Feb 22 2014

Money saving Tips

Posted by admin in Uncategorized

Money saving is the most significant to lead a balanced life. It’s in fact, more important when you are drowned in debt and having issues with the repayment. Whatever be the reason behind your loans, you must make sure to be particular with the repayment to eliminate any chance of the bankruptcy in your life. The post here offers some excellent money saving tips.

Save money-

You must allot at least one-third of your monthly income for the savings. Create a savings account in your bank and make sure to deposit a sizeable mount every month to ensure no mindless cash flow from your wallet.

Reduce unnecessary extravaganzas-

You must cut down on unnecessary extravaganzas to ensure a financially safe lifestyle. This point is more important when you are in debt. So, try to limit the restaurant visits, clubbing and partying to once a month rather than almost every weekend.

Maintain a budget chart

You must follow a budget chart that will show up with separate expense categories according to your needs. For example, there should be the primary column covering the mandatory expenditures every month, an emergency column for the sudden unavoidable expenses, the secondary expenditures and the tertiary ones. This will help you to understand where to allot the money first so that the primary things do not get missed out for the tertiary ones. Budgeted expense is one of the best money-saving tips.

Save energy

You must make sure to switch off the electronic goodies at home to save on unnecessary energy use that otherwise eat up a huge share of your expenditure every month.

In case, you are in debt, you can save your repayment dues by 10 percent through Protected Trust Deed. These are legally binding agreements between debtor & creditors where the latter writes off the 10 percent due if the former pays up the 90percent within the stipulated time frame.

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