HOME EXP. |
TO SAVE MONEY |
WITH FRUGALITY |
MONTHLY HOME EXPENSES
out the monthly budget & stick to it as far as possible.
* Note down total of direct & indirect income.
* Prepare list of requirements according to priorities. Set first priority
to necessity, second to comfort & third to luxury.
* While preparing monthly budget keep provisions for:
- maintenance, electricity, telephone, internet...
* After deducting
above expenses try to manage other things with the amount available.
* If market is at
walk-able distance from your home, avoid purchasing vegetables, fruits
& other homely necessities from hawkers sitting outside your building/apartment.
* Keep records of newspaper, milk ordered every day, cloth given for ironing
so that you can prevent yourself from being cheated through
* Every time after shopping list down each & every expenses. So that
you can tally total monthly expense with balanced cash.
* Pay your bills, fees & other payments in time to save the penalty
* Don't try to copy your rich neighbours & indulge in extra/unnecessary
* While purchasing routine cloths, purchase such cloths, which can be
easily, hand washed.
* Do not get trapped by any instalment schemes, as the interest charges
will create more burdens.
* Never do shopping in hurry.
* Don't purchase unnecessary things just because you like it.
* Parents can teach their children as long as possible & can further
train them for self study & hence can save tuition fees.
* Use your elder children's cloth, uniform, study material etc. for younger
* If school is at long distance, make a group of 4-5 children & hire
* If you are going outside for more than 60 days, suspend your phone service
* If possible go for bulk purchase of daily necessities, preferably from
* For long distance prefer train journey than bus journey as it saves
your time & money.
* Be alert & save electricity by putting off T.V., fan, light etc.
when not required, not keeping fridge open for long time, keeping door
closed when A/C is on.
* Instead of buying sweets & farsan from shop, it's better to make
at home. It not only will reduce the cost but you also get more quantity
& of better quality.
* Check out your major money stealer & try to replace those likes.
For e.g. - Instead of having costly cuisine at restaurant try some new
varieties at home. During picnics carry eatables from home. For outings
or sight seeing, plan in advance & hire vehicle for whole day.
* Instead of wasting money on cinema's ticket for a group of people, it's
better to watch movie on MP3.
* Use various electronic devices as per instruction to prevent excess
use of electricity. E.g. pre heat oven before cooking.
* Never invest your entire income in one scheme or at any one place.
* Make adequate investment for your future.
* Inquire about various schemes & ways available for child's future
* Chances of fraud & insolvency are higher in private firms/company
than in any government scheme/policy.
* Various investment options:
||NSC, KVP, PPF...
||Gold, silver, diamond...
||Shares, debentures, bonds...