Like us, children are also interested in saving money. Do you know all the money saving tips or different ways by which children can also save. If this habit remains with them, they can get maximum success in future?
Below are 13 ways which can help children as well as adults to save money
- Budgeting
- Make note in diary
- Need or want
- Home food
- Bulk buying
- Limit Credit card usage
- Late evening shopping
- Look out for sales websites
- Second hand buying
- Limit buying branded items
- Use public transport
- Live in sharing
- Sell out old items
Lets, discuss these saving tips in details :
Budgeting
First of all, you should make a budget for your expenses, this budget should be made every month and see what your expenses are.
By doing this, you will get to know in which things your expenses are high, so that you will try to control your expenses every month.Divide your monthly expenses into several parts. For example, here see what it costs to go out, how much is spent in shopping or how much does it cost to buy a book etc. After this, set some money in each category so that no more money is spent in any category than that amount. Making such a discipline always keeps the habit of saving money and this habit comes in handy even after growing up.
Make note in diary
Make a diary in which you write the details of your expenses every day. Even if that expense is ₹ 10, it must be written in the diary, even if it is an expense of 1000, by doing that, you will know how much money you have left with you and how much has been spent. This habit works even after growing up and used to prove helpful in saving money.
Nowadays, many such apps have come online in which you can write your daily expenses, it does not even require pen and paper, it is just installed in your smartphone and can be used anywhere anytime.
Need or want
Understand the need and desire, see if you have to spend money to buy something, then whether there is really a need to buy that thing or not. Will it work without buying that thing or not?
Home food
These days, most of the expenditure is done in eating outside, it is harmful for our body and our money is also spent. Try to cook and eat mostly at home. Home cooked food is also beneficial for our health and also saves our money.
Bulk buying
It has been seen that if we buy any item in more quantity, then its price comes less. See what are the things that we have to buy every time, try to buy them in bulk and save money.
Limit Credit card usage
We should protect children from the use of edit cards from childhood. Often we do more shopping with the help of credit cards due to which we keep paying this amount every month and our expenses keep on increasing.
Late evening shopping
Try that we often go shopping in the last hour of the day, it often happens that clearance is hot in the evening and the closing time of the market is hot. Remember, if we shop at this time, many such items will be available at a lesser price, which will save our money. We should also inculcate the habit of our children that shopping should always be done last. Even if we are unable to make purchases due to some reason, our money will be saved.
Look out for sales websites
There are many such websites where there are sales available from time to time and goods are available at discounted prices. You need to keep an eye on those sites where the sale is available. This will also save your money as well as your time when you go out shopping.
Second hand buying
There are many shops and online stores where second hand items are available at very low prices. By finding such shops, if we buy items from there, we can save our money. Items like second hand books, branded clothes, cupboards or any kind of furniture are the kind of items which are used second hand with saving money.
Limit buying branded items
It is seen that often we spend more money behind branded things. While sometimes it also happens that there are such local things which are better than branded things. It is not necessary that every local thing is bad or of low quality. Even a local item can be of good quality and cheaper too. Please buy these items to save money.
Use public transport
Use public transport more and more. Instead of taking a personal car, use public transport services like bus, auto rickshaw etc. These are much cheaper than our personal vehicles, which ultimately saves our money.
Live in sharing
If you live alone on rent, then try not to stay alone, let it be friends or share it with more people, maybe 2 or 3 people. This will share the rent among more people and you will have to pay less money, which will save your money.
Sell out old items
There are many things that we either stop using or they become old. Try selling these items either online or to any needy person. This will save our money.