Tips on How to Live in India If You Don’t Have Much Money
With a few exceptions, pretty much everyone will at some point experience some trouble with money, especially in times of recession. You might think you’re secure at the minute, but nothing is definite, and thinks don’t always last forever. Preparing for money troubles in the future isn’t being negative, it’s being smart. You never know when something could come along which will leave you struggling with your cash, and it’s therefore important to be prepared. In case you ever do experience problems with your money, here are some tips on living on a budget.
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Look out for discounts
A discount on any item is great, but if you can find discounts on those essential items like groceries and toiletries, that’s even better. Shopping online is a great way to get discounts because you can search for discount coupons and codes before you buy, and knock some money off the total price at the checkout. Many companies offer discounts on product combinations and grouped products, as well as single products. Don’t feel ashamed of shopping for discounts and offers, because they can save you a huge amount of money in the long run. There are tons of online retailers and merchants in India, such as Tradus, Infibeam, Inkfruit, Ebay, Indiaplaza, Flipkart which run deals through the year, you can also grab food discounts from sites like pizaa hut etc
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Start hoarding
Prices can often fluctuate along with the economy, and therefore you might find yourself paying one price for an item one day, then paying twice as much for it the next. If you can’t afford to keep up with price increases, wait for the prices to drop, then stock up on items which wont expire quickly and keep them for use in the future so that next time you urgently need them you don’t have to pay an extortionate price. Things like flour, sugar, toiletries and rice are great for hoarding, because they last a long time and are handy for everyday use.
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Get rid of your credit card
From now on, your credit card is your enemy. It might be great for those spontaneous shopping sprees, but it will cost you big time if you’re experiencing financial trouble. Instead, you should replace it with a debit card. That way you can still enjoy the simplicity and ease of using a card instead of cash, but you’ll only be able to spend what you have, and you’ll get used to noticing the difference in your bank account after you make a purchase. No more overspending for you!
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Get a savings account
Although it is hard to resist the temptation to spend money, especially on luxuries like new clothes, trips out, food, drinks and other treats, it’s important to put some money aside each month so that you have something to turn to when you’re in need, and so that you can afford those much needed luxuries like holidays. Opening up a savings account is a good way of putting money aside, because by doing this you can’t get to it until you need it. This means you won’t be tempted to spend it, and you’ll only be able to spend the money that’s available to you, so you won’t be spending as much as usual.
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Reward yourself
Saving money doesn’t have to mean avoiding all of life’s small pleasures, and sometimes when you’re trying to avoid treats and days and nights out, saving money doesn’t seem worth it. Instead of completely avoiding the finer things in life, create a rewarding system. Every week, try to calculate how much money you have saved. An estimation will do, as long as you have a rough idea. If it has been a successful week for savings, then you can reward yourself with a small treat. Go out with your friends, or treat yourself to a luxury bar of chocolate.
When times get tough, living on a budget can be a difficult and stressful thing to have to do, but it’s something that a lot of people will have to go through, and it really does help to prepare yourself. But don’t think it’s all doom and gloom; when you really get into it, you’ll see your savings increase more and more each week, and you might even find yourself with more money in your savings to spend as you please than you had before.
