Jun 05, 2017 06:01 PM
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(Updated Jun 05, 2017 06:01 PM)
Hello friends, this is my personal opinion on saving money which I am going to share with you today. For saving money you need to take care of following points: -
Always record your expenses, which occur in that particular month. This will give you the data that how much you expense on various things.
Once you have the data of your expenses you can set a budget for the month. Making budget will help you to keep a said amount out of your earnings and rest all you can save.
Always try to save 10-15% of money you earn, if you can't then try to cut down your expenses and put money on savings.
Choose something to save your money like Bank account, post office, mutual fund, share market etc. You can invest as per your risk taking capacity. Mutual fund and banks are safe options.
After saving money in various ways dont withdraw it on any little requirement, keep it for your future long term goals.
Try to make savings automaticlly enable from your bank savings account. So that you need not to worry about your savings. And you will not short fall for any EMI of your savings.
Always keep a eye on your saving amount. See how it grows day by day. It will keep you motivated and same time it will keep you alert by happening anything wrong.
I hope these tips will help you.
Thank you.
