Different people have different perception and attitude towards money. Due to which some are “Saver” while some are “Spender”
People save money to keep it for rainy day i.e. for worst and emergency time while those who spend more want to live the life full.
There is also big difference between “Saving” & “Investment”.
Many people complaint that despite of having huge salary and earning so much of money, they are left with nothing in the end.
In this video, we provide you with tips how to manage and save money efficiently.
2:57 Record your expenses
3:24 Make a budget
3:49 Plan on saving money
4:15 Set saving goals
4:46 Watch your savings grow
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“Save Money & Money will Save you”
Hello friends…!!! Welcome to Eus Media Production In a society, there used to live 3 families Sharma family Saxena family and Kapoor family Each one of them has different thinking towards money like Sharma family believes on saving money and just like their surname they used to spend very less money Due to these kind of habits society used to call them as ‘miser’ family On the other hand Saxena family were expert in spending lots of money Sometimes they also borrow money from other peoples just to fulfill their needs because of which society used to call them as 'borrower' family But Kapoor family were different from both of them They used to spend money but at the same time they used to save money also so that they can use that money in emergency and due to these kind of habits they were known as 'respected' family in the society Most of the people spend their money on the things which they don’t want and that too with the money they haven't earned just to impress those peoples whom they don’t like Its people perception and attitude towards money because of which some of them are SAVING it whereas some of them are SPENDING it Some people save money so that they can use it during emergency where as some people want to live their life fully that’s why they spend a lot of money Some people wants to secure their future that’s why they save more whereas some people think "money is just a dust of hand" therefore they don’t have any future plans Savers are known as money takers and spenders are known as money givers Keeping one's intentions and desires in mind some peoples are careful towards money whereas some are careless Most of the people think that saving is as equal as investment but it’s not correct In saving, your money is secured Whereas in investment your money might not be secure provided you have invested it in safe and legal place In saving, we can save our money in simple saving account whereas to invest money, we have to face mutual funds rules, regulation and policies In saving, we can withdraw our money anytime but in investment, we can get our money after a particular period of time In saving, the profit margin is low whereas in investment there is more opportunity to earn money Most of the people among us waste their half of the life by thinking that how to manage money Lots of people complain inspite of having good salary, Incentives and bonus nothing remain in their hand Here the question arises how to manage and save money efficiently? 1) RECORD YOUR EXPENSES If you want to save money then first give attention on your spending First of all make a list of your one month spending E.g: coffee, newspaper, snack and all that things you buy for your monthly use Once the list has been created divide it into a different categories and calculate the total amount 2) MAKE A BUDGET Now you have a list of your spending so it’s time to make a budget At the time of making budget just remember your future goals and net income Make a plan for how to personalize your budget which suits your condition Always remember to include expenses that happens regularly, but not every month 3) PLAN ON SAVING MONEY keeping your monthly expenses and earning in mind Make a saving column in your budget and try to save 10-15% from your net income It may be possible that you have to neglect your unwanted spending such as restaurant, shopping and party then only you can complete your future goals and expenditure with your saving 4) SET SAVING GOALS Usually every person have two types of goals short term goals and long term goals Financial goals are beneficial for us because than we work hard to save our money in order to accomplish that goal Short term goals includes saving, a long holiday or a big car which takes approximately 2-3 years to fulfill it on the other hand long term goal include retirement plan, future studies and property which takes several year to complete 5) WATCH YOUR SAVINGS GROW This step is little bit difficult but at the same time it is important Keep eyes on your saving and note down your monthly saving growth By doing these you can improve your's saving and reduce your expenses continously By keeping record of your savings you can see your financial problems and idea to solve that problem So to conclude every person should give attention to how and where to spend money There is an old proverb that "it is easier to earn money than to spend it wisely" Don’t buy those things which you had not plan yet so that you can stay away from extra expenditure When you start balancing your saving and spending you will find happiness in every small thing Hit "LIKE' button if you found this video useful comment your views share this video with family and friend so that they can also get idea how to save moeny Subscribe to my YouTube channel we will share such ideas, tips and thoughts with you every week Turn "ON" the notification of our YouTube Channel if you don't want to miss any of our new videos follow us on Facebook and Twitter for more updates Thanks for watching Last but not the Least "Save money and money will save you…!!!"