When it comes to cutting costs, consumers always look at the big stuff. Postponing that vacation, not buying a new car or the new sofa or postponing the kitchen remodeling.
But it's often the little things that can make an even bigger difference. For instance,Gautham says he saved Rs.1,500 a month just by kicking his daily Pepsi habit. That's a savings of Rs.18,000 over a year.
We calculated the savings you might see from making various adjustments over a period of one year, from car pooling to work, to drinking a cheaper cup of coffee, to taking a quicker shower. If you do all the things we suggest here, you could save at least Rs 57,000 over a year's time. That's real money.
So, what lifestyle change can save you the most cash?
How much can you save over one year if you...
1) Reduce your home's water heater usage to the minimum
Savings could go upto Rs.3,000 to 5,000 per year.Turn off your lights when not in use. You could set your air conditioner timer to shut off at 4.30 a.m and save some heavy extra bucks too!
2) Brew your own cup of coffee instead of picking up a latte at Coffee Day or Barista?
Rs.15,000 – 20,000. A tall latte at the local Coffee Day will run you about Rs 50 a cup, or Rs.20,250 a year, if you go there every day. If you brew your own at home for Rs.2 or less per cup, you'll pay nearly Rs. 700
3) Prepare your own lunch rather than buying out?
Rs.20,000 – 80,000. If you make lunch from last night's leftovers, you can avoid spending an extra Rs.50 to 200 a day,
4) Hit the water cooler at work instead of buying bottled water?
Rs.4,200 If you can avoid paying for the bottled stuff (at Rs 14 abottle, you can save at least Rs.84 for each six-day work week. Yet one more reason to gossip around the water cooler.
5) Carpool or work from home one day a week instead of driving into the office each day?
Rupees 6,800 Let's assume a petrol price of about Rs.55 a litre Let's also figure on a daily round-trip commute of 30 kilometers and that a full-size car can get about 12 city kms to the litre. An employee who logs on from home or catches a ride with a co-worker a minimum of once a week can avoid spending at least Rs 133 at the pump a week.
If you aren’t carpooling, it might be a good idea to drive less, and consolidate your trips to pack in more per trip. Planning your visits and routes can save a bundle.
6) Polish your nails at home instead of getting a weekly manicure?
Rs-1,200 -4,200. Skip the salon and buff your nails yourself, and you'll pocket Rs.100 - 350 a week.
7) Order a film from a movie-rental service instead of going to the nearest multiplex?
Rs.2,000-5,000 This assumes that a movie ticket is about Rs100 these days (yes, such places exist. It can be more like Rs.120 or up in many places). It also assumes that you go to the movies twice a month, and that DVD services used are competitive
More benefits: The flat monthly DVD service fee often includes more than one rental a month, and the popcorn you pop may be cheaper and healthier than the stuff at the local theater.
8) Use compact fluorescent bulbs in your lamps and light fixtures instead of the old incandescent type?
Rs 3,000-5,000 If you replace just one incandescent light bulb with a compact fluorescent one, you'll save Rs 300 in electricity costs over a year, according energy saving studies. If you've got 20 bulbs in your house, those savings will start to look even brighter.
Minimum Yearly Savings:Rupees 57,000. And if are like Gautham, add another savings of Rs,18,000 per year.
And ONE LAST THING: Avoid processed foods: They can be more expensive and less healthy. The rule of thumb is that if can pick it off the ground or pluck it off a tree ,it must be good for you.
Track Every Expense
Financial advisors say the best way to control your spending is to know precisely where all your cash is going each month. There are several options: Make a budget; keep a spreadsheet of all spending; or stick a paper on your kitchen wall and write everything down.
Some other ways to save big money are:
Vacation in the off season. You’ll be surprised how much nicer and cheaper it is to be far from the madding crowds of the peak season. You can save even more if you have nice friends to stay with.
Don’t buy too much insurance. Life insurance is not much use if you don’t have dependents, and is a lousy way to grow your money. Really shop around for car and health insurance and max out what your company offers you
You could also skip the Gym annual membership( unless that’s where your social networking is!) – look for alternatives – home exercise,joggimg or signing up for individual segments at the health club like yoga and aerobics.
Look at your phone bill carefully and look at the unnecessary costs. You could save large amounts every year if didn’t fall for every caller tune, or optional extra the phone company offers! You could also reduce your cable plan for only those MUST have channels (the added benefit being that the kids will fare better in their studies).
Find free entertainment. There’s plenty of top quality cultural happenings in the city which are free of cost (and beats watching TV).
There are plenty more ways to save money! Remember when you live within your means, you live peacefully!
Have a Happy Life!
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