Saving money is difficult, we all know that, but did you know that it can be made a little easier and enjoyable using some creative tricks. See, saving money is all about building the proper habits, and if you can think of some interesting methods that will almost convert saving money into a game, you can get consistent at it while having some fun.
We have compiled a list of some straightforward ideas that you can easily incorporate into your life, and we are confident that they will help you save a lot of money in the long run if you follow them the right way.
Good financial habits can also help you earn rewards. Download the Wizely app and earn Cash Rewards of upto Rs 25 lakhs every week with Wizely Wednesday.
Not quite right, but did you know that good financial habits can help you earn rewards? Download the Wizely app and earn Mega Cash Rewards of upto Rs 25 lakhs every week with Wizely Wednesday.
So let's get right into it.
- Invest all the unexpected income and financial gifts - When you get a bonus or a monetary gift from a friend or family, you don't need that money to maintain your lifestyle. It is extra income, and if you don't have a plan, you will probably spend it immediately on something you didn't plan for. Instead, get a clay piggy bank that can only be opened by breaking and start putting all of that money into it. Only break the piggy bank when you think there is a decent amount in it and whenever you break it, invest it all the same day.
- Find a money buddy - When you go to the gym, it helps you go with a partner. You can motivate each other and challenge each other to do better. The same goes for financial planning. Find someone with similar financial goals and take the journey with them. It will help you get consistent and make the process more fun.
- Take up a challenge - Take up a no-spend weekend challenge or keep track of every expense this month. You can create any challenge of your own as per the thing that you think needs the most attention. Take it up and plan a reward for yourself when you finish it successfully. You can even post about it online to create some more motivation for yourself.
Also read: Take Part in Wizely's Spend Challenge & Earn Rewards
- DIY as much as you can - Whether it's facial therapy or some good old furniture. Doing it yourself is a great way to learn, have some fun, keep some creative juices flowing and save some money all at the same time. If you don'tdon't know how to do something yourself, we are sure you will find plenty of videos about every other topic on Youtube.
- Buy second hand when possible - If you are buying something like a set of dumbbells, you can quickly go for second hand. These things don't have parts that can go bad, and you can get them for much cheaper secondhand. Before making any purchase rethink it and, if possible, go for derivatives. It also saves the environment.
- Buy in bulk - If you buy things that have a decent shelf life and consume them often, then go for bulk purchases. This will help you save money in two ways. The bigger packets are generally cheaper because you are buying more in a single go. You will have to visit the grocery store less often, so the chances of you making an impulse purchase of items that you did not plan on buying will reduce.
- Cook interesting meals - A great way to avoid going out is to learn to cook creative meals. Learn recipes of food that you like eating. Make sure you always have some enjoyable ready-to-cook meal recipes and ingredients handy. This will help you avoid ordering takeaway often.
- Creative gifting - Think of creative gifting ideas like handmade cards or homegrown plants. These things have a personal touch and show effort on your part. They are more personalized and are far more appreciated than store-bought gifts. They can also save you a lot of money.
- Don't make an unplanned purchase on the first visit - Let us suppose you go to buy a dress and come across a bag that you think you need, but you didn't visit the store that day to buy a bag. In this case, don't buy the bag. Delay it for the next visit. Tell yourself that you will come back tomorrow and buy it. This will give you a good 24hrs to think if you need the bag and test your need because you will have to put in efforts the next day to go and buy which you will only put if you need it.
- Automate your investments - Enroll in a systematic investment plan that automatically invests a certain amount of money each month in your chosen investment option as soon as your salary arrives. This will make sure that you are consistent with your investments and are also conservative with your spending.
We hope these little tricks will help you save a little extra money while also having some fun. Happy Savings.
Another cool way to save money is by using Wizely’s very own goal based saving feature. Download the Wizely app now to check it out.
You can set a goal and we will remind you when you need to add funds and also help you find the right investment options to reach your goal faster.
Learn more about How You Can Save on Wizely.
(Check out 'Learn & Grow with Wizely' 'to read and learn all about personal finance and financial planning.)