All Entries Tagged With: "how to save money"

We often live with the fear of recession, job cuts, stock markets crashing, political instability, health related problems, etc and thus saving is very important for facing unforeseen situations in our life and sailing through successfully. Savings could be in the form of bank fixed deposits, recurring deposits, postal certificates etal. All these saving options give us good returns in due course of time. Most importantly they are a place where we can say that our money is safeguarded and we can blindly deposit money and let is multiply. Savings have to be invested by a proper channel like banks, insurance and post office to get the right profits as and when we need in future as you cannot make money by just keep your money under the mattress or stashed away inside a locker. Before  [...]

Okay, I am not revealing any magic trick but an incident that occurred a couple of years ago. Though I had paid most of my debt, I was finding it extremely difficult to save money. I wanted to invest money desperately, but I wasn’t left with any at the end of the month. Mrs. Wilkinson, my neighbor, and I share a good rapport. She told me how she accumulated funds to buy this house and to my surprise, she never borrowed any mortgage. The formula, she explains, to save money is simple – Use the magic of $5 bill. Looking at my flabbergasted expression, she laughed and explained the secret of her magic. It was simple – stuff all $5 bills you come across into your saving except unless you are called for an investigation by the CIA for disappearing all currency. Weird formula, I thought,  [...]