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Saving tips: How not to be a Vijay Mallya in 7 easy steps

  • Dailybhaskar.com
  • Feb 18, 2013, 22:42 PM IST
saving tips, lifestyle management, saving tricks, managing expenses, household budget, household management tips, salary
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saving tips, lifestyle management, saving tricks, managing expenses, household budget, household management tips, salary

New Delhi: It doesn't take a rocket scientist to figure out the pitfalls of leading an irresponsible lifestyle- a look at the plunging fortunes of the once-successful Vijay Mallya more than does the trick. 

But as the quintessential aam aadmibattling rising inflation and stagnant salaries, how can we know what constitutes legitimate, practical expenses? And what can be described as frivolous fizoolkharcha?

Ask yourself these 7 straight questions to know whether you lead a sensible lifestyle and aren't headed for a Kingfisher-style financial disaster...

 

Find out more by clicking on the following slides

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Can you survive without a job for 7 months?

Reality Check:In an uncertain economic environment, getting a high-paying job and holding on to it is easier said than done.  And losing it can be quite a disaster, particularly if you lead an extravagant lifestyle.

Calculate your income for the next 7 months, assess your current expenditure and think whether you can live comfortably for the next 7 months if you actually end up losing your job.

What you can do: If you find out you can't, then you know rightaway your spending habits aren't exactly sensible.

Start investing smartly, and try to build up enough savings to see you through at least one year of a no-job situation.

(Image: freedigitalphotos.net)

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