When you first move out of your home, you feel like you have the independence to do anything. Live your life and spend your money the way you want it. But, at the end of the month, you find yourself struggling with the itsy-bitsy cash you got.
That is when you wonder what the best way to budget your spending while you dwell in your new place away from your home is. You can book Girl’s PG in Delhi or anywhere in India, but you must understand that with great freedom comes greater financial budgeting (sorry, Stanley, I stole your line).
The Reckless Spending Spree
Youngsters are infamous for spending more on cars, consumer durables, and other conveniences. Statistics suggest that 60% of them spend more than ₹500 on a single coffee, and 70% of them will pay a little extra to eat at the hip restaurants in town (Outlookmoney).
Furthermore, many people try to travel up and down daily for their studies or work. It shoots up the travel costs, and they often end up with lower funds by the end of the month. Thus, the pre-millennials keep on telling them to save and invest. Well, that’s another kind of budgeting.
One needs to stop the spending spree over the shopping complex, cut down the travel expense and understand how the budgeting works, especially when living alone.
Get a Budget-Friendly and Convenient PG
Now that you know that you are spending more than you initially intended to spend, this is where you make a difference between spending tons on a PG that lets you stay and a PG that is loaded with the required amenities and facilities.
Work and studies both require you to travel daily. Therefore, the primary idea of getting a PG is to solve the daily commute problem. Choose and book a Girl’s PG in Delhi that provides you with the convenience of less travel and easy connectivity.
Secondly, check for the price point of the PG you are getting for yourself. It will be a firm support for you if you get a roommate to share your monthly rent. It will cut down the cost of your pocket alone.
Sorting out these two will help you take the first step of budgeting.
Track Your Daily Expenses
Your mobile is your ultimate guide. All you need to do is get an expense tracking application. It will help you keep a curious eye on your expenses and the miscellaneous payments you made during your weekend. Once you get a good idea about it, you will know where to cut down your spending.
There can be both essential spending and careless spending in the monthly tracking. Reading the expenses will help you manage them better from then onwards.
Cutting Down on Travelling Costs
For example, you booked your Girl’s PG in GTB Nagar to travel to your college on the North Campus. But you take cabs to reach your college where you can save it by travelling in an auto or e-rickshaw. It will cost far less and help you save money for your daily commute that you can add at the end of the month.
Traveling cost is a hidden daily expense that people often overlook. Therefore, managing it can also help you fight the overdue of the following month.
Booking your flight and train tickets to Tatkal will be a massive cost on your shoulders. Plan it beforehand if you will be going home or taking a vacation. Trips and Vacations can disturb your budget completely. Therefore, it is a wise choice to keep your future plans in mind when budgeting for the month.
While you book Girls PG in Delhi or a Boy’s PG as well, do remember the essential points on budgeting. Feel free to top all the pointers off with your personal ways of saving an extra bit of money.
Closing it In
That brings us to the close of the blog on budgeting. Honorary Mention: a great budgeting tactic that can work best for the new gens. You can share your resources with your friends. For example, you can share your Netflix Account, Amazon Prime, or shopping account to manage your money better.
Other than that, you have all the pointers you need to make your stay worth it without compromising your fun and having enough money to get going for a long time.
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