Cutting Costs -"Effective Shopping"

-
        World of Finance by M.Vijaya Sai


Think twice before you act. Here I mean we all must plan well in hand before we spend.This could save our money,resources and energy.These savings can be used elsewhere when it is necessary. Doctors often say "Prevention is better than cure" same thing holds good with Financial planners "Precaution is better than a trap". Generally a middle class Indian spends a lot without proper planning thinking that he has enough resources but at the end of month he generally falls short of funds. Here we will see how we could save some of our expenditure and save more while shopping and day to day activities.


1. Visit the point of Salas and evaluate the alternatives in the product line.
2. Avail discount coupons on shopping. eg: Pantlooms gives discount coupons on every purchase for card holder.
3. Set a realistic budget aside and stick on to it during your shopping.
4. Budget planning directs and makes provision for your spending and keeps in track of all your expenses.
5. Do commitment and make a few lifestyle changes that would change your spending pattern.
6. Think more about your basic needs. (Health and Security)
7. Set aside a part of your monthly income or budget towards food,transport,shelter and clothing.
8. Record your spending so that you have a visible track where you spend each penny on weekly or monthly basis.
9. You may be cautious about bigger bills or liabilities like mortgage and loans taken. but, it's easy to lose track of incidental spending you do.
10. Keep track of all your sundry expenses you would be surprised to see yourself how much you spend on movies,eat outs,video rentals and many small items.This could add significant saving each month if properly planned.


11. Look for fun, inexpensive ways to entertain your family.
12. Make a clear list of your shopping requirements and bring only required amount to buy those items only so as to prevent you from buying things that are not important.
13. Compare prices and don't limit your options to one shop alone.
14. Save money on electricity. Turnoff all appliances that are not in use.
15. Compare your monthly electricity bill, Internet bill, household expenses on regular basis.
16. Make habit to pay early to avail early payment discounts and avoid unwanted dues.
17. Do seasonability shopping when you can get those items for best prices.
18. Remember you have to buy only things that are important and needed based on your priority of requirement.
19. Make sure you stick on to your budget amount while shopping.
20. Use public transport as much as possible and try to minimise fuel costs.

Hope by following above points. This act could enhance our saving efficiency and preserve our resources for some other important requirements.

Share
|




Comments

optiontips.in said…
This comment has been removed by the author.
April 27, 2011 at 3:35 PM
Nifty direct said…
Market Trading Tips

you have mentioned very useful and profitable message message for us
Thanks
Stock Futures
June 17, 2011 at 2:02 PM
Post a Comment

Popular posts from this blog

Arbitrage - "A new trend in stock trading"

-
Arbitrage Arbitrage is the process where there is simultaneous purchase and sale of an asset in order to profit from a difference in the price of the similar financial instruments , on different markets or in different forms. A person who engages in this type of trading is called an arbitrageur. The term is applied to trading in financial instruments, such as bonds, stocks, derivatives, commodities and also currencies. Just an act of buying a product in one market and selling it in another for a higher price at some later time is not arbitrage. Arbitrage is when the transactions occur simultaneously to avoid exposure to market risk, or the risk assumed that prices may change in one market before both transactions are complete. In practical terms, this is only possible with securities and financial products which can be traded electronically.  For example; this type of price arbitrage is very common, but it ignores the cost of transport, storage, risk, and other factors. "True&
Read more

Factors affecting Commodity Market

-
The Indian economy is witnessing a mini revolution in commodity derivatives and risk management. Commodity options trading and cash settlement of commodity futures had been banned since1952 and until 2002 commodity derivatives market was virtually non-existent, except some negligible activation an OTC basis. Now in September 2005, the country has 3 national level electronic exchange and 21 regional exchanges for trading commodity future derivatives. As many as 103 commodities have been allowed for derivative trading. In this article we will discuss the various. as Modern Commodity market The modern commodity markets have their roots in the trading of agricultural products . While wheat and corn, cattle and pigs, were generally traded using standard instruments in the 19th century in the United States, other basic foodstuffs such as soybeans were only added quite recently in most markets. For a commodity market to be established there must be very wide consensus on the variations i
Read more

Home Loan Solution for Early Birds-“STEP UP LOAN”

-
        World of Finance by M.Vijaya Sai A famous quote always reminds us –“Start Early, Drive Slowly and Reach Safely”. Same thing holds good for early birds (who are in beginning of their carrier) whose dream is to build a home of their choice. But often these early birds fall short of funds that could build their dream homes. For those who fall in this category. Step up loan is your recipe. A famous quote always reminds us –“Start Early, Drive Slowly and Reach Safely”. Same thing holds good for early birds (who are in beginning of their carrier) whose dream is to build a home of their choice. But often these early birds fall short of funds that could build their dream homes. For those who fall in this category. Step up loan is your recipe. What is this Step up Loan? Step up loan is a banking solution that helps you to plan and leverage your future expected salary increment to increase the quantum of home loan you avail at present. In simple words “You need
Read more