Saving money needs a simple yet planned approach. If you have a cash crunch often, it is high time you need to start saving and preparing your finances. Managing your personal finance is the first step you take towards a financially secured future; you need to take every financial decision with proper planning.

Here are the top 6 tips to start initiating your savings and taking a step toward a secure future.

Start with a Piggy Bank

It is just a myth that you need a lot of money to start saving. Initially, you can start with a small amount as well. If keeping a bank account daily is a problem and headache for you, start saving with a piggy bank. It might sound childish, but if you can save a tiny amount daily in your piggy bank, you can accumulate good money, which you can deposit later in your bank account. Your small daily savings can build a significant amount used in a financial crisis.

Savings Account

These days various banks are now offering different savings accounts specially designed to save money with varying schemes of interest that you can opt for. Opening a savings account can be the first big step in managing your finances.

You can save daily in your piggy bank, and every few months, you can deposit all your savings into your bank account. If you are a salaried person, try to keep a small portion of your salary every month in your savings account. It will be better if you can save money every month and cut down your unnecessary expenses.

Cut Down Unnecessary Expenses

The best way to cut down your monthly expenses is to prepare a proper budget for every month, fifteen days or a week. By making a budget, you can instantly check whether you are making any unnecessary expenses every month and decide whether it is crucial for you or not.

While preparing a budget, you need to prioritize your payments. While making a budget, keep the savings amount on priority, first keep aside the amount you want to save in a month, and then in the remaining amount, plan your other expenses.

Clear All Your Bills on Time

You need to pay many bills every month like rent, electricity and water bills, grocery bills, insurance premiums, college or school fees. If you clear all your bills on time, you save interest or penalty charges on any accounts delay.

Avoid Credit Card and Use Debit Card

A credit card is always beneficial, but if you are planning to save money, it is better to avoid using a credit card as much as possible for a few months. When you pay through your credit card, you unintentionally have expenses that you do not need to.

On the other hand, a debit card can be a good choice as it has a limited amount to spend, and you have to keep your expenses within that limit. Moreover, credit card usage can attract interest and late payment charges, an extra burden on your cost. To limit your monthly fees, this is why it is always better to use a debit card instead of a credit card.

Use Coupons and Compare Prices

Many websites offer different types of discount coupons for doing online shopping. While ordering food or groceries, try to use these coupons and help yourself save a good amount of money. You have already done this before, haven’t you?


Saving money is a good habit that you have to practice. You can start with a simple step: planning and execution. You do not need to be an expert financial planner to plan your finances, it only requires simple planning and a little bit of dedication, and that’s all you need.

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