#  >  > Business, Marketing, Advertising, Finance >  >  > Business Management & Administration >  >  > Finance >  >  How to be smarter with our money?

## Bhavya

Being smart with money dont need to include high-risk investments or having thousands of rupees in the bank account. It doesnt matter what our present state is, we can be more economically savvy in our day to day life. Begin by planning a budget to stay within our incomes and rank our financial goals. Then, we can work on paying down our debt, structuring up our savings and making better expenses decisions. Can you guys tell me how to use our money in a smart way?

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## subasan

The common problem we face with money is to not save it. We should develop the habit of saving, Let it start from 1000rs/ month. Save for 3-6 months. Then spend 50% of the money on things you love. This will give you satisfaction. After that, increase your savings by 1500rs/month. The gradual increase in the savings will help you in a long run. Also, read/learn more on investments. Invest in assets and not in liabilities. Buying a car is not an investment but an liability. Investment on mutual funds, share markets. As said earlier, read the documents properly/ learn more on investments. Do not keep your money in the bank. Savings account is a total rip off. Trust me, banks uses our money for their own good. Hope this helps.

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## Bhavya

> The common problem we face with money is to not save it. We should develop the habit of saving, Let it start from 1000rs/ month. Save for 3-6 months. Then spend 50% of the money on things you love. This will give you satisfaction. After that, increase your savings by 1500rs/month. The gradual increase in the savings will help you in a long run. Also, read/learn more on investments. Invest in assets and not in liabilities. Buying a car is not an investment but an liability. Investment on mutual funds, share markets. As said earlier, read the documents properly/ learn more on investments. Do not keep your money in the bank. Savings account is a total rip off. Trust me, banks uses our money for their own good. Hope this helps.


Thank you very much subasan, These are very useful tips, Sure I will follow them, once again thank you. :Smile:

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## subasan

> Thank you very much subasan, These are very useful tips, Sure I will follow them, once again thank you.


This is the easiest way to save money. You will feel good after a while. Save as much as possible but don't forget to enjoy your life too. P.S. Put some minimum amount in your savings account too for emergencies  :Big Grin:

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## Bhavya

> This is the easiest way to save money. You will feel good after a while. Save as much as possible but don't forget to enjoy your life too. P.S. Put some minimum amount in your savings account too for emergencies


Yeah, the idea sounds good, So I am sure that I will feel good by this saving method. And yeah there is always an emergency savings.

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