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Live in a metro city? 4 Realistic money-saving hacks that can help

Here are four ways many of you can save at least Rs 1000 more each month.

If you live in a metro, you know how difficult it is to save. This is especially true for those who have started their careers. From commuting long distances every day to finding affordable living spaces, everything can seem like a drain on your resources. In such a scenario, saving can seem like a stretch for many. 

But it doesn’t necessarily have to be this way. Here are four ways many of you can save at least Rs 1000 more each month.

#1. Ordering out – Use digital wallets and restrict how much you will spend

Ordering out, especially with the proliferation of food delivery services, is now a norm for nearly every young professional in a metro city. Whether you are feeling like having something special or just feeling plain old lazy, it’s almost a given that you will order food at least 10-20 times a month, if not more.

You’d be surprised how much can this cost you. No, we are not going to be all preachy and tell you to cook! Do something smarter as some of you are already doing this. Use a digital wallet for your ordering out expenses. Simply load a budgeted amount into the wallet and spend from that, only for ordering out. You are much more likely to stay in budget when you see a fixed amount in your wallet.

I cut down my ordering out expenses by Rs 500 per week, just with this hack. I am sure it will work for others too.

You can reduce your movie expenses by simply being selective. For example, recently I watched a movie, which I realised was something I could have waited to watch on a streaming service that I am anyway paying for. 

#2. Know your movies and watch what you really want to

Most of us love our movies. No matter what kind you watch but going to a multiplex to watch movies is one of those things that’s another given in a big city. This is also becoming an increasingly expensive affair!

The tickets on weekends can easily set you back by Rs 300- Rs 500 per person, especially for must-watch superhero blockbusters. Then add all the crazy expensive snacks you are going to end up buying. 

You can reduce your movie expenses by simply being selective. For example, recently I watched a movie, which I realised was something I could have waited to watch on a streaming service that I am anyway paying for. 

Think of movies as experiences. You don’t need to have each and every one! Most of you already know which movies you are looking forward to this year. Go for only those, rather than something that’s anyway going to be coming to a streaming service in a couple of months.

#3. Create wish lists of things you want on shopping websites and buy only during sales or offers

Shopping online is something not restricted to Metros these days. Nearly anyone who’s got a smartphone is doing it. But this is where a lot of your hard-earned money is going as well.

Considering most of us use the Internet at work and would be constantly bombarded by ads and notifications from our apps, finding the next thing to buy is alarmingly easy. That’s bad news for your bank balance

A smarter way is to create wish lists. Most shopping apps allow you to do this. Add your want-to-have buys to this list. You would often find yourself then realising what is it that you actually want versus something you just happened to see an ad for and want. You can then wait for any of the myriad “shopping festivals” to arrive and get a sweet deal on that purchase.

#4.  Plan for impulses

Yes, it sounds like an oxymoron, but you can actually plan for your impulse purchases. The big reason is that you should ideally wean yourself off of credit cards for impulse buying. We all have that impulse to buy something we just happen to come across either while window shopping during a weekend or just randomly browsing a shopping site.

It is merely common sense to expect us to have impulses we can’t control, especially when it comes to shopping for clothes or even food! Create an account specifically for your impulse buys and add some money to it whenever you can manage. Use this to make acting on your impulses a smart decision rather than a usual lousy idea.

Follow these four steps and spend smarter while you save more.

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