| le="font-family: Georgia;">1. First things first - Create | | | | Auto-Rickshaw. It's not only free, it's also healthier! |
| a budget. | | | | 6. Save on Electricity |
| You can make better decisions if you know where | | | | This is another money-guzzler particularly since the |
| your money is going. This would help you save | | | | scorching summer is here and it is impossible to stay |
| money quite easily. At the beginning of every month, | | | | without the AC. So how can you save on your |
| draw up a budget taking all your expenses into | | | | Electricity bills? |
| account. Take charge of your finances by | | | | Turn off lights and fans whenever you leave a room. |
| determining your expenses and deciding where your | | | | Turn off your computer when you are not working. |
| income should go. After listing out all your regular | | | | Use Water Heater (Geyser) and Microwave Oven |
| expenses, you can set aside some money for | | | | minimally - both are high-power devices that draw a |
| entertainment and eating out. And always stash | | | | lot of power. These small savings will slowly, but |
| away some money for emergencies. Overall, keep | | | | surely, add up. |
| your living expenses low. | | | | If you are planning to buy an AC to beat the |
| 2. Reduce your debts | | | | summer, choose one that has a certified Star rating |
| Analyze any debts you may have. Pay off those | | | | for low electricity consumption. If you already have |
| with the highest interest rate first - usually your | | | | an AC at home, have it serviced regularly. Did you |
| credit card expenditure. Pay a lump sum on your | | | | know that cleaning the AC filters would do wonders |
| credit card or close the outstanding amount, and | | | | to improve the efficiency of your AC? You can do it |
| reduce any other loan repayments. | | | | yourself, but if you don't know how, have a certified |
| Always give higher preference to closing the higher | | | | service professional to do it first. Watch and learn so |
| interest rate loans first. If you have a good credit | | | | you can do it yourself the next time. |
| standing with your bank, bargain with your bank to | | | | Turn off the main supply to your TV when you are |
| reduce your interest rates or to adjust EMIs so they | | | | not watching the TV. Turning it off with the Remote |
| don't pinch you. If your bank refuses to do either, | | | | is not enough as your stabilizer would still be drawing |
| look out for alternatives. Several banks offer transfer | | | | power all night. If you haven't done it yet, now is the |
| of outstanding amount on credit cards or loan | | | | time to change those old incandescent bulbs and |
| transfers. | | | | start using energy-efficient lights (CFL). |
| Bear in mind that loans like Home loan actually have | | | | 7. Save on Food expenses |
| Income Tax benefits associated. So, do some | | | | Reduce your expenditure on eating out. Trust me, it |
| savings-vs-expense analysis before closing that loan. | | | | can be fun to have the whole family take part in |
| Always put money away for a rainy day and make | | | | cooking on the weekends! Try out new dishes right |
| sure you have a cushion of cash savings. Do not dig | | | | at home with your spouse and kids - not only will it |
| into this entire amount to pay off your existing loans | | | | be fun, you would also end up saving more than half |
| - it is in your safety to have some money stashed | | | | the money! If you do eat out, check for early |
| away. | | | | evening offers, buffet deals, new restaurants with |
| 3. Cut your spending | | | | specials and hotels that offer discounts. |
| Make this a priority. Think whether you really need | | | | Oh, and start taking your lunch to work. Not only |
| that new flat-screen TV now. Maybe going on your | | | | would this save you money, it is a much healthier |
| dream overseas holiday can wait one more year? | | | | alternative! |
| Making sacrifices this year and living on a tighter | | | | 8. Shop right |
| budget will leave you much better off in the long run. | | | | When you go shopping for Groceries, plan your |
| Cut down on frequent visits to the local Multiplex. | | | | meals, make a list and shop to the list. If you stick to |
| Instead, rent a movie from your nearby rental store | | | | your plan and your list, you won't spend money on all |
| and watch it at home, rather than spending hundreds | | | | that food (particularly, junk food) that looks good but |
| on a multiplex! | | | | that you don't need. |
| 4. Slash your Mobile and Internet bills | | | | Avoid disposables, and use re-useables instead - |
| Save on mobile phone usage. Often, your mobile | | | | disposables are a waste of money. Instead of paper |
| connection plan might come with low-cost add-on | | | | towels, use washable cloth dish towels. Instead of |
| services like - National Roaming, STD and/or ISD | | | | paper cups and plates, just use your regular dishes. |
| connection, GPRS etc. Analyze the services you really | | | | Use cloth handkerchiefs instead of buying tissues. |
| need and cancel off unnecessary ones - there is no | | | | Spend a few minutes to think about such small |
| point in paying monthly rentals for services you don't | | | | changes that you can make to your shopping |
| really use. | | | | behaviour that can save you money. |
| Also think about downgrading your mobile connection | | | | Look for good deals before you go out for Shopping. |
| plan. Do you really need the Rs.499 rental post-paid | | | | Online Resources like DiscountsVu can help you find |
| connection? Maybe you can switch to Rs.299 | | | | the best deals in the market. |
| connection instead? If you are an user with a | | | | 9. Avoid using Credit Cards |
| good-standing, you should not have a problem in | | | | Lock your credit cards away, and fight the |
| getting your Service provider to make these changes | | | | temptation to use it. It would certainly be tempting |
| for you - for free. | | | | and easy to use Credit Cards when you are short of |
| Do the same for your Internet connection. Think if | | | | cash - but it is a fact that you lose track of your |
| you can downgrade your Internet plan - or find a | | | | expenses when you use credit cards. Use cash |
| cheaper service. If you are going in for a new | | | | instead. Go to the ATM, withdraw some money and |
| connection, compare all services available and bargain | | | | set that aside for household expenses. Try to limit |
| to get the cheapest deal available. | | | | your expenses within that amount. And when you |
| 5. Save on Travel | | | | find yourself short of cash, do NOT use your credit |
| Whenever possible, use public service for travelling. If | | | | card - go to the ATM again. If anything, all these |
| that is not possible, you can try various alternatives. | | | | extra trips to the ATM will be a deterrent and might |
| Does your company provide commutation to and | | | | actually reduce your expenses!! |
| from work? Opt for it. It could be way cheaper - and | | | | 10. Save on Gifts |
| more relaxing - than driving your car to work each | | | | Always be on the look out for good deals. Save by |
| day! If using Company travel is not your cup of Tea, | | | | buying things under sale - for example, while shopping |
| why not choose to Carpool or share a Bike to work? | | | | for yourself, choose a 'Buy 1 Get 1' offer on Clothing. |
| Splitting costs even two-way would cut your | | | | Keep 1 for yourself and gift the other on your |
| expenses by half! | | | | friend's birthday! |
| Save on Fuel - If you have been putting off on | | | | Create a collection of original gift ideas. Present your |
| getting the LPG Conversion kit for your car, now is | | | | dear ones with hand-made gifts, a personally |
| the time to do it. Change from Petrol to LPG version | | | | embroidered handkerchief, fresh homemade pickles |
| and see for yourself how your Fuel expenditure | | | | etc. They will appreciate your skill as well as efforts |
| reduces drastically! By the way, take that walk from | | | | and you will save a lot of money. |
| the Bus stop to your home rather than taking an | | | | |