Hello Readers!

People, when they receive their salary, the first they do is make a list of monthly payments and the rest they consider the saving of the month, which can be used any time in the rest of the month for any use. And just because of the easy accessibility of the savings, one ends up spending their savings, without even realizing that in their impulse they are looking for present happiness and not future needs or say situations.

Saving money is a kind of habit that is followed by most of the people, but sometimes people don’t realize that they have become the biggest enemy of their savings. Humans are a social animal, and they love to be in trends, for this they try their best to keep themselves updated with standard lifestyle.

Impulsive shopping, going for movies, hanging out with friends, dining in expensive restaurants, and many more are extra expenses that one does nowadays and has kind of become a habit. To fill these extra expenses, people spend their savings and ultimately are left with 0 balance in their bank account at the end of the month, this means, they saved nothing.

Saving money is important, but protecting your savings is more important than that. Thus, to make you protect your savings from yourself here we are here with some tips and tricks, read them and follow them.  

Have a Separate Bank Account for Savings

Money, that is easily accessible is often spent, thus for people, when they plan to save money, the very first thing they should do is, open different bank accounts for expenses and savings. At the start of every month or when they get their salary, a part of the income can be transferred to the savings bank account, and never carry the debit card of this account with yourself, rather place it safely in your locker. The rest of the amount that is in expenses bank account should be used for monthly expenses. In this way, you protect your saved money from getting spent.

Invest your money in Mutual Fund

Keeping your money idle at a place, when it can earn for you, if invested! Well, it’s not a good idea. The money that you have been saving in your savings account, retain a part of it as an emergency fund and invest the rest in the mutual funds, where it has the potential to earn returns, for your goals. Not only this, when you invest in mutual funds for your goals, this helps you to prohibit your habit of impulsive buying.

Lifestyle changes

Well, the above strategies help you to protect your money from outside, but at the same time the change should come from within, that is, people need to understand that in order to protect their savings, they need to change their lifestyle. Do shopping, only when it is required, don’t buy things, because it is trendy, and others are buying it. Give sometime before you make the transaction and give in to your impulsive buying habit, this will help you to think twice, before making the payment think, are you going to use it and if yes do you really need it now or in near future.

The most important thing, be satisfied with what you have, don’t compare yourself with others, comparison leads to dissatisfaction, which ends with more impulsive shopping and more expenses.

Have an impulsive shopping fund

No one can control their habits for long, if they do, they will get bored or tired. If you are also habitual of impulsive shopping and can’t resist it for long, save for your spontaneous shopping, for that build a separate fund and keep adding to it every month but try your best never move to your savings for your impulsive shopping. This way, you won’t be eating up your savings and get to fulfill your needs too.

As of now, you must have understood how smartly you can protect your savings from getting spent by you. Follow these strategies for smart saving and investment.

You can also contact us at Shri Ashutosh Securities Pvt Ltd., we are here to help you in any way possible.


Happy Investing!


(Mutual Fund investments are subject to market risk Illustrations are for example only, there is no guarantee of returns. Past performance is not an indicator/guarantee to future returns).