When people hear the term ‘financial planning’, they start thinking about filing income tax returns, sitting down with calculators to perform advanced computing tasks, and reading the offer documents of every financial planning firm. But after you read this, you will realize that you can plan out your finances in the simplest of manners by making minor adjustments in your day to day living! Let us look at some unusual ways in which you can bring your financial life on track –
· Use public transit: Petroleum prices are rising at a massive rate. Comparatively, public transport such as local trains, metro, and AC buses are cheaper. You can save several thousands of bucks every month if you just cut down on your car traveling and instead choose to travel by public transport.
· Use free calling apps: Cell phone bills constitute one of the major spending every month. These days, smart phones offer apps that can totally cut down your phone bills. You can make free calls, as well as text without paying a single penny. All you need to spend on is a basic internet plan! You can save several thousands of rupees per month by cutting down on your phone expenditure.
· Replace old lights and other electrical appliances: Old lighting fixtures and appliances such as air conditioner and geyser can consume a lot of electricity. It is advisable to replace them than to continue using them. While some people often wonder that it is not worth it to spend money on new appliances, it is definitely cost effective in the long run.
· Create alarms: There are various types of alarms that you should set namely credit card payment, phone bill payment, electricity bill payment etc. This will help you to pay the bills on time and avoid hefty penalties. Paying penalties is a totally unnecessary habit and shouldn't be inculcated. One would rather donate that money than to give it as a late fee!
While these are some homely remedies to save money and improve your financial health, if you want to invest money then you should invest with financial planning companies.