Highlights
- Vatsal shared hacks to save money in the US
- Vatsal Nahata and his background
- Tips and life hacks that will make your wallet glow.
Saving money is important for Americans for a variety of reasons. This county has an ever-changing economy. And thus, having a large bunch of savings provides financial security during times of economic hardship. Investing your money can help grow your savings faster, allowing you to reach your goals sooner.
Who is Vatsal Nahata ?
Vatsal Nahata is a young Indian research analyst who came into the limelight for acquiring a job at the World Bank in 2020-22. But behind his job, there stand his efforts, difficulties and hard work. He completed his economic honours from SRCC in 2018. Post that, he earned his Master’s degree in Economics from Yale University in 2020. He is currently working at IMF (International Monetary Fund). His LinkedIn posts always pop up with financial tips, hacks, strategies and advice.
Nahata recently shared some tips and life hacks on saving money that would avoid creating a pit in your bank account if you are living in the US.
Financial Hacks for living in the US
Purchasing groceries carefully – American grocery stores are filled with 85% of products containing processed chemicals. Avoid buying items which have high amounts of added sugars, high sodium and tocopherols. These ingredients can lead to obesity. Instead, spend $2-3 on high-quality products.
Get a credit card for yourself – You can save $700 if you have a car loan interest with a credit history. Even though you would be spending just $10 per month through your credit card, it would be worth enrolling for one.
Enrol for a CVS membership – A CVS membership just costs $5 per month. Plus, you can get benefits worth $10. This membership can be used for your daily needs like shampoo, soap, toothpaste etc.
The $1 store– There are places like Macy’s, TJ Maxx, and Nordstrom Rack which have huge discounts during the onset of winter. You can also buy items from the $1 store.
Focusing on Health Insurance– Don’t look out for cheap health insurance like Bajaj Health Insurance. If you intend to stay for 3-4 years in the US, invest in the insurance system of the US. Go for regular health checkups through your insurance.
Saving money is important for all, and following these tips can help individuals save money and prepare for the future. By creating a budget, reducing expenses, increasing income, and saving for the future, Americans and people living there can ensure they have enough money to cover their expenses and plan for the future. With the high cost of living, it can be difficult to save money in the US, but it is not impossible. By following a few tips, you can save money and ensure they have enough money to cover their expenses and prepare for the future.
