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Smart Saving Hacks to Help You Meet the Cost of Living in Hyderabad

Smart Saving Hacks to Help You Meet the Cost of Living in Hyderabad

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New city, new me. That’s what you thought when you stepped into Hyderabad for the first time, ready to embark on a new stage of your life. Living alone, exploring your new job or college, meeting people from all across the country – you have a lot to look forward to. And at the same time, you’ve got responsibilities to take care of – your safety, managing your time, and handling the cost of living in Hyderabad. Well, if you’re facing any doubts of how to handle this, we’ve got you covered.

Smart Saving Hacks to Help You Meet the Cost of Living in Hyderabad

Because when it comes to money management, there are simple hacks that can help you save for a rainy day. Like, identifying the big expenses – the PG accommodation you choose, arrangements that you make for household expenses like food, laundry, housekeeping etc – and figuring out the optimal way to manage them. Putting simple hacks into practice will ensure you’ve got a sturdy amount squirreled away for when you need it, without making a large dent into your regular expenses or lifestyle. So, if that’s exactly what you need to make the most of your time in Hyderabad, let’s get started.

Automate your savings

For a lot of us, saving money is something we don’t get around to doing simply because there’s no system in place. Even if you’re not spending exorbitantly, your unspent income is simply sitting in your current account. Instead of leaving your money alone, encourage it to grow by automating your savings. You can arrange for a percentage of your salary to automatically be transferred into a savings account or a recurring deposit, which earns higher interest and helps you grow your savings. Automating the process will ensure you don’t make excuses or delay your transfers and keep up a healthy savings habit without much effort.

Set a timer on your impulse buys

You’re scrolling through Amazon and you see an amazing pair of shoes that’s on sale. You’ve been wanting a new pair for a while and these are available in your size. They’re non-refundable, but that’s okay because these shoes are really amazing. You immediately add it to your cart and check out. But a few days later when the shoes arrive and your wallet is short a few thousand rupees, you look at your overfilled shoe rack and wish you hadn’t made an impulse decision. That’s the thing with shopping online, we tend to make way too many impulse purchases, and these add up. So, the easiest way to separate a good deal that you really want and need from something that just catches your eye in a moment is to give it some time. If there’s something that you’ve impulsively added to your cart that costs over five hundred rupees, you might want to wait a day before you place that order. Giving yourself some breathing space will allow you to rethink your decision and purchase only what you need.

Deal with it

Look, savings should never become a matter of having to do without the things that you want. You just need to be smart about the way you make your purchases. No matter what you want to be, there’s probably a way for you to get it below market price. Especially with the widespread availability of online retailers. So, make use of different deals and discounts when you can so you’re able to get quality items at a lower price. There are several aggregators and web tools that you can use to compare offers and prices on different platforms to ensure that you get the best deal. So don’t think you have to stick to MRPs, there are always discounts available if you’re willing to look.

Keep the change

So, you’ve nipped down to the corner store to pick up some essentials, paid in cash and the cashier hands over your change. Avoid the temptation to shove those few notes and coins into your pocket or the bottom of your bag to be forgotten. Have a designated jar or container in which to store your spare change. You’ll end up saving without realising it, and you’ll never have to worry about running out of coins to pay your auto fare. At the end of a few months, you can deposit the amount from your jar into a savings account, or use it to treat yourself to something you wouldn’t normally be able to afford.

But sometimes, it is not just about following simple hacks to save better but sharpening your decision-making ability which can help you save without compromising on necessary comforts. Basically, learning how to live smarter.

Living alone is always expensive, even in a city like Hyderabad. You’ve got to pay for rent, utilities, groceries, transportation, entertainment and so much more. Not to mention doing all the work for yourself without any help. Instead of spending all that time and money, you could check out the best PGs in Hyderabad for boys and girls and make a smarter living decision. A PG will end up being more affordable than a flat, and since you’ll have several amenities included in your rent, you’ll be able to avoid all that time spent on household management. Just the kind of savings that you need.

And there you have it. With these smart saving hacks, you’ll be able to ace your expenditure in Hyderabad. Your wallet will surely be grateful once you give our suggestions a try. So, go ahead and get started!

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