Category: MoneySavingTips

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MoneySavingTips

Money Saving Tip #4:Stop Your Kids from eating Junk Food

This post is in continuation of my money saving tip series (see here)

Children in India seem to just love junk food like chips,fritters, colas, sodas,cream biscuits etc

While parents know that these are bad for their teeth and for their health, they seem helpless in front of their kid’s demands.

As paedatricians often warn, these foods contain colors and other allergens which result in coughs/colds/allergies in children.

A typical middle class family probably spends around Rs.100/week (if not more) on these kinds of foods.By cutting them out and convincing your kids to eat healthier alternatives, one can improve their health and save trips to the doctor.

Estimated Cost Savings:Rs.5200 per year

Total Potential Savings From Money Saving Tips Series so far:Rs.14500 per year

Email your own money saving tips to Alpha Ideas

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MoneySavingTips

Money Saving Tip # 3:Quit Smoking

This post is in continuation of my Money Saving Tips Series (see here)

Everyone knows the harmful effects of smoking.But as the sales growth of ITC shows, more and more Indians just love to smoke

Maybe the math of quitting smoking can help change people’s minds !

At an average price of around 75 Rs/pack, even if you are smoking one pack a week, that translates to around Rs 3900/year.So quitting smoking helps two objectives-saves your lungs and saves money too !

Estimated cost savings: Rs.3900/year

Total Potential Savings From Money Saving Tips Series so far:Rs.9300 per year

Email your own money saving tips to Alpha Ideas

 

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MoneySavingTips

Money Saving Tip # 2:Reduce Electricity Bills

This post is in continuation of my Money Saving Tip Series (see here)

One expense that is there in everybody’s household are electricity bills.

One kind soul called Abhishek Jain actually started a website called Bijli Bachao (means Save Electricity in Hindi).This website has plenty of suggestions to reduce electricity bills and how to choose various appliances such as refrigerators, appliances,fans,lights etc

Estimated Savings:Rs.2400 per year (Rs.200 per month)

Total Estimated Savings From Money Saving Tips Series so far:Rs.5400 per year

Email your own money saving tips to Alpha Ideas

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MoneySavingTips

Money Saving Tip # 1:Extending the life of your razor blades

This post is in continuation of my Money Saving Tips series (see here)

In the olden days, when a King wanted to punish somebody he used to gift him an elephant.The cost of feeding the elephant etc was so expensive that the recipient used to go broke.

In the modern world, using a Gillette Razor is like a white elephant.As part of their marketing strategy, the razor is fairly cheap but the blades are expensive (A pack of 5 Gillette Fusion Blades cost Rs.600).

So, how does one enjoy a Gillette shave and yet not blow up a wad of cash on the blades?The video below explains how

 

Estimated cost savings per year:Around 3000 Rs (Earlier, one blade used to last for 2 weeks, now it lasts for 6 months)

Email your own money saving tips to Alpha Ideas

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MoneySavingTips

Starting a new series:Money Saving Tips

Was attending an investment seminar recently where the speaker was expounding the benefits of investing in tax free bonds.One gentleman got up and asked “Sir, how can we invest in these bonds when we don’t have any money left?””

The truth is that high inflation and galloping expenses have eaten away at the purchasing power of most people.

Its quite unlikely that prices of anything (food,fuel, school fees,medical expenses,property tax,insurance,travel etc) will come down, in fact they will just keep increasing over time.

Is there a way out?Well, the answer lies in the old proverb “A penny saved is a penny earned”.

I am a starting a new series called Money Saving Tips.Basically, they will cover simple tips to save money.I would request readers to contribute tips from their own experiences so that we can all benefit