Hands-on and practical journal to get rich - by spending prudently and earning additionally

Save More Money with these 10 Real Time tips

If you are part of the Corporate World and depend on it for your “bread and butter”, then this is a must read post. Provided you aren’t living under the caves, “credit crunch” must have found a place in your day-to-day vocabulary. There is RECESSION! Companies are trying all means to cut costs, trim down work force, make profits and survive!
With so much of uncertainty, it is high time that you revisit your expenses (a.k.a. spending habits) and find ways of saving more money. I am sharing a few “non-biting-non-difficult-to-the-point” tips to help you save more money… without an increase in your wages!!
  • Get rid of Credit Card Debt…. and then the Credit Cards. You would then feel the joy of not having to pay your Credit Card bills every month!!
  • Revisit your Mobile, Fixed Line and Broadband plans. If you are in the so-called “Unlimited” plan, find out if you can move into a “limited” plan based on your usage, with a decrease in monthly rentals
  • Start Eating at Home more often. If you are married then reduce the frequency of visits to your favorite eatery. If you are unmarried, then learn COOKING! This tip also helps your health concerns
  • Look for vehicle pooling options to go to work. If you are driving a 4 wheeler all alone, for say 5 kilometers, it is mandatory that you stop doing it. Look for some colleagues who can join you (or you can join them). In either case, share the fuel expenses, which means more money in your pocket!!
  • Revisit your Insurance plans. Insurance plans are wonderful, but you lose more than you gain if you survive the premium period. (I think this is true in majority cases…). If you are paying a hefty premium, try to reduce the Sum Assured (and hence the annual premium) to match your family needs
  • Stop buying Books every month and join a Quality Library. If you are like me, grabbing at least 2 books every time you cross the Bookstore, then learn to resist your temptation. A better alternative is to join a quality library in your neighborhood and you would be surprised to find the book expenses reduce by more than half (all without sacrificing your reading habits)
  • Pay your bills on time. This is applicable to all your bills and makes sure that you never have to pay the penalties. I use Google Calendar to send me reminders via SMS, to pay my bills. You can use this, if useful
  • Transfer a fixed sum to your Savings account, right on Day 1 of the month. Make sure you never touch it for the rest of the month, unless required. The results will speak for themselves!!
  • Keep your vehicles in good condition. If required, get it serviced at a quality workshop. It is an investment, to keep your fuel bills under control!
  • Switch off electrical appliances at home, when not used. Make sure all unused appliances are switched off (including the power outlet), especially in the nights. This can definitely save a few rupees in your electricity bill
I can keep adding but “10″ is always a magical number. I will stop here, as this is already a good start for better saving habits. Feel free to add more useful tips, as comments to this post.
Photo Credit: colros on Flickr/Creative Commons

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