Those who live in a PG or co-living accommodation may incur additional costs. There are some simple tips for those moving into such shared accommodation to save money. Are you new to a paying guest (PG) or co-living environment? You will undoubtedly be excited about the new chapter in your life. With new friends around you, you may find yourself socialising a lot more. However, this may necessitate some additional spending. Here’s a guide to better budgeting your life when staying in a PG or co-living space.
Ways to Save Money
1) Keep a Track of Your Expenses:
Managing bills when you’re on your own is difficult. Food, birthdays, parties, hangouts, travel, daily travelling, grocery, shopping, salons, internet, and anything else you are interested in will incur costs. There are numerous apps available today that can assist you in calculating your daily expenses. If you’re not a great fan of apps, you may keep a diary to make daily or monthly entries. Like this, you can keep a track of the extra money you’ve spent and be careful the next time.
2) Learn to Share Your Resources:
Reduce individual costs. Do you have a premium Netflix or Hotstar account? Why not share it unless you truly want to maintain your privacy? Saving a little money would go a long way. When you are away from your family, entertainment is a great way to keep your spirits up. However, with so many paid apps available, you can share your account with trusted PG groupmates. You could also take turns paying bills on such regular expenses. This applies not only to apps, but also to subscriptions to magazines, periodicals, shopping apps and aggregators such as Amazon, Flipkart, and others. More sharing equals more savings.
3) Opt for a PG that offers food:
Eating out is good only when you have it occasionally. The previous generation preferred home-cooked dabbas that promised both physical and pocket friendly. When you are staying in a PG, it is preferable to choose one that provides food so that you do not have to spend money on food three to four times a day. Also, supposedly your PG serves food that you dislike. In this case, you can negotiate the monthly rent of the room with the owner and save the extra money. if you are looking for a PG in Ahmedabad, FLH is your best bet. you will get fresh and home-like food.
4) Make a Travel Budget:
Using your personal vehicle may incur additional costs. In India, a private vehicle is often seen as a status symbol, and many working professionals choose it despite the traffic, pollution, and fuel and maintenance costs. Save time and money by taking eco-friendly modes of transportation such as the metro, shared rickshaws, and so on. It is also critical that you live near your college or workplace. You will save money by commuting this way. When travelling with friends, split the travel costs equally.
5) Avoid Splurging at Weekends:
As difficult as it may appear, keeping track of your spending, especially on weekends, will benefit you. Planned outings will help you budget more effectively. For example, if you’re planning a trip somewhere, make an itinerary, figure out how much each activity will cost, and choose packages that are both affordable and uncompromising.
1.How can I save money living in a PG?
To save money, Keep a Track of Your Expenses, learn to share your Resources, opt for a PG that offers food, make a travel budget, and avoid splurging at weekends.
2.How much should I save every month?
Follow the 50-20-30 rule! spend 50% on daily or monthly expenses, 20% on other luxuries and save the rest 30%.