Money Matters

One of the biggest issues faced by the youth is the lack of money. Madhura Sansare talks about the woes of money and gives quick tips to save without scrimping on the spending

You know the phrase about pigs flying that is usually used to convey something as being particularly impossible or improbable? Perhaps we should use ‘when money stops flying’ to convey the sentiment instead. And nobody will understand this very strenuous ordeal as well as a young person. Either students surviving on a strict budget set by the parental pair, or young adults venturing out in the corporate world for meagre salaries while trying to create a name for themselves, all for the slightest possibility that that name might make a worthy pay-check someday, the problems of the youth are the same. Money flies off before you even realise it had come in. And even the mere idea of saving is an alien one.

Go for products on an offer wherever you can:
Offers are a lifesaver for someone on a budget. Discounts and ‘two for one’ offers, though just a marketing gimmick, work perfectly for your weekly grocery shopping. Avail any deals you can get to make the best of your limited budgeting.
GroupOn: Apps like GroupOn were a godsend for young people. Be it a weekend out of the city, or fancy restaurants that are always out of budget, GroupOn has deals and dicounts on everything. Even a spa day is a possibility on GroupOn. And that’s saying something.

Don’t watch TV:
We know this one sounds weird, but hear us out. Television is the best advertising tool present for brands nowadays. And there has been ample scientific research to prove that people who watch these adverts are much more likely to go out and spend on the items than people who don’t. So save your money, stay away from the idiot box.

Choose flea markets over malls:
You know that brilliant pair of blue jeans you got from the mall that fit you like a dream, but cost you a quarter of your month’s budget to get? Yea, that one. There’s an unbranded pair that fits you just as well hanging at a stall at Crawford market just as you are reading this. And it comes for Rs. 600. We’re sorry. But that’s not it. The range of kitschy accessories and fun add-ons that one can find at such flea markets are immense. And these have become so popular over the last few years, that there are annual flea markets popping up all across the cities for a few days. Shopping is a pleasure, and thank to these markets now, it doesn’t have to be followed by a week of guilt anymore. Happy days  indeed, right?

Shop sales only:
With a retail market which focuses on sales throughout the year, youngsters like ourselves are quite lucky. So go out there and get your share of branded love during these sales, and flaunt your find. But beware, sometimes the MRP prices are raised so that they can be discounted and sold for the original MRP instead. Avoid festival season sales, as that is when the MRP raise is more prevalent. Choose end-of-season sales instead.

Pinterest:
Here’s another social platform to save your money. Pinterest is one of the finest social platforms for DIY options. Go through the platform to find ways to construct your everyday items, with an amazing twist.

Pre-drink:
We all know how hard it can be to have a thriving social life by the end of the month. But you can’t be expected to give up on your social life because of monetary issues, right? So here’s a way. Pre-drink before you head out. Drinking at home and then heading out to party ensures all the fun of the night, with half the pay. Just be sure to have a designated driver among you.

Get books from the library:
As all the bookworms out there know, the love for literature does not come cheap. But it can. Just join a library. You can buy your favourite books for your personal collection later if you want. Book-lovers all across the country even have free libraries now where you can pick and donate books at your convenience without even a monthly fee.

Don’t wait to invest until you have ‘extra money’:
Investments are a great way to earn some extra cash. Don’t wait for a time where you have extra money to invest. Save some now, and put it in. You will be reaping the benefits of your sacrifice sooner than you think.

 

Volume 5 Issue 4