Recession has become the talk of the whole world. It’s the latest debate topic on TV and News papers. People are loosing their jobs and being depressed. According to a survey, suicide ratio is increased from last two years and it’s still increasing due to business losses and share market crash. Recruitment process is almost frozen from last year. Indeed, it’s tough time for the whole world.
So, let’s get together to think how to face this global threat and defeat this problem with the help of few solutions with smiling faces. Here I have few tips which will definitely help you in this tough period, so, here they are.
(1) Home Budget
If a person is earning Rs. 20,000 to 75,000/- per month, he /she should make one monthly budget including expected fuel bill, home rent or home loan installment, gas bill, grocery bill, maintenance bill etc. Once it’s made, person should follow it strictly without any mistake. So, it will control all the unnecessarily any extra expenditure, which is of no need indeed.
(2) No More Loans
A person has to think twice before demanding or taking any loan. Because one should pay for that for few decades if it is like a car loan or home loan. If it’s most important then you should at least check for the interest scheme. Try to purchase things which are affordable for you, it’ll decrease your expenses. For an example, mobile and TV is one of the necessity for people. So, in market the prize range starts from Rs. 2000 to 1,00,000, now it’s upto you to decide what to buy and how much you can spend on it. So, choose your equipment according to your requirement and be a smart consumer.
(3) Enjoyment Budget
We all love to watch movies on first day first show in Multiplex. Approximately one person requires Rs.300 including all snacks and soft drinks, etc. It is better to avoid frequent visit in Multiplex and you can watch same movie on DVD at home. This way you can save money. It’ll be more enjoyable to watch movie with whole family with popcorn and soft drinks. In modern society, now there is a trend to take dinner in hotel in weekends. It’ll cost up to Rs. 500 to Rs. 1000 once in a week. So, it’s better to cut in from your budget and cook it at home according to your taste and mood.
It’ll save your much money than before. Believe me; you will be more satisfied with home made food instead of spicy food of hotel which is not healthier always. Last but not the least, we all are enemy of our body as we are drinking soft drinks so much in summer, it becomes count less for many people. It contains of synthetic flavors and dangerous essences. How can you add it in your body which is not good for your health? Water is the best liquid available in whole earth. One can drink fresh juices also to replace harmful synthetic drinks.
(4) Use Debit Card instead of Credit Card
There is a difference in these two, debit cards are not used in loans like credit cards. When you use a debit card money is taken out from your bank account. So, if you don’t have money in your account, it’s unavailable. So, this gives people huge dose of reality and helps control spending. You will very easily see your balance dropping when you do use it. With credit cards, you don’t have to pay the full amount when the bill comes, you can pay minimum, like Rs. 500-1000, then you will be caught in financial trouble. So, be smart, use debit card instead of credit card to control your expenses.
(5) Creative Thinking
If someone lost his job, do not get depressed. God has given us this precious life; we have our body with sharp brain and lots of courage in our heart to face any problem that occurs in our life. We are source of infinite energy. Believe in yourself, in your dreams. Try to get job in other field if you’re not able to get job in your field. If you were caught in wrong job earlier, choose your dream job now. No matter how much you have to struggle, but start at least. Take the challenge and prove yourself as a brilliant survivor.
“There is a way where there is a will”. Remember one thing that there are several people who lost their jobs recently, so, all are living in same situation, you are not alone, who is suffering from this global issue. Accept job which is offering you less money, just go for it, this is the time to grab job given to you and search for your appropriate job. Be positive as much as you can do. To earn money in this tough period must be your first priority than job profile. One can start new business of his interest with less investment. But it needs more guts to do so in this rough time.
(6) Start Planning Ahead
If you are interested to take home loan or student loan, start to save money now onwards. Then, choose scheme which will give you least interest and medium installment for average time. Start planning for your kids for their bright future and save money for them. Don’t spend money unnecessarily on luxurious things. There are many more things important than show off in life. Try to avoid high debt for several decades. Pay a little high installment amount if possible. It’ll decrease burden on individual. Generally, interest rate is not very low when one is taking any kind of loan; it’ll be bit difficult to pay it in future. Better to do planning before taking any larger amount of load like home, vehicle, and student loan.
That’s all from me today. I hope these thoughts will help you to save more money to secure your future among odds and evens in life. May god bless you and give you strength to withstand in this tough time. A new golden day will come with lots of opportunities for people to increase their bank balance and progress level. Have courage and believe in God everything will be all right.
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Posts by SpeakBindas Editorial Team.