How to save money by salaried person?

Saving is a skill  not mysery.

Earning matters but saving more matters. If you earn more but unable to save then it is not worthy.

But how to save? It is a big question.

Lets eloberate this.

👉 A central govt emplote usaually receives 2-3 times some extra money other than salry in one year.If we change the way of thinking then this money can be properly utilised for investing without any burden.

👉Source of extra income

1.DA(Dearness allowance) Arrear:

2.Uniform allowance

3.Festival allowance

4.CEA(Children Education Allowance)

5.ITR(Income Tax Return)

👉Example: Suppose an employe getting Rs50,000 monthly salary.Lets see how  he can save Approx 1 lakh yearly without any extra effort.

Dearance Allowance: Rs.10,000. 

He receives two times DA(3% approx) in a year and it is received as DA arrears after 3 month.This is extra money because time has already left and expenditures have been managed.

Uniform Allowance:Rs12,000.

He gets uniform allowance to wear a nice uniform showing smart personality.Think ,you are getting Rs50,000 monthly salary, you usually wear a nice uniform and buy whenever you feel to change for maintaining a  nice personality, you don't wait for this Allowance.So the uniform allowance may be extra money of your monthly budget.

Festival Allowance:Rs7,000

Will you not enjoy the festval being Rs50,000 salaried person?Ofcourse you will.So this festival allowance is extra money for you.

CEA:Rs33,000

Every one makes best effort to provide good education to his/her child.It is our moral responsibility.The school fee is already paid when we claim for CEA and no body keeps this money separately for paying the fee of ongoing academic year.So this may be extra for us if we think like this way.

ITR:Rs.50,000

We file the ITR  at the end of financial year.what ever expenditure is to be happen, already happend and managed.So ITR money received is additional.

So far we saved

Rs10,000+12,000+7,000+33,000+50,000

=1,12,000(One lakh twelve thousand)

👉Not only so much money you saved, you can invest lumsum or can start a Rs10,000  monthly SIP with this saved money which will become large amount in long term and can be utilised for major event like child marriage,higher education ,building house, Foreign tour, buying expensivr car and so many.

Example.A Rs.10,000  monthly SIP for 10 year with 18% expected return can give you Rs.31 Lakh

This is the power of saving skill.

👉Steps to follow

1.  Open a seperate saving account other than salary account.

2.  Transfer the extra money in this new account whenever you receive.

3.  Take help of  a financial expert  for choosing the right SIP for long term

4. Start the SIP and set Auto debit from this new opened  saving account.

👉Free register for Expert guidance & investment.

👆Start smart saving ,start Right SIP.

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