Personal Finance 101: Save More Money Without Even Realising It

By | March 15, 2022

Although money management is such a simple concept yet saving money can be quite demanding and strenuous. With many unwanted expenses waiting to happen and a million distractions vying for attention, your wallet pays the price.

Lifestyle Changes To Retain Post Lockdown If You're Looking To Save Money

The ever-entertaining streaming/OTT media services, splurging at your favourite retailer, binging at the café you frequent the most or an unplanned staycation, these distractions are definitely hard to resist. If you are on the look-out for money-saving tips and tricks, beyond the usual “don’t splurge,” read on to find out! 

Avoid Impulse Purchases Online 

What’s one way to snag a good deal? Yes, it’s online shopping! With awesome perks like free shipping, discount coupons, and the ability to shop from the comfort of your home, online shopping also leaves no stone unturned when it comes to breaking your budget and hard-earned savings! So, what can you do about it? One simple solution – Don’t use autofill for saving your payment information while shopping online. Although autofill simplifies your shopping experience, it also facilitates unnecessary spending.  

Additional Reading: Confessions Of A Shopaholic | How To Curb Your Spending Habits 

Delete The Cookies On Your Browser 

While browsing the web, cookies can be beneficial as they keep track of products saved in your shopping carts and save your details like login credentials, preferences and more. You don’t have to enter your information every time. But it also poses a risk every time you browse for something online – you are bombarded with ads – be it a pair of your favourite Nikes or simply an espresso machine you’ve been contemplating over. Deleting browser cookies on a regular basis can keep these distractions at bay.  

Your Lowest Paycheck Is Finally Worth It! 

Living paycheck to paycheck? STOP! Try living on your lowest paycheck and transfer the remaining amount immediately to a savings account. You can invest the same in a recurring deposit or a fixed deposit – just ensure you will never touch these savings unless absolutely necessary. 

Additional Reading: 5 Surprising Signs That You Need to Re-Evaluate Your Financial Planning

Subscription Services – Boon Or A Bane? 

Yes, you need Amazon Prime. Yes, you need Netflix. Yes, you need Hotstar. But do you still need cable/DTH? Go through all your subscription plans and cancel the ones you don’t use anymore. It may seem like a small cost incurred every month – but the reality is far from that. In hindsight, you can actually save a lot!  

Set A Limit On How Much You Can Spend 

This valuable advice cannot be stressed enough! A spending limit can definitely help you stay on budget. For all your monthly transactions, be it your local grocery store or your impromptu shopping sprees, setting a daily or monthly limit on your debit and credit card transactions will ensure you do not overspend on frivolous purchases. This can simply be done through your bank app or via internet banking. 

Buying in Bulk Doesn’t Always Save You Money 

Although bulk purchases seem like a smart option, you often end up stocking up on perishable supplies which is more of a loss than gain. Do not give in to temptation and load up on stuff that can potentially go bad in the longer run. Opt for stuff like kitchen rolls, toilet rolls, etc. instead. 

Make Decision-making Simple And Manageable 

Are you someone who procrastinates even the simplest of things like booking a plane ticket or a hotel room for an impending trip? Stop procrastinating! The chances of prices getting cheaper later is hardly ever the case. Do not rely on last-minute offers or deals. You will end up spending more money, rather than saving. It is more feasible to plan and pay well ahead in advance.  

All of us strive really hard to earn money, but when it comes to saving it, we often become negligent and throw all caution to the wind. It is time to reap in the benefits of saving for rainy days before they happen or simply to upgrade your lifestyle in a more feasible way. You can also leverage a good Credit Card by opting for one which is lifetime free. You have an extra bucket of funds to dip into for big-ticket purchases which you can pay off in installments – read No-Cost EMI offers. Your Credit Score can also benefit from these transactions. Just ensure you make payments on time and do not default.


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Category: Money Management

About Sanjana M

An avid reader of non-fiction, Sanjana enjoys writing poetry and visiting antique book stores. Apart from being a bibliophile, Sanjana also enjoys thrifting and upcycling vintage furniture.

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