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How to Save Money(Money Saving Tips for IT employees)

There are more trending tips on how to save money in your daily life. Even though there are numerous sites has already stated about the tips, the list is never exhausting.

I understand from my life, we can save something in everything we do. 

Here are list of money saving tips from my personal experience and especially these money saving tips helpful for millineals and every indian IT employee.

Best Shopping Tips:

Tip 1 : Go to shopping with out kids. It saves time and also you can concentrate more on buying the things.

Tip 2 : Buy Kids Dress size current age + 2

Tip 3 : Take the money instead of cards.

Tip 4 : Pay by money while going for shopping.

Tip 5 : Take a list of items to purchase and stick to it while shopping. This saves both money and time.

Tip 6 : After buying items, recheck once you can remove unwanted items.

Tip 7 : Avail home delivery, instead visiting malls or shops

Tip 8 : Don't plan buying groceries at night, it provokes hasty decisions due to low energy levels.

Tip 9 : Be prepared dinner at home, before going for shopping at night time.

Tip 10 : Don't bend for rewards, while shopping. Rewards used a trigger point for shopping.

Tip 11 : Coupons are the best if you stick to the same shop.

Tip 12 : Local made groceries are cheaper then branded ones.

Tip 13 : Get the very high priced groceries from your home town.

Best Clothing Tips:

Tip 1 : Buy clothes in bulk and only once in 2 or 3 years.

Tip 2 : Season sales are the best time to buy in shopping malls. No Sale No Buy

Tip 3 : Employees discount exists in shopping malls. Avail 10% discount.

Tip 4 : Dark Trousers and Light Coloured Shirts are good to buy, because they will fade less.

Tip 5 : Buy more Shirts combination (atleast 2) for each trouser.

Tip 6 : Don't buy expensive clothes for children till they attain age of five.

Tip 7 : Don't buy clothes without the person who wear it.

Tip 8 : 1 suit + 1 yellow marriage dress are enough for Indian marriages. This is where indians spent most.

Tip 9 : It is good to buy shorts than phants to wear at night.

Tip 10 : There are chances to get good clothes at small stores. Try it.

Best Travel Tips:

Tip 1 : Usually train travel is best than bus, less cost and more comfort.

Tip 2 : Go on bicycle if your office is less than 3-5 km 

Tip 3 : Go by walk, if your office less than a km 

Tip 4 : There will be different charge if the bus stages has changed, ask tickety for before stage, if your destination is in between the stages.

Tip 5 : Share the bike if there any friends/colleagues nearby your house 

Tip 6 : Once in a while, try to walk to the next stop.

Tip 7 : Try to wait for direct bus instead break journey's(find the time of the bus).

Tip 8 : There will be different categories of buses with different rates for the same destination. Travel in low cost one.

Tip 9 : If you are travelling for long distances in cities, take one day pass.

Tip 10 : Going in group or with family, prefer local train, as only one guy need to bear all the travel expenses.

Best Entertainment Tips:

Tip 1 : Don't expose to the Advertising, make you urge to buy.

Tip 2 : Set a time for a TV so that you can watch and turn off the TV.

Best Utilities Tips:

Tip 1 : Make your own gifts

Tip 2 : Sell unwanted items 

Tip 3 : Buy tooth paste in small sachets with some free grams.

Tip 4 : Buy brushes in bunch of 3 or 4. 1 bunch for 1 year - per family.

Tip 5 : Most of the soap get wasted by drenched in residual water. Use soap box with water outlet 

Tip 6 : Using a mid size bucket for bathing, will save some water.

Tip 7 : Make one extra set of toilet things in your back packs. This will save some money and time.

Tip 8 : Washing clothes by hand will save water, soap and electricity.

Tip 9 : Buy soaps by calculating 100g rate between different ones. Usually, Rs. 30-35 per 100g is ok.

Tip 10 : Buy less number of pair of chappals than shoes if you are a working professional.

Tip 11 : Use natural home made face packs than artificial ones.

Tip 12 : A shave at home saves more money.

Best Food Tips:

Tip 1 : Never drink coffee/tea at outside. 

Tip 2 : Bring your own lunch to Office

Tip 3 : Plan the vegetables list to buy a week ahead.

Tip 4 : Don't buy Sweets in the super markets.

Tip 5 : Growing Fenugreek leaves is easy & can use for 1-meal [ will grow anywhere ]

Tip 6 : Pick vegetables which are cheap . Eg. bottleguard , Banana etc [ Drum sticks ]

Tip 7 : Black gram(urud dal) is more costlier than Upma Rava. Try to accomodate upma as a breakfast.

Tip 8 : Egg is more rich in proteins & less in price.

Tip 9 : It is better to avoid to buy Refrigerator for keeping food. This causes more health problems and hospital bills in the future.

Tip 10 : You can get the fruits at cheap rate near railway stations (In India).

Tip 11 : Guava has more medicinal values than Apple and available at cheap price too.

Tip 12 : Replant the leafy vegetables sticks and can use for later.

Tip 13 : Orange, Guava, Banana are the cheapest fruits.

Tip 14 : Few vegetables stay longer like Onion, Beetroot etc., Buy in large quantities.

Best Money Saving Tips:

Tip 1 : Keep the change in the coin box after you reach to home.

Tip 2 : Don't buy mobile which costs more than 7,000

Tip 3 : Recharge with Amount less than Rs. 4 /day

Tip 4 : If you have multiple SIMs, use one sim only with data [2GB/month]

Tip 5 : For Jio sim's use it on mobile [Jio Mobiles], Dongle [Jio call App]

Tip 6 : Don't use mobile hotspot for more days. It Frans battery & money too

Tip 7 : Put mobile aeroplane mode after 10pm saves battery . Health too [Use auto Apps]

Tip 8 : Don't take /use mobile for payments . Use physical money & note Expenses.

Tip 9 : Don't use costly phones if you have children @ home 

Tip 10 : Using Wifi will save battery than mobile data usage.

Tip 11 : Resell / use exchange offer for buying new mobile.

Tips for Banking- Credit Cards Charges :

Tip 1 : Don't maintain more than 2 credit cards. It attracts many charges.

Tip 2 : Pick your credit card based on what type of expenses you spent.

Tip 3 : If you opt for zero annual fee card, you miss more rewards instead opt for cash back cards.

Tip 4 : Never pay min alone  due for Credit Cards

Tip 5 : Never withdraw money from ATM with credit card.

Tip 6 : Never miss the credit card bill payment.

Tip 7 : If you have a good CIBIL score, you can get less interest rates on Loan on Credit Card.

Tip 8 : Ensure sufficient funds if you set standing instruction.

Tip 9 : De-link the credit cards in third party payment sites.

Tip 10 : Use your credit card till 10 days after bill cycle and stop before 10 days of bill cycle.

Tips for Banking - Debit Cards Charges

Tip 1 : Debit card attracts annual fee and joining fees.

Tip 2 : Debit card renewal also attract fees.

Tip 3 : As everyone know, we have limit 3-5 ATM withdrawals, charges applicable post free withdrawals.

Tip 4 : Surrender the unused debit cards. Note UPI cannot not be used if debit card is not available.

Tip 5 : Every mortgage account maps with Savings account, and can close debit cardd for these accounts.

Tip 6 : If you try to withdraw from ATM(when there is no balance), it attracts charges.

Tip 7 : Same Charges applies if do payments(swiping machines) with the debit card when there is no balance.

Tip 8 : One can turn off bank SMS notifications for debit cards. Bank charges for SMS notifications.

Tip 9 : If you visit the bank more than 5-6 times, you will be charged.

Tip 10 : If you have unused accounts, close those bank accounts. It affects CIBIL score and penalty in future to close the accounts.

10 useful tips for Buying House:

Tip 1 : You can get the less quote price for an under construction apartment.

Tip 2 : If you take the top floor, you pay the amount at last to the builder.

Tip 3 : For the first time buyers, there are many processing fee waiver offers in banks.

Tip 4 : If you cannot pay large amount EMIs, opt for low EMI initially and then change to large amounts later. This will decrease tenure automatically.

Tip 5 : If you are able to pay large amounts, go for higher EMIs.

Tip 6 : It is wise to pay atleast 1.5L/year as pre-payments(for principle)

Tip 7 : Pay your pre-payments at the start of Financial Year(may be with bonus amounts)

Tip 8 : If you put apartment on your spouse name, there will be 1% waiver on registration fees.

Tip 9 : Buy an apartment in the range of 25L - 30L only. This will decrease the EMI.

Tip 10 : You EMI should not be more than 10-15 K per month. So, avail a loan based on the EMI you can pay.

Top Investments Tips:

Tip 1 : If you have surplus amount for short term, create Fixed Deposit or invest in liquid funds.

Tip 2 : Consistent deposits in Small Savings Schemes(SSY, PPF), will yield better returns.

Tip 3 : Deposit 5th of every month in small savings schemes as the amount taken for interest calculation.

Tip 4 : Gold Deposit schemes at stores are the best schemes than online.

Tip 5 : There are annuity plans or monthly interest pay-out plans, if you want invest for parents.

Tip 6 : I believe medical insurance plans are better than life insurance plans.

Tip 7 : Invest in small amounts in Mutual Funds, this will help at the end of month for the people living on pay check.

Tip 8 : Investing in ELSS, 5- year FD's, will be helpful for last minute investments to save income tax.

Tip 9: An expenses sheet will help where to cut your unnecessary expenses.

Tip 10 : Don't lock your funds of saving 20K tax amount by investing in 5-years FD.

Tip 11 : Money grows where interest is compounded.