Never miss a story

Get subscribed to our newsletter


×
A guide to spend your money wisely. Unsplash

The pandemic and its subsequent impact on the economy have emphasized the importance of spending wisely. Having a dependable contingency fund in case of emergencies has been never been viewed with as much significance ever before. While spending money is a continuous process, clubbing expenses and choosing smarter modes of payment can help save enormous funds in the long-run.

Thanks to the intervention of technology and innovative modes of payments available today, smart spending is only a matter of knowledge. Here are some tips from InterMiles on how one can spend smart, save smart, and make each rupee go that extra mile.


Follow NewsGram on Instagram to keep yourself updated.

START SAVING FROM DAY ONE

Heard the saying “Every drop makes the mighty ocean”? Very often, people wait until their earnings reach a certain amount to start saving. It can be very tempting to indulge and splurge lavishly with your first income. However, putting aside money month-on-month no matter how small the amount is ideal to help prepare for a rainy day. Disciplined saving habits do take time and effort to cultivate but once they become ingrained, the benefits are multiple and long-term.

PLAN AHEAD

Whether an aspirational outfit, a high-end car, or a luxurious holiday, major non-essential expenses must always be planned. Planning grants give one the opportunity to save adequately and choose a more value-beneficial deal. This will also eliminate the need to undertake a personal loan which can be excruciating to pay back on account of high-interest rates.


Make proper plan for future. Unsplash

ENROLL IN A GOOD LOYALTY AND REWARD PROGRAMME

While there are numerous loyalty and reward programs available to choose from, it is important to conduct in-depth research before understanding which one offers the maximum benefits aligned to one’s needs and lifestyle. A program that grants its members the opportunity to earn points regularly across simple day-to-day activities like paying rent, enjoying OTT subscriptions, ordering food or online shopping in addition to occasional spendings like flight tickets or hotel bookings is an ideal option. Engaging frequently with the program will help accelerate their point earnings and subsequent tier movement as well as avail of discounts and offers being run by the program or program partners thus, ensuring that everyone spends earns for them.

INVEST IN CO-BRAND CREDIT CARDS

Apart from convenience and time-saving benefits on account of being accepted across diverse purchases worldwide, co-brand credit cards offer customers several additional opportunities to earn rewards. Right from personalized offers such as welcome bonuses, discount coupons, and vouchers to milestone benefits like complimentary movies, flight travel, and hotel stay and rewards like insurance, lounge access, and golf access. Therefore, as time passes, the more the customer swipes, the closer they come to earning rewards and freebies as well.

IDENTIFY COST-EFFECTIVE WAYS TO MAKE UTILITY PAYMENTS


Spend wisely and try to save. Unsplash

Programs that offer points earning benefits when paying off routine utility bills for gas, mobile, or electricity, etc. not only prove to be a one-stop solution for members but, also rewards them for making basic, calendarized payments which they would have anyway conducted as part of their lifestyle. This provides the convenience of time and effort saving along with an additional earning opportunity for loyalty points which when accrued could help fund a future expense such as air tickets, hotel bookings, dining bills, and more.

INCREASE INVESTMENT AND SPEND SMARTLY

One of the proven methods of building wealth is investing smartly. Whenever undertaking a major expense always evaluate the value of that product in a few years. If after a few years, the value of the product diminishes, think twice before incurring that expense. Instead, identify and invest in assets that multiply in value over a period of time. For instance, instead of purchasing an extremely high-end new car, one can consider buying a second-hand car and investing the remaining amount in stocks or real estate that is expected to appraise in a few years.

ALSO READ: A Guide Of Unique Professions To Make Money Online

INVEST IN HEALTH INSURANCE

It has been rightly saying, “Health is wealth”. Health is undoubtedly one of the most important things that one can never oversee. Taking good medical insurance will ensure you are prepared for unforeseen situations that can take away major portions of your hard-earned savings within a few days.

Pro-tip: An ideal way to save on the cost of health insurance is to use the plan that is provided through your employer. (IANS/SP)


Popular

Unsplash

Canadian researchers have discovered an overlooked gene that plays a major role in the development of antibodies

Canadian researchers have discovered an overlooked gene that plays a major role in the development of antibodies, which help the immune system recognize and fight viruses including SARS-CoV-2, bacteria and other causes of infectious disease. The gene -- FAM72A -- facilitates production of high-quality antibodies by enabling the effect of an enzyme called AID (for Activation-Induced Deaminase), the researchers showed.

Immunologists have known for two decades that AID is essential to produce antibodies capable of clearing infections, but the full mechanism of its effect has remained unknown. "Our findings answer the long-standing question of how AID does its work," said Alberto Martin, a professor of immunology at the University of Toronto's Temerty Faculty of Medicine. "FAM72A helps AID to promote mutations in antibody genes that are essential for the development of effective antibodies," he added.

Virus Pathogen Antibody - Genetic mutations that lead to lasting changes in DNA occur through a process called mutagenesis. | Pixabay

Keep Reading Show less
IANS

Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India will set up a 50 megawatt (MW) solar power plant in Odisha's Sambalpur

Mahanadi Coalfields Limited (MCL), a subsidiary of Coal India will set up a 50 megawatt (MW) solar power plant in Odisha's Sambalpur at a total cost of Rs 301.92 crore, moving steadily towards its goal to achieve carbon neutrality by 2024. MCL has placed a turnkey order to set-up a 50 MW solar power plant with a Chennai-based firm M/s Hild Energy Ltd, which will establish this green energy project within a timeline of 10 months, the MCL said in a statement on Saturday.

This solar plant would cater to the captive power requirement of MCL. The Central PSU had successfully set-up a 2MW solar power plant in Sambalpur in 2014. The company said it has pledged a target of installing 182 MW of solar power by 2024 in order to become a net zero energy company, aligning itself to use cleaner forms of energy for coal production.

white and blue solar panel system The company said it has pledged a target of installing 182 MW of solar power by 2024. | Photo by Mariana Proença on Unsplash

Keep Reading Show less
IANS

As the nation celebrated the 114th birth anniversary of his father - renowned poet Harivansh Rai Bachchan - megastar Amitabh Bachchan remembered his dad as he penned a heartfelt note for him.

As the nation celebrated the 114th birth anniversary of his father - renowned poet Harivansh Rai Bachchan - megastar Amitabh Bachchan remembered his dad as he penned a heartfelt note for him. The actor took to his blog where he poured his heart out and also shared an unseen photo with his father. The image in question is from Big B's wedding in 1973, where the two are caught in a sweet moment as they look at each other.

Amitabh Bachchan wrote on his blog,

"My Father , my all .. November 27th his birth in the year 1907 .. Which makes it his 114th Anniversary .. He is in the heavens, with my Mother and they celebrate .. as do we , in thought word and deed .. (sic). But first."


Keep reading... Show less