28 March 2017

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Complete Guide to Protect Your Family from Financial Crisis

how to save yourself from financial troubles -  by www.familyfinance.in
Do you worry about next recession or financial crisis? Do you fear about losing your job job? Or worried about paying bills in time, managing daily money requirements or paying loans? If your answer is yes, this is your right workbook to create a master plan to protect yourself and family from all major financial crisis or similar troubles, forever. Read this, work around and practice the steps included in this article. At the end of reading this article, you will become a genius by knowing all the necessary steps to shield yourself and family from financial crisis, job lose and money management.

This article has divided into six major parts, describing each section in detail to provide through knowledge on each.

Part 1: Finding Money Sources
Part 2: Protecting Yourself from Being Jobless
Part 3: Thoughts on Additional Income Generation
Part 4: Protect Self and Family
Part 5: How to Become Debt Free
Part 6: Money Saving Tips for a family

It is a super long article packed with full of knowledge and information. If you feel you are not able to read this article at a time, better to bookmark the page to come later and continue reading. I would recommend you to take printouts of this material and keep it with you refer later. If you have not subscribed to the blog articles yet, you can do that by subscribing now.

Part 1: Finding Money Sources

Events such as critical economic recessions are phenomenon that generally leaves ordinary people running out of money. If not planned well in advance, it would be hard for ordinary people to identify immediate money or borrow money as loan from institutions like banks or third party firms during such troubles. Deep impact of economic recessions generally forces banks and money lending organizations to temporarily freeze lending activities to short or sometime long period. Such actions makes the life of common people more miserable. Whether you have experienced it or not, this is the truth.

To protect you from such crisis, one should plan in advance and should have surplus fund with him always. A hard line approach to create sufficient “Emergency Fund” is the best possible solution. Creation and holding an emergency fund not only provide you a safety but, release you from mental tensions. Here are the best possible steps to create an emergency fund for you:

What is an Emergency Fund?

When someone plans to go for creating an emergency fund, should know what emergency fund is and how to treat the fund for long time. Emergency fund is nothing but, a separate fund, building gradually, which generally equal to your 6 to 10 months salary, hold in a separate account to meet any uncertainties in life by recessions or similar situations.

How to Build an Emergency Fund?

Creation of emergency fund is a gradual process. It required disciplined approach and cannot complete within one or two days or a week or month. A person should plan how, from where and how much required building an emergency fund in a disciplined way. Here are some excellent working strategies that work for long term in a disciplined way:

To get maximum success, a person should have two accounts. One should be a saving account to deposit money to build your emergency fund and the second, is a piggy bank or similar facility inside your home itself. You will automatically come to know why you require a piggy bank or similar, at your home.

- Recurrence Method: In this method, you are opening a Recurring facility associated with a bank account where your salary to be get credited in each month. You then set a certain percentage from your monthly salary to be transferred automatically to this recurring deposit. It is a painless practice to build fund for long term. You have option to set duration for your recurring deposits. As a best practice, at the beginning of recurring deposit, set it for next six months and extend the duration once if like it. You have option to decide how much money in each month from your salary, required to get transferred to the Recurring Deposit automatically. You can as well increase the amount at any time or decrease if required. To get more information on how recurring deposits works, contact your nearest bank.

- Sweeping Method: Through a sweeping facility enabled account, any money in your account come as surplus than minimum required balance will get transferred to an investment account associated with it. Bank invests this money on your behalf, to your selected instruments. As banks have their own rules, an account holder must contact to know all information on this facility, prior to start with. You also get all knowledge on how it work, fees associated, is there any possible penalty and how would you get the money back if required. Contact your bank executive to know more about this fantastic facility and advantages and disadvantages.

- Managing Surplus: If above method not works, you can manage your surplus money by transferring it to a special, separate account reserved for your emergency fund. If you have both, salary and savings account, in the same bank, you can automatically do this transfer through a standing instruction to the bank. This will ensure your surplus money will go to the emergency fund in a painless and disciplined way.

- Gifts and Bonuses: Any time, any gift that you receive or a bonus from anywhere, consider it as an addition to your emergency fund and add to your emergency account.

- Monthly Budget Method: You may have a list of bills to pay at the end of each month such as electricity, water, internet, utility etc. Consider your emergency fund contribution as the one among this.

- Piggy Bank Method: Comparing to above, savings through piggy bank may small but if you have right mindset, a piggy bank can also contribute a good amount of money to your emergency fund. To start this practice, have a piggy bank and deposit your balances from shopping, eating out etc.

- Percentage Method: Reserve a small percentage of money to your emergency fund from your extra activities such as movie, smoking cigarettes etc, to your savings account.

Creating an emergency fund should not mix with saving money from various activities. Money saving tips generally explain the methods of saving money from your daily, weekly or monthly activities, through available facilities or special considerations to something but, creation of an emergency fund is an idea to raise a fund by preserving a percentage of money from your savings or from income. Yes, you can even use your saved money as a contribution to this emergency fund.

Part 2: Protecting Yourself from Being Jobless

Do fear dominating you being jobless or worrying about the future? Be happy, here is the solution.

We are now discussing a working plan to protect you from being jobless. To create this article, I have done enough study by referring a lot and taking experiences from my personal life, to share better information to shield yourself from any happening lob loses at the time of recession or not.

Preparing to shield your job required lots of effort. Before coming to it, I like to say you the secret formula to survive in case of losing your job. Create an emergency fund. This will help you to survive next few months even if you don’t have a job!  Emergency fund not only help you to save from such situations but, any thoughts on having sufficient fund fill you with peace and happiness to your mind.

Below are some core points to remember and practice to protect from being jobless or find another job within limited time.

- Identify Your Core Skills.

- Sharpen your core skills by reference, taking online or offline trainings and get necessary certifications to support your candidature maximum.

- Identify your present responsibilities and compare with present requirements in the job market. This will help you to understand any required additional skills to support your core skills.

- Build Secondary Skills – Did you know what passive server cluster is? Through configuring active-passive clusters, active node in the cluster always does the job. If this fails, passive node starts taking responsibilities immediately. Through building secondary skill, you are protecting yourself from any possibilities of market slowdown that cause any job with your main skills. Through having a fantastic secondary skill, you are enhancing your job opportunities with increased chances to get another job immediately when a job with your core skills not available in the market for the time. This will help you to immediately engage with a job suitable to your secondary skills until find a job suitable to your core skills.

- Update always: Have necessary updates to your resumes time to time. Never miss any main supportive points and also, never mention anything you are not familiar with. Once if do such, you may lose your chance at the time of interview by not able to provide any right answer whenever a possible question arise. Maintain a portfolio with all necessary documents and update it regularly and be ready always.

- If you are looking for a better job, identify your next target job and shortlist any companies you are interested to work in. Visit their website regularly to get updated information on any possible vacancies suitable to your profile.

- Increase your social contacts – Through doing such, you are increasing the possibilities to know any possible vacancy within the company where your contacts working for. Building enough social contacts is a great tool to get most updated information and referrals for a right job.

- Post resumes to great job portals – Whenever posting a resume to job portals, ensure you have 100% completeness. Visit the sites daily and workaround for little update every day. Regular visits and updates help to sustain your resume at the top of their database. This is happening due to the ‘current’ nature of its database. Remember, this is a less known secret.

- Interview preparations – Interview preparation has two phases. One is technical and another is HR round. To prepare for technical session, prepare with self created interview question databases and study upon the questions. Use mind mapping technique to identify each and every possible question associated with any main question and study all. Search on the net for well known HR questions and its right answer.

- More over the above, always work hard to be an ideal employee always. Be a better team player and pet of your seniors by skills and right behavior. This would certainly bring down your chances of losing jobs to a great extend. Remember, no one interested to lose an excellent employee at any time. Always keep 4 NEVER’s, Never miss scheduled meetings, Never work less time, Never take unnecessary leave, Never complaint, for getting great success.

You are now in a position to find a job with multiple skills. You have all the resources in your hand. Now it is the time to start giving interviews, tackling the interviewers and get a right job.

Part 3: Thoughts on Additional Income Generation

How do you feel when someone offering regular pay check for an item or service you are able to provide them without much effort? That would be a great deal! Or, what do you think when someone offers you regular money for any of your item that you really don’t required? Fantastic! Generating secondary income works similar.

In this part, we are exploring the possibilities of generating additional income within your limit and with little effort. Any additional income certainly narrows your burdens. Little planning over the possibilities of creating additional income is a best practice to head off any crisis. Here are some practical tips to create additional income from the services you or your family can offer to others.

Creating additional income totally depends on person to person. It can be from a service or by providing a facility or supplying something regularly or from a hobby etc. For your reference, I am giving 10 methods to know how a person can generate additional income with a mix of skills, passion, available facilities and hobbies:

1. Freelance Methods– If you are a professional, you have enough opportunity to create additional income by providing freelance job to local customers at your free time or holidays. For an example, if you are working as an artist on an advertisement company with large customers, you can work as a freelancer in your free time to provide services to small firms or individuals to generate additional income.

2. Professional Methods – If you have a core skill, you can start train people at your free times to generate decent additional income. For example, teachers can provide personal home tuition or technical professionals can work as a part time visiting tutor to any training centers etc.. You can even explore the option to get a part time job that doesn’t require much skill.

3. Utilizing Unused Facilities – Rent or lease out any additional home or part of your home or even a room, yard, garages, land spaces  to generate additional income.

4. Income from Hobbies - If you have a hobby, you can even generate additional income from it. For example, if you have a hobby of gardening, sell flowers, vegetables or fruits to shops and other retail customers to create secondary income. When hobby based income generation coming to picture, even your family members can also be able to contribute by exploring possibilities based on their hobbies. “Hobbies can be used to create decent additional income if you utilize them properly”. The way what I am doing, blogging, is my hobby and it generating some decent additional income for me!

5. Offering Temporary Services – Rent your items to others. For example, offer your automobiles, tractors or tools to others for hourly rent. This would generate little income from an item which may sit idly.

6. Income from Sales - Any item that you or family no more required but, others are searching for, can be sold to generate income. Books, periodicals, old items like furniture, cupboards all will do better for you.

7. Money from Pets – If you have pet like dogs or any other animals, birds, fishes or others, you have huge opportunities to create additional income from them. For an example, if you have different breeds of dog, sell the puppies to generate extra ordinary income. Think in that way.

8. Through Family Members – Creating second income not means only by you. Your family members can even contribute to generate second income from their hobbies or utilizing any skills. For example, let your wife to start giving home based tuition to others, babysitting, flower arrangements, sewing etc. all help to generate additional income.

9. Small Home Business – Starting a home business is a good idea to create more money utilizing your free time. Some of the best examples for a home business are: growing hen and selling its eggs and meats, maintaining a vegetable garden, flower garden, growing fish, rabbits, pork etc, if you have facilities, creating fertilizers from waste to sell, running a nursery of plants, a laundry etc. can bring decent income.

10. Part Time Consultancy - Running a part time consultancy to provide any services to the people or business in your area would be an idea to create secondary income. Some good examples are, providing advice and facilities for rain water harvesting, waste management, setting a garden, water management, budding and grafting of fruits and flowers and many, many of such. Depends on your skills and time you can generate huge side income. You can also offer personal services to others like home cleaning, lawn care, part time driver etc.

As I have mentioned earlier, creating additional income depends on person to person. To start such endeavors, one should first identify his skills or interests to utilize for generating income. Any person with any skill or hobby has enough opportunities to generate additional income. Identify your right option and give a kick start.

It is certain, identifying possibilities for generating secondary income would be a great help at the time of recession or similar situations. As a best practice, identify an area where recession never affects. Best examples are teachers and nurses. If come to business, hair dressing or pharmacies. Both are exempt from recession to a great extend. If you have any member in your family working in such areas, you are so lucky.

Part 4: Protect Self and Family

We are now coming to the very serious part in this e-book, Protection.  At the end of this part, you will be familiar with identification and selection of right insurance products and be able to protect self and family to a great extend.

Before entering to the core, ask these questions self:

1. Am I the lone bread winner in my family and what will they do in my absence?
2. How does my family pay-off huge loan if I am not available?
3. How protect family from unexpected money requirements?
4. How do I protect my assets?

No one wants to see their family begging to survive. No one likes to see their kids crying for food. Who likes to see their family on the road by losing own home? We can’t even imagine such. So prepare to take fail proof safety measurements through most required insurance covers.

Assessment of insurance planning requirements should start from self. It then expand to family and finally, assets.

Before a start, one should understand his present status by answering to the following questions.

- Is any member than you in your family have sufficient income?
- Do you have sufficient savings for your family and kids in case of something bad happening to your life?
- Do your family able to survive in your absence?

If your answer is ‘No’ to any of the above questions, seriously work for right insurance to protect everything that important to you.

Term Insurance Plan or Pure Risk Cover for you to secure your family future:

To protect your family, insure self using ‘Pure Risk Cover’ or ‘Term Insurance Plan’. This policy ensures their safety at your absence. Term insurance generally comes with features of huge insurance cover for fewer premiums. Any person with huge family liabilities must consider protecting self with a Term Insurance Plan, with adequate sum assured. This would be sufficient to the survival of his/her family. Through insuring yourself wish such plan, you are ensuring your family will receive insured amount immediately after your death by any reasons.

A person who plans for a Term Insurance cover need to identify how much insurance cover he or she required, term years and how to pay the premiums. One can follow the best practices of having a term insurance cover equal to 6 to 10 times of his annual salary. By using common sense, it is best to have maximum term available and pay the premium half yearly or yearly.

How to Secure Self and Family from the Burden of Repaying Home Loans?

Next, but optional for those who have home loans, think about methods of protecting your family in case you have a home loan pending. Whether you are alive or dead, mortgage firm requires their money back. If you are not available to pay back, your family members liable to pay the loan back. Or they should face possible bankruptcy.

Prepare well to avoid such panic situations. Your best friend to tackle similar situation is “term policy against home loan”. Apply for one. Premium for such plan generally very few but offers very good features. Through subscribing a term policy against your home loan, you can easily protect your family from repayment burden in case your death.

Meet any Unexpected Hospital Expenses at the Time of Recession

Hospitalization can happen at any time. It is so dangerous in the sense of immediate money requirements. Taking enough precaution can avoid frequent medical requirements but no one can prevent it forever. We can’t predict when this will happen and what will be the severity or impact. We should always take necessary measurements to shield our self from any sudden money requirements. Give ultimate importance to it.

A best option to deal with such situation can be done through subscribing perfect ‘Medical Insurance Plan”. Which famously known as Health insurance or Health cover policy. Employers generally providing this policy to their employees but, it have several limitations. Generally such policy will be discontinued immediate when an employee leaves the company. Having our own health policy to cover self and entire family ensures sufficient insurance cover all the time.

When buying health insurance, one should consider covering entire family with adequate sum under one policy. Well known as ‘Family Floater Health Insurance Plan’, this policy covers the subscriber and his/her family to ensure all time protection from unexpected hospitalization expenses. To shield from economic recessions, get your family protected such a way with adequate medical insurance.

Protecting Your Assets and Valuables

We are now to the final part of this discussion. We have already covered important topics like protecting a family from money requirements, mortgage burden and from hospitalization expenses. This part covers the requirement of protecting our valuables and assets. Our automobiles, home, valuables all required to be protected from incidents, calamities, burglaries etc…

To know the assets what we need to protect using a ‘General Insurance Policy’, a person required to identify the items first. Always insure your vehicles with Third Party Insurance features and secure your home, electronics items, ornaments, furniture, collectibles etc. but this list is not limited.

Some of you might have vehicles and other may not have one. Some of you have house with lots of items inside but others may have rented house with few required items. Prepare a list of items required to be protected by right policies. Here are some must consider item lists for your information:

- Home
- Furniture
- Electronics equipments
- Collectibles like art items
- Machineries if any
- Jewelries
- Vehicles

How to Select a Better Insurance Policy

Whether it is a term insurance plan, health plan, loan protect, general insurance or auto insurance, you should work best as your own to find right insurers. You can do such by contacting available insurers and comparing features of their insurance products. You can even get the help of right insurance advisers, online insurance advisers etc. Before selecting any policy for any purpose, confirm you have understood all its features and it is the best in the market among its kind.

Part 5: How to Become Debt Free

Do you have huge debts? If yes, this provides you an excellent working plan and best practices to follow to become debt free.

If you stuck with debts, nothing related to financial planning work better for you. Whether to create an emergency fund or investments for future, debt push you back and give very little chance to get right success.

Most of us may have debt and most of the time it is little and manageable.  But, if it is unmanageable and huge, is a clear symbol of financial weakness.

What should be the first and important move to become debt free?

Here is an excellent working plan a person can follow to be debt free gradually:

- A person who suffering from huge debt should start his work from the beginning. Start by listing all the debts in a paper. Prefer to list down debts based on its interest rates and sort it from higher interest rate to lower. At the end, you will be able to identify which one has more interest rate and eating more of your money.

- Next step is, preparing a well disciplined plan to kill the debts as soon as possible. Start the action through tightening your monthly budget. Avoid unnecessary spending and include only your monthly bills, necessities like food, clothing, transport etc. and minimum money required to pay your debts. Be self disciplined to live within the budget. Stop all the activities like eating out, leisure, monthly shopping, traveling, holidays etc., but focus to being debt free.

- Prior to start the debt free process, identify an immediate money source to head off a crisis or have a small emergency fund in a separate account as untouchable. This will work as your emergency fund to meet any crisis happening at the middle of your ‘being debt free’ process. This reserve money ensures you to not touch on the money kept for paying off debts.

- Start eliminating your debts one by one by paying minimum amount to all those debts in your list has lower interest rates than the one which tops in your list with higher rates. Pump maximum money to the once with top rates and continue this process till the end of that debt. Select the next one in the list with top interest rate in the group. Go ahead one by one until completely kill all your debts.

- Consider additional source of money to pay off the debt. Having a second income through any family member would be a great help to focus more to kill your debts. Explore and identify all possible sources and work to generate maximum possible additional income to support your action.

- Record each and every activity and analyze progress of your action.

Once become debt free, stick with your budget to not fall to the debt trap again. At this time, rework on your family budget to get some relaxation. Cut down all unnecessary expenses, identify and generate secondary income stream, prepare your plan to shield yourself and family from panic situations like economic recessions.

Dedication and discipline are the two most required qualities a person should show and sustain with financial planning. Being debt free is not simple if you don’t have well decided mindset and clear working plan along with dedication and discipline.

Once after being debt free, never commit the same mistake again.  Be disciplined on self and family expenses, credit card usages, borrowing etc. Preserve each penny for a bright feature of self and family.

Part 6: Money Saving Tips for a family

This is the final part of this workbook. In this session, we are discussing some best tips and practices to save money from your daily activities. While preparing these tips, I have taken special care to not affect to the life standard of you and family when implementing.  You can find more money saving tips in this blog for different situations and from different activities. I am frequently updating ‘How-to save money” articles with this blog. This section combines a set of money saving tips for different situations and picked by researching well to suite to each situations.

One can possibly save money from any activities. One major point to remember is, money saving is not an activity to save chunk of money within an hour or days. But, it’s a process by adding some perfect controls and rules to our life to give more clarity to your daily, weekly and monthly activities.

Saving money through reducing or controlling personal or family activities doesn’t mean to drop any regular plan or life standard you or your family have. Until and unless, you are not working hard to become debt free, you can move further by maintaining present life standard intact. Saving money only means to identify any loop holes you or family have when dealing with money and control the lose maximum.

While practicing any of these money tips, make sure to avoid any money saving rule or process being in place that may make your kids, wife or husband, parents or any member in family, being unhappy by directly or indirectly affecting to any facilities or activities they are enjoying.

Below are a set of well studied, working methods to save money from day to day activities:

Importance of Budgeting:

If you have a right monthly budget in place, you can easily control the inflows and outflows of money. Budgeting not only help you to identify unnecessary expenses but, help you give clear picture to your future requirements and saving.

Save money from Facilities

1. You can still be luxurious but, add control on anything that you really not required. For Example, you can disconnect any additional landlines or hand phone connections to reduce bill and save money. Have a policy of one land line for family members and one hand phone for you.

2. Identify any unused facilities like additional internet connections, additional newspapers, books and DVD subscriptions etc. You can have one internet connection and one news paper. Cancel unnecessary connections and subscriptions. For books, DVDs and any newspapers than the one you are subscribing, explore the reading and lending possibilities with local libraries.

3. If possible, try to get bundle facilities like cable and internet together. This will greatly help you to save money by avoiding multiple vendors.

4. Cancel any memberships with gym or club if you are not a regular visitor or kept as a symbol of status but, not using at all.

Possible savings from monthly service bills:

The most enhancing feature or a family budgeting is, the person never run out of money for necessities. By keeping money aside for each monthly expense, one is being able to avoid possible penalties. Find some saving possibilities below:

1. An important rule: Never apply for any service without collecting information on all available similar services in the market and comparing to identify a best possible one.

2. Never delay to pay your loan, credit card bills as early as possible immediately upon getting the bill in your hand.

3. Pay your utility bills like water, power and gas etc. in the same day or next day to avoid possible fine and penalties.

4. Identify any bills that bring fine if paying after the free days. Never delay to pay such bills immediately after receiving the same to your hand (I have re-written this point from point 2 and 3 because, various countries have various laws and services.)

5. We have a clean, well maintained tongue. Why don’t we use it to ask for any possible discounts or deduction on bills related to credit cards, cable, internet, phone connection etc.? A simple word some time gives us huge money saving possibilities.

6. Never give any money to banks as fees or any special benefit you are getting from them but really not required. Whenever dealing with bank, have a clear idea on the services and facilities and any possible fees related.

Save money from utilities

1. Important point to remember: All the members in a family should have awareness on this activities or your effort will not succeed as expected.

2. Never keep any electronic items as working or sleepy mode if you are not using the same. Power it off.

3. Use and get benefit from power savers like CFL and LED lamps.

4. Install and take maximum advantages from solar panels.

5. Maintain green home. Have enough air circulations inside through right ventilation for summer and have enough heat inside when closing ventilation for winter.

6. Never use power eaters like electric heaters, water heaters etc. Point 4 can help you on this.

7. Iron boxes are one of the major culprits to bring your utility bills to the next heights. Have practice of using iron boxes in a week than daily.

8. Maintain cooling of refrigerators and always keep filled to take maximum advantages from the power it is utilizing to running. Defrost time to time to maintain operational abilities. With electronic equipments, a manual will be there in the pack describing how to maintain operational abilities. Read the manual carefully.

9. Have a practice of switching off the main or place a master switch to switch off all the electronic items when you and family going out. A master switch controlling connections to the major electronic equipments other than refrigerators will be a good idea. If such in place, you can control all the points, other than what you really want to work, whenever you or family is not available.

10. Maximize the usage of water. Have waste water management by converting waste water to some other good purposes like watering garden etc. You can even convert waste water to the toilet use if required. If you have a green home, you might have facilities to collect rain water to pure water for your daily use. Set controls to the water tanks and connections to ensure water not losing unnecessarily.

11. If you have installed over tank and pumping water for home requirements, install tank with maximum possible size to avoid frequent pumping and thus save money. Inter connected group of multiple small tanks will also work better for you to pump water once to use for long.

12. As a bonus, give your share for a better tomorrow by switching off electrical and electronics items between 7 pm to 10pm at least for 10 minutes. Or select this time to go out with your family by switching of all lights and electronics. Refer point #9 for further. Maintain “a person an item” within peak hours. Whether a bulb, electronic equipment or other.

13. Maintain your vehicles in well condition by practicing daily checkouts before you start from home. This will help you to save gas or fuel to maximum because of maintaining right condition of your vehicle. As a best practice, use your vehicles yourself and never share with anyone. Refer your vehicle manual to know about required daily checkouts.

14. Having a practice of washing dishes by hand, at least 3 times in a week. You can thus save considerable money on electric bills.

15. Try and practice manual washing at least in the weekends. Give rest to your washing machine and electricity meter too.

Saving money from home activities

1. Rule No 1: Never rent a service for anything that you can do yourself i.e. home cleaning.

2. If you have a collection of handy tools for activities like any repairs inside the home, minor plumbing, electrical work, pipe work, maintenance related to garage, garden etc., you can avoid calling service personal and pay them.

3. Practice using quality items than cheap one. Using quality items never cost you money for any required time to time maintenance.

4. Never purchase any items that are not for regular use. Instead, check the availability of such items with your neighbors or friends. For example, mice trap.

5. Why do you want to go for wash your cars? If you don’t like to wash, park it outside. Snow or rain will wash better than service centers can.

6. Have a right waste management in place. Produce compost and use it in your garden. Save money from clearing waste and buying compost.

Save money from shopping activities

1. Rule to remember: Have a clear plan before starts for shopping.

2. Bonus rule: Shop only for the items that is not available or able to prepare in your home.

3. Never buy electronics items in the same day of launching. Wait for some time. New editions means price down of previous editions.

4. Utilize discount coupons or purchase points intelligently.

5. If you maintain a vegetable garden as hobby, no need to go for purchasing vegetables.

6. Weekdays are best for shop owners to give discounts. So, plan for sometime in the weekdays.

7. Identify the best shop providing maximum discounts. Have knowledge on all shops and its price differences. Free time visits are best to understand such.

8. It is best to prepare food inside home than buying from outside. You can thus avoid additional eating out too.

9. Remember, buying large always economical.

10. Any item that is not for regular use and not having resale value, select a good one from secondary shop than buying as new.

That’s it. You can see enormous number of money tips if search a little in the net. But, it is difficult to identify working tips from most of the list. My promise, all the above mentioned tips are well working tips and can practice by any person at any time. Keep visiting. I am in my lab, preparing an e-book to gives you best 101 working money tips.

Reality check with money tips:

1. No one in the world ever practiced all the available money tips.

2. There are thousands of money tips available everywhere but working money tips are very few.

3. Money tips implementation should happen gradually. No money saving tips works at the same moment of implementation.

4. Real savings of money means not reducing your life standards but giving more clarity to life by identifying right requirements and avoiding the one not required.

5. Unexpected money requirements are everywhere. Consider having Emergency fund or other money source.

Wish you all the success and my sincere thanks for downloading this e-book and reading it. I know my writing standard is not that much perfect but I hope I have given the ideas as the best.