At the end of the month, only a few rupees remain in the bank account. Where exactly did the money go? Why does this happen? What mistakes are we making? Or even if we are not making mistakes, what can we do to save money and stop unnecessary spending? Let's explore this now.


5 Small Tips to Control Expenses and Boost Your Savings

Anything in moderation doesn't harm, but once it exceeds or falls short of the limit, it inevitably leads to negative consequences. Just like the advancements in technology.


Technology has made human life more comfortable. Things that seemed difficult or impossible became possible. But over time, its misuse began, and it still continues. A small example of this is the increasing number of shopping applications.


These applications have proven to be a boon for small vendors, uneducated, and needy people, but at the same time, they have unknowingly cut into the pockets of unaware customers. This happens because constant advertisements make us believe that a particular item is essential in our lives.


People now consider everything important and necessary. Adding to this is the competition among online apps. One-day delivery, a few hours delivery, or even within a few minutes, one-time offers – such facilities have eroded whatever patience people had left.


Online shopping apps are just one example. Many such things exist that drain our pockets, and by the end of the month, we are left with little money. Let's understand how to save that little money.


Solutions to Avoid Unnecessary Expenses and Their Benefits:

1. Audit:

   - You can find solutions and benefits by doing a simple and straightforward task: auditing your bank statement. Just look at how many unnecessary things you have bought online and make a list. 

   - Compare the prices of items like food, shopping, or any other thing in the market. You will easily realize how expensive online shopping can be.


2. Honest Questions and Answers:

   - Ask yourself a few questions before purchasing anything:

     - Do I really need this item?

     - Is the market price of the item lower than the price I am paying?

     - Is there any cheaper and durable alternative to this item?


   - Ask these questions and give honest answers to yourself. This will help you avoid a lot of unnecessary expenses.



3. Uninstall Shopping Apps:

   - We install many shopping apps but rarely open them. Suddenly, we receive a notification about a limited offer, and our money is gone. If we don’t have the money, we add the item to the bucket list and buy it when we do. So, uninstall shopping apps.

   - With WiFi everywhere and 1GB of data per day, you can always download the app and order what you need when necessary.



4. Cash Payments Only:

   - As I mentioned earlier, anything in excess becomes harmful. In our quest to be fast and digital, we have lost control over our spending. 

   - Digital payments are convenient, so they can’t be completely avoided. But if you want to keep control over them, one solution is to make cash payments. The benefit of cash payments is that you keep track of your expenses.

   - When you see money leaving your hands, it makes you cautious, and you spend more carefully next time.



5. Invest Money:

   - As children, we used to give our pocket money to our parents and ask for it when needed. Try doing the same now.

   - When you receive your salary or any money, invest 40% of it in the right place first. This will help in two ways: your money will accumulate, and even if you decide to make unnecessary expenses, you will have only a limited amount left.



Conclusion:

Due to digital payments, people have lost the habit of seeing an empty wallet. An empty wallet opens a person's eyes. These solutions are effective for controlling unnecessary expenses and saving money, and this is not just my opinion; it is my experience. If you also want to save your money, definitely try these solutions. If you have any other tips, write them in the comment box to help others.