Tricks to Save Money: Use these clever tricks to save more money

Tricks to Save Money -image

You know, one can use clever tricks to save money. This way one can fool self, and save more. But why to resort to fooling self?

Because saving money does not come naturally to people. We are psychologically better spender than a saver. This is why we need to use tricks to save money.

When I first conceived this idea, it was not clear that how effective will be its implementation. But today, after self practice, I know that these trick are super benefitial.

These tricks to save money cannot make one a millionaire. But for sure, one will be more better-off that he/she is doing today.

Problem with saving money…

As I said, we all are natural spenders of money. Some spend more and other spend less. But all in all, if given a choice we will pick spending over saving.

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Hence, it is not easy to consistently save money year after year. Moreover, saving money look less and less lucrative due to the soaring inflation. Why?

Because the saved money looses it’s value with time (due to inflation). So what is the use of savings?

This is the not right way of looking at savings….

Tricks to save money - save invest inflation

No matter if the inflation is high or low, one cannot stop saving money. Because if the target is to beat inflation, we have to invest money. And to invest money, we will have to save it first.

Saving money and innovation….

We need to think innovative, to maintain the habit of saving money. Yes, innovation helps to save a lot more than one can do in normal ways.

Here you will find such innovative tricks to save money that will make saving easy and effective. Try these tricks for one month and you will see the benefits.

As a rule of thumb, one must save at least 25% of their monthly take-home salary. But the problem is, how to implement this rule of thumb?

Lets see some clever tricks to save money:

Which are these tricks? These are tricks about which I have either read about it in books, or I have devised it myself.

Over a period of time, I have noticed that saving money does not come naturally to me. But I was bent to savings as it is necessary. Hence, I thought to give it a hard try and device my own “comfortable” methods to save money.

Saving Tricks which I unearthed myself was these:

  1. Give Yourself a Tip (min. 5%).
  2. Forget Your Annual Perks.
  3. Never stop paying an EMI’s.

But apart from the above listed three tricks, the most effective trick I borrowed from the book of Robert Kiyosaki. It is called “Pay Yourself First“. I have written an elaborate post on it. You can read it for more insights.

So lets start the discussion about trick to save money from my favourite one…

#1 Pay Salary to Yourself (min. 5%)

Tricks to save money - Pay yourself salary

Yes, if you can pay everyone who works for you then why not pay yourself? Do this first thing every month.

Pay yourself 5% of your monthly income. Before you spend a dime anywhere else, make sure to pay self. How you can do it?

Simply transfer 5% from your salary account to your another savings account. Which is this saving account?

This is that savings account about which you have taken the liberty of loosing its Debit Card. You also willingly, forget its online banking password too.

So this savings account is almost like a dark-well, which only swallows every penny you put-in. The only way to take the money out from this savings account is by cheque.

This trick is really effective. Try it and see the money grow each month.

Read more about how to save money in India from ones salary

#2 Give Yourself a Tip (min. 5%)

Tricks to save money - Pay Tip to yourself

Every time you shop, give yourself a tip of 5%. If you spend Rs 1,000, it means you become eligible for Rs 50 tip.

Initially, these tips may may look irrelevant, but such multiple five percent’s will add up handsomely at the end of every month.

The beauty of this trick is that, it generates savings automatically. This is awesome!

Suppose you go to buy a grocery and the bill was Rs.1,000. As soon as you reach back home, take Rs 50 (5% of Rs.1,000) and put it straight in your piggy bank.

Over a period of time the piggy bank will fill-up faster than you can imagine.

Moreover, this is one trick which will also make you very sensitive to your spending habits. You will remind yourself every time you spent that how much you have actually done.

This may sound simple and irrelevant, but in our daily routine of spending, we have actually become habitual spenders. We almost spend our money on things as if it is done subconsciously.

But the process of paying tip to oneself, you will actually become more aware of your spending habits. In course of time, this can save one lakhs of money. How? By curbing unnecessary spendings.

Read more about how to stop overspending money

#3 Forget Your Annual Perks

Tricks to save money - Annual Perks

Use your monthly income to take care of your cost of living.

And the perks (like bonus etc) that you get only at the end of the year, Keep them as your savings. If not 100%, save at least 75% of your annual perks.

Budget all your spending considering only monthly paycheck. Do not budget any expense for your annual perks.

Means, as soon as the annual perks are credited in your account, it gets transferred to your “dark-well” savings account.

This is harder said than done. Trick is to try and keep the details of annual perks a top secret even from your family.

Preferable, do not discuss its existence even with your spouse/children. Idea is to keep it a secret, so that there will be no social pressure to spend it.

#4 Never stop paying an EMI

Tricks to save money - Pay EMI to self

This is a sharp contradiction to what personal finance gurus will tell you to do. They ask you to pay-off your debt, to bring down the EMI load to zero.

The concept is perfect. But what I’m suggesting here is a small variation to this golden rule.

But effectiveness of this trick is the maximum.

This trick to save money is my personal favorite.

Suppose you were paying an EMI for your car.

Last month you finished paying all EMI’s. As soon as the EMI tenure gets over, do not divert this extra cash to care of your expenses.

Instead transfer it to your “dark-well” savings account.

When we keep paying EMI’s for a long time, our mind adjusts to this cash-outflow.

We can take advantage of this mindset.

Though the loan is over, keep diverting this EMI value every month to your dark-well savings account.

You are already in a habit of paying this EMI, so saving this amount will not be a big effort.

Final words…

Saving money need not always be tough.

If we can think out of the box, we can save a lot more.

Saving money is more like a mind game where one needs to fight and win over ones self-temptations.

Fight with ones own mind is not easy.

Hence it becomes necessary to use tricks to puzzle your mind and save more money.

I have shared some tricks here.

It will be great if you too can share your tricks in comments to help my readers.

Best of luck and have a happy saving


Hi. I’m Mani, I’m an Engineering graduate who in pursuit of financial independence, has converted into a full time blogger. After working in the corporate world for almost 16+ years, I bid it adieu....read more

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1 Comment

  1. dear mani 1.trick is simply superb,from next month i will follow this till my retirement,thank you for your fantastic trick (advice)love reading your blogs.keep sharing

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