Financial concerns is slowly becoming the major reason for clinical levels of stress, depression and even indulgence in addictions. The increase in prices over the last few years have made people more concerned about their spending and put a sudden halt at long term plans. With increased pressure of EMI's, rising prices and lack of increase in wages the mind is constantly thinking on how to save money. Hereby 15 tips on how money can be saved through effective utilization of resources.
1. Plan for what is to be cooked right through the day. Basic boiling of vegetables, precooking can be done together. Will save gas and precious time.
2. Don't just dump leftovers. Particularly vegetables cooked in the morning if not fully used can be kept in the fridge and slightly modified for dinner. Many a time the beans or the brinjals of the morning with a little onion, tomato and masala go quite well with the rotis in the night.
3. Keep all your spoons dry and clean. This can save your rice, wheat, dal and other stored food items from bugs and insects. Saves your groceries from wastage, apart from being hygienic.
4. Make a shopping list before going out shopping. A shopping list will help you stay focussed and in control of your purse strings. Guaranteed!
5. Leave your credit card behind. Sure shot way to ensure you don't overspend, at least never more than what you have.
6. If you are taking kids out shopping, feed them something before stepping out. Will save you a lot of money buying snacks on the way to keep them busy and a lot of embarrassment at the shopping place.
7. Understand the costs of cooking fuel. Most kitchens use a combination of cooking gas, electricity, kerosene, wood (???!!! not among readers of this column I guess). In most cities electricity costs can go completely out of control if it crosses certain threshold levels. You might have to carefully optimise use of the induction stove, microwave oven etc.
8. Those fans running and lights burning bright in unoccupied rooms / bathrooms, is money being flushed down the drain. A reminder near the door that says, "Have you switched off the light (with a winking smiley)" may do the trick.
9. LED lights, power saving equipments are god's gift to mankind, really! Use them.
10. If you have two children in the house — remember to utilize the elder one's outgrown clothes, toys, books, furniture. These are used for short periods and thrown away and will serve the purpose fine. Your child will not know the difference.
11. For older children, give them an allowance. They will learn to manage their expenses within limits and you can keep within your budgets.
12. Plan for important events in their life too — school, college, post graduation, marriage etc. If you save regularly early on, you can avoid borrowing or selling key assets later.
Personal care and grooming
13. Do whatever you can at home — like you may not be able to colour or trim your hair at home, but you can definitely shampoo it at home. Most grooming these days can be done with "Do it yourself at home" products.
14. Even the fanciest salons and spas give offers and discounts. Ask for them. Collect coupons and use them.
15. If you can time your important purchases to coincide with offer seasons like monsoons and stay clear of festival times, you may be in for a lot of luck with great deals and discounts.
Although the above may look too basic, however they are time-tested and effective. Individually they might seem very little saving but at the end of the month its turns out to be a considerable effective amount.
(This article was forwarded by a friend.)
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