A rupee saved is a rupee earned, the next generation of millennials are slowly waking up to this old adage. The value of any product or service is not fixed but rather determined by factors of availability, cost of production, and desirability. Marketing agencies try to generate demand for a product through advertising and most consumers end up making impulsive purchases. To save money you must first learn to control your impulses and develop strong willpower.
Techniques To Save Money Daily
We have identified and listed five techniques used by smart, tech-savvy people to save money on the Internet and in real life. If you inculcate these practices into your daily life, you too will be able to save thousands of rupees every month. The cost of living is increasing every day because of galloping inflation, as a result, the purchasing power of the rupee has decreased. What used to cost Rs 100 today will rise to Rs 200 in 2-3 years, hence you must plan for the future and save for a rainy day.
Many housewives and students now work from home on the Internet to generate a side income to supplement the earnings of their spouses and parents. As the number of Internet users grows in India, you will find better-paying jobs online. If you haven’t yet started making money online check out this article on generating an online income.
5 Techniques To Save Cash Online
Instead of purchasing goods directly online on E-commerce marketplaces like Amazon.in and Flipkart.com you can visit cashback websites to purchase your product. Most cashback websites offer the same product as listed on Amazon or Flipkart but they offer a 5-7% discount or cashback option on the purchases you make. They are able to do this because they work directly with Cashback websites and offer them large volumes. You can easily save more than Rs 10,000 annually by shopping on these websites.
Websites like Big Basket offer steeper discounts than Big Bazaar or More stores because they are able to save money through their minimal operations. Unlike big retail chains, these websites do not incur monthly expenses on rent, electricity, and salaries. They pass on the benefits to consumers in the form of lower prices. Also, most of these websites offer free home delivery to your doorstep thus you end up saving your time and money.
With competition in the food delivery space hotting up, many startups like Food Panda, Tiny Owl, and Fresh menu are offering massive discounts along with coupons. Regular users can save up to 30% of their food costs every month by ordering it online. Some websites are even willing to provide you a daily lunch if you pay them a fixed sum in advance every month.
Switch off your television
The television set is a great source of temptation because you are bombarded daily with thousands of ads for products and services which you do not require. You can instead watch your favorite shows online after installing an ad blocker plugin in your web browser.
Clean out the clutter and used items
Many stores offer discount coupons in exchange for old items such as used clothes and defunct electronic goods. If you have accumulated a lot of old, unused, or broken stuff in your closet then discard it at the first opportunity you get. Some Vaastu Shastra experts also believe that you should not accumulate defunct goods as it a bad sign and tend to drive away wealth. For prosperity’s sake, you need to clean up your home today and do some Lakshmi Puja today!
Watch the video below which has more financial advice from Bank Bazaar for saving money.