6 Tips To Save Money In Day-To-Day Life

By BankBazaar | June 14, 2016

6 tips to save money in day-to-day life

Who doesn’t like to have some extra cash in hand? But what if we say you don’t have to slog overtime to earn that money? All you have to do is SAVE. We know the word ‘savings’ can cause worried wrinkles on your forehead. And we can almost hear you saying, “Saving is easier said than done”. The truth is that even though we all know the importance of saving, we find it too darn hard to save money.

Building savings is not such a toughie if you implement these simple tips to save money in day-to-day life. Here are 6 ways you can do it:

Online Shopping
Yes, that’s right. Something as simple as online shopping can help you save money. With vegetables, groceries, electronics, clothes and all other essentials readily available online at
discounted prices, it is wise to shop online. However, it is important that you do some thorough research about the prices of all these goods offline before you order online. Use comparison sites such as pricedekho or compareraja, which help compare prices across e-commerce sites. Sometimes, (just sometimes), delivery charges for online orders can make it more expensive as compared to offline shopping.

Carpooling
Driving your own car to work is a great feeling – what with being able to avoid the headache of haggling with unwilling autorickshaws or jostling for space in a crowded bus. It’s time to make it more fun. Carpooling is a trend slowly catching on and it will help you save a lot of money. Apart from reducing pollution and traffic, carpooling will lower your fuel cost to a great extent. With a steep increase in fuel prices, carpooling can be a wise person’s way of saving money. There are sites like BlaBlaCar that offer ride sharing. Even popular cab aggregators like Ola and Uber offer you the option to share rides. That’s money in your pocket right there.

Buy and sell secondhand products
Throwing away used goods and products has been the norm in our society till now. Earlier, buying secondhand products was frowned upon. But nowadays, buying used products is not just socially acceptable, but also a wise decision. Secondhand products are cheaper than the new ones and so they are lighter on your pocket. Similarly, instead of throwing away the stuff you don’t need, you can sell those goods and enjoy a little extra income. There are plenty of websites and social media pages that promote buying and selling of used goods. Did you know that Amazon is poised to enter this secondhand buying-selling marketplace too? More competition in the resale space is good news for you.

Use Cashback Credit Cards / Debit Cards
Cash back is extremely popular among Credit Card and Debit Card users. And why not? Everyone likes to get some money in return for the purchase they made using cards. Choose your Credit Card wisely to make the most of various offers and cashback schemes. We bet these are the kind of savings shopaholics will love. You can get offers on hotel bookings, movie tickets and discounts from online and offline merchants. You also get reward points for all your spends that you can exchange for goodies.

Purchase from wholesale stores
If you’re sceptical about online shopping, how about purchasing products from wholesale dealers and factory outlets? It’s less expensive compared to shopping at full-price branded stores and don’t forget the summer, clearance or end-of-season sales!

Spend on what you need
To build savings, the most essential habit to cultivate is controlling your expenditure. If you choose to shop for the things you NEED rather than the things you WANT in day-to-day life, you are more likely to save money. We believe it’s the most effective saving technique. It just takes a little bit of discipline. Really, that’s all it boils down to.

If you’re in the market for a loan or Credit Card and would like to save big at the same time, BankBazaar is where it’s at. Go on, have a look around.

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Category: Budget & Savings Savings

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