A friend of mine earns a salary of less than INR 20000 per month. It is a matter of fate and circumstances. I know that he is working hard.
But it is not too less to count as menial.
He had difficulty making ends meet. So, I’m writing this article out to help him plan his finances and lifestyle better.
Before moving on, let’s understand how to divide our monthly expenditure.
Put into two heads.
Needs and Wants.
Needs are those which we need for survival such as food, clothing, and shelter.
Wants are those which we chase for entertainment. E.g. you can survive without watching a movie, still you chase the first day- first show.
1. Get a one room PG.
More rooms equal more rent. If you have to live alone, one room is all that you need.
You’ll have less things to maintain. They’ll take less of your time.
2. Move to a student area.
Usually, student areas have the lowest rents. More students from different parts of the country migrate to further their education.
Also, look at the ambience and neighbourhood.
Such thrift has lower value if you live with perverts and vulgar people.
The right company will take you places.
Sit around and talk to smart and ambitious people.
3. Find an unfurnished room.
The rent of a room also includes the furniture and amenities. You have to opt for a nice, clean, and painted room; but unfurnished.
The lesser the furniture and lower the amenities, the lower the rent.
Make sure that it is clean. Hygiene is always a non-negotiable.
When you have a limited space, you should work on making it more usable and decongested.
Even Vastu Shastra prescribes for a prana energy flow. Likewise, Feng Shui also prescribes for the flow of Chi or a balance of Yin and Yang energy flow.
For this; discard trash, decongest the space and allow for sunlight and ventilation.
4. Sleep on floor.
When you are living alone, a bulky bed is not required.
You can spread the mat on the floor and accompanying it with a bedsheet will make enough of a bed for you to sleep on.
Or there are foldable mattresses that you can wrap up the next morning.
If sleeping on the floor is not your thing, you can invest in folding beds or different types of cots.
Such techniques free up your room in the next morning.
5. Save electricity.
Opt for a non-AC room.
For the AC room, your landlord will take extra rent even in winters.
So, you can have a non-AC room. Then, buy or rent a cooler or table fan for yourself.
Instead, you can insist on a room that gets ample of fresh air and sunlight.
In this way, you can save your room from moulds and algae. A well lit room also saves you from turning on lights in daytime.
6. Say no to any household help.
When you have an unfurnished room, you have nothing actually occupying the floor.
This makes the room pretty easy to clean.
Keep a broom and mop in your washroom or balcony. Count using it as a daily 15-minute workout.
Use the few bucks that you save in cleaning in something more useful.
If you must a maid, you may call her weekly. Like, toilets are pretty gross to clean.
Sometimes, landlords also provide such domestic helpers. So, no issue remains in that case.
7. Book a tiffin or mess for meals.
When you subscribe to a tiffin or mess for meals, your expenditure on food declines.
But I always suggest you to never compromise on your diet to save money.
Always take a balanced diet. Eat healthy food to remain healthy. Always stay full of energy and enthusiasm. Respect your food.
If you have to stop something, stop eating fast and junk food.
8. Invest in fitness.
Regardless of your financial position, investing in fitness is always affordable.
You can join a gym the way it fits your budget.
If the available options are not suitable to your time or money, you can always do Yoga and home workouts.
Go for a morning or evening walk. You’ll feel fresher. Plus, you’ll find a greater mental clarity by walking.
9. Get a life.
Man is a social animal. You need to have your own sort of social life.
You can both have a social life and cut meaningless entertainment.
Have one source of social life which also gives you huge networking opportunities.
Making new friends get you new ideas and builds values.
Recreation as a community is cheaper than doing it on your own. Being in a community lets you share many resources that would otherwise be expensive.
Take gym as an example. If you were to buy all the equipment you need to work out, how many years’ fees you’ll exhaust?
Joining a library gives access to read many books that are otherwise expensive.
Play sports in a public park. You do not need to buy a land for that purpose.
Travel in public transport.
10. Buy affordable clothing.
Stop chasing brands. Branding is a psyop.
Consider your own looks and fitness. If you are fit and handsome, you’ll look better in a simple tshirt than a fat man who is wearing some expensive one.
Also, you needn’t buy clothes every day.
Buy two or three casual pairs for daily and few pairs for some occasions. You’re all set.
Invest what remains.
11. Look for free alternatives everywhere.
Kill all those hobbies and interests that cost money. And I mean it.
Some interests and hobbies are too expensive to continue.
Are they adding any value to your life?
Are they improving your financial position?
If the answer is no, drop or postpone them until you are well off.
You can look for free alternatives everywhere. Books are free on Archive.org.
Instead of streaming OTTs, watch movies, series, and documentaries available on Youtube.
The list goes on. You’ll find free alternatives to everything, given you put some efforts in finding. If you have access to internet, you have got everything. We are not living in 1990s.
12. Production over Consumption.
Try digital detox. Being too addicted to technology is consuming your prime time.
Doomscrolling is useless. Instead of constant content consumption, try creation.
Create content and digital products. You can put your knowledge and skillset to action.
13. Invest the rest.
If you apply all these steps, you’ll save a lot of money. You’ll think where did all your money go before.
You can put your money to action. There are many PPF and Post Office Schemes to start with.
If you are good with selling, there are plenty of small business and trading ideas.
Let me know if you’d like to have my suggestions. This may form the topic for my next article.
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