12 tips for smart savings

I found these financial saving tips on a local bank calendar and I’d love to share:

1.   The first step towards owning a car is to keep your expectations realistic. Saving up to buy a car on cash is a better option any day than leasing it. Do the maths!

2.    Our responsibilities not only involve providing for our families but also mother nature. Plant a tree, use less paper and turn off those lights as a habit of supporting eco-system.

financial-savings-made-easy   3.       Developing a habit to save without being miserly would definitely get you on the track to getting rich slowly instead of getting poor fast. Instill this admirable trait in your children from an early age too. Mother and daughter with piggy bank

4.        A little bundle of joy brings with it a bigger bundle of responsibilities for you. Plan ahead for the young one’s education, vacations and marriage so that no dreams are left unfulfilled.

5.      When summers are near, you have vacations in your mind. Allocate a budget for the trip so your savings aren’t affected. Plan in advance to avail special packages online.

6.      Emergencies can happen any time to anyone, A rule of thumb is to  have at least three times your monthly budget saved for the rainy days.

bank-piggy7.       Precious metal always has and always will be an investment. Don’t wait to accumulate large amounts to buy something big – buy as you save, taking advantage of low prices.

8.      Getting a college degree costs a lot today. Imagine how high expenses would be by the time your kids reach college. Start with small savings but start today!

9.      Dream weddings demand perfect planning. Plan for your events five years in advance  — saving a little something every  month.

10.    Keep track of your expenses and savings on the go. Don’t forget to subscribe to your fund manager’s SMS and Email alerts.

11. Grocery shopping is fun but the total bill can be scary if you get carried away. Make a list in advance so you know exactly what you need. Before indulging, think: “Would I really use that?”

12. When you are living int he today, retirement sounds a long way off. Planning for your post-retirement years from today can allow you to perhaps quit work early and take up hobbies you’ve always wanted to.

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