6 Best Money-Saving Tips for 2021


Everyone in their lives has tried saving some money but most of them have failed miserably. Saving money looks extremely easy, but not everyone can save with such ease. It is a dream for many to save enough money to go on a pleasant vacation. However, it’s 2020, and saving money is still a challenge. It is very important to save every small bit of money, but people need to understand that saving money needs to be a smart move. Sometimes, people tend to save money in small bits but spend the majority amount. This is not what saving should look like. Saving is when you spend little and try to save up the rest of the amount in smart ways. We will list some tips on how you can save smartly and then possibly brag about it.


1. Set Money-Saving Goals

One of the most efficient techniques is to saving smartly is to set goals on how much you wish to save. What most people do is that they don’t set any specific targets and end up not saving at all. If you want to save enough money, you should consider setting a target for yourself. If you earn S$20,000 and wish to save up S$12,000 by the end of the year, then you should be able to set aside S$1000 every month. This way, you have given yourself a goal and a time limit to abide by. Due to this goal, you would now want to take your money-saving seriously and will also be initiating a smart move in saving up effectively.


2. Save in a Bank That Will Give You More Returns

You can add an icing on the cake by actually saving in a bank which will give you higher returns. This will give you a victorious feeling of achieving something great. If you are planning to save sufficient money as per the set goals, you can open a savings bank account where the banks pay you interest on your savings. This way, you don’t just save the expected amount but also save an extra amount which was originally unplanned. The banks pay you interest based on their interest policies. So when you are planning to save money along with the interest, you should research several banks and check the interest rates that they are offering. This way you get to know about various banks in your proximity and save your money in a bank that will give you more returns and thus help you save more.


3. Distribute Your Salary Ideally

When your salary is credited to your account every month, make sure that you make ideal partitions of your salary. Distribute your salary ideally for saving, shopping, paying rent (if any), paying utility bills, etc. This will not only help you to save a consistent amount of money every month to your bank account but will also teach you the basics of money management. With the help of this money management, you will also know whether there are areas where you are engaging in unwanted expenses. Apart from this you will also be able to pamper yourself once in a while. This doesn’t mean that you can go clubbing or partying every month. Pamper yourself once in a while so you will also be able to take a bit of an advantage of the perks of saving and money management. Hence, ideal distribution of salary will benefit you in various ways.


4. Pack Your Lunch to Work

We are so accustomed to the concept of spending money on food in general but most of the times when at work. We don’t realize that so much money just slips out of our hands if we buy lunch even 15 days a month. Make enough time for yourself in the morning and cook yourself something so that you can carry your lunch to work. Packing your lunch to work will only make you sacrifice an extra hour of sleep. But doing so will undoubtedly save a huge chunk of your money which can be used later in urgent situations. Apart from this, this money every month can be your extra bit of savings.


5. Look for Discounts on Shopping and Entertainment

We are in the millennial era, which means we sure can’t keep ourselves away from the luxuries of shopping online, going out for gaming or movies and other sources of entertainment. But this doesn’t mean that we should be free to spend extravagantly on every purchase and entertainment. If you follow our tip of distributing and partitioning your salary ideally, that means that you have carefully planned your month’s expenses. So allot yourself a specific amount to spend on online shopping and entertainment if you have any such plans. Search for discounts and coupons and purchase through discounts. Some stores provide their loyal customers with coupons that they can apply during checkout while some are available online. Do thorough research and pamper yourself a little bit economically.


6. Make a List of Important Groceries to Shop

We can’t ignore spending on the very basic necessities of life. Everyone goes grocery shopping once in a while. However when we just pop in the store, we find many things that appeals to us which makes us regret at the payment counter. What you can do in order to avoid this is you can make a list of grocery items that you will be needing for that visit. This will also make your work much easier to buy only the listed items, and at the same time, will make you realize what exactly are the important things that you are dropping in the basket and what unnecessary items you are able to avoid.

Change your perspective about money saving as restricting your pampering needs. Think of it as budgeting yourself for a bigger picture. The saved up money will be your lifesaver in the needed times thus it’s an extremely wonderful habit to instill in yourself.

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