Saving money is not attractive to many of us. For a few, it is old school. Being spend thrift and a shopoholic is a in-thing, it is a difficult challenge I am urging my millenial friends to try. Its cool to spend on recreation, food, travel and shopping etc. But if somebody maintains a minimum discipline in the way they manage their money. For starters, let us look at few things we consume can be expensive for our pocket
Cigarettes – A life-threatening addiction is quite common. A stick with an average cost of Rs. 15 per piece, 10 cigarette a day costs Rs. 150. A month supply costs about Rs. 4500. And year supply? A whopping Rs. 54,000. Without calculating interest loss or inflation on cigeratte prices, a 10 year supply would cost about Rs. 5,40,000, more than half a million rupee!
Gold – with saving money, one can buy about 14 gm of Gold, Rs. 32 Thousand for 10 gm, .
A trip to GOA for 2 – mind you a good one with return air tickets from Mumbai and 4/5 star accommodation for 4 days and sight seeing.
Buy LED TV / Furniture – often these products come within Rs. 50000. And many ends up taking a EMI option or Credit card deffered payment route. It costs a high interest rate. It can be easily paid by cash and ease burden by just maintaining a healthy lifestyle and keeping addiction away.
You can buy grocery for 4 with this moneey for 3 months, and the list can go on. The point here is putting money to a constructive use, may make your life happier.
Take up a challenge of Cigarette fasting for a month, every time you get the urge of smoking, put that Rs. 15 in a piggy bank, and lets see saving that money have what kind of effect on you.
Keep Saving. Have a good life