Rules to Save Your Money Smartly
Money that is saved is money that is earned. This should be your mantra going forward and even though many see saving as a pain, it has to be done. Saving money doesn’t mean that you cant treat yourself once in a while, you just need to make it part of your lifestyle.
Review your Home Loan
Take time to look at the interest paid on your home loan. There is so much competition in the market; you should take advantage of this. You need to be sure that your bank is giving you the best deal and if not then compare and negotiate.
Having to Many Cards
Take all of your credit cards out of your wallet and just two that you want to carry on with. The ones that you choose will depend on the interest rate and the rewards.
Limiting your cards will also limit your spending.
Arrange for all your bills and statements to get to you before a pre-decided date every month.
You can then go through these to check them for any mysterious charges. Doing this will also mean that you can recognize your spending habits so that they can be planned or corrected in advance to help you save money.
Plan ATM Visits
You need to have a restriction on the number of ATM visits. This helps as expenses are planned for in advance, as cash needs to be withdrawn. Also many banks have started to charge for ATM withdrawals so by planning in advance you can avoid these costs.
Track your Expenses
You need to keep track of your daily expenses by having a diary or download an app that will do this. Analyzing your expenses regularly you are able to find ways to save on unnecessary expenses.
During the sale season, retail therapy reaches new heights. You are able to save money on some items, so this essentially free money that you got from the discount can be saved.