#1
#2
#3
When it comes to saving money, it’s always wise to seek guidance from experienced professionals. To gain deeper insights, Bored Panda spoke with Khushboo Dugar, a seasoned chartered accountant from India who specializes in financial planning and tax advisory.
Her tips are practical and easy to follow, whether you’re just starting out or already managing a household budget. The goal is to make thoughtful, informed decisions that support both short-term needs and long-term goals.
#4
I’ve had to actually think before withdrawing my savings so I’ve saved enough for a car and all my vacations the last 4 years and 10k on top of that.
#6
- home furnishing stores
- clothing outlets
- stores for hygiene items (like soap and such)
- children’s stores
And a lot of these places (when they’re companies) throw out a ton of stuff just because it’s “out of season” or “overstock” or whatever.
Khushboo emphasizes that having a savings account is non-negotiable. “Even if the amount seems small at first, regular contributions can grow significantly over time,” she explains.
A savings account acts as a safety net for emergencies and provides a structured way to set aside money for future goals, whether it’s a home, education, or investments. Starting early and being consistent is key to building financial security. Over time, small amounts add up, creating a cushion that can make a big difference when unexpected expenses arise.
#7
#8
#9
Budgeting and planning are equally critical components of financial health. Khushboo advises, “Create a budget and track your income and expenses carefully.” Knowing where your money goes allows you to identify areas where you can cut costs and save more effectively. Budgeting doesn’t mean restricting yourself; it’s about making intentional choices with your money.
#10
#11
#12
Whenever I want to buy something, think I need to buy something or am tricked into wanting to buy something, I wonder: will this actually make my life any better? And if so, can I obtain the same result from something I already own/can have without buying? This usually puts me off from buying, without leaving me with the feeling of missing out on something, quite the opposite.
Impulse purchases are one of the biggest challenges, especially with online shopping so readily available. Khushboo suggests taking a pause before making non-essential purchases. “Ask yourself if you really need it, or if it’s just a fleeting desire,” she says. Waiting even a day or two can prevent unnecessary spending. Being deliberate about purchases is just as important as earning money itself.
#13
#14
#15
Set a goal and write on paper each time you add money. Put it up somewhere as seeing your goal can help motivate you. It’s like a game, and reach that goal, ticking off checkpoints, is like a reward!
Reviewing bills regularly is another practical tip. “Check subscriptions, recurring payments, and services you may not be using,” Khushboo advises. Canceling unnecessary expenses can free up money for more meaningful priorities. Additionally, comparing prices and looking for deals ensures that you get the best value for your purchases. Small adjustments like these can have a big impact on overall financial stability, while also creating awareness of spending habits.
#16
#17
#18
Peer pressure can influence financial decisions more than many people realize. Khushboo warns, “Never spend unnecessarily just to keep up with others.” It’s easy to fall into the trap of trying to match someone else’s lifestyle, whether it’s buying flashy gadgets, cars, or luxury items. Instead, focus on your own goals, priorities, and financial well-being. Protecting your money from external pressures is crucial for long-term stability and peace of mind.
#19
