“Are you doing a Job !!! Are you one of them who think we need to be rich or have alot of money for travel !!!! Just read the blog , learn the things & enjoy traveling”.
So after a lot of traveling in last 5 years , i am getting a lot of queries about funds, money , how i am managing the expanse of traveling after quitting my job in Nov. 2016 etc etc. Everyone needs money for traveling but its not like that you have to be rich for traveling or you have to belongs from a Rich family or you have to earn a handsome amount of money. I want to say that without money no one can travel or live but you can travel in a low budget or you can save money for traveling by proper management.
Please note that i am not a writer or professor , i am just sharing my experiences here which may be useful for you guys as well.
I am belongs from a medium class family , who have done graduation by taking loan , the one who has faced tsunami of recession & struggling to get a job for more than 2 years. I have completed my graduation in 2010 but got a average salary job in 2013, after 2 years 9 months. i loves traveling & my struggle taught me the way of traveling. When i joined employer ,my colleague challenged me that i can’t do traveling now as i am going to be a employee who would work 9′ AM to 6′ PM in a average salary but i accepted their challenge & told them that from now i will do traveling every month & let me see who would stop me , Money or Time !!! i was single at that time but had the responsibility of father & mother , i have to pay my education loan & now last & not least i have to survive in Delhi – A Metro city where everything is costly .
So now i have to do many things. I have to fulfill family expectations & my traveling expanses. So now i need a solid money management so that i could do everything. So here i am going to share the tips of my money management & How i saved money for traveling. Below given tips may useful for students & the guys who are doing a job in less salary.
Save 10% of Salary every month in RD : In many religion its asked to donate 10% money to poor people or invest in good works. So here i am saying that you have to save 10% money for your interest or dream. Its not a big deal. If you have a salary account then you can create a Recurring Deposit account online according to your salary. If your monthly CIH (Cash in Hand) Salary is 20000/- then you can save 24000/- + interest per year. I used this funda or technique frequently.
Save festival Bonus : If you are in INDIA or any other part of the world , you may be getting a Bonus every year on any festival occasion . It may be part of your CTC but you will be getting this bonus once in a year, For example in INDIA , employees gets a Bonus amount every year on a festival (Most probably Deepawali- A Hindu festival) its equals to the 15 days of current salary of employee. For Exe if your salary is 20000/- then you will get 10000/- as a bonus every year.(It may increase according to the increment). Its not necessary for you to spend this money as you are already getting a fix income every month for your expanse so you can save it as well.
Save Earned Leaves : Now you will ask how its possible if you want to travel every month ? I want to say that its hard but not impossible. I have saved money through this technique also. If you want to save EL then you have to do work on holidays or sundays, I used to work on sunday once in a month & it saves my EL. In most of the companies you will get 15 EL which equals to the 15 days of your current salary. For Exe if your salary is 20000/- then you will get 10000/-
So the above given points are for the Salaried person. Now i am going to share with you that how you can manage rest of your salary & save money from your daily expanses. I bet if you implemented these in your life then you could save a lot of money.
EXPANSE MANAGEMENT :
4. Save on accommodation : So this is very first & very basic thing in which you can save money like minimum one thousand per month to more. Now there are 3 ways to save money in accommodation :
a) If you are a student or doing a professional job & living far from your family then what is the need to stay far from your collage or company as well ? Have you got my point ? No !!! I want to say that just stay near the collage or your company so that you can save money to which you were going to spend on local transportation. If you will stay near the collage or company then it would save you money & time as well. For Exe. i was working in Delhi – the capitol of India , i stayed near the office at just 10 minute walking distance. My some colleague who were living far away were spending money from 600/- to 2000/- INR per month on local transportation to reach office & many time they got late as well
b) Don’t look at luxury accommodation. If you are doing a job then you are spending at least 9 hour in office & if you are a student then you must be spending 6-7 hour in collage . That mean you just come to the room only for night stay. So look for a basic accommodation because there is no need to show off or spend money on fully furnished apartments.
c) Privacy matters but now its about travelling & save money to complete your travelling dreams. So you can share your room with a partner who will share half the cost of your accommodation. It will also save a good amount of money.
So from the above points you can save from 1500/- to 5000/- INR per month. It depends on person to person.
5. Cook Food at Home : I know its easy to say but implementation is very hard even i also felt lazy to cook food. It takes time + patience but if you really want to save money then you have to do this. It will definitely save your 60/- to 80/- INR per day, it means 1800/- to 2400/- per month. When i was working in delhi , i won’t took breakfast. The tea were served in my office at 10:30 AM & i just took some biscuit or home made snacks. I am not saying that you have to drop your breakfast , i am just explaining what i have done.
6. Don’t buy Personal Vehicle : You can apply this tip in your life specially if you are living away from your family as i have applied this & never buy even a motor bike till the age of 27. Like if your staying near your office or college then there is no need of motor bike. Yes, you can use motor bike in weekends but this is also just like wastage of fuel as its not necessary to go for parties or hangouts on bike. You can use public transportation or metro (local trains) as well to commute from one place to other. It will save your at least 500/- INR per month minimum.
So now i comes to those tips which may useful for you all. It doesn’t matter you are doing a job or student or house wife or businessman , you can use these points in your daily life & save money.
BEHAVIORAL EXPANSE MANAGEMENT
7. Save from your bad habits : Bad habits related to your addictions like Smoking or Drinking. I never smoke or Drinks or i can say that i am not addict to those things. Yes , one need to have experience of everything but it may also destroy your life in terms of health & expanses. A regular chain smoker smoke minimum 1o cigarette per day which costs approx 120/- INR per day or 3500/- INR per month. If you are one of them then i think you have to think on it. You are moving on a wrong way. Its not about to 3500/- per month but relate to way of living as well. If you are a regular drinker then also you have to think once. But if you are doing all these stuff occasionally then you can save money from it.its hard for a professional employee to stay away from all of these things but use it smartly. You can go for it monthly or decide a monthly budget of 500 to 1000 INR but you have to manage this anyhow if you want to control your expanses.
8. Uninstall Online Shopping Apps : Now a days everyone using smart phone devices which embedded with modern technologies. Every mobile have some pre loaded applications & some we install according to our requirements. So in this modern era no one want to go to market for shopping & using online shopping applications like Flipkart, Amazon,Shopclues etc etc. to save time but you didn’t know its taking your money too. Now you will ask How !!! So the use of these applications is ok if you really need something but if you are using these application for time pass OR surfing the app at the time when you are getting bored then there is a chance that you will order something to which you don’t need. So you have to save yourself from unnecessarily or unwanted shopping.
So from now if you will open any online shopping site or app ,just thought once before take a look, What i need to purchase now ??? If your answer in ‘No’ or ‘Nothing’ then don’t open such sites.
9. Don’t buy anything on EMI : Yes, i would suggest not to buy anything on EMI. It affects on your monthly cash in hand. For Exe. You buy a cellphone on easy 10 EMI’s of 1200/- per month by thinking that it will adjust on your increment. Then after two months you buy something on EMI with the same thinking. Now after your salary increment you would think that now you have to change your accommodation to a better one which will costs you 2000/- INR more per month from previous one. So these are the unmanageable things. You are spending more money as comparison to your yearly increment value. So if you really want to buy something then save money first then invest it. One more Exe. you have taken 3 things on EMI which costs you 4500/- per month but what in case if you lost your job by any of reason ? How would you way such expanses. So spend money smartly.
There are some more tips like how you can save money on travelling or how you stay cheaper. I will share more information in my next article.
Thanks to read my article & please share your valuable views. If you have some more tips then please share in comment box , i will give space to it in my article with credits.
Raman Kumar Khadria
RK Discovering INDIA