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10 ways to Save Money in Pakistan - Money Saving Tips


Since you are reading this post, it shows that you have made your mind to start saving money and you want to explore ways to save money. So here we come with some very brilliant and practical money-saving tips. By adopting any or all of those which are physible for you, you can save a handsome amount very easily which can be used for further investment in any business or investments. It may also be very helpful in emergency situations as it will be an emergency fund.
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Here are a few things that I adopted and I am reaping its benefits. You could try these money-saving tips too:

Set Goals

First of all and the most important point is to have some goals. You must set your expenses and saving goals to start with. With goal-based financial management, it is easier to save money. You should save regularly and continuously. Save from your income first before you do anything else. You should put aside the saving first and then make your budget. 
It is better to be a member of saving committee or keeping some fixed amount aside as a saving. Saving committees are formed at the community level. All members of the committee collect a fixed amount and give it to a member every month. If you are a salaried person, you should keep some fixed amount on the day when you get your salary. And if you are a businessman e.g. shopkeeper, you should save on a daily basis. in many markets, shopkeepers have their daily basis saving committees and employees of the big companies and departments also manage such type of saving committees on a monthly basis.

Don't Take Loans 

Never take a loan from banks, credit cards and others who give a loan on interest as it will ruin your financial position. And if you have debt, first pay off these debts. Credit cards have the highest interest rate. Also always buy appliances on net cash as you will get discounts from the sellers instead if you buy on installments, the shopkeeper will charge you extra money.

Minimize Electricity Bill by using Energy Saving Appliances

Replace your old home appliances with the latest energy-saving models as the old models use extra electricity than the new models e.g. inverter air-conditioners save about 60 percent electricity.

Grow Plants and Vegetables at Home

If you have space in your home in the backyard or even on the roof, consider planting some vegetables and fruits at home. It will not only provide you fresh and healthy food but it also helps to save money.



Do Shopping Wisely

Don't buy dresses, shoes and other things unnecessarily. Usually, we buy things which we actually don't need just to take benefit of a SALE. Don't stock dresses etc for next season as the fashion changes every year so the dresses bought this year for next season may become useless next year.
Always buy grocery items from the markets where these are available at best prices. It is found that some same quality items are available at different rates in different markets and in different regions.
Also, don't buy things just to impress others.


Take Advantage of Sales

This point may seem contrary to the aforementioned point but it is not. In fact, sometimes you will need something in the near future and the same thing is available in the sale in-store or online sale, it is better to buy it. For example, if it is a new year sale and you have to give a birthday or anniversary gift in the next few weeks, you should buy from the sales because after all, you have to buy it then why not now and on cheaper rates. Another example is if you need a winter jacket and it is available on a sale price in the mid-summer or at the end of summer then please don't hesitate to buy it. So you can say this point is actually an extension to the previous point.



Use Discount Coupon Codes

Just like sales, online stores also offer discounts and coupon codes to its returning customers or just by subscribing in their email list or by installing their mobile app. Take advantage of these discounts.


Pay Bills on Time

With too much busy life, it is natural to forget the due date of the utility bills. And if you pay bills after the due date, you have to bear additional charges. So always pay utility bills on time. So it is better to register your utility services and mobile companies on your bank's internet banking facility. 

Cut Mobile and Telephone Expenses

You can cut your mobile and telephone bills by optimizing their use. Mobile companies offer various call and internet packages; take advantage of these and subscribe to the package which best suits you. Try to have a mobile number of the same company which your family and friends have. This way you will not have to bear extra charges of calling to other networks. Moreover, take advantage of Whatsapp like calling and messaging services, especially when calling overseas.

Buy Seasonal Fruits and Vegetables

Minimize buying off-season fruits and vegetables as they cost as much as 5 to 10 times higher. Fruits are much tastier in their season. 

Prepare Meals at Home

You should take your family for hoteling and also get them some quality fast food through home delivery services occasionally but don't make it a habit. Believe me, homemade meals are less expensive, much healthier and tastier than hotel food. 
Also, don't buy unnecessary packet food etc.

Final Words

Patience is a virtue when it comes to saving money. Be patient and you will enjoy the fruit of your savings in the future.


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