your budget demand.
Staying organized and advance planning are two major things to ensure and economical lifestyle. Planning in advance will not only let you find and avail amazing discount offers and other opportunities but will also help you keep a check and align other activities in your life, leading you to financial peace and stability.