Popular Posts

Tuesday, October 30, 2012

How to manage on a shoestring budget

Money behaves oddly, like a frisky goat. One thing is for sure prices go up and never come down, but the older one gets the income starts to shrink. Children may or may not contribute.

 How to manage on a shoestring budget? 

Here are a few tips:


  •  make a random list of necessary expenses.
  • make a second list  prioritizing the items.
  • estimate the expenditure against each, the total is what you just have to spend every month.
  • In the priority list are electricity, cooking gas, vehicle fuel if you have a car, transport , education, municipal taxes, income and wealth tax( not really applicable here because I presume you don't earn enough to be taxed). After these cant-do-without items ,list food and clothes. These are essential too but one can save on expense here by doing without some stuff.  
  • Avoid loans as these actually increase the burden and the headache. 
  • Remember it is better to go without than to borrow.
  • Don't drink
  • Don't smoke
  • Keep a little sum of money aside whenever you can.
  • Go window-shopping, but don't step inside the shop.
  • Walk when you can and avoid transport.
  • Avoid using the car frequently - you will contribute to a greener fresher world.
  • If you have a patch of land grow your own herbs, veggies, fruits. One can have coriander,mint, chillies etc in pots.
  • If you live in a large house and security is a problem keep  a couple of strays as pets, this is considerably cheaper than keeping a security guard or durwan. Dogs are loyal and loving.
  • Use cooking oil sparingly, make preserves of veg and fruits  when they are in season and consequently cheaper.
Try these tips now.More next time. Let me know if you have any ideas on how to beat inflation.

No comments:

Post a Comment