Easy Money Saving Hacks for 2020
Автор: FinSafe India Private Ltd.
Загружено: 2019-12-23
Просмотров: 85
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5 Easy Ways to Save Money in 2020:
1) Follow a budget:
Create a budget with your recurring monthly expenses and also the one time expenses that come up like insurance premium payments, subscription renewals, etc. Compare your total spending with your total earnings and if spending is more than earning, then relook your expenses and cut down to save more.
2) Pay off credit card debt:
The longer you carry a credit card balance, the more interest you pay and end up having lesser money. So, pay off your credit card debt at the earliest and go on a loan detox.
3) Choose the right investments
Consider tax efficient investments which beat inflation such as equity and debt mutual funds or PPF. Stay away from traditional investments like ULIPs, and fixed deposits.
4)Automate:
Automate your finances. Automate all your payments to remove any human error or chance of missing on payments. Also set up auto debits to save regulalry, e.g. recurring deposit or mutual fund SIPs.
5) Invest Bonus and salary raise instead of spending it:
Any raise you get is extra money. Plan well invest it rather than spend the extra amount.
Make Saving and Investing and not living life on loans your mantra for 2020
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