Indeed You alone know Yourself by Your internal potency O Supreme Person Origin of all Lord of all beings God of Gods Lord of the universe The Supersoul You are the Supreme Primal Objective You are the ultimate resting place of the universe You are inexhaustible and You are the oldest You are the maintainer of the eternal religion, the Personality of Godhead Oh master of the senses Oh Primal Lord O Limitless One God of Gods Refuge of the universe You are the invincible source The cause of all causes You are the knower of everything and all that is knowable You are the supreme refuge above the material modes O limitless form This whole cosmic manifestation is pervaded by You O unbounded power You are the master of limitless might You are all-pervading and thus You are everything Omniscient The ancient The Ruler of the whole world Minuter than the atom The supporter of all Of form inconceivable Effulgent like the Sun and Beyond the darkness There is nothing whatsoever higher than you You are the Sapidity in Water The Light in the Moon and the Sun You are the syllable OM in all the Vedas Sound in ether You are the Virility in men You are the sweet fragrance in earth and the brilliance in fire You are the life in all beings The austerity in the austere You are the eternal seed of all beings The intelligence of the intelligent You are the Splendor of the Splendid You are the Strength of the Strong Guest
Ehindero Gloria

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Simple Ways To Save Money




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Sometimes The Hardest Thing About Saving Money Is Just Getting Started. This Step-by-step Guide For How To Save Money Can Help




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Rheatobi
Simple Ways To Save Money
~7.4 mins read


Sometimes the hardest thing about saving money is just getting started. This step-by-step guide for how to save money can help you develop a simple and realistic strategy, so you can save for all your short- and long-term savings goals.

1

Record your expenses

The first step to start saving money is to figure out how much you spend. Keep track of all your expenses—that means every coffee, household item and cash tip.

Once you have your data, organize the numbers by categories, such as gas, groceries and mortgage, and total each amount. Use your credit card and bank statements to make sure you’re accurate—and don’t forget any.
Tip: Look for a free spending tracker to help you get started. Choosing a digital program or app can help automate some of this work. 

2

Budget for savings

Once you have an idea of what you spend in a month, you can begin to organize your recorded expenses into a workable budget. Your budget should outline how your expenses measure up to your income—so you can plan your spending and limit overspending. Be sure to factor in expenses that occur regularly but not every month, such as car maintenance.

Tip: Include a savings category—aim to save 10 to 15 percent of your income.

3

Find ways you can cut your spending

If your expenses are so high that you can’t save as much as you’d like, it might be time to cut back. Identify nonessentials that you can spend less on, such as entertainment and dining out. Look for ways to save on your fixed monthly expenses like television and your cell phone, too.

Here are some ideas for trimming everyday expenses:
  • Use resources such as community event listings to find free or low-cost events to reduce entertainment spending.
  • Cancel subscriptions and memberships you don’t use—especially if they renew automatically.
  • Commit to eating out only once a month and trying places that fall into the “cheap eats” category.
  • Give yourself a “cooling off period”: When tempted by a nonessential purchase, wait a few days. You may be glad you passed—or ready to save up for it.

    • 4

    Set savings goals

    One of the best ways to save money is to set a goal. Start by thinking of what you might want to save for—perhaps you’re getting married, planning a vacation or saving for retirement. Then figure out how much money you’ll need and how long it might take you to save it.

    Here are some examples of short- and long-term goals:

    Short-term (1–3 years)

  • Emergency fund (3–9 months
    of living expenses, just in case)
  • Vacation
  • Down payment for a car

    • Long-term (4+ years)

  • Down payment on a home or a
    remodeling project
  • Your child’s education
  • Retirement

    • If you’re saving for retirement or your child’s education, consider putting that money into an investment account such as an IRA or 529 plan. While investments come with risks and can lose money, they also create the opportunity for growth when the market grows, and could be appropriate if you plan for an event far in advance. See step No. 6 for more details.

    Tip: Set a small, achievable short-term goal for something fun and big enough that you aren’t likely to have the cash on hand to pay for it, such as a new smartphone or holiday gifts. Reaching smaller goals—and enjoying the fun reward you’ve saved for—can give you a psychological boost that makes the payoff of saving more immediate and reinforces the habit.

    5

    Decide on your priorities

    After your expenses and income, your goals are likely to have the biggest impact on how you allocate your savings. Be sure to remember long-term goals—it’s important that planning for retirement doesn’t take a back seat to shorter-term needs.

    Tip: Learn how to prioritize your savings goals so you have a clear idea of where to start saving. For example, if you know you’re going to need to replace your car in the near future, you could start putting money away for one now.

    6

    Pick the right tools

    If you’re saving for short-term goals, consider using these FDIC-insured deposit accounts:

  • Savings account
  • Certificate of deposit (CD), which locks in your money for a fixed period of time at a rate that is typically higher than savings accounts
    • For long-term goals consider:
  • FDIC-insured individual retirement accounts (IRAs), which are tax-efficient savings accounts
    • Tip: You don’t have to pick just one account. Look carefully at all of your options and consider things like balance minimums, fees and interest rates so you can choose the mix that will help you best save for your goals.

    7

    Make saving automatic

    Almost all banks offer automated transfers between your checking and savings accounts. You can choose when, how much and where to transfer money or even split your direct deposit so a portion of every paycheck goes directly into your savings account.

    Tip: Splitting your direct deposit and setting up automated transfers are simple ways to save money since you don’t have to think about it, and it generally reduces the temptation to spend the money instead. 

    8

    Watch your savings grow

    Review your budget and check your progress every month. Not only will this help you stick to your personal savings plan, but it also helps you identify and fix problems quickly. Understanding how to save money may even inspire you to find more ways to save and hit your goals faster.

    Source: bankofamerica.com

    7 Simple Ways To Reduce Your Expenses Easily In 2020

    Are You Wondering Where All Your Money Is Going? If You Are Looking To Save Money, One Way Is To Reduce Your Expenses. There Are A...
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    Rheatobi
    7 Simple Ways To Reduce Your Expenses Easily In 2020
    ~3.9 mins read
    Are you wondering where all your money is going? If you are looking to save money, one way is to reduce your expenses. There are a lot of ways to cut down on your expenses and we’ve narrowed them down to seven. So, here are 7 ways to reduce expenses:
    1. Track down Where You Spend Your Money
    keep-a-track-of-your-spending-to-save-money
    Reducing expenses can change your lifestyle. The best way to reduce your expenses is to determine where your money is going. Track down your purchases for a month and list them on a spreadsheet or an app. List everything you purchase and bills you pay every month up to the last cent. This way, you can easily monitor your spending patterns and know exactly where your money is going.
  •  Stay Away From Unnecessary Purchases
    • Unnecessary Purchases
    Every penny counts. If you are serious about reducing your expenses, make sure to have a budget and a list of things you need to buy. This can save you time and money because you don’t need to go to the shop and buy things impulsively. Having a list can give you a clear idea of what you need to buy which eliminates unnecessary purchases.
  • Save Energy
    • Utilities are part of our daily lives and are mostly being consumed every day for our comfort. Saving on energy usages such as water, gas, and electricity can help reduce monthly expenses. Start by changing the habit of using them.
    On ELECTRICITY: Use energy-saving appliances such as fans instead of using your air conditioning all the time. Invest in energy-efficient lightings such as LED lights or fluorescent bulbs instead of the incandescent ones. Turn off the electrical appliances when not in use.
    ON WATER: Learn to take quick simple showers to save on water and make sure to fix any leaks from the toilet or your faucets. Turn off the faucet when brushing your teeth.
  • Spend less on food
    • spend-money-food
    Although it is quite convenient to eat out, it is still best to cook your own food at home. One way of reducing your expenses is to prepare your own food and drinks beforehand so you don’t need to buy food on your way to work or school. You can use coupons when you buy items on the grocery. Remember to buy fresh foods that are in season because most of the time it costs less.
    When cooking, make sure you measure the product that you need so you won’t waste food such as flour or butter. You can also grow your own vegetables and herbs in pots or garden to use them fresh whenever you need them.
  • Consider using pre-owned items
    • pre-owned items
    Buying new things may give you a sense of fulfillment but don’t you think helping the environment by recycling is much better? Thrift stores have incredible bargains on everything, from clothes to appliances and furniture. You can also look for garage sales to help out a neighbor or host your own if you have anything to sell that you don’t need. There are numerous sites on the internet that also offer bargain deals such as craigslist or eBay if you really need to purchase something.
  • Cut down on leisure time
    • leisure time
    When a new movie comes out or any concert from famous people is announced, normally some people are already lining up for tickets to see the premiere shows. Unknowingly, they don’t realize that this cost a lot of money. Tickets may cost hundreds of dollars especially for professional sports events or music concerts. You can watch sports on TV together with family instead. You can take your kids to parks or camp out for a holiday instead of bringing them to expensive amusement parks.
  • Walk or ride a bicycle to work
    • ride a bicycle to work
    If you are just a few kilometers away from your work, you can walk or ride a bicycle instead. By doing so, you can be fit in no time and also save money. You can reduce your expenses in buying gas for your car or paying a ride to commute on trains and buses.
    Conclusion
    These are some easy ways you can reduce your monthly expenses and start saving money. You can also use various personal budgeting tools available online. Use free daily expense tracker app or iTunes business receipt app to have better control over your expenses. These useful apps and tools can be really very handy in long term.
     Source: Rohini

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