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Sunday, 7 September 2014

How to Combat Inflation?

We all know, inflation is always on the boil. Here are some useful tips for you to fight the price rise / price changes:-

  • Plan Shopping in Advance: Before you go to the market, check the inventory at your home. Make a list of items you will definitely need and stick to the plan accordingly. When you go grocery shopping, it is never ideal to go on an empty stomach as the same will tempt you to buy an extra pack of food items which will not require at all. Always use cash instead of credit / debit cards as cash payments will pinch more and will force you to be very careful when it comes to spending.

  • Avoid Wasting Foods at Home: As all vegetables such as spinach, fenugreek etc. are not fit for bulk purchases, you should buy them in small quantities whenever you need to avoid wastage. But you can buy some vegetables like Potato, Onion etc. in bulk as you can store them for more than a week. While you cannot avoid wastage completely, you can curtail the waste by careful consumption.

  • Utilize your Saving Account Money in Investments: Amount lying in savings account idle is not only safe and also inflation will erode its purchasing power. Invest in Fixed Deposit or in a short term debt fund for higher returns.

  • Have Your Own Food at Office: Always take lunch from home. This will save around Rs.3000/- month. You save time, money and also protect your health as unhealthy food stuff is served at fast-food and eateries.

  • Don't be brand conscious: FMCG Companies spend crores of rupees for advertising their products which are recovered from consumers through high prices. You can get local branded products even with good quality. Just keep a strict control on the quality when you buy loose.

  • Take advantage of Sale Offers: Many hypermarkets offer heavy discounts on different items almost throughout the year. You can even buy online at cheaper prices with FREE Delivery service at your door stop. Just check-in to India's Top Online Need Providers from our this blog (reputed merchants' list provided on the right side. Just click and save lot of money).