‘Save Money’ is the only advice which we receive from our parents, and we know how important it is. Don’t we? But, it is a battle that only legends conquer to live happily ever after with it. But what about us? Well, saving money is not an option but an essential survival kit. But how will you build your personalised kit to nurture all your needs? Well, when you need it, think of The Panel Station. We are here with some essential tips to save money that will boost your wealth and help you to plan everything accordingly.

The Game of Addition and Subtraction: Save Money Now

Save money -Addition & Substraction

One should keep aside a fixed amount to be saved every month. Yes, if you are beginning your journey to save money, then you need to follow some golden rules.

Divide your income into three parts – Essentials, Desires, and Extras.

Essentials are your rent, groceries, EMIs, etc. A major part of the income should go into fulfilling the essentials. Yes, it is important to pay your rent and settle your EMIs more than eating out at your favourite Chinese restaurant. Only when you have covered the essentials move on to the desires. Desires are lifestyle-related expenses like a fancy dinner date, buying new clothes, online gadgets shopping, etc. Remember to put a clear demarcation line between the essentials and desires. The problem often arises when we start considering our desires as essentials. So, if you are thinking that getting a new iPhone is more important than paying EMI or hosting a party for friends is more important than paying rent, we would say: Dear friend! Change your priorities.

But how much can you spend on your desire and needs, and how much should you save? You can make a 50-20-30 rule: where 50% of your salary goes to the essentials, 20% towards desires and a balance of 30% towards savings.

Unnecessary Debts: Might Cause Problems

Save Money - Unnecessary Debt

We all have friends who are ready to lend us some money when we are in need. But borrowing money should always be restricted to fulfilling essential needs. Unnecessary debts can land one in problem because it is always easy to take but difficult to give. So if you have been taking money from friends for a party or buying expensive lifestyle items, remember to settle it back at the earliest before it becomes a noose around your neck. Similarly, stop swiping your credit card at every item you wish. It is not a magic wand. Credit card interest rates are on the higher side.

Start Investing: It Is the Smartest Move

Save Money - Start Investing

It is never too late to start investing. But before starting investing, you must also know how to manage your money. It doesn’t matter if the amount is large or small; investing money in the right place can be helpful in hay days. So, check out the right option for investment and take suggestions from the right people before investing.

Track Your Spending

Save Money - Start Investing

This might sound like a tedious task, but believe us, it will help you to save a lot more. Though you don’t have to keep a count of every penny you spend, it is a good practice to list down your expenses. That way, you will know how many unwanted expenses you make in a month or week. So, if you are old school, you can maintain a journal jotting down all your expenses. Or, if you are techy, you can use apps to keep track of your income and expenses.

On an End Note, 

Now that we have given you some tips on how to save money, here is an easy way to make some quick money that you can use to party hard or just add to your savings. Follow the steps below:

  1. Download our app
  2. Register with us
  3. Participate in surveys regularly

And what do you get if you join us? You don’t have to kill your desire to get something or go out somewhere because of a lack of money in your bank account. You can earn reward points worth instant Paytm cash daily. Along with it, we give you a chance every month to win the monthly prize draw, i.e. sweepstakes and TopReader contest. You can buy the tickets from the reward points you collect and wait for your luck to rock and roll.

Sounds like a plan? Better than savings for this moment? So, start sharing your opinion and get rewards that can truly change your life and help you live the lifestyle you want to.

A writer who believes in the power of words and wants to become a successful author, Ankita puts humanity before any religion or gender. If she is not working, you will find her either chatting with friends or eating. She loves to spend time with her family, travel, read love stories, watch movies, and listen to songs.

292 Comments

    • Manmeet Kahlon Reply

      Love how simply the writer has put the easy formula of getting into a money saving habit.

      • Hermias Rossouw Reply

        Thank you for your advice. Fortunately I have been following these rules for years. Good advice it works for me. Regards.

          • Morgan Wynes

            Hmm so amazing but really saving is a bit hard here in Kenya more so if your earnings are low but still we can try and make it however they are because without saving their is no happy future

        • Ms.caroline Nwaefulu Reply

          The best strategy towards having available income always.This 50-20-30 strategy is helping me so much in achieving good savings after salary for the future am glad I got this from panel station platform nice.

      • Shridhar potbhare Reply

        Investing is more profitable than saving and your blog is very good

          • Виктор

            Все вышеизложенного советы очень интересные в сохранении и накопления денег. Можно без проблем применять и следовать им в достижении своей цели

        • การลงทุนและการอดออมคือสิ่งที่ดีมาก

      • Pranjal Singh Reply

        Truly said, this will so helpful for the College students. This article is so good.

      • Pranjal Singh Reply

        I fully agree with your Idea!
        I must say this article can change the perception of “Money”.

        • Great and helpfull money saving tips. I will definitely keep it mind from this month and gowing foward.

        • I completely agree with your idea😊 and it’s really good idea 👍💡👏

      • Pranjal Singh Reply

        I completely agree with your idea!
        I must add that this piece has the potential to alter how everyone in society views money.

        • Money tells about save money . If you save me today, I will save you tomorrow. It’s not about how much money you make it . It’s how much money you save it for present and future .

      • Ankita Reply

        Congratulations Manmeet Kahlon! You are our September’s “TopReader” and have won 500 points. Keep commenting and strengthen your chance of winning.

    • Shradha sudershan lohar Reply

      Very nice survey platform hai the panel station Mai bahut hi trust karati hi espe muze bahut hi pasant aata hai survey complete karana

      • Nama Hanuman Reply

        Thanks for your valuable opinion and it good for us who is have more expensives like rent, emis, food etc.
        This will be more help full for us as a second income for savings

        • Amal Hemed Reply

          الادخار هو اسلوب حياة مفيد جدا شكرا لك

    • Gerrit Olivier Reply

      The readability is excellent. The writer put the formula for saving in easy terms. The flow of the essay is also excellent.

    • I was amazed by your content and the experience was awsome thats all it from me.!😊

    • Great and helpfull money saving tips. I will definitely keep it mind from this month and gowing foward.

    • This is a wonderful piece of advice for one who has no financial discipline.

    • Sumit Mahawar Reply

      Money play very important role in life and when it come financial dependent we have to plan

    • Hyun Taek Lim Reply

      미래를 위해 돈을 저축하고 유용하게 활용 할 수 있는
      좋은 조언입니다.

  1. I liked the core idea of the blog to divide the money into three parts and not to mix desires with essentials which is what most of the people do and end up with no money

    • Good article,gave me an idea as to how to handle my finances.Not sure about the dividing into 3 .

      • Peter Chukwudubelu Reply

        This article is mindblowing, it is just speaking to me directly. I understood the philosophies between the lines of investment, savings and nurturing money.

    • What an insightful article 👏…as millennials theres bound to be spend on things that you dont even need but want! I think this article would help alot of people! Well done @Thepanelstation

      • Missed Ngwenya Reply

        I learned that to understand money intricacies.Money had to be your best friend.It must be treated with respect and possessiveness and I’ll do the same to you.Money must be treasured.Its only then that our relationship with money would be smooth

    • Quite insightful and interesting . I love the 50-20-30 idea. It’s worth giving a try

    • Barry Obineche Reply

      “Food for thought”, these are insightful points on how to manage or save money. Like the say “Little drops of water make the mighty ocean”. Small amounts can on one day give rise to big things.
      These essential survival kits will definitely guide us through the paths to living a happier and more fulfilling life.

      • Isa Furniturewala Reply

        Nice concept for saving money for your desires and future
        Thank you for the advice

  2. Jishan monu Reply

    I filled a true information but my survey is tell a better luck next time and missed why?

    • Ankita Reply

      Thank you for writing to The Panel Station. We continually strive to improve your experience with our quality service.

      With reference to your query, we request you to share your registered email address to proceed. Along with it, Kindly share the Survey ID of the survey for us to investigate further.

      You will be able to find it in the survey invite mail at the top right side of the page. If you do not find it there, please send us the survey invite email to process your query further.

      Thank you.

      • I like spending my money on unnecessary stuff but today I have learned that I don’t need to spend my money on unnecessary things, in fact I need to start saving!!!!

        • Umar ibrahim Reply

          Good as gold; the piece is articluative in terms of it’s arrangement, useful in it’s contents, enlightening on the app and finally awesome in general.
          Being honest, Right from the moment when the idea was conceived to the outline of the topic a lot of work has been done and i can assure you that this is the piece of work that many people out there need that will surely transform thier lives.
          Thanks for sharing with us.

  3. Rahul Bhandari Reply

    Good and informative article.It explains the necessity of saving and investing today can build a brighter future tomorrow.Even small amount of investment is a step to better future.The article beautifully explains the formula how to invest and spend(50-30-20).Definitely it strengthened my view to invest and will now be trying to invest wisely and more.

  4. Lawrence Akingbulugbe Reply

    Great financial tips addressing rudiments of life money management,thanks@Tps

  5. Saving money is pretty hard at first but once you get started it becomes a norm.
    So if you’re struggling to start saving money just know that it’s normal and you’ll conquer your fears once you get started

  6. Pooja singh Reply

    It’s always difficult to manage money specially when your friends visit you all this article has cleared my mind I would try not to spend too much on desires and focus on the formula 50:20:30

  7. Manish prajapat Reply

    Good and informative article.It explains the necessity of saving and investing today can build a brighter future tomorrow.Even small amount of investment is a step to better future.

  8. Saving money is very good , it is important to make it part of ones life . I love keeping part of my income

    • Umar ibrahim Reply

      Good as gold; the piece is articluative in terms of it’s arrangement, useful in it’s contents, enlightening on the app and finally awesome in general.
      Being honest, Right from the moment when the idea was conceived to the outline of the topic a lot of work has been done and i can assure you that this is the piece of work that many people out there need that will surely transform thier lives.
      Thanks for sharing with us.

  9. Jane Whitehouse Reply

    I beg to differ in a few areas. Firstly this is not the “only” advice given by parents, surely? Certainly not mine and, had I been a parent, I’d have had more advice.
    Second…I’d budget for essentials then savings with a little left over as either non-essentials or to be added to savings or maybe carried over to next payday. I certainly would not budget for those non-essentials. I would always prioritise saving.

    • Fanisa Ngwenya Reply

      A very good and eye opening article, more specifically where it takes about tracking your money. You would be surprised at how much one spend and without even tracking small amounts on non essentials

    • I would like to add this small advice , please don’t
      Be tracked with marketing tracks and buy only what you really need not what in sale or what is more beautiful than you have

    • Ankita Reply

      Hello Bonface Kibigo Njoki,
      Thank you for reaching out to us.
      We are sorry for the inconvenience that you were not able to log in.
      Please follow the below process for logging into The Panel Station via The Panel Station Mobile Application.
      We request you to kindly try the below troubleshooting tips to help:
      1. Try clearing the cache data from the phone. You can do so by: Go to settings/applications, find the App and clear data.
      2. Trying to restore factory settings, but please ensure you save a complete backup of your phone data.
      3. Try uninstalling and reinstalling the App.

      If you’re still unable to log in via App, please try to log in via browser.
      If you have any further queries, feel free to reach out to our support team at kenya@thepanelstationsurveys3.com.

      • Yes agree very interesting info that will help me save better in future. Reply

        A very good plan expecially for bad spenders .with this advice it’s bound to make a positive influence in my savings and income today.

    • samuel malati Reply

      I have tried panel station.it is a true site and useful but most surveys I share are not suitable gor for me

  10. Umar ibrahim Reply

    Good as gold; the piece is articluative in terms of it’s arrangement, useful in it’s contents, enlightening on the app and finally awesome in general.
    Being honest, Right from the moment when the idea was conceived to the outline of the topic a lot of work has been done and i can assure you that this is the piece of work that many people out there need that will surely transform thier lives.
    Thanks for sharing with us.

  11. It’s good to invest your money but you’ve got to be careful and snart about it to avoid incurring more losses.

  12. The harsh part of reality is you need to make that money before attempting to manage it. And with TPS, you can earn some stipends during your free time.

  13. Nirmala shahani Reply

    Excellent tips to save money and how to track our spendings.
    Excellent platform for all who want to earn extra for their personal and charity expenses.
    Would like to do more surveys and give my opinion. Would also like to add a point that the age limit shouldn’t be a point to give opinion as older people have better experience then youngsters.
    Thank you and gratitude

    • Eye opening article. We tend to prioritize what we really don’t need. But sometimes in as much as we try to save its never enough, we survive on hand to mouth everytime. Sad reality. We can only try after all!You’ve simplified something that has been the bane of almost my entire life. I knew there are essentials which are needs and desires which are generally luxuries. Never had the extras column. But the rise of prices for everything and inflation, some luxuries have really become basic necessities like a car which is more of a convenience than a nice to have. I’m going to put the shared ideas from the article to good use and practice. I need to just spend 50% on essentials not more. Thank you 😊

  14. Luxury Msiza Reply

    You’ve simplified something that has been the bane of almost my entire life. I knew there are essentials which are needs and desires which are generally luxuries. Never had the extras column. But the rise of prices for everything and inflation, some luxuries have really become basic necessities like a car which is more of a convenience than a nice to have. I’m going to put the shared ideas from the article to good use and practice. I need to just spend 50% on essentials not more. 🙏🏾

  15. Eye opening article. We tend to prioritize what we really don’t need. But sometimes in as much as we try to save its never enough, we survive on hand to mouth everytime. Sad reality. We can only try after all!

  16. 1 HOURS AGOREPLY
    It’s good to invest your money but you’ve got to be careful and snart about it to avoid incurring more losses

  17. Perfect
    Very nice idea of dividing the income in three parts. I liked the idea, it taught me something new.
    Liked the thought, would be putting in real life.

  18. Mohamed Taher Reply

    It was very interesting topics to learn a lot about how much we make and save money at same time. Thank you

  19. Samar sayyed Reply

    Eye opening article. We tend to prioritize what we really don’t need. But sometimes in as much as we try to save its never enough, we survive on hand to mouth everytime. Sad reality. We can only try after all!

  20. Carlington Pinnock Reply

    Interesting app. Very innovative approach. I will refer others.

  21. Edam rakesh Reply

    Eye opening article. We tend to prioritize what we really don’t need. But sometimes in as much as we try to save its never enough, we survive on hand to mouth everytime. Sad reality. We can only try after all!

  22. Kundan Singh Mehra Reply

    Pannel station amazing servey app/website.great work pannel station

  23. Kundan Singh Mehra Reply

    Pannel stion amazing earning servey app/website amazing reward paytm cash or vochers

  24. Eye opening article. We tend to prioritize what we really don’t need. But sometimes in as much as we try to save its never enough, we survive on hand to mouth everytime. Sad reality. We can only try after all!You’ve simplified something that has been the bane of almost my entire life. I knew there are essentials which are needs and desires which are generally luxuries. Never had the extras column. But the rise of prices for everything and inflation, some luxuries have really become basic necessities like a car which is more of a convenience than a nice to have. I’m going to put the shared ideas from the article to good use and practice. I need to just spend 50% on essentials not more.

  25. This is the best survey site I have ever used in my life. Sometimes when I am facing any problem with my account and I contact them they resolve that issue very fast. Overall I love this site.

  26. Shreyans Baid Reply

    Very good article and eye opening 1 as it gives more details about it

  27. SABYASACHI CHHUALSINGH Reply

    The most effective way of saving money is ,think a thousand times before spending it. Unless it is a need don’t spend money. Rather go foor needs than just for show off.
    But nevertheless investing is a good idea .
    Follow the propertionate pattern of spending, saving and investing of money.

  28. Can you give me suggestions like about financial problems related?

  29. Arshdeep Singh Reply

    Very nice and informative article. Gained more facts and knowledge. The panel station is best for doing surveys, expressing my views & earning rewards

  30. nice The most effective way of saving money is ,think a thousand times before spending it. Unless it is a need don’t spend money. Rather go foor needs than just for show off.
    But nevertheless investing is a good idea .
    Follow the propertionate pattern of spending, saving and investing of money

  31. SUJOY SARDAR Reply

    I can learn about save money. And really this article is very important. Very good article. Because when I received any Money from our parents, and we know how important it is. So this articles helps me make a better people about “save money”.

  32. Learning How to save money is an important life lesson wihch give us number of benefits Through out our lives by helping us gain financial freedom, its great article about save money,keep going..

    • Hammad Khanj Reply

      Very nice piece of information to get benefited.Really thankful to The Panel Station.

  33. satyam yadav Reply

    Very nice survey platform hai the panel station Mai bahut hi trust karati hi espe muze bahut hi pasant aata hai survey complete karana

  34. Dilip kumar Reply

    I thnk it’s a good way to start some new habits in our daily routine.

  35. Nazia hasan Reply

    Panel station bht he accha plat form hai money gain karne ka ye mujhe is pe bht trust hai i like it

    • Ranjana Gupta Reply

      The most effective way of saving money is ,think a thousand times before spending it. Unless it is a need don’t spend money. Rather go foor needs than just for show off.
      But nevertheless investing is a good idea .
      Follow the propertionate pattern of spending, saving and investing of money.

  36. Ranjana Gupta Reply

    The most effective way of saving money is ,think a thousand times before spending it. Unless it is a need don’t spend money. Rather go foor needs than just for show off.
    But nevertheless investing is a good idea .
    Follow the propertionate pattern of spending, saving and investing of money.

  37. I practice saving money too but it’s a really hard task and more articles like this should be published for people to understand the importance. Thank you.

  38. To prawda. Najpierw ustalmy sobie priorytety najważniejsze opłacenie rachunków należności zaspokojenie podstawowych potrzeb a później przyjemności. Warto ustawić sobie cel i co miesiąc odkładać nawet symboliczną kwotę. Ważne aby robić to regularnie trzymać się celu.

  39. Beatriz Araujo Reply

    Um post extremamente valioso! Vejo que muitas pessoas não compreendem a importância de economizar, e acabam se enrolando em dividas todos os meses.
    Essas dicas são muito importantes!

  40. Ajiboye Mark Reply

    Best write up I’ve seen on how to attain financial stability

  41. Vibhuti Mayavanshi Reply

    It’s very nice…….
    It’s very good for save money

  42. Sefiat Lawal Reply

    This is a well detailed article. It is very important to start saving now for future before it is too late. Thank you for highlighting the tips for saving money and we can earn extra income.

    • Tne topic was evergreen one. It was very useful to tell us about saving in the most simple way. Tha k you for having such a wonderful article

  43. Arindom Boruah Reply

    Thank you for the guidance. This will surely help me and others.

  44. Thank you for this guide it will be very helpful from now onwards. I’ll be making use of the 50-20-30 rule I can already see how it will assist me in spending money so that everything is balanced. +

  45. It is good one to spending money in a right away..its a eye opening article

  46. Altamash Qureshi Reply

    Thanks for you information i flw this rule in my life thanks for your advice thankyou

  47. Peace Madueke Reply

    Definitely one of the best posts I have read this year! Thank you so much for this!

  48. Jojo mylieh Reply

    Wooow. I have learned how to use my income. This is truly Amaizing

  49. Jojo mylieh Reply

    Wooow. I have learned how to use my income. Am loving this app day by day

  50. Love how simply the writer has put the easy formula of getting into a money saving habit.

  51. Chinwe Grace Reply

    The future is unpredictable! Hence, savings and investment becomes the alternative possible solution to future financial plan

  52. Heather Mills Reply

    What a lot of useful tips on how to save money. Right now, my problem is I am not working but soon I will be so these tips are definitely something I will keep in mind as the paychecks roll in.

  53. Gloria Walshver Reply

    This is so useful to many young people even senior citizens like me

  54. All good advice there but one other thing might also help. Your monthly bills are easier to pay if each payday you Bpay some money onto them.

  55. Ahmed Magdy Reply

    Thank you for this great advice. They are good ways to save money, starting with good planning to save money, through rationalizing expenses, and then investing money through different investment methods, including the panel station platform.

  56. Thank you for your advice, nice to see these about earn money and save money good articles great news

  57. Margaret Adhiambo Reply

    Thank you for the wonderful and great tips on how to save and invest incomes. This is eye-opening facts that need to be put into practice.

  58. مدونة رائعة وتقدم نصائح حيوية وهامة للادخار والاستثمار المنهج وبطريقة علمية وكذلك استثمار الوقت في برنامج لوحة المحطة

  59. This article is very useful and I will apply this tips in my life.

  60. natalie lendoor Reply

    very useful info, sometimes easier said than done. but to start is the magic

  61. Peter Russell Reply

    The best advice in this article is keep a track of your spending. It does not have to be difficult, I use a 16 column Analysis book where I track all my major item like power, rates, food, phone, insurances, etc. You head the columns with your own personal headings. After you have done this for a year you have an excellent idea of your average monthly costs. You then have a good idea of where your money is going and what disposable income you have to save. I track my spending daily, which is usually not more than 5 or 6 entries. This also shows you where you can make cuts on unnecessary spending. You will be surprised how quickly savings can mount up. I am on both a government and private pension, and some income from investments, but my income annually is not a lot. In spite of this I still save enough for an annual holiday, and a recent big ticket item purchase.

  62. Jaykumar Pradeep Kuvare Reply

    A writer who believes in the power of words and wants to become a successful author, she puts humanity before any religion.

  63. Andile Mdhluli Reply

    Great way to help us understand the value chain of money. In my opinion I think it very important for such topics to be mostly talked about at a micro level, in school. Teaching us mathematics and accounting has got nothing to do with the reality we are facing now. Yes u can count and u r good with numbers but can you handle the money, can u budget. Thank you.

  64. As a millennial, I find these tips quite helpful. I have a lot of things that I want to acquire with money that I don’t yet have and I regularly brainstorm ways to make the most out of my savings and investments

  65. Gopal sigchi Reply

    This type of article are great bcz by this my money saving habits is more

  66. The article is piece to read and think about ..good saving and investment tips precisely that 50%-20%-30% equation ..i like it !!!

  67. Good article. Though hard for those that live from hand to mouth.

  68. Oderinde Stephen Reply

    Saving Money helps a lot for investing and later use.

  69. Saira Jabbar Reply

    Amazing techniques to save money! It’s important to do so for one’s future.

  70. Nada Mohamed Reply

    Very useful article,i will follow this steps starting from the new year. Hope it works

  71. Mohamed bakr Reply

    الاستثمار هو المجال الذي يتمنى الجميع الدخول فيه وجني الثروات. ولكن له مخاطر مدمرة

    • Eman Mohamedabdelsalam Reply

      انه مقال رائع ومفيد ولكن مخاطر الاستثمار تكاد تكون كبيره جدا ف يجب الحذر
      وعدم استثمار جميع الاموال التي نمتلكها ف الحال

  72. محمد صلاح حسين محمد Reply

    تقنية رائعة لحفظ الاموال وافكار مستقبلية ملهمة

  73. “A guide for Millenials and earn money” is a strange way to title this, but we at least get the idea. I’m not sure, though, why this concept would be aimed at just millennials. Gen X, Gen Y, and probable even half of the boomers out there could do these same tasks.

  74. عبد الحليم Reply

    توفير الاموال ممتعللحياة الممتعة

  75. Adeniran Albert Oluwafemi Reply

    A resourcefu means of changing mindsets and reasoning of how to handle wealth and resources to avoid unnecessary and extravagant mode and means of spending. Kudoooos!!!!!!!

  76. Ayo Fajuyitan Reply

    this is a big money management refresher course. And in addition,. never spend what you are yet to earn or what you are expecting

  77. مقالة مفيدة للادخار وكسب المال او الاستثمار

  78. Investing money earns you money, saved money is potential withheld, that’s just my opinion but the writter had the right ideas.

  79. Thrift and moderation in spending is a virtue in itself. A lack of it can seriously complicate daily life and lead to considerable hardship. In an age of ubiquitous consumerism, it is easy to fall into a mania for mindless spending. This can lead to a condition known as shopaholism, which is similar to other forms of addiction and can be treated in residential centres. In order to avoid such dangers, one should follow the principle that “too much is unhealthy” or “find moderation in everything”.

Write A Comment