New Delhi: Many people complain that despite having good income, they feel short of money at the end of the month. One such experience was that of 26 year old Rahul (name changed) from Delhi. Rahul, who worked in an IT company, had a decent salary, but at the end of every month his bank balance was almost exhausted.
After facing the same situation for several months, he decided to keep a complete account of his expenses. He started writing down all his expenses in a diary for a month.
When Rahul looked at his diary at the end of the month, he got a big shock. They thought that rent, electricity bill and hanging out with friends were their big expenses, but the reality was something else.
About Rs 2,000 was being spent every month on the tea, samosas, biscuits and small snacks consumed daily under the office. At the same time, due to frequent use of autos and cabs for short distances, additional expenditure of about Rs 3,500 was being incurred.
Rahul also noticed that he had active subscriptions to several OTT and other apps in his mobile, which he rarely used. Money was being deducted from these accounts every month.
Apart from this, the habit of online shopping was also affecting their budget. Expenses were continuously increasing due to ordering small things in the lure of free delivery or discounts.
Rahul says that when he started writing down every expense, he started understanding where and how the money was going. By checking the account of expenses every night, wasteful expenditure automatically came under control.
After this new habit, Rahul stopped unnecessary subscriptions, preferred metro and walking for short distances and reduced ordering food from outside. The result was that at the end of the month he started having additional savings of Rs 10,000 to Rs 15,000.
If you also struggle with money crunch every month, then start noting down all your expenses from today itself. Whether the expense is Rs 10 or Rs 2,000, keep a record of every payment. This small habit can teach you better financial discipline and help you increase your savings.
