Tips to save money

[Debashis]

Let's use this thread to share our tips to save money. I think it will be really helpful for the members who are struggling to save money regularly.

I would suggest not to spend more than 50% of your monthly total income (from all sources). Make a list of everything you spend on during the month, track and see how much you spend on them in total. If you see them exceeding half of your income, then see among the things you are spending, which ones are not really necessary to spend on. Try to strike them off. It is important to be disciplined in life. If not, it will haunt you badly someday.

[Heatman]

The magnitude of your expenses is what's going to determine if you're going to be spending more than 50% of all your earnings or not. The only way that you can do this is by cutting off all the unnecessary expenses that's going to take up a big hole in your earnings so you wouldn't have to breach the 50% gap in your earnings.

[Ola]

Saving money requires discipline and strategy. Automate transfers from checking to savings, track spending, and shop smartly with coupons and price comparisons. Cooking at home and limiting impulse buys are effective. Use cash envelopes for budgeting and cancel unused subscriptions. DIY tasks and negotiating bills can save money. Allocate windfalls directly to savings. Consistency with these methods builds financial stability and security.