Money matters a lot and we all know that saving money is the most important thing in our life. In this article, we will discuss the top 7 ways to how to save money from monthly salary. So let’s find out.
7 best ways how to save money from monthly salary
We all are familiar with saving money in different ways. If you are a salaried person then it’s most important to save money from your first salary itself.
Though it’s a bit difficult to do that, we will discuss some of the advanced and smart ways to save money from monthly salary.
Avoid spending on credit cards.
We got excited when we receive our first credit card along with our first salary account. People Spend their first salary on branded clothes, watches, gifs for our loved ones, parties in restaurants, etc.
This is because we got excited to spend a lot.
This makes an impact on next month’s salary when the entire salary is going to be used as the credit card bill.
If you have started working recently so do not take the credit card during the first year.
If you got the credit card then try not to use or minimal use. After the first year, you can choose the credit card which has a cashback plan or card which has a good pint on spending.
Open a separate saving account
People often use one bank account which is also their salary account. Which is a little difficult to track all your expenses. If you want to save your money then you need to open an online bank account and transfer an amount to save.
The online accounts generally come with a higher interest rate and do not have any physical debit cards. So one the money is transferred to this account then you will feel a little difficult to use that money.
Make food at home
Making food at home is a good habit. But most of us do not do and give an excuse about less lime, not proper instruments to make, could not do it because of less cooking skill etc.
So we depend on the canteen, online food delivery apps, restaurants and shops. These foods not only are expensive but also unhealthy.
If you want to save money for your salary then you need to cook the food at home. You need to cook as tasty as the restaurants and canteen but it could be healthier.
Cooking is not a difficult thing to learn. You can learn from many YouTube channels and TV shows to learn simple healthy recipes for breakfast, lunch, dinner and snacks etc.
Cooking at home not only save money but also make you healthy.
According to a study if you cook your own food then you will eat less and do not waste the food.
You can also take the coffee form your home instead of taking office at the coffee shops for the coffee breaks.
Avoid using own vehicle
Most of use our own vehicle during or travel to the office or for daily routine work. Some people use online cab services for their official travel. This is not only expensive but also creates various traffic problems like long traffic congestion, environmental pollution, sound pollution etc.
So to save money for our salary we must use public transport. This not only save money but also save our environment.
Many cities now operates the electric transport systems which are much cheaper but also save our environment.
You can choose the monthly pass or card for the metro train or BTS. This will save your money from your monthly budget.
Bulk Purchase during discount.
Almost every company and supermarkets bring yearly discounted sale once or twice in a year. This sale is to clear their stocks and unsold items.
Such discounted maybe form 5 to 50 percent. Some times it goes up to 70 percent. If you buy your house items in such sale time then you could definitely save a good amount of money.
Also read: How much money should you save
You can check the offers form Online shopping websites also.
You need to check the expiring dates, quality of the packaging, warranty/guaranty, return policy (if you buy online) while buying during such sale.
Enroll in Membership cards
Membership cards come with an annual membership but bring so many discounts in various retail stores, online shopping portals, flight tickets, online or TV recharges Etc.
Find the best membership cards available near your city or locality. This will definitely save your money in between 3 to 10% of your money annually.
Quit unhealthy habits
Smoking, taking alcohol regularly could make your health in problem. Smoking increases the chances of cancer and other respiratory problems. Similarly taking alcohol regularly also could bring the bad conditions to your health.
Taking processed food, fast food also in unhealthy habits.
If you want to save money then you need to quit such unhealthy habits.
I know there are many money-saving ways to save your money but these 7 best ways how to save money from monthly salary help you save more money and creates a better lifestyle and creates a better environment for our future.