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How to Save Money Efficiently

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Do you see yourself going broke by the end of the month? Do you find yourself borrowing money from friends and family?Then it is high time that you start a healthy savings habit. – PowerPoint PPT presentation

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Title: How to Save Money Efficiently


1
How to Save Money Efficiently
2
Introduction
  • Do you see yourself going broke by the end of the
    month?
  • Do you find yourself borrowing money from friends
    and family?
  • Then it is high time that you start a healthy
    savings habit.
  • Opting for FD and savings account is one of the
    ways by which you can save for your future
    financial goals.

3
Money Saving Tips
  • Track Your Expenses
  • This can be considered as the first step when it
    comes to money saving.
  • Making a note of your daily expenses will give
    you an idea of where the money is being spent.
  • Expenses can be divided into 2 categories
  • Daily - groceries, travel, food etc.
  • Monthly - rent, electricity bills, internet etc.
  • Bank statements can come in handy for tracking
    your online expenses.

4
Money Saving Tips
  • Set up a Budget
  • Setting up budget varies from person to person,
    hence plan and set up a budget that works best
    for you.
  • Plan your expenses and limit the areas of
    overspending.
  • Your budget plan should cover miscellaneous
    expenses like car maintenance, medical
    emergencies etc.
  • Savings Plan
  • Set aside at least 15-20 of your income for
    savings.
  • Keep a check on the non essential expenses like
    entertainment, food etc and try to fit them
    within your expense budget.

5
Money Saving Tips
  • Set Goals
  • Save according to your goals
  • Categorise your goals into short term and long
    term.
  • Short term goals include
  • Vacation trips.
  • Buying a car.
  • Long term goals include
  • Retirement plan.
  • Education of your child.
  • Prioritize
  • Prioritize your savings based on the need and
    this will give you an idea on what to save and
    when to save.
  • Review your budget from time to time, and check
    the monthly progress in terms of savings. This
    can help you stick with your savings agenda, and
    also help you in identifying your money leaks and
    solve them quickly.

6
VIJAYA BANK
  • Vijaya Bank is a PAN India Institution, serving
    diverse sectors of the society.
  • The Bank offers a bouquet of innovative and
    attractive products and services to its
    customers. It has also incorporated a host of
    latest Digital Banking products, to provide the
    best services to its customers.
  • Digital Banking services are
  • VPAYQWIK
  • Mobile Banking
  • Net Banking
  • Vijaya UPI
  • Twitter banking and many more
  • For details, visit https//www.vijayabank.com

7
THANK-YOU
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