If you do a job, then it is very important for you that in every month’s income, you should keep some part in your savings, but it has become very difficult during inflation, so if you are interested in saving then this blog is for you. Because in this blog you will be told about 7 best ways, so that you will be able to save some amount in your monthly income.why saving is important
Today I will tell you some such ways by which you can save more from your salary every month, for that you do not have to make huge sacrifices and in this way your lifestyle will not make any difference and save with convenience. Will go
“No one can stop you from getting rich if you spend more than you earn and invest your savings in the right way! – Charlize Manger”
Let us know 7 pro tips and tricks to increase savings every month from salary-
- Cost of 2 cups of tea or 2 cigarettes First of all, we will talk about why it is necessary to increase the savings. Suppose you are able to save only ₹ 30 per day, then every month you can save ₹ 900. Thus ₹900 saved every month will become a huge sum in your life in the long term and will help you when you need it the most. You can do this very easily. You can easily do this by drinking two cups of less tea or by drinking less cigarettes. The ₹900 you will save by quitting these two cups of tea or 2 cigarettes, you invest it in a good mutual fund through SIP and if you get 15% return every year, then you will have about 160000 rupees in the next 20 years. capital will be This 15% return can easily be achieved by doing SIP in any index fund like Nifty and Sensex Index Fund. Better returns can be obtained with less risk in index funds. This 1600000 rupees can help you to buy children’s education or car at that time, all this can be obtained in the cost of just two cups of tea or two cigarettes.
- Disciplined use of credit cards Credit cards provide you a plot of approx 40 to 45 days. That is, if you made a purchase with a credit card on the 1st of this month, then you will not have to pay any interest till the 15th of the next month. You can use the credit card according to your convenience by being disciplined. In this situation, you do not need to take a short term loan. This 40 to 45 day interest free loan can help us a lot in saving.
- Benefits of a good loan Many people say that loan means stay away from debt. Whereas the truth is that stay away from bad loans and definitely use good loans. For example, personal loan comes under the category of bad loan as the rate of interest can be very high i.e. 13 to 25%. Whereas home loan comes under the category of good loan, it also has low interest rate and tax saving facility is also available. Credit card comes in the category of a good loan if we use it with discipline.
- Better tax planning While doing tax planning, we Indians invest money in random schemes to save tax, due to which we may have to face some more loss which is not visible at the time. There are some people who do not do any tax planning and pay full tax. Whereas some exemption has also been provided by the government, due to lack of information, people forcefully give extra money in the form of tax. Like you all know about 80c that tax exemption is available on taking mutual funds, life insurance bonds, etc. Similarly, tax exemption is also available on Leave Travel Concession, many such tax exemptions have been provided by the Government of India, due to which they pay more tax due to lack of knowledge. By knowing these smart ways, we can get the benefit of tax exemption given by the government and increase our savings.
- Tip yourself – When we go to restaurant, we go to hotel, we give tip to driver or helper. But we never give ourselves tips. From today onwards, our advice is that whenever you do a good deed, you should give yourself a tip i.e. reward. You can submit the book which can help in increasing your savings. Whenever you spend something, at that time also you should tip yourself some rupees. You can keep this pooled fund as an emergency fund for yourself as well as invest in a good debt fund or gold ETF in an asset class with low risk.
- Benefit from GST claim- If you have your own business then you must have your GST number. In such a situation, do not forget to take GST invoice while buying your regular expenses like mobile laptop cooler or any machine etc. Due to all this being helpful in your business, you can claim 12 to 18% savings by claiming GST on it. That is, in this way you can get a discount of about 18%.
- Don’t go shopping when you’re hungry Don’t go shopping whenever you are hungry. This is because when hungry, due to restlessness, buy more things and buy quickly. Which can be unnecessary and can also be expensive. In this way, go shopping only when you are not hungry.