Salary Saving Tips: Amit used to make his budget every month but even in the last few days of the month his salary was completely exhausted. The condition of many people in our country is similar to that of Amit, who think of saving their salary every month, yet are unable to do savings and investment. If your salary is completely exhausted then by adopting some small habits you can become rich for life.
These tips are not rocket science, but a sound strategy. In a YouTube shorts, finance expert Ankur Wariku has told 4 such ways by which you will be able to control your money. Besides, your savings will also be done properly every month.
48 hour cart rule
The first method is – (48 Hour Cart Rule) By using 48 Hour Cart Rule, your money will be easily saved every month. Nowadays everyone has become addicted to online shopping. As soon as we open Flipkart, Amazon, Myntra, Meesho, we see a sale and we immediately start adding things to the cart. But in reality, we do not need half of those things. The way to stop this over shopping is very easy, put whatever item you like in the cart, but do not buy it. Wait for full 48 hours i.e. two days. After two days, see again whether that thing is really necessary. There is a 90% chance that you will empty the cart yourself. With this one rule, the wasteful expenditure of the month was reduced by more than half. This method will put brakes on your emotional purchases.
Create a Gift Account
Another great way is a gift account. Every month there is some birthday, anniversary, wedding or celebration. This affects your pocket also. Save five to ten thousand rupees separately so that you can give a gift or throw a party. If you keep putting a little money from your salary every month, say two-three thousand rupees, in a separate gift account, then a good amount of fund gets generated in a year. Whenever any happy occasion comes, you will be able to give gifts without any stress. With the help of this account, you will not have to borrow from anyone to give a gift. No need to swipe credit card.
UPI Fast
The third method is UPI Fast. You might be making UPI payments several times a day. From tea vendors to Rapido vendors, you can make instant payments through UPI. Tea worth Rs 10, Samosa worth Rs 20, Rapido fare worth Rs 50, you do all this through UPI and you don’t even remember how much money you give in a day. You might be spending Rs 500-600 like this in a day. Therefore, keep UPI fast one day a week. Use only cash on that day. If you have two-three thousand rupees in your pocket, you will understand the calculations. In the evening, when your pockets become lighter, it will be clearly visible where your money has gone. You will feel bad for spending cash instead of UPI.
buy it twice
The fourth and most important rule is buy it twice. That is, if you want to buy any expensive thing, first check whether double the price of that thing is lying in your bank account. That means, if you want to buy a phone worth Rs 50,000, then you should have full Rs 1 lakh. If you don’t have Rs 1 lakh then never buy that phone on EMI. EMI is easy but with interest it becomes doubly expensive. This rule applies to mobile, laptop, fridge, bike etc. With this, you buy only those things which you can really afford.
These are four small rules but if you start following them wholeheartedly, you will be surprised to see your savings in two-three years. In this you will not have any hassle of investment, nor the risk of share market, you just have to invest your own earnings in the right place.
(Disclaimer: This news has been published for informational purposes only. If you want to invest money in any of these shares, then first consult a certified investment advisor. StuffUnknownwill not be responsible for any profit or loss of yours.)
