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Whacky ways to save

Larissa Fernand

A little imagination can work wonders. Yes, but just how imaginative can you be with your savings? Well, here are 10 points to get your creative juices flowing.

• Was drooling over that pastry in the cafeteria, but decided that Rs 50 was too much to pay to put on a 1,000 calories? Dump the Rs 50 you would have spent on it in the piggy bank.

• Just finished repaying a loan? Pretend you haven't. Keep that sum aside every month (or, at least, part of it). Instead of landing up in the creditor's wallet, it will now find its way into your piggy bank.

• Start saving all 'extra' money. So the next time you go shopping with Rs 500 and spend just Rs 450, deposit the balance Rs 50 in the piggy bank. Over time, it will amount to a substantial sum.

• Are you an emotional spender? Angry? A new pair of shoes might help. Lonely? That new outfit would cheer you up. Depressed? A couple of beers would be perfect. This can turn out to be a big hurdle in your savings pattern, especially if you get lonely, angry and depressed often. It may be cheaper to visit a psychiatrist.
• Should you get a bonus, or a rich relative gives you a gift, or leaves a tidy sum for you in his will, invest this money instead of spending it.
• Find yourself using your card too often? Start leaving home without it. So that shoe sale, which would have got you spending on your card, will require you to make a trip back. If it's irresistible, you will. Chances are you won't. Pat yourself on the back for this.
• What if you do carry your card along for a genuine purpose and then you saw this sale and the temptation was just too much? Don't lose hope. Just sign with your left hand. Chances are that the shopkeeper won't accept the signature and you will be relieved of your obligation to buy.
• If your credit card gives you the option of putting a picture on it, put on someone's photo whom you utterly detest. Chances are you will hate using your card because the sight of that person's face would ruin your day.
• Every time you exceed your monthly budget, burn up calories. Keep a ration: say Rs 100 will get you walking for a kilometer. The result: a slimmer you, but a fatter wallet.
• The fact that you are not happy with your savings shows that you are not earning enough, to maintain your lifestyle. Earn more. That means, work more. It could mean taking up another job. Look at the brighter side: working like a dog will not leave you any time to spend money.

Do you have any tips you might like to share?