What is the first thing that happens when you get your salary?
Buzzzzz.. You get an SMS that your salary has been credited into your account. And what is the next thing that happens?
Buzzzz Buzzz Buzzz.. A couple of more SMSs for the pending payments of credit card bill, mobile bill, electricity bill, Home loan EMI, Car loan EMI – and your salary disappears in a few days.
I understand, we can not avoid the essential expenses but we can optimise the way we spend our money.
You may be smarter than me. You might have figured out ways to save money on every transaction that you make on your shopping.
I can share my own hacks that I have been applying to save money in my life without compromising the lifestyle that I wanted to live. I am not going to give you advice on cutting your expenses to kill your desires. Why do we earn if we can’t live a decent life? We must spend our money on our lives.
There are three areas where we can save money effortlessly.
#1. Saving Money on Shopping
I have been following some ways to save money whenever I buy something online or offline. You might be aware of a few tips but you will definitely find a new method from my list.
- Use the Best Credit Cards for getting the most benefits on your shopping
- Use a combination of Payment Wallets + Credit Cards
- Check Deal Apps Before Dining, Spa and Haircut
- Chrome Extension for automatically finding coupons
- Add Items In Shopping Cart And Wishlist Without Checking Out
- Use Online Calculator Before Applying For Any Loan Or Investment Policy
- Use Ala Carte Plan For D2H TV
- Switch To Prepaid Mobile
- Buy Groceries From Wholesale Markets
- Don’t Keep Your Idle Money In Regular Saving Account
Read these two articles for the detailed information
#2. Saving Money on Travel & Vacations
I used to go for a short vacation of 3 to 5 days when I was doing a corporate job. I don’t think that’s a good way to spend time on vacation. Most of the time is wasted on the travel itself. There is no fun of vacation when we come back tired. Vacations must of long & relaxing. We figured out ways to enjoy 30-days vacation in GOA within the budget of a 4-day trip.
Some of the useful tips for you.
- Use credit cards for earning points and miles on travel booking
- Use discounts and deals for travel booking
- Use payment wallets for additional discounts
- Stay at AirBnb rather than hotel for long term vacations
- Book Hotels far from the city (we saved money when we were on road trip)
- Become a travel blogger and get free perks from the travel companies and hotels.
In the same way, we hacked two months long Thailand vacation under our budget.
Recently, we spent the entire month on a road trip under a budget of 82,000 rupees.
#3. Saving Money on Income Taxes
I have listed down 27 ways to save income taxes in India. After reading this article, you may not need any other article to find a legal hack on saving income tax.
Over to you
Did I miss anything?
Please let me know in the comments.