Moving to a new city can be daunting, especially when the city has a high cost of living and you need to live on a budget. For students and new working professionals, expenses in a city can be a big cause of worry. There are a few ways that can help you stay within your budget even in an expensive city, without having to compromise much. You can adopt a few practices that will have a great impact on your spending habits. These will cut out unnecessary expenditure and will help you save while still having a good time. Here’s a list of things you should take into consideration if you want to stay within a limited budget.
Make a budget
The most important and the first step should always be coming up with a budget. Keep into consideration your monthly income, and that not all of it has to be spent. First set apart an amount for any urgent need. Make a detailed budget with the rest of the money. Next, budget in order of necessity, rent, food and travel. Once you’ve done this, you can then set a budget for leisure activities like shopping and going out.
Making the budget is only the beginning. You have to try your best to stick to this budget and track your spending. Check-in which areas you have gone over budget, where the expenditure is lesser than expected, and adjust your budget. Make revisions till you come up with an ideal budget for yourself. Save some money and live a comfortable life in co-living spaces in Mumbai.
One of the reasons staying within budget is so difficult in an expensive city, is due to the skyrocketing prices of housing. If you want to cut down on price, but not comfort, shared accommodations are the best way to do so. Splitting the cost between people puts a lesser burden on an individual. You can pick a place close to your workplace or college, without having to worry about the cost. What’s even better is coliving spaces in thane. Here apart from the cost-cutting benefits of sharing an accommodation, you get all facilities and a fully furnished space at a low price. So you save money on rent, furniture, housekeeping, etc, while enjoying the amenities they provide like WiFi, TV, Washing Machine, RO Purifiers and much more.
Cook at home
So often for the sake of convenience, we decide to order in or dine out. This is one of the major reasons your costs of living in a city goes up. Cooking at home can significantly reduce cost and help you stick to a budget. Learn a few simple recipes by watching YouTube or reading food blogs. Pick fresh groceries that you will need for your meal and prep in advance. This will ensure you have all the required ingredients before you start cooking. If you have roommates, allocate different meals for each one, so that you do not have to cook every meal. Visit full post here
Travelling by an Uber can turn out to be expensive daily. Even investing in a private vehicle can be expensive and nor is it good for the environment. Use public transport to get to most places. If the place is walkable, avoid using any transportation. Try carpooling or other methods, where you do not have to travel alone. This will play a major role in helping you cut down on cost in an expensive city. Also, choose accommodation in the vicinity of where you work or study. This way travelling every day will not be a hassle and you will also save money.