Money is an important part of life. Everything seems to hinge on money these days. The more we splurge, the less money we end up saving for our future requirements and priorities. All you need to do is plan in advance, and with few saving strategies you can save every penny that you squander away and repent later without overshooting your domestic budget. This article will help you save money with simple ways to save money.

Here are few things which you can do to save your expenditure:

1. Use of Savings account
Make sure that you keep minimum funds in your checking account, rather put your extra funds into your savings bank account, it will get you more interest.

2. Look for deals
Be active and look for a better deal, request better packages from the service providers. Whether its your phone plan or your wifi connection. There are many money saving deals available.

3. Programmable thermostat
You can easily save 10-20% on your cooling and heating bills. Trust me you will save quite a substantial amount with this.

4. CFLs to be installed
You can save energy by installing compact fluorescent lights. Not only they need to be replaced less often but also only a quarter of electricity of normal bulbs is used.

5. Plan your vacation well
If you organize your trip properly, you can save quite a lot of bucks. Checking out a cheaper accommodation or booking your tickets well in advance can help you save.

6. Use of coupons
Coupons can be used for groceries, books and other online purchases. They are available on the back of receipts. You can also check out Ebates, an online resource.

7. Insurance
You should buy insurance whether its auto insurance, health insurance, home owner’s insurance or any other type of insurance. You might have to pay premiums, but  later if you have to file a claim it would be extremely small.

8. Household chores
Try to run all the chores. You can clean your house, wash the dishes or wash your cars on your own. You will be more satisfied and at the same time you will end up saving few bucks.

9. Land line days are gone
Everybody uses cell phones these days. You get better plans and call rates. It will definitely make a difference. Land-line is just another hassle.

10. Library
Borrow movies or books from the library. You don’t need to spend on DVDs or CDs and even on books. Everything is available online for free including eBooks.

11. Used furniture
There are many furniture expos for buying used furniture or you can check newspaper ads or sales. Even new furniture dealers can be contacted. It can be purchased for nearly fraction of its cost new.

12. Carpooling
Always drive with fuel efficiency in mind. If you know friends who travel through the same route as yours carpool with them, rather spending so much on fuel.

13. Save on shipping
Try to pick up your supplies on your own so that you wont have to pay any delivery charges. Or if you running out of time tell your family member or friend to do the work.

14. Wholesale and bulk shopping
When you visit a store ask the vendor about the bulk rate or join various clubs so that you might not have to pay retail price. However don’t compromise on the quality, but never make an impulsive purchase.

15. Online payment
You can pay your bills online, lot of time and postage fees can be saved. Sometimes discounts are also offered to the customers who pay online.

16. Food expenditure
You can cook at home. You will be saving a lot of money spending on the meals outside which are not even hygienic. Try to cook for multiple days if you don’t have time. Perk your own coffee. Limit your alcohol intake or any other form of mind altering substances. Trust me you can save a lot and you will definitely realize it later because it will not overshoot your budget.

17. Use of points
Points, cash reward cards or a cash back based credit card can be used that gives you the best return for spending. Many such schemes are available.

18. Reuse
You can use your plastic bags as trash bags. Even the gift papers can be used and other paper products. Old clothes can be used as curtains and for kitchen use just by being little creative and using old buttons and accessories.

19. Public transportation
Use buses or local trains instead of spending on cabs. Rather walk or go cycling. Leave your car at home, atlas you wont have to spend on parking tickets.

20. Plan your outings well
Make sure when you go out you organize your trip well. Always carry a water bottle with you, book the tickets or make a reservation in advance and ask for discounts. Go for the morning shows for the movies or during the weekdays.

21. Cancel all the subscriptions
You can get the daily news online. Get rid of the newsletters and monthly magazines.

22. Health is wealth
Take care of your health. You are what you eat. Make sure you exercise regularly so that you don’t have to visit doctors and shell out on enormous fees.

23. Save electricity
Use ceiling fans or the portable ones instead of air conditioners, keep the windows open and make use of shades and blinds. Or if its extremely hot you can turn in the ACs for an hour or so. Also change air filters monthly and make sure air conditioning thermostat is not near the TV or any other heating appliance which will cause it to run longer.

24. Gas efficiency
You can cut down your fuel cost by taking few measures. Make sure the tires are inflated to proper pressure, it will definitely improve the mileage by about 3 percent.  Also driving with AC on can increase the fuel consumption by about 11 percent. You can also apply solar film.

25. Cut down Salon expenses
You can do your own manicure and pedicure at home and spa. And even shave your legs or do your facial massage everyday. Many videos are available on you tube. Salon expenses indeed cost you a bomb. Call your girls at home to kill the boredom.

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Some more uncommon ways to save more money this year:

Money is the one of the most important things to survive in life. Money is mandatory for every individual to survive in the long run. It is said that one can live with the help of love and affection; but it is equally important to have the money. Those things which have to be bought with money has to be bought with money. It cannot be replaced with anything else. It is always advisable to save some money for the old age when a person is in their crucial stage.

In the time of economic recession some of the Best way to save money is to first understand and track the inflows and the outflows of the money received. There are always chances that the outflows are higher than the inflows. One has to be very careful and keep some money ready for any future emergencies.

Some more tips to save money are as below:
Remain healthy and save money26) Remain healthy – One should always take healthy food and remain healthy. It would be little expensive to spend on the healthy food; but the long term effects which the healthy foods gives is very good. A healthy mind can think better and healthy body can work better. The money can be saved by giving less to the doctors and hospitals.

27) Investing in natural source of energy – The house owners should always prefer to invest in the natural source of energy. For e.g. it is advisable to go for solar system in the homes as it will save a large amount of electricity cost. The initial expenses are high but in the long run the person can reap the fruits by saving money.

28) Doing work on your own – One of the best tips to save money is to do all the household chores on your own rather than depending on the servants. For e.g. the washing of laundry, cleaning utensils and even cooking can save a lot of money in the long run.

Budget your expenses and save money29) Budget your expenses – It is essential for every individual to have a budget for oneself. The person should list out the expense and accordingly account for it.

30) Control spending temptation – The best way to save the money is to refrain yourself from major spending temptations. It is better to keep away from friends or family members who often invite you to go for shopping.

31) Keep away from debts – It is advisable for the person not to use credit cards or to take loans. It should not be taken preferably unless and until there are emergencies.

To save money is hard but once a person starts the habit of saving it is very easy to continue with this habit. One should always pay off the debts first and then start saving so that there is sufficient amount of money left for the person when he or she retires after a long stint of work. Try to buy the required grains and other items on a wholesale basis which can save a huge amount of money.

So these are some of ways to save money that can save your penny. Implement these guidelines in your day to day activities which will not overshoot your budget and definitely help you save money for your future.

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Education Loan India

Educational expenses are increasing by leaps and bounds and many people cant afford good education these days. If cash is your hurdle when it comes to education then education loans have come to your rescue. These education loans cover all the tuition expenses and other expenses incurred during academics. All you need to do is complete few formalities and give your documents.

Education loan is a great financial assistance that can shape the future of your child. Usually banks or financial institutions provide loans for courses like medical degrees, engineering or management studies.

Eligibility:
- The applicant should be an Indian national
- The applicant needs to show a secured offer letter especially if studying overseas
- Those applicants applying for colleges or Indian universities should have an admission through proper selection process.

There are several private banks, foreign bank, nationalized banks and private lending institutions that offer student loans. Some of the most popular banks are:

- Axis Bank Study Loan
- Bank of India Loan
- Bank of Baroda Loan
- Bank of Maharashtra Loan
- HDFC Education Loan
- ICICI Bank Education Loan
- IDBI Bank Education Loan
- Indian Overseas Bank Loan
- Oriental Bank of Commerce
- State Bank of India Loan

There are various terms and schemes offered by banks. At present they can offer up to Rs 20 lakh for studying overseas.

Following expenses are usually covered.
- Travel expenses
- Cost of two wheelers
- Examination and hostel charges or accommodation
- Cost of books, uniform and other equipment required

Education Loan Repayment
- The repayment needs to be done usually one year after the course is completed or after six months of the course when a graduate gets a job. It is in the form of equated monthly installments.

Security
- For the loans of up to Rs 4 lakhs no security is required.
- If the loans are in the range of Rs 4 lakhs to Rs. 7.50 lakhs then there is an involvement of third party guarantee.
- If the loans are above Rs Rs. 7.50 lakhs then collateral security or guardian/parents/third party guarantee is required .

The security can in various forms like land/building, public sector bonds, units of NSC, KVP, UTI, gold, shares or LIC policy. It can be bank deposit in the name of parent/guardian or student.

Tax Benefit
- One can also avail tax benefit. The repayment of loan is deductible under Section 80C according to the Income Tax Act. This is usually for the loans taken for higher education like post graduate courses or masters. It is deductible for usually eight years starting from the day of repayment.

Following is some of the factors one should compare before applying for any education loan.
- Interest rates
- How the interest rate is charged?
- The waiver period
- Fees and other costs like administrative fees, processing fees or documentation costs.
- Collateral, guarantee required.
- The down payment which has to be made with every loan. It ranges from 5 percent to 20 percent of the amount.

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Save Money on Your Household Bills

With fluctuating economy there is a dire need to stop the budget from overshooting. With few measures and steps one can save money on household bills. You will reap huge savings if you are cautious and make smart moves in long run. One should make saving their habit in day to day life and you will save big bucks gradually.

Here are some of the ways to save money on your Household Bills.

1. Cut down on mortgage
One of the best ways to save big bucks on household bills is to save on monthly mortgage payment. You might have got the best interest rate but you can also think of refinancing at even a lower rate if your have worked on improvement of your credit score.

2. Coupons, discounts and offers
Keep yourself informed about what is happening around. Avail various discounts and offers. Clip the coupons from the newspapers and find them online. One can save around hundreds of dollars every month on grocery bills.

3. Bundle the services
Club all the cable, telephone and internet services by subscribing with the same provider. One can easily save $20 or more than that every month.

4. Buy in bulk
You will save lot of money if buying in bulk. Non perishable items like toilet paper, tooth paste, soap and other supplies can be bought in bulk. Grab the good deals and stock up on such items.

5. Save on maintenance and repairs
It is very important to take care of your house from the start so that you wont end up spending a lot on maintenance and repairs. Make sure your house is in good shape and any of the damage is fixed immediately. Address various problems as soon as possible so that the inexpensive repairs wont become big and then cost you a bomb.

6. Saving money on electricity and home heating bills
- Programmable thermostat
You can save money on the energy bills by installing a programmable thermostat. It can be programmed according to your needs when you are asleep or away from home. It is said that thermostat should be turned down to 10 degrees if going to work and when going to bed. This will save around 14 percent on the utility bill.

- Compact Fluorescent Lighting
Compact Fluorescent Lighting should be used that use half of the energy compared to incandescent light bulbs. They also last longer in addition to saving energy.

- Furnace should be cleaned and checked at frequent intervals. This is an effective way to cut down on heating costs.

- Change the air filter on the furnace regularly and a dirty air filter will only decrease the life expectancy of the furnace blocking the air flow.

- Don’t run appliances like dishwashers and washing machines frequently only when you are running full loads of dishes or laundry.

- The shades and blinds should be open and natural daylight should be allowed. There is no need to run light bulbs throughout the day.

- Temperature of the water in water heater should be around 115-120 degrees tats will reduce the use of power.

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