So, who wants to be a millionaire? You can drone on about how you aren’t materialistic, and how you  prefer philosophical pursuits to monetary gains. But if you look deep within yourself, you’ll still find yourself craving a little more cash power. Desiring money and wealth is not an indicator of greed. It just shows you view the world with a practical perspective. Liking the idea of having money shows that you have an understanding of how the world works. Cash plays a huge role in rendering power, maintaining the balance, and as such shaping the world. And it is a good thing to understand its significance, and work it to your advantage. So now that we’ve established the need for money, you also need to know what you can do to have more of it. Again saying you want more money isn’t a display of avarice. You just want to boost your savings and secure your future.

The problem that lies with most people trying to build their savings and increase their corpus, is that they always seem to adopt grandiose schemes and ambitious notions to increase their money. If you’re lucky you might strike gold with this. But you need to also remember that in the fiscal arena, lady luck is a fickle friend. You need to turn to the smaller ideas that are more solid and can benefit you in the long run. Another thing most people don’t understand about saving is, money can be saved just about anywhere. Making a few reductions on spending here and there can actually give your savings a considerable boost.  So here are a list of tips on how you can save money without having to cut back on the things you love drastically.

  • #10. Choosing the right time to travel

Choosing the right time to  travel  can really help in saving up some extra cash. It is understandable that you would generally prefer to travel when you’re on vacation but if you can manage to travel off-season you’ll always save up on some extra ticket fare. Even hotel bookings are cheaper than when compared to the peak periods. And this of course has added benefits such as easy availability of accommodation and tickets. Since traveling does cost quite a lot, you can save quite a chunk of money if you travel when the rates are low.

  • #9. Check your monthly spending

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Keeping a track of how much you’re spending can really help you understand unnecessary expenditure. This requires some organizational skills. Keep a record of how much you spend every day of the month. You can conduct a weekly assessment of your expenditure. Spend some time to figure out where you could have cut back. Cut backs don’t have to  always involve exorbitant figures on the expenditure sheet. You just have to analyze where you can save a little extra cash by foregoing some unnecessary indulgences.

  • #8. Organized grocery shopping

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A chunk of our savings is spent in buying groceries. While we can’t avoid groceries entirely, we can try to spend judiciously on them. Make an organized list of only the items you need. Don’t pen down any paraphernalia you aren’t sure you’re going to use. Also another useful pointer is to take very little excess money to the grocery shop. That way you wont be tempted to spend on things you don’t need.

  • #7. Hangout with like minded people

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A lot of the times the reason you end up blowing so much cash, is because you hang out with friends who probably have enough cash in hand to throw about. This urges you to spend a little too much as well. Of course you can tell the others that you maintain strict budgets. But it will be difficult to gel with people who spend lavishly in the long run. So while you can hangout once in a while with people who spend, it might do you some good to mix around with people who are on a budget like you. You wont feel out of place and you’ll save up some of your precious green.

  • #6. Home made lunches


One of the most conventional places to save on some money is to make your own food. Making your own lunch at home and taking it work can decrease you overall expenditure at the end of the month. You can allow your self to indulge in a little variety once in a while, but packing your own lunch to work everyday can reduce the dent in your savings.

  • #5. Entertaining at your own place.

Sometimes the need to entertain guests on a regular basis arises. Friends and relatives may invite themselves over for dinner once in a while. If you are previously informed by them of their arrival,you can set out to cook and make dinner at home. Entertaining guests at a restaurant may seem quite pricey especially if you are on a budget. A couple of hours in your own kitchen to prepare a hot home cooked meal can give your guests that homely feel and prevents you from overspending at restaurants.

  • #4. Borrow not buy

If you are a book or movie aficionado, you might tend to spend a lot of your money buying these items. A wiser option that can benefit you is to borrow these things from a library. There are many  libraries that rent DVDs and books. You could enroll as a member in one of these places and have access to a lot of resources. This way you also have a wider range of resources to choose from and it works out much cheaper than buying.

  • #3. Don’t be brand conscious. 

One of the best ways to save money is to discard the idea of brand consciousness. When it comes to purchasing branded goods you will always end up spending more than you should. In fact most of the time you spend more for the name and fame of the brand rather than the product itself. You  can spend some time doing research on more local products that come at cheaper rates, and can offer you what you need.

  • #2. Buying products off-season  

As a consumer you will find it more beneficial to purchase products that have off seasonal discounts. You could purchase goods for festivals after the festive season is over, and use them next year. It works out much cheaper. Buying items during the seasonal period leads to unnecessary expenditure as the rates of the goods will always be exorbitant. You can instead buy the same goods at discounted prices and use them the following year.

  • #1. Conserving electricity and water 

Switching off the lights when you aren’t in the room and making sure no taps are running when you aren’t using them can drastically reduce your expenditure. A lot of the cash you save up goes into paying bills. Judicious use of water and electricity can reduce the amount you spend paying these bills. This little pointer has been a tried and tested technique by a lot of people who have wanted to stick to budgets. And it has worked immensely well for them. You don’t have to be an ardent environmentalist to understand the importance of conservation. You just need to know the distinction between what is necessary and what is not.


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