Every second person these days is complaining about the increasing prices and that things were pretty cheaper back then. But if we look at it the other way round we can also say that back then people didn’t have unnecessary expenses, there was no desperation of keeping the latest iphone and camera, it was the personality that defined a person not the kind of car he keeps. With the increasing expense and unnecessary needs it has become quite difficult to get everything on an average monthly payroll, even if you manage to fit in everything in the monthly earnings you are left with no savings at all. Life is unpredictable and we never know what is waiting in the room for us therefore we should remain prepared emotionally, physically and financially as well. In this world it has become a must to have some savings, but again if we slant a look at the increasing economy it is quite difficult to save money, so the top 10 smart money saving techniques are:

10. Use less credit card and pay by cash:

Use credit card for the emergencies only, for example you need to buy something really important and you don’t have the money in hand or there is some other emergency, else always pay with cash. By paying through the credit card they deduct some extra charges which can be quite heavy on your tiny pocket. So minimize the use of credit card as much as possible

9. Prefer walking and spend less on transportation:

Don’t take unnecessary public transportations, if your work place is near then take a walk rather than hiring a cab. If you own a car then try to use it as less as possible, the fuel consumes a large portion of your earning. If you want to go somewhere far use subways and trains, they are cheaper and comfortable.

8. Reduce the usage of electricity:

Use electricity only when it is required, there is no need of using lights in the day, similarly switch off the fans and lights when you are not in the room. Switch off the button when you are not charging anything. Use Air conditioners only when you are sleeping at light. Use energy saving gadgets, replaces the bulbs with savers. It will surely decrease the amount you pay for your electricity bill.

7. sell old stuff:

Your wardrobe is currently filled with clothes you never wear, there are many sites who buy used clothes sell them there and keep only those you wear. Similarly the old mobiles phone you once had in use, the old DVDs and CDs, the old electronics stuff. Sell it all and make some cash.

6. Do grocery in bulk from discounted stores:

Don’t buy grocery one daily basis, like rushing off to the superstore when you suddenly run out of coffee, a big no to that. Make an estimate of how much coffee you use in a month, make an estimate of all the grocery items and buy them at the start of each month in bulk from a store which provides discount.

5. Prepare food & drinks at home:

Don’t eat out every day; limit that to one day in a week. If you work somewhere then prepare your lunch at home and bring it in a box at your workplace. Similarly don’t spend money buying smoothies and shakes, make them at home. Whenever you go out take a water bottle with you so that you don’t have to spend money buying water.

4. Buy things you need not want:

Cut down all the unnecessary expenses, you don’t have to buy every new shoe at the store, why buy an expensive camera when a simple digital camera can do the job, why change mobile phone after every 6 month, why do unnecessary shopping. Just because you liked a thing does not mean that you are supposed to buy it. Whenever you are about to buy something really expensive think for at least 24 hours before buying.

3. Collect pennies and loose change:

At the end of the day whatever change you have in your purse or wallet put them in a jar, make this a routine. At the end of the month you would have some considerable amount of money in the jar, take it out and save it.

2.  Plan a budget:

make a budget every month, what amount of money you will be using for buying grocery, what amount will used for paying the bills, how much money you need for transport, if there is a holiday coming up and you need some money then cut down a little amount from the other portions.

1. First save then spend:

Most people save the money which is left at the end of the month. This is not right. Make up your mind that you will be saving this amount of money each month no matter what happens, after putting that amount in the savings adjust your monthly expenses.