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Monday, December 19, 2016

These Daily Savings Could Make You Rich Later...!

These Daily Savings Could Make You Rich Later...!

Tweaking your budget can go a long way in saving hundreds every month. While some steps will help save a few rupees, others will shave off thousands from your annual bills. 
Mr. Madhusree Mallik tells you how to save Rs. 9,000 a month or Rs. 300 a day. 

ELECTRICITY ..!

Allow air circulation around refrigerator. 
Do not expose it to direct sunlight. Do not stuff fridge full and defrost regularly. 

Place outdoor unit away of the air-conditioner away from the sun. Clean filters. Keep doors closed and curtains drawn when AC is in use. 

Turn off switch when a device is not in use. 

50% is the amount of power you can save by planting trees to shade your home. 

5% is the power saved by setting AC thermostat at 25 degrees instead of 22. 

15% is the power saved by reducing temperature of water heater. 

POTENTIAL MONTHLY SAVING: Rs 500. 


TRANSPORTATION..! 

Use public transport, shuttle buses and car-pool at least once a week. 

Maintain optimal tyre pressure, don't change gears too often, clean out junk lying in car and switch off idling engines. 

Rs. 800 is what you save in a month by using public transport twice a week. 

Rs. 500 is the monthly saving by optimising fuel usage. 

POTENTIAL MONTHLY SAVING: Rs. 1,300. 


GROCERY 

Fruits and vegetables are best bought at weekly markets, which are 10 to 12% cheaper than supermarket or thelawala. 

Buy non-perishables in bulk and save 10 to 12% on your bill. Rs. 7-10 is what you save per kilo buying loose cereals and pulses instead of packaged variety. 

Rs. 20-100 is the saving per product by buying store brands instead of high-end brands. 

POTENTIAL MONTHLY SAVING: Rs. 1,000 ON A BILL OF Rs. 8,000. 


ENTERTAINMENT 

Instead of going out to eat, order in through discount apps. 

When going out in a group, have the drinks at home. 

Watch movies over weekdays instead of weekends. 

Rs. 150 is the difference in cost of one movie ticket over weekend and weekday. 

Rs. 800 is the difference in cost of a meal for four in a restaurant and meal for four ordered in with discount apps. 

POTENTIAL MONTHLY SAVING: Rs 2,000. 


LATTE FACTOR ...

Cut down on work lunches and snacks. 

Ditch smoking, or at least cut down on the number of daily cigarettes. 

Rs. 20 can be saved daily by cutting down on tea, snacks and bottled water. 

Rs. 70 can be saved daily by carrying food from home. 

Rs. 50 can be saved daily by cutting down on 5 cigarettes. 

POTENTIAL MONTHLY SAVING: Rs. 3,300. 

COMMUNICATION ..!

Opt for pre-paid mobile connections for older children and post-paid for adults. 

For international calls, use Skype and WhatsApp. 

If you are using the Internet at home to just check mail or read articles, do not opt for unlimited plans. 

POTENTIAL MONTHLY SAVING: Rs 300. 


PAY RIGHT ...!

Use e-wallets to avail of discounts, cashbacks and other incentives. 

Pay grocery, Internet, DTH and mobile bills through e-wallets. Also for taxi rides, movie tickets, online shopping, food orders, hotel bookings and flight, train and bus tickets. 

POTENTIAL MONTHLY SAVING: Rs. 600. 


TOTAL POTENTIAL MONTHLY SAVING OF Rs. 9,000. 

If This Money Is Invested In a Scheme That Earns 9% Returns. 

In 5 Years You Will Accumulate Rs. 6.8 Lakh. 
In 10 Years You Will Accumulate Rs. 17 Lakh. 
In 15 Years You Will Accumulate Rs. 33 Lakh. 


Source: http://economictimes.indiatimes.com/
These Daily Savings Could Make You Rich Later...! Reviewed by S. Chitra on December 19, 2016 Rating: 5 These Daily Savings Could Make You Rich Later...! Tweaking your budget can go a long way in saving hundreds every month. While some ste...

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