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9 Easy Ways To Save More And Spend Less

Personal Finance

Knowing your earnings and spending habits is very important, especially if you want to save your money. In this fast-paced world, it becomes difficult to find practical saving plans to help you spend wisely and manage your finances. One of the main reasons it is difficult to stick to good saving schemes is excessive purchasing, which adds extra financial stress to your budget. For some people, it is nearly impossible without adhere to strict saving plans, no matter how much they try to control their spending. This article explores nine saving plans to help you save more and spend less money. 

9 Easy Saving Plans

Here are nine saving plans you can adopt through which you can save the money that you earn. By spending less, you can save more and be in better financial health.

  1. Clear your debts

The first step in many effective saving plans is clearing your debts. If you have multiple debts, such as loans, a significant portion of your income and savings will be put aside for repayment. The best way to clear your debts is to plan your repayments on all debts, small and large. It must be remembered that before you can start saving more money, you must pay back all the money you owe.

  1. Manage your credit cards.

Most saving schemes will tell you that managing your credit card payments is one of the best ways to save more and spend less. You should start by setting up a plan to promptly pay your credit card bills every month on time to prevent being charged penalties and having your credit score lowered. A practical method that most people use is not storing their credit card data online to avoid overspending. Furthermore, you can set a spending limit by carrying cash or only one credit card when you go shopping. 

  1. Plan Your Grocery Shopping

You may be amazed by the effectiveness of saving plans related to grocery shopping. Plan your meals a week in advance and allot a fixed amount of money for your grocery shopping. This will keep you from unnecessarily splurging on extra food and goodies every time you shop for food. Another easy method to save money is to cook your meals at home rather than eat out at restaurants or order in. If you are tempted by the variety of options you see on food delivery apps, you can uninstall them. When you can buy the groceries you need for the week and cook at home instead of going out to eat, this is an excellent way to save money at restaurants.

  1. Cancel excess subscriptions.

With the plethora of entertainment apps and websites, you may unknowingly be paying for subscriptions that you seldom use or do not even realise you have. This is very common in the case of automatic subscriptions. Look through your account statement and cancel the subscription you do not regularly use. It could be a subscription to a streaming service or an app membership plan. Another good part of saving plans is sharing your subscription fee with friends and family members. For example, a single subscription can include multiple users on streaming platforms. 

  1. Plan large purchases.

Before you carry out large purchases, determine whether you need them. For example, if you already have a TV in your home but want a bigger screen with advanced features, carefully assess if your purchase is a priority. In most saving schemes, it is helpful to make a list (with pros and cons) containing the reasons you want to make a large purchase. Then, if you decide to purchase the item, search for good deals and offers from multiple sellers. 

  1. Plan Your Bonus, Rewards, and Refunds

At least once or twice a year, you will get bonuses, tax refunds, etc. Once you get this money, do not spend it immediately but rather, put it to good use. This includes more than just keeping the money in a bank account. For example, if you have a student loan or credit card bills due, use this money to pay them back. If you do not have debts, a good suggestion in most saving plans is to create a separate account and keep the money aside for emergencies. 

  1. Reduce your energy bills.

An environmentally friendly part of good saving plans is to save as much energy as possible by, for example, replacing energy-consuming bulbs with smarter LED bulbs. This reduces the amount of money you spend on electricity, reduces your carbon footprint, and helps you do your part to protect the environment. 

  1. Replace Vacations With Staycations

Whenever you plan a vacation, try to replace your vacation with a staycation, a holiday in the country or even the city you live in. A staycation can be enjoyable if you plan trips to local attractions with your friends and family. Instead of going overseas, you can save on airline tickets and hotel accommodations by travelling domestically. When it comes to spending less and saving more, cutting back on expensive holidays is a good part of your saving plans.

  1. Sell unused goods.

Decluttering is good not only for the space in your home but also for your savings. Many people reorganise their belongings and hold a yard sale of unused items such as clothes, furniture, or electronics in good condition. With apps, you can even do this online from the comfort of your home. 


At the beginning of each month, make a plan to pay your bills, subscriptions, rent, etc., on time. With good saving plans such as those mentioned in this article, you can control your spending and end up saving more money. As with all habits, good financial discipline takes time to master, but once you make it a regular practice, you will be in better control of your finances. For more useful articles like this one, visit the Piramal Finance website and receive more financial guidance and information on effective saving plans