Indian Economy is slow; But spending is same. Saving buster to all Young Indians

Indian Economy is slow; But Young Indians spending is same. Saving buster to all Young Indians

Indian economy is very slow and Rupee against Dollar has touched its overall low, Gold is shining at its all-time high, Petrol and diesel prices are running against Onion prices. Even a bottle of beer became expensive. Stock markets are trading low, bank interest rates increased. Its tough task for young and middle class Indians to lead an enjoyable life with everything inflated except your salary.

Let’s see how we can improve your saving with same lifestyle:

1. Movies: Instead of hitting multiplexes and malls for a movie, better is to watch in an old single screen maha palace with same AC facilities. Example: If a couple is going to watch a movie in multiplex, ticket price is INR 350 inclusion of taxes on average, additional parking and snacks account another INR 150. Overally it is 500 for two. Where as in single screen price of tickets and snacks is half compared to Multiplex. So saving here is almost half.

2. Smart Party: Planning to go a Pub. Normal entrance charges is in range INR 200-1000, we can save a lot in entrance fees where in few places its free in weekdays and few offer discounts if you take your girlfriend along you, few if your follow their dress codes and more. So, Act Smart save Smart.

3. Expensive Dines: Planning to take your family to a restaurant, so you need to be ready to pay a lot in AC dines like service tax and more. It’s advisable to bring whatever you want to have at dined as parcels and can have happily at home where there is no need to pay service tax, other charges, tip and more. Here you are going to even save fuel.

4. Power Consumption: We are habituated not to stop lights, fans and more at home even though we not need them. Which overally affects you in paying huge power bill. It’s advisable to use LED lights, high stared appliances to cut your power bill. Also use them when you need and when you are in that area. For Example: If you are in Bedroom, Use a light and fan instead of using them at entire house. Other simple tips include turning the lights off when you leave a room.

5. Street Food and Home Food: In this current generation, mostly all working employees prefer to get parcels at night, i.e., curries and preferring canteen food in day time. It’s advisable to have cooked food from home which is healthier and cost saving. Even trying road side food like pav bhaji, cholle, kulcha, tikkas is preferable instead of going to a dine which can be easily possible for people staying in Delhi and Mumbai because of options there.

6. Grocery Spending: Purchasing grocery has become very expensive now days. Need to spend smartly in grocery shopping. It’s always better to buy in small amounts depending on your consumption instead of purchasing heavily and storing them. Probably the prices may deep or the items may damage so less size packs more advisable. It’s always better to purchase in a whole sale shop instead of going to retails chains where they include service taxes on bill. 

It's always advisable to think smart before you spend and save something before you start spending out.

Finally "Economy is half the battle of life; it is not so hard to earn money as to spend it well", so think intelligently and act smartly.

Note: This are completely my views and not targeted on any individual or family.

Thanks for your support.