- Don’t keep all your funds in one bank.
- Spend your salary only after deducting some amount for savings each month.
- Always invest little money in some high-quality stocks every month and forget about it.
- Never let EMI’s cross 30% of your income so that you don’t fall in the debt trap.
- Fixed Deposits today gives almost zero return if adjusted with inflation, invest in low-risk mutual funds instead.
- Always keep some ready cash with you to make money in adverse circumstances by purchasing shares at throw-away prices. (Like these days)
- The best way to save money is not to waste it on destructive assets, like excessive car loan EMI’s. These depreciate at the speed of light.
- Buying groceries once a month, sounds cliche but saves a lot of money wasted on impulse purchases every time you visit a supermarket.
- A good quality pair of shoes, stays with you for years; however, a cheap quality pair remains for months. Be smart, buy decent quality products, estimate replacement costs before purchasing.
- Plan holidays from your income, bonuses or profits must create wealth and assets.
- Medical insurance saves you from instant bankruptcy or loss of life because of lack of funds.
- Anything which depreciates over the years is a liability, anything which at least maintains its value over the years is an asset.
- Live a stress-free life; stress leads to wasting money on temporary pleasures and medicines.
- Allot pocket money to your children from an early age, controlling spending and inculcating good habits.
- If both spouses earn, family income doubles and savings multiply.
- Seasonal fruits and vegetables are the cheapest and the healthiest.
- Spend money on the Internet so that you don’t need to go out every other day.
- Never buy the topmost model of any product; they offer unneeded extra features for a very high cost.
- Don’t create needs out of other people’s luxuries; don’t live a Facebook life.
- There are beaches, deserts, hills, forests, waterfalls, rivers, every geographic wonder in our country, travel within the country at reasonable rates.
- Maintaining products saves you from huge capital losses of repurchasing often
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