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We all know the joy of spending money until the next payday. Right? When we reach the last week of the month while spending carelessly we go into a panic mode when we finally realize that we are broke 🙁 While we don’t realise that we are not apt with our spending habits and feel that it’s never going to change. As I wanted to turn things around I found few ways to stop running out of money before the end of the month. Believe me, by following these tips I now survive the whole month without getting broke. So, sharing with you my spending strategy.
Avoid ordering food
When the bug of hunger bites you late at night or any other time during the day you end up ordering food online. Instead of blowing your salary on cravings, learn some easy recipes and cook meals for yourself.
Keep a track of your expenses
Keep an eye on all your expenses. Keeping a tab on expenses will make you aware of your spending habits and lets you curb unnecessary spending.
Say No to credit cards
Using a credit card can result in overspending. Avoid using credit cards unless it is very important. Even if your bank offers various free schemes you remain firm in your decision.
Make right investments
Learn the magic of investing in the right direction so that you have a decent sum by the end of the year. You can invest your cash in a simple PPF, tax-free LIC investment or just save it.
Sharing is caring
Our world is incomplete without Netflix, Amazon Prime, and other streaming sites. Taking a solo subscription is indeed expensive and thus I have found out a great way. Share an online subscription account with your friends because sharing is caring!
Switch to Prepaid Mobile Plans
When you remain on a postpaid plan it is difficult to track the usage until the bill comes. So, if you want to save money switch to a prepaid plan. 99% of the time you end up saving bucks in prepaid connection.
Make a list before going on a shopping
When you step in a supermarket full of materials you end up buying impulsively. If you want your bill to stay in your control make a list before going to a grocery store.
Spend time in making a monthly budget
Before you step in a new month, try to prepare your next month’s budget. If you will spend according to your budget you be saving more & more money
Avoid buy 2 get 1 free deal
When you buy anything in an offer like buy 2 get 1 free, you end up spending double amount than you were supposed to. And let me tell you a 100% cashback deal means just a 50% discount. So, stop getting trapped in a web of such offers.
Become a smart shopper
We all love shopping but before you buy any product online follow some tips to save money like comparing the prices and shipping charges, look out for additional cashback or use wallets for online transaction.
Online booking For Travel, Hotels, and Movies
When you do booking online you can save a good amount of money by doing transactions through credit cards, wallets, and also don’t forget to use discount codes to save more!
Keep your money in a good saving account
Keep your money in a savings account of a bank that offers a great interest rate. In this way, you won’t go broke by the end of the month.
Don't spend more than you intended
It is easy to get carried away when you go out for shopping or to binge with a group of friends. Before ordering you keep your budget in your mind. This way will be worth it as you will save some money by the end of the month.
Commute with Public Transport
When we don’t have our vehicle, we rely on Uber and Ola for everyday commutation which is of course expensive. To save hard-earned money you can invest in cab passes that offer discounts. You can also take a pool cab or convenient public transportation to reach your work destination.
Stop smoking or buying a cup of coffee every day
What seems like a small expense at the beginning of the month can cost you 3000 to 4000 bucks by the end of the month. So, limit yourself from buying a cup of coffee or a packet of cigarettes.