Tuesday, February 18, 2014

How to save money and get rich ?

How to save money and get rich ?

Money now a days is very important to all of us. Money can buy a good house for a living; delicious food for taste; fashionable clothes for good looking and so many things which we require in day to day life. 
  • Everyone is operating and earning money, but nonetheless over a long period of age he is entirely able to sustain his family need not more thanHe/she always thinks of the economical freedom life. How's it is possible he/she don't know throughout his lifespan. Its a everybody story. So how's to become rich with this same money with a little effort. Here I am discussing with you some of few tips how to save money and get rich.
  1. Take one part of your salary/earnings: We have so many expenses in every month. In this expenses we forget yourself. So firstly respect yourself and take some part of your salary and keep it in a saving box which must not open in any ways.
  2. SIP-Systematic Investment Plan: SIP is one kind of mutual fund. You can save a small part of money, whichwill become a huge amount after a particular period with no extra tension. Here at SIP there is no need to invest a big amount. You can invest as per your saving (e.g.: Rs. 500/- onward). SIP is one kind of investment which works on Rupee-Cost Averaging and the Power of Compounding. It's a disciplined saving, long term gain, flexible and convenient to all who cannot invest a huge amount.
  3. Always keep in mind Saving + Investment = Growth
  4. Life Insurance Policy: Insure yourself by taking a life insurance policy which will also a saving.
  5. Don't use credit cards: Masses who are utilizing credit cards for purchases end up expending more money than people who use cash, on average. So break up or say goodbye to your credit cards.
  6. Don't believe in short-cut methods like purchasing of tickets, lottery etc.
  7. Use coupons: Using of coupons for the purchasing also a good method of saving. But try to avoid too much coupon.
  8. Monthly budget: Make a monthly budget and try to stick with that.Monthly budget covers all your expenses like food expenses. Try to purchase in bulk, which will come with some discount.
  9. Fun outside: Include some amount in your monthly budget for your fun or leisure outside once or twice in a month. Try to reduce it minimum in a month. Can visit gardens or Museum with home made food to save money.
  10. Try to avoid vehicle for a short distance. Make a habit of walks which will also keep you healthy.
  11. Try to avoid junk food as it attracts fats and diseases and invite doctor/gym/fitness center to keep you healthy. Try to cook everyday at home. 
  12. Keep watch on your utility bills: Always tract your water, electricity and telephone bills. Wherever possible work on "SAVE WATER SAVE ELECTRICITY" policy. And many more which will added time to time....Have a good day. Keep saving.

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