Hey! It’s 26th of the
month and am sure most of us would have started waiting for the salary to shed
off our liabilities. We often suffer from the “month end” crisis, isn’t it? By
the time we reach the last week of the month, our pockets would have gone
empty. Is there any way to protect our self from the month end crisis? Even if
you are not among the sufferers, here are some tips to
help you save more money.
• Carry only small amounts of cash in your wallet so you
will not spend it. (Yeah, the behavioural finance says so!)
• Use direct deposit for your paycheck or other benefits,
such as Social Security
• Control your use of credit cards. (And control means STRICT CONTROL)
• Do not go shopping just for fun.
• Buy only what you need – do not buy things just because
they are on sale.
• Use coupons to save money
• Use a grocery-shopping list to prevent impulse buying
• Take your lunch to work instead of eating out
• Shop around to get the best deal on big-ticket items like smartphones
and appliances
• Control your expenses on alcoholic drinks/ cigarettes and the weekend parties
• Pay your bills on time to avoid late fees, extra finance
charges, utilities being turned off, eviction, repossessions, and the costs of
a bad credit rating
And the most important: Have minimum balance in your bank
account else it may get deducted ;)
Happy Investing!
