Use Credit Cards to Save Money While Traveling -

Using credit cards while traveling is a pocket-friendly as well as a convenient technique. You can earn points, miles and cash back rewards. However, these are the basic benefits of using a credit card overseas.

If you wish to make the utmost advantage of all the travel benefits that a credit card can offer, you must know which doors to knock on. Here are a few unbelievably amazing benefits that could help you save a lot more on your vacation.

Finding the Perfect Card

Credit cards are the best pocket-companions during travel. Traveling with cash can be quite risky, and the advent of credit cards has made it safer for people on a trip. Whether you choose to shop, go out for dinner, or buy flight tickets - credit cards are the best mode of payment. Certain credit cards also offer excellent travel offers and services.

However, the biggest bitterness sets in when the credit cards levy exorbitant charges for foreign transactions. What should you do when you have to fund an overseas trip - should you pay such high charges or should you look for alternatives?

Well, cheaper travel options are abundant. You just need to browse your options and find the right credit card to suit your purpose, which can be a tedious task. However, you ought to be aware that you can save a considerable amount of reserves if you just research enough to find the suitable card.

Most credit cards in the US and UK charge low foreign transaction fees, sometimes even as low as 0%. Unfortunately, we Indians are not that lucky. All Indian credit cards charge at least 2% foreign transaction charges, and these are the premium travel cards that are difficult to get.

Ordinary credit cards that most Indians easily qualify for might charge an insanely high fee. Do not be myopic while sorting through available credit cards; devote some quality time and search extensively for the best credit card deal.

These are the criteria that you must check before deciding on selecting a credit card for travel:

• If you are a frequent overseas traveler, the first prerequisite for your apt credit card should be a decently low currency conversion charge and foreign exchange rate.
  
  
• Look for cards offering reward points that can be converted for Air-miles or direct Air-miles that can be redeemed while purchasing flight tickets.
  
  
• Check for cards that give you free access to Airport Lounges.
  
  
• Credit cards levy a markup fee of 3% to 5% on foreign transactions. This essentially means that if you spend Rs.1 lakh on your foreign trip using a credit card with a 5% markup fee, you will end up paying an extra Rs.5000 to the issuer. Hence, you should look for a card that has low markup charges.
  
  
• A few credit cards levy a fee on swiping the card for purchases. Avoid those. You will find many cards that do not charge this absurd fee.
  
  
• Most credit cards charge varying rates for cash withdrawals through ATMs. Find the card that charges the least.

How To Save Money On Groceries - Online Shopping

How do you feel about the idea of grocery delivery at your doorstep? It is relaxing, right? Especially in winters when you try to find comfort in your blanket, the very thought of stepping outdoors to buy groceries can make you extremely anxious; similarly, it’s equally annoying during the summers when the humid temperature prevents you from going out.

Online shopping can be a savior in such moments. That is the power of online grocery shopping. You can get cheap groceries any time as per your convenience at your home.

How Is Online Grocery Shopping Different from Conventional Buying?

Here are some reasons why buying groceries online can be cheaper:

• Impulse control:  Shopping at normal retail stores usually tempts you to buy the things that you don't need at the moment, especially if your children accompany you. In online grocery shopping, this lack of temptation lets you save money in two ways -
  
  
• You stick to the list of requirements as you only search for the products that you need.
  
  
• If you have children, they will not demand unnecessary things while you fill your online cart.
  
  
• Bulk purchasing: You would have noticed that when you do bulk shopping from the regular retail store, you get a hefty amount of bill, which nearly burns a hole in your pocket. The advantage of online shopping is that bulk buying lets you save more on the bill.
  
  
• Offers:  In online grocery shopping, you can avail the coupons, promotions and other ongoing offers most of the time. You can even get coupons from dedicated coupon websites! While in conventional buying, you hardly get any discounts except for some occasional promotions.
  
  
• Customized shopping: If you are looking for any special product, such as multigrain dosa or an imported pasta sauce, online shopping can help you find the best deals.

Use Credit Cards to Save Money While Traveling

Using credit cards while traveling is a pocket-friendly as well as a convenient technique. You can earn points, miles and cash back rewards. However, these are the basic benefits of using a credit card overseas.

If you wish to make the utmost advantage of all the travel benefits that a credit card can offer, you must know which doors to knock on. Here are a few unbelievably amazing benefits that could help you save a lot more on your vacation.
Finding the Perfect Card

Credit cards are the best pocket-companions during travel. Traveling with cash can be quite risky, and the advent of credit cards has made it safer for people on a trip. Whether you choose to shop, go out for dinner, or buy flight tickets - credit cards are the best mode of payment. Certain credit cards also offer excellent travel offers and services.

However, the biggest bitterness sets in when the credit cards levy exorbitant charges for foreign transactions. What should you do when you have to fund an overseas trip - should you pay such high charges or should you look for alternatives?

Well, cheaper travel options are abundant. You just need to browse your options and find the right credit card to suit your purpose, which can be a tedious task. However, you ought to be aware that you can save a considerable amount of reserves if you just research enough to find the suitable card.

Most credit cards in the US and UK charge low foreign transaction fees, sometimes even as low as 0%. Unfortunately, we Indians are not that lucky. All Indian credit cards charge at least 2% foreign transaction charges, and these are the premium travel cards that are difficult to get.

Ordinary credit cards that most Indians easily qualify for might charge an insanely high fee. Do not be myopic while sorting through available credit cards; devote some quality time and search extensively for the best credit card deal.

These are the criteria that you must check before deciding on selecting a credit card for travel:

• If you are a frequent overseas traveler, the first prerequisite for your apt credit card should be a decently low currency conversion charge and foreign exchange rate.
• Look for cards offering reward points that can be converted for Air-miles or direct Air-miles that can be redeemed while purchasing flight tickets.
• Check for cards that give you free access to Airport Lounges.
• Credit cards levy a markup fee of 3% to 5% on foreign transactions. This essentially means that if you spend Rs.1 lakh on your foreign trip using a credit card with a 5% markup fee, you will end up paying an extra Rs.5000 to the issuer. Hence, you should look for a card that has low markup charges.
• A few credit cards levy a fee on swiping the card for purchases. Avoid those. You will find many cards that do not charge this absurd fee.
• Most credit cards charge varying rates for cash withdrawals through ATMs. Find the card that charges the least.

4 Best Clever Ways to Save Money in 2021

Most of us tend to pay all our bills at the end of the month. During this time, expenses may seem to mount up rather quickly. Your bank account takes a hit. Perhaps you, like so many others, think what you can do to cut your expenses? Is there any smart way to minimize wastage?

In this article, we are going to show you what to do.

• Slash away your wireless service: If you don’t have a contract locked in with a nation-wide carrier company like Vi and Reliance Jio, you can always consider going for a cheaper plan. You may want to look at your data usage as well. Do you ever use that much net data and talk time? If not, you are probably wasting the pack. Just downgrade a bit till you find exactly what you need. When the time comes to upgrade your mobile phone, think hard if you really need an expensive set. If you don’t, go cheaper. You don’t have to buy luxury items to get adequate features.
  
  
• Throw your landline out of the window: Almost everyone has a cell phone nowadays. Households are increasingly cutting off their landline connections for good because they just do not use them anymore. People’s lives now practically revolve around their cell phones. Some have more than one handset. Let’s face the reality: times change. If you don’t use your landline either, ditch the connection for good. You’ll save money by doing this.
  
  
• Cut the cable connection: Your cable connection costs a lot. Do you really need it? Do you have time to watch TV anymore? When was the last time you did so, and for how long? If you don’t watch TV a lot anymore, why not remove the connection for good? Instead, you can take NetFlix, Amazon Prime and the like. You can thus watch all the movies and TV shows you like at a fraction of the cost!
  
  
• Cut down your electricity bill: Did you know that some machines and instruments in your home are “energy vampires”? This means that even when they remain dormant, they keep sucking up electricity. These include coffee makers, TV satellite boxes, DVD players and more. Just by unplugging these you can save 20% of your electricity bills.

It is always prudent to see where and how you can save money. Stop wasting your hard-earned money, cut out unnecessary expenses and save money!

Multiple Bank Accounts - 8 Benefits of Opening Multiple Bank Accounts

Nowadays, many people are opening multiple bank accounts due to various reasons, be it a job switch or for business purposes. However, the fundamental benefits of having multiple savings accounts are still in question. So, let's delve deep into the matter and discover some of the advantages that opening multiple bank accounts can have.

Save Money for Various Short-Term Goals

Often, when all you have is a salary account, it gets difficult to actually save money. Having an additional account can be of real help in this regard.  You can assign a goal to each account that you have and deposit money in them accordingly. Let’s discuss this with an instance - Say you are a travel enthusiast and wish to go on a foreign trip every year. So, you can open an account dedicated to that purpose and save a certain amount of money in it every month. Multiple bank accounts can thus help you save money diligently for short-term goals; however, make sure that you use the second account only for storing money, and keep yourself from withdrawing it unless entirely unavoidable.

Open Multiple Need-Based Accounts to Track Your Money

Nowadays, the government offers several services to different sections of people, under which you could get a subsidy in your account. For example - Under the Direct Benefit Transfer (DBT) scheme, the government transfers money as subsidies for LPG gas directly into your savings bank account if you come under a certain bracket, and there are around 400 more such schemes. Hence, it is beneficial to have a separate account for these subsidies. Likewise, you can have a separate account linked with your income tax returns, where you can receive refunds as and when applicable for you. If you are a pensioner, then it is better if you receive your pension in a dedicated account, as it makes tracking the funds easy.

Thus, it can be advantageous for you to maintain multiple bank accounts based on your different needs.

Keep Your Options Open

Having multiple bank accounts could also help you get through certain unforeseen circumstances. In case you face technical difficulties during a transaction from one of your bank accounts, you can always fall back on another account of yours to get it done. This can prove to be helpful especially in case of emergencies, and you will not be left without any options when you hit an unexpected roadblock.

Create an Emergency Fund

Dedicate an account exclusively to saving for an emergency. At the start of every month, transfer a specific amount of money to this account through a standing instruction to your salary account. An emergency fund will help you sail through tough times by providing you with a financial cushion at times of need.

Avail Different Perks from Multiple Banks

Different banks in India offer distinct interest rates and perks. Having multiple bank accounts gives you access to the best of such benefits. Holding a savings account in one bank and maintaining a good relationship with it could help you in availing a home loan with relative ease. Whereas, some other banks may offer higher interest rates on savings accounts. You may be eligible for rewards, exclusive facilities, and bonuses at other banks. Thus, the sheer variety of benefits offered by different banks makes it a good idea for you to hold accounts in many of them.

Avoid ATM Transaction Charges

Banks allow five free transactions from their own ATMs and three from ATMs of other banks. After these eight transactions, the bank starts charging you if you use an ATM with the same debit card. However, if you hold debit cards of two bank accounts, then, you can make up to 16 free transactions in a month.  

Avail Free Cheque Books

Usually, a bank offers only one free checkbook in a year. If you request for another checkbook in that financial year, the bank will charge you. However, If you have two bank accounts, then you can avail of two free checkbooks in a year.

Increase Your Credit Card Limit

Nowadays, banks often offer a credit card when you open an account with them. So, if you have two different bank accounts and credit cards issued from both of them, then the amount of credit that you can use will increase.

3 Things to Do to Save More Money on Your Dream Vacation

Nowadays, there is a thing called a dream vacation. It is now a term so common that you can’t miss it if you go to travel websites. The thing is that when you take a dream vacation, you need to have a whole lot of expenses, not to speak of the great deal of planning, researching, and taking action.

In this article, we shall show you can save money and travel cheaply, yet still have a vacation worth remembering.

• Cut down on transportation costs: Most people make a budget before going on trips and vacations. If you are new to this, use a budget calculator. This can help a lot. If you already know how much you are willing to spend on certain things, such calculators can even tell you your best possible destinations depending on your budget. Travelling cheap is not only about cutting costs. It is about getting the most out of what you are going to spend. If the dates of your travels are flexible, you can find a greater selection of places to visit. If you have chosen a destination already, changing the departure date can lower your airfare cost.
  
  
• Another way to get lower rates is to set up alerts for times prices drop. There are several apps like this right now. These send you price notifications on price chances for those flights you are tracking. If your destination is within car distance, why take a plane? Consider a road trip, but make sure the trade off will be worth it.    
  
  
• Compare your lodging options: It can be tricky to find a cheap hotel room. This needs a bit of elbow grease, but of course, it can be done. You can start with checking sites which offer deals on hotels, hotels + flight package deals, and the like. Also look for hotel promo codes on the web. The other thing you can do, and this works out a lot, is to contact hotels directly in your destination city. Ask for a lower price, and negotiate. To cut down costs a bit more, think about staying outside the city center. Consider being open for last minute deals.
  
  
• Here are a few other things you can do. Book from likes like Airbnb. Hotels and rooms booked from here are just more affordable, but you can stay with a local from whom you can get directions to all the cheap restaurants and sights that is not shown in travel guides. Consider hostels as well, since these save a whole lot of money, have decent food and rooms to boot.   
  
  
• Eat wisely: Many underestimate the costs of eating while on a trip. This can add up to a significant amount if you’re not budgeting. Some experts suggest bringing your own food at least for the start of the trip, or buying it from a local store to save up on cash. This does not mean that you need to skip on eating out completely! It means you need to know when to save and when to indulge.

Savings Goals - 6 Things To Do After You’ve Met All Your Savings Goals

You’ve done a lot this year. You have created a nice emergency fund enough to take you over three months of all expenses. That high interest debt you had? You paid it off too, and have started to siphon a nice percentage of your income towards your retirement.

All this is great work, but now what?

In case you are wondering how to save money beyond the basic steps, this article is what you should read.

• Check your budget: Maybe you needed to have a strict budget to pay off a toxic debt. But now, with that over with, you can switch over to a 50/30/20 budget. If you are already using this budget model, reevaluate that and see what are your wants and needs. Thus, you’ll see that more money is available.
  
  
• Take care of the low priority debt: You have paid back the high-interest debt first, and that’s a good thing. In fact, that’s how it should be done. But don’t stop now that it’s paid. Start paying off the low priorities debts.
  
  
• Use your savings: A lot of people keep a significant part of their money in a savings account in the same bank that has a checking account. Perhaps you are doing this too. Now, this earns you maybe .06% interest a year. But this can grow faster. Consider moving your emergency fund or your savings into a different type of account. Consider Certificates of Deposits. These can lock up your money for a certain time while it earns a high interest rate. If you have extra savings, CDs can be a great option. However, these are not so good for your emergency fund since you may need it at any time. For emergency funds, a high-yield savings account is a much better option since these have a higher minimum balance requirement and have high interest rates.
  
  
• Don’t forget to invest: This is a good time to rethink how much you need to save up for your retirement. Perhaps you may need to start saving more for that, or even set up a personal retirement account. If you want to start building up a portfolio, reach out to a broker.
  
  
• Insure yourself: Revisit the basics like homeowner’s insurance and car insurance. Think about in which stage of life you are in, and what things you are preparing how.
  
  
• Think bigger: Till now, you have covered the basics. Now you can finally pay attention to savings goals and projects which you may have put off till now. Whether it is to start a new business, a family vacation, or perusing a new hobby, now is the time to do them all. Just focus on saving cash.

How to Set Financial Goals - 6 Things To Do After You’ve Met All Your Savings Goals

You’ve done a lot this year. You have created a nice emergency fund enough to take you over three months of all expenses. That high interest debt you had? You paid it off too, and have started to siphon a nice percentage of your income towards your retirement.

All this is great work, but now what?

In case you are wondering how to save money beyond the basic steps, this article is what you should read.

• Check your budget: Maybe you needed to have a strict budget to pay off a toxic debt. But now, with that over with, you can switch over to a 50/30/20 budget. If you are already using this budget model, reevaluate that and see what are your wants and needs. Thus, you’ll see that more money is available.
• Take care of the low priority debt: You have paid back the high-interest debt first, and that’s a good thing. In fact, that’s how it should be done. But don’t stop now that it’s paid. Start paying off the low priorities debts.
• Use your savings: A lot of people keep a significant part of their money in a savings account in the same bank that has a checking account. Perhaps you are doing this too. Now, this earns you maybe .06% interest a year. But this can grow faster. Consider moving your emergency fund or your savings into a different type of account. Consider Certificates of Deposits. These can lock up your money for a certain time while it earns a high interest rate. If you have extra savings, CDs can be a great option. However, these are not so good for your emergency fund since you may need it at any time. For emergency funds, a high-yield savings account is a much better option since these have a higher minimum balance requirement and have high interest rates.
• Don’t forget to invest: This is a good time to rethink how much you need to save up for your retirement. Perhaps you may need to start saving more for that, or even set up a personal retirement account. If you want to start building up a portfolio, reach out to a broker.
• Insure yourself: Revisit the basics like homeowner’s insurance and car insurance. Think about in which stage of life you are in, and what things you are preparing how.
• Think bigger: Till now, you have covered the basics. Now you can finally pay attention to savings goals and projects which you may have put off till now. Whether it is to start a new business, a family vacation, or perusing a new hobby, now is the time to do them all. Just focus on saving cash.

3 Tips to Save More in 2021 - What are the best ways to save money

Want to save money?

Who doesn’t!

There are hundreds of ways to do that each month. For instance, you can choose to walk to the park, walk to your office if possible by waking up early, but cutting down on unwanted subscriptions, and etc.

All of these things can be effective, but these are not mandatory. Instead, we will give you in this article three easy ways to save in a month. And best of all, these do not require sacrificing the small pleasures of life! After all, you may not want to cut off Netflix!

   Plug your spending leaks: What on earth is a spending leak? And how to plug that? A spending leak is the part of your income or budget that leaks away, or gets spent away, without your knowledge. It can also get spent unconsciously. For instance, you may spend on transportation one day unconsciously because of a certain situation.

   Spending leaks are of two types: unnecessary overspending and cash that you cannot account for. Common spending leaks include food, subscriptions, medicines, and fees.

   How to detect leaks: Use Google Pay or similar apps, or Mint.com. Both of these are free and help you to see where you are spending. Paid for a pizza last night? That cost will end up there too!

   How to unplug the leaks: There are several ways to do that. Firstly, create a 50/30/20 budget. Secondly, question your recurring expenses. Are they necessary? Thirdly, use the 4 Cs. (cancel services, challenge credit card charges, cut down on services, commit to longer subscriptions to get a discount).

   Use your card instead of your cash: Sometimes, it is better to use a card to pay with. When you pay with cash, tracking expenses can be tough. For instance, you buy something and pay with cash. But apart from in your memory, you make no note of it. After coming home, you make no record of that expense and it slips off your mind.

But when you pay with a card? Well, if it is a credit card, you will have a bill that you need to repay. If it is a debit card, well, your bank accounts shall have a record of it.

Cash is tangible. Thus, when you spend it, you have tangibly less cash. But when you pay with cash, it is a more intellectually challenging activity when it comes to keeping track.

Save seriously: After doing all the things we said in the article, you’ll be saving a considerable amount of money. What to do with it? Should you spend these right away? Or save these? The latter, of course! To make it easier for yourself, do this: make it an automatic process to deduct a part of your monthly income to your savings account. That way, you won’t be able to spend this amount on a whim.

How To Save Money - Best Tips to save money at Home

What comes into your mind when you hear the word savings? Checking accounts, emergency funds, banks? Let me inform you that you are a victim of finance-sophistication. What if I tell you that you can save money every day without even opening a savings account? Don’t believe me? Read on to know the simple yet effective ways to save more everyday.

Use public transport

Ditch your personal vehicle and take a hitch-hike or the public transport for a change. On an average, a city dweller spends around Rs.2430 per month on fuel. As a country with the lowest fuel affordability, using the public transport is both sustainable and cost-cutting in nature. A simple change in lifestyle has proven to be a great saving technique.

Invest in improving your kitchen

Investing in appliances that could help you in avoiding visits to banquets, restaurants and morning rounds to coffee-shops. It's obvious that high-end dining experience comes with endless bills, but sometimes visiting restaurants regularly, ordering-in food and spending money on coffee each morning could sum up to a grand total of bankruptcy.

So, go easy on your wallet and invest wisely on appliances that you might use on a daily basis, like kitchen appliances or a coffee-maker.

Follow DIY ideas to save up

There are many Do It Yourself blogs that you can follow in order to shrink your household expenses. DIY craftwork can be used to decorate your house or you can follow DIY blogs to make furniture from scratch. The Internet has come up with various blogs and articles that can help you in re-doing everything in your house by yourself without shelling out big bucks.

mymoneykarma, unfortunately, doesn't have blogs on these topics. We have DIY credit repair though!

Saving electricity

Saving electricity has been on the agenda of governments and scientists alike for a long time. Simple habits like switching off the lights and fans when not in use and buying energy efficient electrical appliances might seem futile but they can help you to save a cosmic amount of money in the long term.

Get rid of that cable TV

Technology is going through a brilliant metamorphosis each day, backed by the internet. Nowadays, cable TV is a thing of the past. OTT services like Netflix, Amazon prime, Hotstar, etc. have revolutionized how people consume media. Let's move ahead, shall we?

Getting healthy with a Gym membership?

Are you one of the lost souls who overcompensate for their unhealthy diet and non-existent physical activities by joining a gym? If your answer is yes then, let me break this to you: it’s not going to help you in any way.

Paying Rs.5000 each month for the gym that you visit once in a week is neither going to improve your health nor your wallet’s. So, ditch that gym membership and give a kickstart to your healthy lifestyle by practicing yoga, following trainers on youtube or making use of a variety of fitness apps.

Become a coupon-tracker

More often than not, we are oblivious of the good that surrounds us. Coupons are one of them. If you’re someone who loves to shop online, you can make use of coupons to avail of many discounts on your purchase.

You can track a plethora of such coupons online on a website or use apps which list out all the coupons linked with your retailer or the shop that you’re buying from. 47% of millennials believe that they have increased the usage of coupons in the past year. Blend in with the trend and grab on those coupons before they expire!

Switch to sustainable alternatives

Sustainable living is one of the most cost-effective and energy-efficient ways of life. Avoid the use of plastic cups, straws and plates. Instead, you can use edible or reusable cutlery which is cost effective and beneficial for the environment as well.

Mission Budgeting

A fine sense of budgeting could help you in saving a substantial amount of money. Complex financial planning, like investing in mutual and index funds, is essential for safeguarding your future in terms of finances, but the painless habit of budgeting could help you in saving up to Rs.100 each day, which is 3000 bucks a month and Rs.36000 a year!

A simple practice of daily or monthly budgeting can help you in saving up to Rs.36000. Pull up your socks and take control of your finances by following this easy guide on how to design a personalised budget system.

“Buy nothing week”

Ever heard about “buy nothing week”? Yes, it's exactly what the name suggests - not buying anything for an entire week. Have a “buy nothing week” each month. Plan your shopping around this week and spend on nothing but necessities. This practice can make you more disciplined in terms of managing finances and, of course, generate some savings at the end of the month.

Avoid impulse-shopping

Impulse-shopping is one of the major setbacks to sound financial planning. Know what causes you to shop on impulse and follow our guide to avoid splurging to steer clear of this practice.

Always compare the prices before making the purchase

Planning on making that big purchase? Make sure to compare the prices in different stores and online platforms. If there’s a low-variance in the quality offered, then go for the lowest priced good.

Save Money - 4 Clever Ways to Save Money

Most of us tend to pay all our bills at the end of the month. During this time, expenses may seem to mount up rather quickly. Your bank account takes a hit. Perhaps you, like so many others, think what you can do to cut your expenses? Is there any smart way to minimize wastage?

In this article, we are going to show you what to do.

• Slash away your wireless service: If you don’t have a contract locked in with a nation-wide carrier company like Vi and Reliance Jio, you can always consider going for a cheaper plan. You may want to look at your data usage as well. Do you ever use that much net data and talk time? If not, you are probably wasting the pack. Just downgrade a bit till you find exactly what you need. When the time comes to upgrade your mobile phone, think hard if you really need an expensive set. If you don’t, go cheaper. You don’t have to buy luxury items to get adequate features.
• Throw your landline out of the window: Almost everyone has a cell phone nowadays. Households are increasingly cutting off their landline connections for good because they just do not use them anymore. People’s lives now practically revolve around their cell phones. Some have more than one handset. Let’s face the reality: times change. If you don’t use your landline either, ditch the connection for good. You’ll save money by doing this.
• Cut the cable connection: Your cable connection costs a lot. Do you really need it? Do you have time to watch TV anymore? When was the last time you did so, and for how long? If you don’t watch TV a lot anymore, why not remove the connection for good? Instead, you can take NetFlix, Amazon Prime and the like. You can thus watch all the movies and TV shows you like at a fraction of the cost!
• Cut down your electricity bill: Did you know that some machines and instruments in your home are “energy vampires”? This means that even when they remain dormant, they keep sucking up electricity. These include coffee makers, TV satellite boxes, DVD players and more. Just by unplugging these you can save 20% of your electricity bills.

It is always prudent to see where and how you can save money. Stop wasting your hard-earned money, cut out unnecessary expenses and save money!

4 Clever Ways to Save Money - Best Ways to save money 2021

Most of us tend to pay all our bills at the end of the month. During this time, expenses may seem to mount up rather quickly. Your bank account takes a hit. Perhaps you, like so many others, think what you can do to cut your expenses? Is there any smart way to minimize wastage?

In this article, we are going to show you what to do.

Slash away your wireless service: If you don’t have a contract locked in with a nation-wide carrier company like Vi and Reliance Jio, you can always consider going for a cheaper plan. You may want to look at your data usage as well. Do you ever use that much net data and talk time? If not, you are probably wasting the pack. Just downgrade a bit till you find exactly what you need. When the time comes to upgrade your mobile phone, think hard if you really need an expensive set. If you don’t, go cheaper. You don’t have to buy luxury items to get adequate features.

Throw your landline out of the window: Almost everyone has a cell phone nowadays. Households are increasingly cutting off their landline connections for good because they just do not use them anymore. People’s lives now practically revolve around their cell phones. Some have more than one handset. Let’s face the reality: times change. If you don’t use your landline either, ditch the connection for good. You’ll save money by doing this.

Cut the cable connection: Your cable connection costs a lot. Do you really need it? Do you have time to watch TV anymore? When was the last time you did so, and for how long? If you don’t watch TV a lot anymore, why not remove the connection for good? Instead, you can take NetFlix, Amazon Prime and the like. You can thus watch all the movies and TV shows you like at a fraction of the cost!

Cut down your electricity bill: Did you know that some machines and instruments in your home are “energy vampires”? This means that even when they remain dormant, they keep sucking up electricity. These include coffee makers, TV satellite boxes, DVD players and more. Just by unplugging these you can save 20% of your electricity bills.

It is always prudent to see where and how you can save money. Stop wasting your hard-earned money, cut out unnecessary expenses and save money!

3 Tips to Save More in 2020 - What are the best ways to save money

 There are hundreds of ways to do that each month. For instance, you can choose to walk to the park, walk to your office if possible by waking up early, but cutting down on unwanted subscriptions, and etc.

All of these things can be effective, but these are not mandatory. Instead, we will give you in this article three easy ways to save in a month. And best of all, these do not require sacrificing the small pleasures of life! After all, you may not want to cut off Netflix!

Plug your spending leaks: What on earth is a spending leak? And how to plug that? A spending leak is the part of your income or budget that leaks away, or gets spent away, without your knowledge. It can also get spent unconsciously. For instance, you may spend on transportation one day unconsciously because of a certain situation.

Spending leaks are of two types: unnecessary overspending and cash that you cannot account for. Common spending leaks include food, subscriptions, medicines, and fees.

How to detect leaks: Use Google Pay or similar apps, or Mint.com. Both of these are free and help you to see where you are spending. Paid for a pizza last night? That cost will end up there too!

How to unplug the leaks: There are several ways to do that. Firstly, create a 50/30/20 budget. Secondly, question your recurring expenses. Are they necessary? Thirdly, use the 4 Cs. (cancel services, challenge credit card charges, cut down on services, commit to longer subscriptions to get a discount).

Use your card instead of your cash: Sometimes, it is better to use a card to pay with. When you pay with cash, tracking expenses can be tough. For instance, you buy something and pay with cash. But apart from in your memory, you make no note of it. After coming home, you make no record of that expense and it slips off your mind.

But when you pay with a card? Well, if it is a credit card, you will have a bill that you need to repay. If it is a debit card, well, your bank accounts shall have a record of it.

Cash is tangible. Thus, when you spend it, you have tangibly less cash. But when you pay with cash, it is a more intellectually challenging activity when it comes to keeping track.

Save seriously: After doing all the things we said in the article, you’ll be saving a considerable amount of money. What to do with it? Should you spend these right away? Or save these? The latter, of course! To make it easier for yourself, do this: make it an automatic process to deduct a part of your monthly income to your savings account. That way, you won’t be able to spend this amount on a whim.

8 Benefits of Opening Multiple Bank Accounts - Multiple Bank Accounts

 Nowadays, many people are opening multiple bank accounts due to various reasons, be it a job switch or for business purposes. However, the fundamental benefits of having multiple savings accounts are still in question. So, let's delve deep into the matter and discover some of the advantages that opening multiple bank accounts can have.

Save Money for Various Short-Term Goals

Often, when all you have is a salary account, it gets difficult to actually save money. Having an additional account can be of real help in this regard.  You can assign a goal to each account that you have and deposit money in them accordingly. Let’s discuss this with an instance - Say you are a travel enthusiast and wish to go on a foreign trip every year. So, you can open an account dedicated to that purpose and save a certain amount of money in it every month. Multiple bank accounts can thus help you save money diligently for short-term goals; however, make sure that you use the second account only for storing money, and keep yourself from withdrawing it unless entirely unavoidable.
Open Multiple Need-Based Accounts to Track Your Money

Nowadays, the government offers several services to different sections of people, under which you could get a subsidy in your account. For example - Under the Direct Benefit Transfer (DBT) scheme, the government transfers money as subsidies for LPG gas directly into your savings bank account if you come under a certain bracket, and there are around 400 more such schemes. Hence, it is beneficial to have a separate account for these subsidies. Likewise, you can have a separate account linked with your income tax returns, where you can receive refunds as and when applicable for you. If you are a pensioner, then it is better if you receive your pension in a dedicated account, as it makes tracking the funds easy.

Thus, it can be advantageous for you to maintain multiple bank accounts based on your different needs.
Keep Your Options Open

Having multiple bank accounts could also help you get through certain unforeseen circumstances. In case you face technical difficulties during a transaction from one of your bank accounts, you can always fall back on another account of yours to get it done. This can prove to be helpful especially in case of emergencies, and you will not be left without any options when you hit an unexpected roadblock.
Create an Emergency Fund

Dedicate an account exclusively to saving for an emergency. At the start of every month, transfer a specific amount of money to this account through a standing instruction to your salary account. An emergency fund will help you sail through tough times by providing you with a financial cushion at times of need.
Avail Different Perks from Multiple Banks

Different banks in India offer distinct interest rates and perks. Having multiple bank accounts gives you access to the best of such benefits. Holding a savings account in one bank and maintaining a good relationship with it could help you in availing a home loan with relative ease. Whereas, some other banks may offer higher interest rates on savings accounts. You may be eligible for rewards, exclusive facilities, and bonuses at other banks. Thus, the sheer variety of benefits offered by different banks makes it a good idea for you to hold accounts in many of them.
Avoid ATM Transaction Charges

Banks allow five free transactions from their own ATMs and three from ATMs of other banks. After these eight transactions, the bank starts charging you if you use an ATM with the same debit card. However, if you hold debit cards of two bank accounts, then, you can make up to 16 free transactions in a month.  
Avail Free Cheque Books

Usually, a bank offers only one free checkbook in a year. If you request for another checkbook in that financial year, the bank will charge you. However, If you have two bank accounts, then you can avail of two free checkbooks in a year.
Increase Your Credit Card Limit

Nowadays, banks often offer a credit card when you open an account with them. So, if you have two different bank accounts and credit cards issued from both of them, then the amount of credit that you can use will increase.