How I Save Money While I Spend

I come from a society that believes that not spending is the best way to save money. But it is a reality that we cannot stop spending in a consumerist culture that we are part of. In a consumerist world, it’s hard to save money as spending is seen as more fashionable.

We are forced to spend a lot of money, but we should know how to make it rewarding. Unlike popular perception, today, there are multiple avenues to ensure that you, as the spender, are also rewarded for spending the money.

There are multiple payments and tools that help you save money, and you can do that, too. As always said, money saved is money earned. I am narrating in this article, the ways I use to make money while I pay for day-to-day expenses.

As I am based in India, a lot of the options are local, but you can look in your own country if corresponding such options are available. So, the Currency in India is Rupee, so $1=Rs86.

Kochi 1 Transit card

I am from the city of Kochi, the commercial capital of the state of Kerala, which is also the second largest city on the West Coast of India. In 2017, Kochi Metro services started, and they started issuing Smart Transit cards for the same. This transit card is like a debit card, but it is prepaid. There is also an application where you can keep track of your payments and card settings.

You can use the card to travel in the metro and avail a 20% discount on each trip. The highest fare in the metro right now is Rs 60, so you will get a Rs 12 discount, which is not a small amount. Usually, for a Rs 50 fare, I have to pay only Rs 40, hence I am able to save a lot on public transport.

With Kochi Water Metro being recently inaugurated, the Kochi 1 card offers a 10% discount. I can also use this card for Water Metro services as well. Currently, the card is accepted on a few private buses that will give you a 5% discount per trip. It can also be used in various metro feeder service buses.

The card is mainly meant for transportation purposes but is not restricted to the same. The card can be used to access the Kochi Airport lounge for free. In addition, it has multiple offers when you shop across the city. For payments through Amazon, you also get regular cashback.

I purchased the card in 2018, at an offer price and renewed it once. This was a great one-time investment. In every city, perhaps you have a system like this to get discounted tickets, which everyone can use.

Credit Card

As I have stated multiple times, it is one of the tools to earn a lot while spending. Many people claim credit cards are a consumerist and debt trap, but this is not true.

If there is a single mode of payment that is accepted worldwide, it is a credit card, which enables you to pay for international transactions and make payments across the world. I have already written an article on what makes it a superior mode of payment.

I use a credit card whenever I go out and make an e-commerce transaction. It provides you with reward points, cashback, and discounts either online or at stores. Your credit cards also offer more offers during festive seasons, instant discounts, etc. It also allows you to access lounges at airports, which allows you to have free food at airports.

You can redeem your reward points for various purchases, discounted rates and even get free goodies. Another major aspect of Credit Cards is that they will improve your credit score, which makes you eligible for loans and more credit cards in the future without any haste.

The amount you have to pay for Annual Maintenance Charge will be negligible compared to the benefits you get. Also, if you spend more than the specified amount, you can definitely get your charges waived off as well. If you are a beginner to credit cards, I suggest you can opt for lifetime free cards wherein you don't have to pay any extra charges.

Using credit cards also keeps your money and savings account safe. At the end of the day, I get a clear record of all my transactions, refunds, and points. So when are you getting yourselves a credit card?

Fuel Card

This is a specialized credit card that allows you to earn points while buying fuel from the Fuel stations. For each transaction, you earn a lot of points. In addition, you can use it for payments anywhere else. You can redeem these points in turn for free fuel. So, even a Rs 1000 free fuel is a big deal.

Moreover, you have additional offers to make payments elsewhere as well. Today, many oil companies and banks unveil their fuel credit cards. So it is upon you to choose which card to buy and there is no shortage of options.

Mobile Applications

There are several applications we use to make our payments. In India, it is the UPI revolution, everything is about scanning a QR and making a payment through your phone. There are multiple apps like Google Pay, Amazon Pay, PhonePe, PayTM etc.

Google Pay and Amazon Pay are global apps which provide extensive payment services. In return, they provide a lot of cashback, offers and a lot more. For each referral adding new users allows you to earn fee Rupees as well. Amazon also allows you to make travel and bill payments easily.

Google Pay has come out with Tap and Pay, not only on POS machines but also on QR codes and UPI payments. Now, you can directly use credit cards to pay via UPI not only on scan and pay which is quite revolutionary.

The Cred App allows you to pay your credit card bills and earn money by paying your bills. This is also a great way to save a lot by paying the bills. Supermoney by Flipkart is now becoming a start by giving you proper cashback which can be withdrawn to your bank account.

Food Outlet Apps

In addition, if you are a regular visitor to food chains and outlets, you must be ordering food either through counters or through delivery apps like Zomato, Uber Eats and Swiggy. But if you use the apps of these chains you will get multiple offers, discounts, delivery options, festive discounts and much more. So, do download and use your favourite food outlet’s apps and get rewarded.

For example, Dominoes App offered match deals during the ICC World Championship Cup. Also, McDonald’s app offers special deals for its users as well.

Conclusion

Saving money doesn't require you to be more stingy rather, you can tactically use tools which can benefit you and have a rewarding experience. Take advantage of various methods of systems to leverage various payment methods to gain rewards and points.