In this video, we will be giving some small money saving tips or you can say investment strategies or investment tips.

In this video, we will be giving some small money saving tips or you can say investment strategies or investment tips. We all know the need to save a certain portion of our income to live a financially secure life. But often we get occupied by end of season sales or ongoing offers and end up purchasing unnecessary things. To avoid such situations and help you start saving money, we will discuss five most effective ways to start saving with few money saving tips. First is the most convenient way is to start with a piggy bank. Start putting some money every day in your piggy bank, you can assign a name to your piggy bank, such as savings money for new watch, short vacation, gift for a friend, etc. Now doing this consistently will help you develop a habit to save money. After the habit is developed, you can increase the amount of money savings done and fulfil the purpose for which you have saved.

Next is tracking money expenses. So basically, a penny saved is a penny earned. We always fall in the trap of unnecessary expenditure. So to save money set timelines based on the timelines, decide not to expend a particular amount on any unnecessary purchases. Over a time, you will realize that by postponing your once, it may happen that after the time passes, you may not need those things at all. Create and maintain a personal funding. Plan to do something exciting with this fund, you can start saving neutral amount for anything that gives you motivation to save. If you maintain this tag it with something exciting every time you try to spend on something else, you will think of the fun that you\’re maintaining and will keep your money back in your pocket. This will help to develop a habit, to save little money towards a certain goal.

Using automated savings tool, we should look for an automated bank account or app, which transfers one amount of funds from a bank account to another savings account. Here, we can set an amount like 500 or 200 to be transferred to another account. Then every month, this amount will automatically go to a separate savings account and that it will help us to save money every month. Follow the 50, 30, 20 rule. According to this budget tool, you should spend 50% of your income on your needs. 30% on your wants and 20% should be saved. Do this 20% may seem little. Do you remember if you follow this consistently, you will accumulate huge amount in the long run. It was all about developing a habit. Once you develop this habit to save money, you will surely end up accumulating a huge sum of money in future. It will not only give you financial security, but also the ability to take decisions independently. You can this investment strategies for various purposes, such as meeting your financial goals, higher education, investing in mutual funds, stock market, etc, little accumulated savings can help you achieve your financial goals.