No matter how many fixed deposits you have or how many life insurances you have bought, everyone should have a clear idea about how they should manage their finances. Handling your finances is not at all related with your financial status, i.e. whether you consider yourself to be rich or poor! It is all about managing whatever properties you do have and how can you help it grow. However, even if you think of you to be poor and you need more money, here are some simple steps that will help you learn how to save more and handle money efficiently.

Simple Tricks to Save to Be Followed by Poor and Needy

  • Try to earn some extra cash – If you find that it is not possible for you to save some cash from your regular expenses find some alternative ways of earning. Make sure the extra amount of cash that you earn is put away into your savings. If the job makes direct deposit to your account, make sure it gets deposited in your savings account directly. If it is not so, make sure the payment you get is deposited in your savings account immediately. Some of the best ways of earning some extra money is to walk your neighbors’ dogs, start a home cleaning service, start a movers and packers’ business with one or two of your friends, or start teaching students.
  • Start checking accounts – People with low income usually don’t have the habit of saving. But it is a must for all to have a checking or a savings account. In fact, it is advisable to have both of them as it will help you apply for a line of credit as it will prove that you can manage a checking account smoothly. The only thing that you need to make sure that it is a free account without any sort of penalties or hidden fees. You don’t need to put in a huge amount like $50 every month; instead of that try with smaller amount and commit $5 a week.
  • Increase your current wages – If you are already employed with some organization, ask your manager to give a hike on your current wages. If he is not quite ready for it, start working harder and try to impress the higher authority so that they are compelled to offer you an increment. Ask about the scopes for advancement in your company within one month. There are high chances that your boss would be glad to see that your attitude is not diminished at the refusal of the raise request and he will give you a letter of recommendation using which you can apply to another company with an increased expected salary.
  • Cut back on expenses – The last, but the most important trick is to consider your budgets. Compare your total income and all the expenses that you have to make. If you see that your expenses were larger than the income in the past four months, you surely need to cut back on your expenses. But if it is a positive number you can start saving with that extra amount.

Marie  is the author behind this article. For great returns she turns to

Image Credit: 401(K) 2012