There are several means to save money, but one of the most important is the simple changes you can make to your lifestyle to increase your savings. We often spend large amounts on something we don’t need, or forget to account for small expenses that build over time which can be done away with. Having said that, here are a few lifestyle changes that can help you save more money: 

• Pay your bills on time:

You may be receiving various bills like Electricity, gas, phone bill, etc. All these have a due date after which late payment charges are applied. It is good to pay the bills a little in advance to avoid late payment charges. Alternatively, you can automate the payments for these which will ensure you do not miss the due date. However, in this case, do not forget to keep track of the bill amount every month.

• Buy your groceries at the local market:

You will always get a better deal buying your fruits, vegetables, meat and eggs from the local market. Supermarkets can be costlier and they tend to hoard supplies – so you don’t know how fresh your groceries are. Always remember to carry your own bag as the money you spend purchasing one every time you shop adds up quick.

• Eat out less often:

Eating out can save you the time of cooking a meal and provide you a variety that may not be possible to get at home. However, it is extremely expensive and you can save a lot of money by cooking your own meals. While there will be times that you decide to buy a meal, it is important to keep in mind that, spending on junk food, is both unhealthy and unnecessary and you should do it as rarely as possible.

• Keep your travel to a minimum:

Live closer to your workplace; if you have kids try to find a good school within your locality or as close as possible. Travelling long distances can be extremely expensive and physically taxing, especially in large crowded cities. Try to use public transport as much as possible and restrict your usage of cabs. If you frequent particular routes, like travelling to your workplace, getting a monthly pass can save you some money and the hassle of spending cash on a ticket every time.

• Always remember to compare prices before making a purchase:

In today’s world there are so many choices; in terms of both in range of similar products and places to make the purchase. Always remember to compare prices before making a non-routine purchase so that you know you get the best deal. Ensure that you check both your local and online options.

• Avoid using a credit card and keep your savings in a separate account:

Always try to avoid using a credit card as you may not be aware of how much you are spending and may exceed your means. When you get your bill at the end of the month, you may not be in a position to clear it, thereby mounting debt. Additionally, it is also good to keep your savings in a separate account. This will ensure that you do not spend it prematurely on things you may desire at the moment but don’t require. 

Apart from these changes to your lifestyle, a financial advisor will be able to help you identify more ways to save money and build your corpus. The lifestyle changes you make should complement the various other strategies in place to save, within the scope of your financial plan.