You have been working very hard to earn and save money after retirement but you that if you follow some simple tips then you can become billionaire at the time of your retirement. So if you want to spend you’re after retirement life with peace then you have to work out on few things which will help you to save lots of money.
It is the most important thing to do and make it a habit to do monthly savings and it does not matter whether the amount is small but you should start saving as soon as possible.
Open separate account
Open a separate and dedicated account in which you can transfer your money dedicated for savings. You can select the best bank which will give you maximum rate of interest in your savings.
Save some money for emergency
Keep some amount separately for emergencies in your life but remember that these emergencies should not have any impact on your main savings account.
Pay Credit amount before due date
Always pay your credit card bill before the due date and if possible pay the full amount as it is not wise to pay Emi or any other interest levied by the bank.
Start investing Mutual Funds or for a safer side in SIP which most of banks are providing for a long term with small amounts. Also do not invest in money schemes quickly first do all your studies and check the authenticity of the scheme.
Increase saving amount
If you’re monthly increases then also increase the savings in your account.
Make new sources of Income
If you have job than try to make other source of income so that more inflow of money increases your savings.