Top 10 tips on saving money

It is n’t even halfway through the month, and yet that bank balance hovers perceptibly close to the abyss of naught.  Stunned, shocked and dismayed! These very emotions sway a number of usmonth after month, year after year.  Ever wondered why we seem to run out of money, even though, our wages came in a few days ago.  It’s that oft-forgotten art of saving. Saving money that is.  For those who meander through this condition regularly, here are 10 tips to make life a lot easier.

  1. Track those expenses – Nothing complicated here. A simple spreadsheet would do. Even a diary to jot down what you are spending on is enough. Keeping track of expenditure is the foundation for saving money.   Once you have them written down for a month or so then look at the unnecessary areas of spending and cut those down.


  1. Make a Budget – Now that you know the outflow draft out a budget. List out all essentials and fixed expenses first and allocate monies towards them.  From what is left, plan other expenses such as shopping, gifting, The most important thing here is that all your essential expenses should be catered to first and not the other way round.


  1. Contingency Fund – While you are creating that budget, set aside a small amount towards a contingency fund. Park this in savings bank account and don’t touch it unless you are in a crisis. And getting that swanky new Smartphone that your neighbor just got does not qualify as a crisis.


  1. Do I really need it – Always ask from yourself before buying anything. Take a breather and ask yourself whether you really need it. Often you would remember and realize that there is something tucked away which suffices that very need.


  1. Shop Online – Keep searching online for bargains and coupons. More often than not whatever you feel like buying gets listed. It may not happen immediately but in due course it does. That is when you need to buy.


  1. Be Patient – Patience was and still is a sterling virtue. A case in point – gadgets.With the rapid rate of technological obsolescence, it makes prudent sense to hang on just a little longer. That latest smartphone will drop half of its value in a few months. Buy it then, if you still need it.


  1. Carry a List – Before you leave home to shop for groceries make sure that you have a list. It isn’t uncommon to enter the store for an item and walk out with ten more.  What can you do, you say, the offers were so tempting.  Keep temptation away, stick to the list.


  1. Eat at home – Eating at home is way friendlier on your wallet than eating out at a restaurant. Order only what you need and save on tips too.  Go online again and shop for deals. You will be surprised at the variety of offers you can find.


  1. Bundle Services – Go in for a service provider that can provide you a package on broadband, Cable TV and phone services.  Bundling them can give you an added cost advantage over opting for multiple suppliers.


  1. Skip the Multiplex – Not every new movie needs to be watched at the plush multiplex.  You can rent them instead.  Wait a little and watch them for free on cable. You save additionally as a visit to the multiplex does not go without a Cola and something to eat.

Follow these simple saving money tips and your bank balance will surely leave a smile on your face. Remember, money saved is money earned.





Swash is an entrepreneur who is deeply involved in many online and offline joint ventures. Swash is also CEO of Swash Enterprises - offering online business solutions - and running a couple of different businesses.

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