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‘The only thing that money gives you is the freedom of not having to worry about money.’

You don’t need much money to start saving, whether you are a student, housewife, salaried or a business man you can always keep aside some money to save regularly.
You can also save by spending less,or cutting down on unnecessary expenses.

First thing first -Why you need to save ?

Saving even in very small amount but regularly can help you to avoid unnecessary debt for day to day costs like school fees, medical expenses or any such unforeseen expenses.
For even big goals like children marriage, buying car, buying home etc starting saving early will definately help to avoid the laons or atleast part of the loan .
Saving regularly will create a emergency fund which can be utilised if any emergency situation arises, remember to gradually top up that emergency fund if it get used. This emergency fund will come to your rescue in case of job loss, medical urgencies of self or family.
Savings will also help you to plan for any special event like birthday, anniversaries, vacations etc.

Doing regular small savings will get your job done without too much burdern in any unforeseen circumstance.

Okay I understand but How to do it?

Decide what you want to save for and how much you will need for that goal- consider inflation in your calculations to get right estimate of fund needed.
start saving early,the sooner you start sooner you will achieve the goal
Put your saving in secure and good scheme to ensure good and timely return -select products based on risk appetite.
Time is money,the more you give time to your money to grow more will be the return.
Try to automate your saving to make save in a disciplined way ,e.g. you can do standing instruction from your salary bank account to another account for a fixed amount every month to inculcate discipline in your savings. Also try to save extra as much amount you can if you get a bonus,arrear or any special allowance.

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Thanks for reading , Happy Saving !

Stay tuned for next post.