70 Money Management Tips for Every Occasion

Money management is not the exclusive domain of high net worth individuals and big corporations. It is for everyone; for people like you and me. And you don’t need to be a financial wizard to stay in control of your finances. All it takes is a little know-how and a few money management tips to live within your means.

You may be familiar with hundreds of ways of managing your hard earned money but in today’s fast paced life it is not surprising that we often fail to implement them. Mentioned below is a checklist of 70 money management tips that will help you reduce debt and save money, and will put you in total control of your finances.


1. Do not pamper your child by fulfilling all their whims and fancies.

2. Try to involve kids into regular financial meetings.

3. Encourage your kids to play money management games.

4. Inculcate in them the habit of preservation and conservation.

5. Help your child understand the importance of financial independence.

In school

6. Parents as well as school authorities should help children understand the importance of safeguarding/preserving     personal and school property.

7. Teachers and parents should play an active role in making them learn wise use of their pocket money.

8. In higher grades, children should be taught money management tips relating recession, inflation, job retrenchment etc. to     help them effectively deal with such situations.

At college

9. Share expenses incurred on house rent, food, shopping etc. with your friends.

10. Do not get influenced with your peers and avoid indulging yourself into spendthrift habits

11. Look for a part time job.

12. Pay your academic fee on time and return books to the library on or before the due date. This will help you save       money incurred as late fee.

13. Use your student ID card to avail student discount benefits wherever applicable.

14. Try to involve yourself into financial discussion with your friends.

15. Make wise use of your credit cards. Better still, just stay away from it.

While Working

16. Establish a balance between your necessities and income, and spend accordingly.

17. Invest in insurance policies such as health policy, education policy etc.

18. Try to curtail spending on cigarette & alcohol. It is both in the interest of your health and finance that you give up.

19. Car pooling is an option worth considering for commuting between home and work.

20. Save a set fraction of your income every month.

21. Use credit cards for emergency purposes only.

22. Pay your bills on time.

23. Avail employee benefits such as vacation pay, contribution to retirement plans such as 401K plans, stock options, etc.

For Retirement

24. Set up a saving plan(s) as early as possible.

25. Try to get rid of all your debts before retirement.

26. Choose an optimum retirement plan, keeping your income and monthly financial needs in mind.

27. Understand! Retirement is not the end of your working life. You can setup your business or work as a consultant.

28. Save a set fraction of your income every month.

Business owners

29. Use both the sides of a paper for in-house printing jobs.

30. Buy office supplies in bulk.

31. Make wise use of computers.

32. Use toll free numbers whenever possible.

33. Use automatic light switches to save power.

Food Bills

34. Take your friends and relatives to the market along with you and save money by  buying in bulk.

35. Learn to cook and save money on eating out.

36. Go veggie at least once a week and save extra money on meat.

37. Learn to cook and save money on eating out.

38. Buy generic food items.

39. Make full use of discounts and offers in stores.


40. Buy from nearby markets to save on commuting cost.

41. Have a shopping list as it would help you in saving time, money and energy.

42. Going for shopping after breakfast or lunch will save your money on food bills.

43. Opting for substitutes, wherever possible, will help in getting products at reduced prices.

44. Signup for store loyalty schemes and earn redeemable points for future discounts and offers.

45. Make use of promotional schemes with friends and family.

46. Avail the benefits of clearance sale.

In summers

47. Shading your home will helps reduce the air conditioning cost by 30% to 32%.

48. Grow fruits and vegetables in your garden.

49. Save money on your electricity bills using renewable energy source like solar panels, wind turbine, etc.

50. Instead of using a dryer, sun dry your clothes and save on electricity bill.

Buying a house

51. Budget your choice of house on income and future financial commitments.

52. Do not take a mortgage that is not in sync with your monthly budget.

53. Buy a house that has basic amenities such as shopping markets, transport facilities, parking facilities, etc. in the       vicinity.


54. Share music CDs with friends.

55. Use Internet for listening to music.

56. Buy music online.

57. Listen to the radio.

Water bills

58. Turn off the water while brushing your teeth and shaving.

59. Try to re-utilize water as much as possible.

60. Check for water leakage.

61. Harvest rain water.

62. Use car wash and be judicious with the use of hosepipes.

Airport Parking

63. Book the parking space in advance.

64. Surf the net to get parking coupons.

65. Commute via public transport while going to airport.

66. If you travel via flights on regular basis then you can ask for a monthly parking rate.


67. Avoid being lured into buying expensive breed.

68. Buy pet food in bulk to avail discounts.

69. Buy pet insurance to cover unforeseen circumstances.

70. Take them for regular checkups.

Money management is a fun filled journey and is worth every effort you put in. Staying in control of finances and supplementing your wealth all along the journey is both satisfying and rewarding.

It may seem as a daunting task but once the ball starts rolling it is easy to maintain the momentum. We are sure that the money management tips enlisted here would help you accomplish this with ease.

We are looking forward to add to this list of money management tips with your help and support. Please send us your money management tips and advise and we would update the list along with you name.