Turning penny wise

Turning penny wise


Phone bills, food and laundry charges, rent, transportation and stationary expenditure, the list just goes on and on. These are just few of the things that people staying in hostels and PGs spend on. And if there is one thing staying in these places teaches you, it is to handle money.

Vishruthi Arora a student says, “Handling money was one tough thing for me. My parents send Rs 10,000 per month. Half the money goes for my rent and laundry, the other half I spend on transport, food, shopping and some expenses in college. Even before the month is over, I am short of money. But when I know I am running out of money, I start saving every penny. I avoid taking autos and travel by bus. This way I have learnt to handle my finances well.”

Swara Jayaram, on the other hand, says she doesn’t like to bother her parents for money. My father sends money for my rent and food. I work as a part-time employee in Veta and I earn around Rs 3,000 per month. This amount I use for my other expenses like phone bills, transportation charges and shopping. I save my money by travelling only by bus and I don’t spend on laundry. I have learnt how to spend and save money by staying in a PG and it has helped me a lot,” she adds.

Staying in hostels and PGs makes one more confident, independent and refined as it filters out many immature  behaviour. Anupama says, “I maintain an account book and I note down how much money I spend everyday. This way I’m able to keep  track of where my money goes and how much I need to save and on what things I need to cut down. My rent, phone bill, travel, cosmetic and toiletry expenses are the highest and this is where a big chunk of my money goes. Apart from this, I hardly spend much on food.”

Avijith Nath finds it very tough to handle his money. “What my father sends me gets over in a jiffy, within two weeks. Most of my money is spent on food as I love eating out and on cigarettes, books and booze. I have great friends and thanks to them, my travel expenses are usually zero as I travel with them most of the time. Saving money is something which I just can’t do. In a city like Bangalore, no matter how much money you have, it’s just not enough. There are so many things to spend on,” he smirks.     

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