How to save money in nepal- 5 Simple Ways to Start Save Money

Published by puspa chaulagai on

How to save money in nepal

Simple Ways to Start Save Money in Nepal

Nepal is one of the underdeveloped countries, Among 50% of the population of Nepal is underline of poverty. That why it is necessary to know how to save money in Nepal.

Money is necessary to fulfill your demand that’s why it’s necessary to save it.

Let’s jump to our topic of how you can save money in Nepal to reduce the crisis of money. This guide helps you to save money for your future.

1. list your Expenditure

The first thing you have to do is list out your expenses monthly/ yearly/ or even daily.

How much do you spend in a day/month/year? list out all of your expenditures.  It’s necessary because it helps to know how much money do you spend?.

2. Know your budget

The second is to know your budget, Once you clear about expenses that then its time to figure out your budget for those expenses.

By this, you can manage your budget for expenses, pay attention to regular/significance expenses like food, clothes, and unregulated expenses like servicing of the car.

3. Search ways to reduce your expenses

The third step is to know about, find ways where you can reduce your expenses. If there is no money left at the end of the month then your expense is very high.

Identify unnecessary expenses like the mobile bill( recharge card, data, etc), entertain expenses movies, parties.

Like this search, other things that are not important but you are buying.

4. Make multiple sources of income 

Only reducing and cutting down expenses not make you rich you have to create multiple reoccurring sources of income. Especially if your income source is online then you have to multiple sources of income.

The advantage of multiple sources is they help to increase your bank balance and saving accounts. Multiple sources can be left your money at the end of the month.

5. Create a saving account at the bank 

Money in your pocket you can easily spend it, but in the bank, you don’t spend easily like in the pocket.

Creating a saving account is important because it reduces your money crisis problem.

Once you have multiple sources of income and cut off your unnecessary expenses you have some money left.

Its time to deposit that money into the bank why? there is two advantage:

Whenever you need you can withdraw
The second advantage is you can get a certain amount of interest.

Conclusion:

Here, you learn about how to save money in Nepal, 5 simple ways to start saving money in Nepal.

If you like this article share with your friend’s relatives who just want to learn about this.

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