On the art of saving

1. Become a Member of the Local Drug Store Chain for Discounts on Prescriptions.

I have a membership of the ‘Noble Chemist’ – I save as much as 8-10% on every purchase of medicine. Also, don’t forget to check on the Generic Medicines at cheaper prices.

2. Ask for an Upgrade – Don’t book them

Use this as your final card: Reserve a standard car or room, and then politely ask for a free upgrade when you arrive. If they have one available, it’s usually a pretty easy score.

3. Gym Membership Savings

Some health insurance plans offer reimbursements or discounts on gym memberships. Benefits vary by provider, so check with your insurance to see if you’re eligible.

4. Save the Rainwater

Installing a rain bucket to provide water for your clothes, plants can save you and everyone around you a bucket full of money on your water. Conserving water is always the eco-friendly thing to do.

 5. Delete Your Credit Card Number from Your Favourite Websites

Many popular e-commerce websites – make purchasing far easier if you keep your credit card number stored on their website. While it’s convenient, it also makes it much, much easier to make an impulsive purchase … such as a Kindle ebook, for example. Also, the monthly purchases like Netflix Subscription are deducted every month.
My solution was simple. I just deleted my credit card number from a few online sites so that it became much less convenient to order also my Netflix subscription sent me an email to pay money, Instead of deducting it from my account.
How Much Did It Save? Over the following six months, my personal spending dropped by about Rs.500 per month, which adds up to about 6000 Rs. per year. I didn’t really skip out on buying anything that wasn’t a lasting desire, either – I just skipped out on a bunch of impulse buys. I went from often going over my “free spending” budget item to never even coming close to it.

 6.Stop Using CARDS – GO CASH

You’ll end up spending less. Keep ATM Days for yourself to withdraw the money you are going to need. For Example, if my expenses are 12000/- a month, I withdraw in 2 parts. First 6000/- on 5th of the month and other 6000/- on the 20th of that month. So my money is equally distributed.One of the reasons to go cash is that it becomes difficult to give cash to vendors.

7.Decide to love one currency note. Save it.

Notes like Rs.50,20 are used seldom.It helps in multiplying the savings by 50 or 20, every time I save it.  I now have almost 200 notes which add up Rs.10,000/-.

8. Renegotiate Every Single Bill

If you get a bill in the mail, chances are that one of two things are true about it. One, it contains a bunch of seemingly random fees that you aren’t sure about. Two, it consists of a bunch of specific purchases (i.e., credit card bills and bank statements).
Both of those types of bills are incredibly useful because they’re the key to unlocking a lot of savings.
For the bank and credit card statements, take a moment to pore through them and see if there are any charges that are incorrect but also if any of the charges now seem pointless. Are you charging a subscription fee for something you rarely use? Cancel that subscription. Did you buy something that you now regret? Change your habits. Your statements can trigger those changes.
For the other bills, spend some time figuring out what all of the charges on your bill actually represent. Are they for services you don’t use? Are they extremely vague “fees”? In either case, a call to that company is in line. Ask for those unnecessary fees to be removed.

9. Keep track of who owes who money in your household.

 Splitwise

In the app, you can create a group for your friends. From there, you can all enter things you paid for. At the end of the month, or fortnight, you can settle the balances and get a total amount owed.

10. Switch To Prepaid Mobile Plans

My first mobile connection was a postpaid plan. I realised that I was a fool. I was overpaying to the company.
  • It was difficult to track the usage of a postpaid plan until you get the bill.
  • Sometimes you activate unwanted paid services
  • Over usage of paid internet, data can cost you as much as 5000 rupees per month.
I switched to prepaid, because.
  • You pay no service tax on prepaid recharge and get full talk time.
  • You get better deals on prepaid mobile
  • If you go out of town then you don’t have to recharge prepaid
  • You can keep multiple prepaid sims to avoid roaming charges if you travel in different states.
I stayed on a single prepaid plan until my data usage became 1GB per month. There was no prepaid plan that was offering me best options to stay under 500 rupees per month bill for my usage. Now I am using two sims for optimising my expenses.
In 99% cases, you will save money in prepaid connection.

11. Save The Change 

Yes, that’s basically it! Just keep the change from every expense you’ve made, whether it maybe in notes or in coins. Money is money. Putting coins in a tray or any other container will do the trick. This method has been already used even before. Just drop every extra money in your savings container.
Then, every month or three, try counting all that you have saved. Most of you will be surprised by it.

 

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