My my.. petrol prices are falling... in Noida it is down from 82 rs to 74 over the last three months .around 10% reduction .. giving back significant savings back to families..
For someone who would have spent 5000 rs a month on petrol, this would be equivalent to around a 500 rs saving per month... or 5600 rs per annum.
This I found when I kept a little track never got invested in savings- I just spent it on more entertainment.
I find such leakages quite common among people and here are a few ideas on how we can use this better..
1. Lock in the savings... add in a sip for 500 rs per month
2. If you think that this maybe difficult because petrol prices will rise again and you don't want to lock in an additional saving...
A. Put the money in a piggybank and at the end of the month put it in a fixed deposit ( or end of every quarter )
B. Put the money in Ppf... there is no limit to deposit every month... min is 500 Rs.
These are quick ideas which will enable significant savings ... especially when prices come down ...
Any more from anyone?
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