How to save money?

Who hasn't heard the famous saying “Money makes the world go round"? Everybody has. Money talks! It gets things done. It puts food on your table, takes care of your health and lets you live a comfortable life. In a nutshell, it helps you survive and survive for long. Knowing the importance of money is one thing. Understanding how to save money is altogether a different matter. Not everyone earns the same amount of income every month or every year. Not everybody manages to save the same amount of money every month or every year. Many among us could be earning a decent amount every month but could be struggling to save any money at all. It could be because of many reasons. You could be repaying some guaranteed payday loans dues, credit card or store card dues. Some loan repayments could be taking a big bite off your monthly income. The other reason could be your less-than-necessary attention towards saving money.     To take care of such dues, many customers often move towards short-term loans. These loans could be in the form of loans against cars, loans against property or unsecured loans. Some people earn well, but many in the UK struggle to make ends meet. For them, saving money is as good as an impossible task. Such people land up in tricky situations especially when an emergency arises. Knowing how to save money is as important as knowing how to earn it.  

Some of the ways by which you could save money every month:

• By generating cash for yourself. Yes, it is possible by changing your current account from one bank to another. Many banks offer quick money to new customers as a reward for their business.

• Use coupons to shop as much as possible. Some websites provide professional tips to help you save money through coupons.

• Try to switch your energy supplier. It could help you save a few £

• Make an effort to pay-off your credit card and store card debts as soon as possible. Debt consolidation and balance transfer procedures could help.

• Sell off all the unwanted stuff at your home or office. Websites such as eBay and Vented could help.

• Review your entertainment needs. Many people prefer switching from their TV to online streaming services. Options such as Netflix or Amazon Prime could help you save a fair amount of TV licence fee.

• You can cut your travel cost by sharing your rides with others. Websites such as GoCarShare.com and Liftshare.com could help.

• Set up a standing order or use an app to help you transfer a specific amount every month to your savings account.

• Use cashback options while shopping online.

  Above mentioned are some of the ways to help you answer the question "How to save money?” Please remember an old saying "A penny saved is a penny earned."   Read: How to Get a Credit Card?