Painless ways of saving money

Painless ways of saving money. Photo copyright gcaffe.comI am a self proclaimed shopaholic and I say it out loud – I love to spend money in all ways.

Guess what the other day I was asked! “What are the painless ways of saving money?” Oh how I laughed it out. How could I explain… I’m born to spend.

Then I thought it over it and asked a few people – the experience could well be dubbed truly hilarious!

Some came up with good tips while others tendered atrocious ‘changes’ (read with coins). Some did not believe I was asking this hideous thing as how to save painlessly! “Are you turning miser, Gee?” a close friend queried.

The best answer was given by my husband who said, one cannot save till one is content, is happy to the heart and has spent enough to be satisfied.

Saving does have a few benefits but it is the toughest thing to do. So let’s make it simple. During my survey I also heard many painful stories of friends and people who pulled it through rough patches and rainy days with courage and emerged with a smile. Isn’t it the most important thing?

Whatever I might save, just does not stay with me. It sort of slips out of my pocket and there are such dire circumstances when the savings have to be used. In those times I thank the Lord for helping me save. It is then when every penny counts.

Some tips for people like me to help you save one small bit:

To begin with, save small. Fix a small amount and keep it daily in a hideout and DO NOT TOUCH it! It works.

  • Open your PPF account.
  • Those who work invest in Government Pension Plans.
  • Investments in Mutual funds.
  • SIP – Small Investment Plans. SIPs are helpful as they mitigate the risk of stock market uncertainty.
  • A comprehensive financial planning would include, among other things, as pure term plan, PPF yielding tax free return, investment in Government Securities, Dividend yielding stocks which is also tax free.
  • Post Office Deposits – FDs and RDs. Make small investments every month. Works well.
  • For all housewives – save a percentage of the cash you get every month in hand. Make it a point to keep that money separately and not to use it at all till an emergency arrives.
  • If you have some extra cash, buy some gold biscuits. The purest form of saving and one thing which grows with time is Gold.

How to save money wiselyThe only way one can save is not to use that amount till it is a rainy day. The other way is to earn more than you can spend. Savings are the grace factor in our lives. Keep it safe and secure your life.

Though I have not saved much but I have never regretted a single penny spent by me.  Every saving by me brought along pure pleasure and I shall always relish that.

Happy savings my dear friends. If you are able to save some – lemme know. Or I’ve already found a savings buddy!

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