As the prices of everyday goods rise, many families find nothing left at the end of the month, with spending outrunning income. A Banglavision report says a little planning and a few changes in daily habits can still let a household on a limited income put some money aside.
The first tip is a budget. At the start of the month, work out income and likely costs, separate the essentials and spot unnecessary spending. Some find it easier to budget from the 5th of one month to the 5th of the next, which makes overspending easier to catch.
Travel can save money too. Walking short distances instead of taking a rickshaw saves the fare and adds a daily walk, and small daily savings add up by the end of the month.
Restraint in shopping matters. Rather than buying something just because you like it, ask whether you really need it, and check where the same item is cheaper. Long-lasting staples can be bought during sales, and prices and coupons compared across online platforms, but a discount alone is no reason to buy what you do not need.
The report also advises eating out at expensive restaurants less often and not using a credit card for unnecessary purchases, since unplanned card spending later turns into debt.
Finally, make saving a habit. Put aside a fixed amount every month, however small, ideally as soon as pay arrives. An automatic transfer to a savings account makes regular saving easier still.
Source: Banglavision
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