The appraisal season is almost over by now, must be getting the new salary in your account. You will be amongst lucky few if you are happy with the appraisal you got. For those who aren’t satisfied, there is a trick to make it better for your bank account and own happiness. There are many ways you can save that extra buck, more than often even having an extra cash-flow besides your 9-6 Job salary. Even if you are happy with your salary, still you can try! I am listing 10 things to duel upon. Wear a thinking hat and find your one!
Hobby – This particular Skill we mostly pick up in childhood days! Like collecting coins, stickers, painting, singing, playing an instrument, photography etc. With age either we give up, or make a career out of it. But few in us keep a hidden interest in the subject and occasionally think about how to make a new beginning in it. Yes! new beginning is right decision at any scale you are comfocomfortable from making YouTube video of your recipes to having an exhibition of your artwork. Making some interesting YouTube video is a very inn thing! Making some quick dollars! Challenge your creative side! And enjoy!
Credit card – more than often considered as a villain for making financial mess, is a good product for easing out the cash flow. For making annual purchases like a TV, Fridge etc.. you don’t need to make the chunk payment at one go, with a 50 day credit cycle, you can divide in two months (by prepaying half of it) and saving a cash crunch situation and some brownie points as loyalty points on your credit card. Using it smartly helps you develop a good credit score, proves to be quite useful for a loan taking purpose in future.
*pay Credit card bill on time, if you dont remember the dates, this idea is not good for you
Dividend mutual find (equity or equity based balanced mutual funds)- This particular product is really efficient as a second income. In case of some extra spending above your monthly budget this comes as a saviour. This is also tax efficient. You may consider monthly/quaterly/annual dividend plan. This attempts to provide a regular pay Out as promised, easing out some cash crunch issue, if you don’t require the sum, you may chose to re-invest or keep the cash in bank account for liquidity.
Pool car – If you take your car to office, you can consider sharing the ride with Neighbors or office colleagues in the vicinity and share fuel cost. It can bring down a significant cost on fuel and also environment friendly.
Share your house – This is tricky. This is especially for people who own a house and find it difficult to pay the EMI and maintenance cost at the same time, to ease out here, you make keep like minded paying guest or opt for AIRBNB partnership of you have an extra room to spare.
Share a meal – Pizza Pasta, Burmese Khausue is a comfort food for many of us. Eating alone could be very boring and to heavy for the stomach. Mind sharing the meal with a friend and the cost? Save upto few hundred rupees each time.
Recycle/upcycle – Do you know even cigarette butt can be recycled? And you can earn from it too! Your discarded plastic bags bottles can be used for the repairing roads? Or China extract Gold and silver from your discarded phones! Too much cash in the trash I tell you. Next time think bwfore throwing anything in the garbage box! Money and environment both can get better.
Contingency find – setting aside 3 months income for an emergency is a prudent way to be prepared for unforseen, and a relaxed mind.
Save on bills – if you are habituated at setting AC yemparature at 21 degree in the winter, try raising it to 24 levels, you will see a difference in the electricity bill. Saving some water and cooking gas also Will save you some money.
It pays to have an opinion – YouTube, Instagram, blogs, Twitter and Facebook all can help you earn extra buck if you are consistent with posts. Create your niche.. from finance, food, Fashion, poetry, recipes every niche has dedicated viewers!
Enjoy the monsoon😊