Money saving is almost impossible if you do not know the right techniques of saving money. I had a friend who always complained about his income that he doesn’t get enough money to save for his future. However, he found a job in another office where he was offered a very handsome salary as compared to his old job. So, I was satisfied that now he won’t have any kind of issues and he must be saving a lot of money now. Click Here and take a look at some effective money saving tips in 2018.
But my expectations were completely wrong because when I met him after a year, he told me that he is still in the same situation and he is unable to save any money at all. So, it was really shocking for me to hear such kind of statement from him. But then I realized that money saving has nothing to do with your income. There are people that are saving 20-30 percent from their monthly income while they are earning a very limited amount of money.
On the other hand, there are people that are earning thousands of dollars and still, they keep complaining about their expenses. In my opinion, if you start controlling your expenses wisely, you can easily save money on your monthly income. Here are some money saving tips you can use to save money in 2018.
The car insurance is the most effective way of saving money on monthly basis. This may be shocking because you actually pay extra cash to the insurance company for insuring your car. But if you take a deep look, you get to know that it helps you save money in the long run. For example, if you have got into an accident, the insurance company will pay the expenses on your behalf. Similarly, if your car gets stolen, the insurance company will help you recover the damage based on the insurance you had purchased.
Avoid Credit Cards
I know that many people take credit cards for monthly purchases but it costs you a lot of money in the form of interest. However, if you don’t want to carry extra cash with you, then you should start using a debit card instead of the credit card because the debit card doesn’t damage your reputation and expenses at all. You must take a look at https://utilitysavingexpert.com to see that why the debit card is better than the credit card.
Open a savings account
The saving account is the most important thing that can help you save some money in the long run. Make sure that you open an account that deducts a specific amount of money from your income every month. Another thing you should keep in mind is that you should open an account that won’t let you withdraw the money before a year or two. Thus, you’d say enough money within a year. Here are some other money saving tips for 2018.