“Someone’s sitting in the shade today because someone planted a tree long time ago”, this famous quote by the oracle of Omaha, Warren Buffett holds a true essence to its crux. If you were born in a middle-class family then you must have heard your parents constantly nudging to save money on every little something, and telling you about the importance that money holds in your life. Unless you were born with a golden loaf!

We truly understand your inhibitions to splurge when you get that credited salary alert or receiving that year-end bonus. But by giving a ground to your gratuitous spendings with a pretext of maintaining a flamboyant lifestyle is the worst financial mistake. If you have experienced life then you know that money doesn’t come easy, so why waste all your hard work just to feed that extraneous want? Savings not only would help you on rainy days but would also enlist you in good financial habits. Imagine! Waking up to a huge pool of amount that you saved earlier in life that would finally help you afford that dream vacation. Now, you might be wondering about the ways in which you could save money. Right? We have got it all covered, sit upright and read on to know about the ways to save money- Daily, monthly and long-term. But since we have come up with an indifferent perspective, we can’t be surer than what is defined by nature.

Daily savings

What’s better than saving a little something on that grocery bill, a dinner date with your partner or that movie ticket. Wondering how? Follow some tips below and find out for yourself.

≡ Use cashback sites :
Use cashback sites to make purchases, and save on that amount you incurred. One of the most popular and effective tools is using cashback sites and making most of it. Find an app or a website and go get that deal that you have been savoring up for this all time. Such websites tie-up with a brand to access a wide consumer base. So, why stop when there is finally one such neighbor who is willing to give you something in return for that purchase

≡ Go the DIY way:
Go the DIY way and notch up your creative side. Why purchase that extra stuff when all you need is an internet connection and a sprinkle of a creative side to build something from nothing. Use DIY sites and create something unusual at less cost.

≡ Prepare for that grocery battle:
Indulging and coming out victorious in that grocery battle might seem hard, but it’s not when you’re loaded with precise weapons like discount coupons. Once you have made up your mind, look for groceries online and then use coupons and other loyalty programs to maximize savings.

≡ Plan out your major purchases:
It’s essential to carefully consider every aspect when going after big players like furniture, electronics etc. Popular e-commerce portals like Amazon, Alibaba is always up to provide huge discounts on such investments. Look for days like Cyber Monday, Black Friday and save a huge chunk of your money.

Monthly savings

According to the cost of living index, the cost of living in metro cities is increasing at an unnerving pace. While Bermuda sits on top, countries like UK, USA, and India are not very far from claiming that crown. With this increasing rate, it is of paramount importance to ensure monthly savings.

≡ Time to create a budget:
It’s time to create a budget and adhere to it. This is a no-brainer if you want to save money, you need to understand your cash inflows and outflows. Keeping a visual check on your spending will help you understand your financial standings and will make savings much easier. Use budget apps and keep a close eye on every expense.

≡ Negotiate your rates with credit card issuer or go for a balance transfer:
The freight of increasing debt in never-ending. And If you too are encompassed by paying interests every month then don’t hesitate to negotiate rates with your card issuer or going for a balance transfer. Both would help to pay-off that debt easily.

≡ Use public transport:
Try to use public transport when heading out, more often than you do now. Crude oil prices are taking place once more, which means a rise in domestic oil prices too. You can save on the cost incurred on gas, by simply choosing public transports as a medium. Or by going for credit cards with fuel surcharge waiver facilities. You would also be helping our planet to fight against climate change.

Long-term savings

Whether you’re planning to achieve financial success or owning a family, long-term savings can come in handy. Read on to know some few tricks to save for long-term.

≡ Setting financial goals:
Setting financial goals is the foremost step towards long-term savings. It’s important to ask yourself why? And How are you planning to save? Keep a picture in your mind and then act upon it. This would significantly reduce undesired expenses.

≡ Choose the best tax-saving schemes:
It doesn’t matter if you’re a salaried professional or owns an entity; a tax can eat up a huge chunk from your holdings. It’s better to understand the different tax savings schemes and act on it, rather than waiting around.

≡ It’s time to limit your debt:
If you’re finding it excruciating then you can go for debt consolidation way. Consolidation would help you to pay that outstanding amount easily and would exhibit the pathway to greater savings.

≡ Invest in assets:
The best way to save money which can yield returns in long term is to invest in assets and let the money work for you. Go for a government bond or a mutual fund scheme for annual compounded returns and enhance your savings.

We’ve done our part in enabling you to save money at every step in your life. Your part begins now! Follow these few tips and tricks to light up those savings, as wealth and financial success can only be accumulated by frugality in savings.