Moving to an entirely new city with no family support and warmth from your friends can get on your nerves. In contrast to our hometowns, most metro cities are typically taxing, making it harder to live and handle your expenses. You will need to manage a lot on your own. While we’ve shared money management tips for the festive season and for millennials, some tips on money management in metro cities, should hopefully help make your experience throughout the year, an easier one. We’re happy to help:
- Affordable lifestyle – The most substantial expenditure on your budget comes in selecting a place to live. You have different choices for living in most of the towns. The rent prices differ depending on the location. Few cities have lovely spaces for co-living, such as Bangalore, Mumbai, Delhi, where you get most of the necessary facilities at very affordable prices. So do your homework and find yourself a suitable budget spot.
- Make your food – Eating food outside can harm both your budget and your body. Instead, cook safe and inexpensive meals at home for yourself. It will save a lot of money for you and keep your body safe and happy. If you’re someone who doesn’t know how to cook, you can hire a cook who turns out to be a much cheaper choice than frequently eating outdoors.
- Cut back on subscriptions every month – It is not necessary to have subscriptions for every OTT platform. You can save a lot of money by cutting back on subscriptions. These subscriptions take a chunk out of our budget. It will help you reduce the extra expenses in the short term.
- Using local transit – Try to commute using the different local transport options instead of resorting to a private vehicle. Major cities have a sizable local transit network that is reasonably accessible and will not leave a dent in your pocket. Take a bus to work or a shared vehicle, or you can also avail office cab services. This alternative again turns out to be pretty cheap compared to owning a car if your city has a metro train service.
- Get an instant cash loan from EarlySalary – If you ever run short of cash, you can always avail of the instant cash loan from EarlySalary. Download the app on your mobile, and it’s easy to use. EarlySalary can be that friend that you can always trust when in need.
6. Get into a Part-time job – In spending some extra time to earn some extra bucks, there is no harm. You can check out several job websites where you can make money while sitting at home and working. Even an hour of daily work will give you 4-5k per month.
7. Keep some money for small investments – Try putting some money as an investment per month after setting aside some cash for monthly expenses. Be sure to set aside any money in a fixed deposit or savings account, be it as little as 100 or 500 bucks. It will give you some financial protection, and in case of any emergencies in life, you will still have some number.
Staying alone in a new city encourages you to consider yourself and your limits and guides you to find ways to cope with every challenging situation. If you can master the art of balancing your budget, then in every city you go to, you’ll have a great time. So go out and enjoy life there but don’t forget to keep the EarlySalary app handy!
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