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Save-Money-On-A-Daily-Basis

3 secret keys to achieve success with saving money

by Holistic Leave a Comment | Filed Under: Financial Plan

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What is the secret to saving money?

For those who are surprised on knowing this thought, let us put it short and straight –yes, there are a few secrets to save money. However, what is all the more surprising is to know that these secrets have already been made public for decades. Therefore, it is solely upon you to decide whether or not to use them, and how.

Here are the secrets to saving money:

    1. Budgeting
    2. Utilizing left over money
    3. Are your expenses exceeding your income?
    Conclusion

1.Budgeting

What is the most significant part in the process of successful financial planning?

It is effective budgeting.

Many of us here are not sure about where to start. You cannot just directly start dreaming about saving money, without actually having a calculative analysis of the income as well as the expenditure. This will include all the income that is coming in, and going out. This prediction can be best done annually, as monthly calculations may meet fluctuations.

Let us understand how an effective budgeting will be about .
Analyze your Bills: Bills will include everything from your house rent, gas and electricity, water, phone, tax, internet and car expenses, to insurance and bond payments. You should also not forget any other debts (if any), and your child’s expenditures.
Next, will be your daily expenses. These include everyday items like food/ groceries, petrol, household items, holidays, dine out, and other entertainment.This also includes an estimation for unexpected costs, such as repairs due to wear and tear.

Once you have the expenses for the whole year, you can go ahead calculating your monthly and weekly expenses.

Then, you will be calculating your income. This will comprise of your salary/ earnings, returns from savings or investments, and other sources of income generators.

You may even look at your bank statements to get precise details to get a picture of the money coming in, and going out.

2.Utilizing left over money

Towards the end of a month if you have any excess money left, then you must not leave it unnoticed in your bank account or spend without giving a thought. Let us learn the best ways to consider in case you have money left over.

It will be a lot beneficial to put the extra money into a savings account, or invest it with something yielding good returns.

You can also consider having a rainy day fund, to be used for an emergency or unexpected expenditure. The minimum recommended amount for this fund is thrice your monthly wage.

Next, you may also want to save in case you are thinking about making any large purchases in the coming time. This may include a new car , or house, or fulfilling any other of your wishes.

One can also choose to put his additional funds for clearing any of his existing debts, or building up his pension.

3.Are your expenses exceeding your income?

If this case holds true, then you must take an action immediately to avoid accumulating debt. Let us understand a few measures that you can take in such a scenario.

Don’t be lured towards availing a personal loan or spending via credit cards , just for supporting your spendthrift lifestyle.

Figure out how you can effectively utilize your ‘financial planning’ acumen to cut down on your expenses and increase your savings . You can consider various options to reduce your spending such as low-priced insurance, preparing meals at home to avoid eating out, etc.

Look for options that can help you build additional funds. For this, you may think over investing time in a part-time job, or claiming tax benefits.

Conclusion

Always remember that budgeting your personal finance effectively is the primary step towards ensuring yourself with financial security in the future. Thereafter, it is imperative to update the budget on a regular basis, just to keep a check on the wavering income and expenses w.r.t. time. You may even seek help from your financial planner. To make all the successful investment principles and techniques work in your favour, you may test-drive our services by opting for

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Jey S
Jey S
24. September, 2021.
I have been using Holistic Investment Planners for the last three years. Mr. Srinivasavaradhan answered all my questions and doubts very patiently during the first free consultation. I was able to clearly define my short-, medium- and long-term goals once I signed up for the comprehensive plan and got their investment plan suggestion to achieve my goals. They are very polite and highly professional whenever I contact them for any queries or make investments. They never pressurize you to invest on their recommended financial products. I would have been lost money by investing directly without their help since I do not have time and knowledge about different financial products. Risk planning is also done as part of financial planning. Truly, they are holistic planners when it comes to your financial planning. They help you to define your life goals, understand your financial resources and establish a plan to invest towards reaching those goals. They do review your plan as you progress to make sure that you are on correct path to achieve those goals. Kudos to the team and keep up the good work!!! I am happy that I found holistic investment planners for my financial planning and management.
aksaswadkar
aksaswadkar
24. September, 2021.
I was about to retire and really not understanding how to invest money to have financial freedom and fulfilling my goals. Was desperately searching on internet way out and fortunately came across Holistic Investment Planners. I read number of articles on their website and realized that this is the agency which I want and engaged their services for my retirement planning. It is an excellent experience to be associated with Holistic. Right from day one our interaction was fantastic and they gave me such a wonderful plan that I had never imagined. I am fortunate enough to be in the client list of Holistic. I have recommended Holistic to my friends as well.
Lionel Faber
Lionel Faber
16. September, 2021.
I've been availing their services for the past year. They are highly knowledgeable in the field and are very patient with all doubts and queries. Personalized financial planning is provided keeping your short term, medium term and long term goals in mind. They do not pressurize you to purchase schemes of their choice. They provide their input and suggestions and leave the decision up to you which shows their honesty and high principle.
Sridhar
Sridhar
8. September, 2021.
Financial planning brings peace in life. Holistic Investment have supported in arriving financial plan based on future goals. My investments are regular since then. They are professionals in their business, will recommend others.
Nitesh Agrawal
Nitesh Agrawal
6. September, 2021.
I have been using Holistic Investment Planners from last one year. The journey has been fantastic. Being a finance person myself I always thought we can look after and plan own finances also. However, due to lack of time and deciplain the things are not always as desired. After joining with Holistic Investment for the first time Icame to know the Financial goals and quantified them. Some dreams were unrealistic based on the earnings and savings so had a reality check. Also got the information and deciplain of investing on regular and more rewarding securities. I definetly suggest to use Holistic Investment Planners. They are professionals, available and hear youor full story before presenting plans. They are flexile in the sense if there are some urgent deviations required, they help to plan the same. For all professionals/individuals I would suggest using professional help of Holistic Investment Planners for best results in long term investment and financial goals achivements. Last advise will be to start early in your life. It really pays well to start in the beginning itself else the dreams needs to adjust :)
Swetha Vasanth
Swetha Vasanth
6. September, 2021.
This is my first year service with the Holistic Team and I would say that they are very much helpful in creating a financial plan and follow ups during the year. I would definitely suggest them if anyone who is willing to proceed with their savings professionally.
Joseph Mathias
Joseph Mathias
6. September, 2021.
I came to know about Holistic Investment Planners online while searching for different investment ideas. Once I contacted them the journey was very smooth. Mr. Ramalingam explained all the aspects of Financial planning in detail and it opened my mind. I realized how important it is to have a Financial planning. Mr. Rajan suggested all the requirements as per my goals and made a Investment plan keeping in mind of my goals. I started my Investment journey with them. I wish I had done it some years back then it would have been in a different level. Review meetings were held every six month to check the implementation of the plan and check the results as per the requirements and to check if any changes required. Overall it was a good experience with Holistic Investment team and would like to continue in the years to come.
Srinvas Kannan
Srinvas Kannan
30. July, 2021.
I came across Holistic investment planners almost 5-6 years back, but I did not have the trust since I had met a few of them who did not sound promising. Then I started investing through a financial advisor of my friend. After 4 years of investing the returns were very low. I was disappointed and started looking for financial advisors when I came across Holistic investment. I had a detailed discussion about my goals and the way they would approach achieving my goal before deciding to switch my investments to them. After a thorough analysis of my then existing portfolios, they suggested new ones and we zeroed-in on 6 schemes/funds where our investment would be split. I am glad I made the decision of switching over and taking Holistic planner's advise, my returns are handsome and I only wish I could have taken their help/advise 5 years back itself. Neverthless, I would like to recommend their services for investment and financial advise if someone is serious about their investments.
Shivaram Andiappan Selvaraj
Shivaram Andiappan Selvaraj
3. July, 2021.
I got a free first time consultation. I got my doubts resolved. They also gave additional advises for investment planning which was also useful.
Nellai B
Nellai B
26. June, 2021.
I have been associated with them for the past three years. They are very professional and polite in answering all our questions. I have complete trust in their suggestions. I strongly recommend for anyone. I am looking forward to have strong and successful association with them.
Google rating score: 4.4 of 5,
based on 61 reviews.

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