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In: Economics

PLEASE TYPE!!! atleast 3 paragraphs please There are many other tips that can be found online...

PLEASE TYPE!!! atleast 3 paragraphs please

There are many other tips that can be found online to help anyone save money. Perform at least one internet search to find informative or educational web pages about tips to save money. Read through at least one of them. Be sure the web page you found includes the information you need to discuss in your paragraph (see below). Address all of the following in your paragraph: What web page(s) did you find? Identify each web page by their title (as shown in the Google search results) and web address (URL). Have you tried any of the tips identified in the web page(s)? If yes, which of the ways to save money have you tried and which tip have you found to be the most effective in saving money? Why do you think they would be/are effective? If no, which tip do you think would be the most effective for you and that you might want to try. Why would you think this tip might be the most effective for you?

Solutions

Expert Solution

Web pages--

How to save money :20 simple tips|Dave Ramsey .com .www.daveramsay.com >Blog

10 Best Ways to Save Money|Saving Tips|Regions. www.regions.com.Budgeting and Saving.  

Yes, I have tried the tips in the web pages.Some ways to save money overtime are Creating  a budget,, saving automatically,building an emergency fund,tracking the expenditure of the household,avoiding debt piling up saving money on necessary expenses like buying a cheaper mobile phone,,lowering utility bills,saving money by spending less through  envelope budgeting,eating at home etc,  saving money by creating extra income like selling extra stuff or renting out equipments,saving money with easy hacks like a virtual piggy bank etc.I have found the tip creating a budget and saving money by spending less through envelope budgeting to be very effective.

Making a budget helps to save money long term.Firstly it is necessary to assess how much money we have and use the 50/20/30 rule to create a budget.This rule states that 50% of the income should go to essentials, like rent, food etc, 20% of the income  should go to savings and 30 % of the income should go to entertainment and other personal reasons.Building an emergency fund for unforseen medical expenses also helps to save . If the fund is not put to use , that can be considered as saving.Envelope budgeting also helps to save as credit cards buying lead to more expenses . Putting cash in different envelopes help to save as this ensures that more is not spent in one area.


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