You go to a restaurant with your date to have dinner. You have decided to pay with your credit card… Rejected! Only then will you remember that your bank account is in overdraft; It cannot be used. Laugh in her face knowing that your date she takes the bill.
Here are some tips for setting aside a few dollars
1. Find your kitchen Take a second walk around your kitchen
Yes, exploring new areas can be a little intimidating. Eating out regularly at home can save thousands of dollars and countless hours a year working out on the treadmill at the Big Mac. Spending $10 a day quickly adds up to $300 per month or $3600 per year!
2. Buy Used
In the original Tamil style, the first car your parents bought can be used. A new car loses half its value in the first three years. Why not save that $20k+ by buying a 3 year old car? Use it to pay off some of those student loans or in advance at a new condo.
3. Don’t Induce Purchases.
Any time you walk through a mall, your attention may be drawn to those bright red signs: ‘50% OFF!, ‘Buy 1 Buy 1 Free!’ Before you buy it, take some time to reflect on whether a purchase is warranted. Impulse shopping can easily add up to thousands of dollars a year, even for small items.
4. Get the Groceries Right
most of us go to the nearest grocery store and buy everything we need as it is convenient. It is customary for our parents to go to many stores to buy them at low prices. Taking into account the weekly shopping trips, there is a savings of $500-$1000 per year on groceries!
5. Pay Those Bills
Remember all those bills you have to settle but still haven’t received? At an interest rate of 10% to 20%, you may find that your bills burst very quickly. Setting up automatic online payments can help those who are ‘busy’ paying those annoying bills on time.
6. Withdrawing 1-2% of Your Purchases
with the DOTS card may seem small at first, but it can add up over time. Use your Points card to save that money in the future. It is risky and not beneficial at all.
7. Compile your services
How many of us still use home phones? Watching TV online with services like Netflix can quickly eliminate the need for cable outside of specialized programming. Save your cable/phone/internet bill and go to Basic Packaging and compile your services. Saving $20 per month from the package can add up to $240 per year.
8. Deals Many technology stores and car dealers are run by owners or paid employees on commission. Always try to reduce item price or add parts/warranty for free. As the sales agent seeks to finalize the contract, they will be ready to negotiate the terms. If you saved an extra $50 on the iPad you bought, you may have paid off by that date.
9. Sell your trash and remember any old stuff you have in the storage room because it will be useful in the future?
Selling it on Craigslist or eBay can fetch extra money while maintaining the value of the item. It also gives you the added benefit of freeing up some extra space.
10. Repairing a leaking pipe, slow system or clogged shower can be time-consuming and troublesome. The easiest way is always to hire someone to do the work. But spending money on things you can easily handle with a little elbow grease isn’t the best way to spend money. Do it yourself and use that savings to make things count.
Even if they are not perfect, Tamil parents do a lot in terms of saving money. So, the next time you’re about to make such a big purchase, take some time to ask, “What would my parents do?” Ask yourself this. The savings of a few dollars here and there will quickly add up. Those few dollars can add up to an uncomfortable Valentine’s Day date with your girlfriend…. for example lol.