Lowering expenditure and saving money should be the mantra
Every household in our country has to incur monthly expenses on essential items. The items can range from grocery items to vegetables or fruits and other miscellaneous items.
Due to the ever-increasing cost of living, it has become quite arduous and challenging to maintain and manage household expenses. Gone are the days when minimum monthly expenses were within our budget, but no more.
The prices of essential commodities have spiraled out of control and as a result, the average monthly household budget has exceeded the monthly income. This has severely dented the pockets of middle-class families and lower sections of the society.
To curtail unnecessary expenditure and save a certain amount of money I would like to mention a few tips to follow:
Always spend within your budget and according to your needs
Never get buoyed by luxury items
Keep expenses to the bare minimum and always bargain fully
Never allow your expenses exceed your income at any cost
Never borrow loans or large sums of money unless and until the situation warrants
Never buy things on credit under any circumstances
Curtail your habit of eating out
Avoid unnecessary expenditure on clothes and accessories
Use electricity, landline phone, and gas economically
Never buy items, which are beyond your budget and go for low-cost quality items instead
Undertake cash transactions and avoid using credit cards to the maximum possible extent
The above points are necessary for any family whose income is the bare minimum. There are umpteen ways to reduce your monthly expenditure but the above tips are very useful and imperative for any family to follow.
Monthly household expenses in India have increased manifold and there is no sign of the trend declining soon. In such a situation, it becomes quite tedious to manage our expenses and prevent it from spiraling out of control.
Millions of families living at bare minimum income either struggle to make ends meet or simply fail to muster up the required income to cover up their expenses. There is no way a family can survive below the average monthly income that is essential to run a family.
Families earning below this threshold are considered poor or those living below the poverty line. The rising cost of living has given rise to social and economic problems and as a result, people resort to illegal and illicit activities like looting and vandalism.
Children of all age groups are forced to beg on the streets and do menial jobs, and on the other hand, women and men do labor work to earn their livelihood. Drastic changes need to be introduced and child labor should be abolished so that every member of a family gets a well-paid job.
Many households across the country struggle to manage and run their families with a bare minimum income. To support such families, a monthly income scheme is an absolute necessity.
Every member of a household should get employment so that they earn the minimum threshold income to run their family. No one is superior to others and no one is below par. All are equals in the eyes of God. Let us create an atmosphere of hope for the needy and the poor, for the young and the old, and for all humans who have the moral right to survive and lead a life of eternity.