Thursday, February 22, 2018

How to Save Your Hard Earned Money? #SUPERBLOGGERCHALLENGE2018

How to Save Your Hard Earned Money?

Money is very important for our survival on planet and to maintain all our requirements and needs, we need money. The paper currency is of utmost importance in our life, you can’t buy any materialistic things in the absence of money.

When we debate on the topic, “importance of money” there are varied opinions and many disagree that Money is not everything and we can live without money. This is an emotional outburst, far away from the facts.

Watch a day in your life and see what you can fetch without Money…Only real happiness and contentment cannot be bought with money.

In today’s life, even we have to spend to purify air, use water and buy greens for greenery around….the height is we have to even buy soil for our garden…nothing comes without money.

So, we need to have savings for ourselves, to meet unexpected situations, critical illness, child education and retirement life…and even for beautiful experiences such as travelling to exotic places, experiencing beautiful moments of life, buying expensive gifts for loved ones and house renovations or getting a luxurious car.

If you plan your finances well, you can achieve your accidental and intentional goal, without being in debt.

Plan Monthly Expenses: 

Plan your monthly expenses before venturing for shopping and allot a budget to meet your ends. Put a stop to compulsive which most people indulge in due to shopping in malls and marts. The display and attractive discounts lures the customers. Buy what you need and don’t go after discounts for the articles that you can do without or you don’t need at all.

In children education, you cannot reduce much but other superfluous expenses can be curtailed to save for the future.

I don’t know how many will agree with me, but it’s a fact that a fat bank balance boosts your confidence and you are ready to face the reality of life or to enjoy in your leisure time.

We all know that drop by drop, ocean is formed and in same way, we can save few for our regular savings.

Start Saving from Today

1.  Systematic Invest Plan

Invest in SIP every month. You can start SIP with your bank account and the amount can be from 500 to any amount that you are comfortable to part with every month. The results are marvellous if you go for long term investments. The amount is invested in Mutual Fund units. There are different SIP’s of different companies and you can invest in any of them. If you want to have an idea of the results, study historical data or discuss with your financial planner.

2.  Invest in Health Insurance

Good health is vital and a visit to doctor for diagnosis and investigations subtracts good amount from our purse. Go for a health insurance for the family which covers all the members of the family. The health coverage is essential to meet the needs in urgency and planned hospitalization. Compare different health insurance and invest in them which has comprehensive coverage, reasonable premiums and no claim bonus.

3.  Term Insurance:

Term insurance is a must for the working people irrespective of gender because it secures the future of your family if you meet with an accidental death. The earlier you start, lower the premiums. In case of adversity, your standing loans will be covered by the term plan and your family and kids will get a sum to lead their life and continue education. The limit of coverage is proportionate to your income and you require to continue till full length of your service. It is renewed every year and the premiums are annual.

4.  Shares & Bonds

Put a part of your investment in shares and bonds that you don’t require in emergency, because share market is unpredictable, so never put emergency funds into it. The same goes for bonds because bond investment is for long run and the returns are low but the instrument is safe. Shares are volatile, it can give good returns provided you have the patience not to liquidate when market goes in bearish phase. Investment in shares and bonds are attractive but you require patience to withstand the volatility of market.

5.  Mutual Fund Investment

There are various schemes of mutual funds for investment. Choose the one that suits your profile and be ready for long term because gains can be enjoyed only in long term investments. Study historical data and company information, before putting in the money. Take help of a financial planner if you are not able to understand the strategy of investment.

6.  Fixed Deposits

You require ready money in bank accounts to meet your extra expenses or for use in distress. Park the money in FD instrument, it gives good and certain returns on the investment and you can choose any scheme with time span from 60 days to any length that suits you.

7.  Gold Investments

Many people take gold investment as dead investment but been an Indian, gold investment attracts and you can invest some part in gold every year. Gold will accumulate to use in the weddings of your children or if afflicted by bad times, you can get a loan on the mortgage of gold. The practice of gold mortgage is not welcomed in Indian society, but it saves you in hard times.

To inculcate saving habits in kids, inculcate habit of investing in piggy banks.

What I do for the savings

I invest in SIP & MF and health and term plan are in force. Annually, I invest some extra amount in gold. I run recurring deposit in bank to meet the renovation need of the house or for going on a tour with family and friends. RD investment does not make holes in my purse and it does not burden me with one time huge investment.

Try these skills and save your Money.


Remember, money is not easy to earn and the same goes for investment. Easy investments don't give much appreciation, long term goals give higher appreciation ans security.


I am not a financial analyst and the information that I have shared is from my personal experience.

Note: This is written for the #SuperBloggerChallenge2018 #Instacuppa hosted by and The challenge is from 15 Feb – 26 April 2018. 

#SuperBloggerChallenge2018 #Instacuppa


  1. Some helpful tips out here :)

  2. Health plan is so important in this era of many lifestyle diseases. A very good read! Keep it up...