The other day I and my friends were discussing our weekend plans. Some were going for a movie, others were going out for lunch and a few of them were going to a resort for a weekend outing. If you notice, there is a pattern here. All the plans involved spending money! Today we will see easy ways to save money everyday which we don’t really pay attention to.
#1 Expense free weekends
Try to enjoy a weekend without spending money. Sounds unrealistic? In the past few years our ideas of fun and enjoyment have changed. Try playing carrom, chess with friends. Or a guitar jamming session with friends, or cooking a new recipe. Enjoyment need not always cost money.
#2 Avoid having a coffee outside daily
Did you know that a coffee bought from a coffee chain store daily can cost you a fortune? You can buy coffee powder in the same amount of money and make your own coffee and drink it at home for months! This is an easy save which many a times goes unnoticed.
#3 Scrutinize your phone apps and subscriptions
We all use apps on our phone. Some of these are paid whereas some are free. Scrutinize your use on all the paid apps. In case you haven’t used them for the past few months, then you can cancel subscription to these and save yourself money. Similarly, for any other paid subscriptions which are not used but are continuing, you should aim to cancel them.
#4 Limit dining out to once a month
We have noticed a trend in the past few years, where families go to dine out every week. Simply limiting your outside meals can save you a fairly good amount of money each month. If you are a family of four, you could save a minimum of Rs 2,000 each week by simply limiting your dining out occasions. Not to ignore, you would also stay healthy by eating home made food.
#5 Use public transport wherever possible
Large savings can be made by simply using public transport for daily commuting or when you want to go from one location to another. Public transport systems like trains and metro not just save money, they also save time!
#6 Using alternative energy sources for daily use
Did you know using solar water heaters can reduce your electricity bill considerably. If you use 100 litres of hot water during the year you can save 1,500 units of electricity annually. This translates to big savings in electricity bills.
#7 Time your major purchases
Many a times products like phones, appliances, furniture, electronics sold online offer discounts and deals. There are also online sales and festivals where one can buy otherwise expensive items at a lower price. Try and defer expensive buys till the online sale. This can save you a great deal of money.
#8 Spend an eco-friendly Diwali
Fire crackers are one of the most expensive items in Diwali celebrations in India. These can create a hole in your wallet! These typically range anywhere between Rs 300 to thousands. If possible avoid buying fire crackers. Otherwise, limit your expense on fire crackers if you must buy them.
#9 Use the 30 day cooling off period & avoid impulsive buying
Give yourself a cooling-off period between the time you see an item and when you actually buy it. This habit helps to avoid impulsive buying and overspending. If you are shopping in a store just note the product in your mind and walk away until you have had more time to think over it. If you are shopping online, you can add the product to your cart and then move away to give yourself time to think about the purchase. If 30 days feels long, you can try shorter periods like 3 days to begin with.
