Strategies that will help you survive a month end cash shortage
Not having enough cash at the end of a month is a situation that most people find themselves in. With so many things to spend on – bills, shopping, rent, recreational activities, groceries etc. running low on funds until your salary gets credited is not uncommon. However, it is not wise either. It is important to save and set aside a few extra bucks for unexpected emergencies that may crop up.
To avoid facing monetary difficulties at the end of the month, start making small changes in your monthly spending. By optimising the way you spend, you’ll definitely have enough for all your needs.
Here are some simple tips you can follow:
1) Cancel subscription services you no longer use
It’s easy to forget about monthly memberships and subscriptions as they’re automatically paid through your Debit or Credit Card. But if you take a minute and sift through these costs, not only will you realise that they’re quite high, but you’ll also come across many subscriptions that you no longer use.
Ditch the ones you rarely or never use like multiple video-streaming services and only pay for what you use frequently. Saving Rs. 700 a month is Rs. 8400 in a year, which you can easily stash away!
2) Find a side hustle
You can always do with a little extra cash; a side hustle will make a huge difference in your wallet. From turning your hobby into a side business to searching for a part-time job, you have plenty of choices. You can look for home-based jobs that give you flexibility along with supplementing your income.
3) Use shopping apps to find coupons and deals
Next time, before you decide to splurge on a shopping spree or go on a much-needed vacation, quickly surf the internet and you’ll find a plethora of deals on various websites. If you are an HDFC Bank account holder, make purchases or booking via SmartBuy and enjoy CashBack or Reward Points. You can even pay through PayZapp, mobile-wallet and benefit from offers and discounts. With offers on everything; from bill payments to movie tickets to flights and more, you’ll be surprised by how much you’ll be able to save!
4) Replace costly habits with inexpensive ones
Sometimes, you tend to make poor money choices that sabotage your finances unconsciously. Breaking those bad financial habits can help you overcome monetary troubles. Simple things like cooking at home as opposed to ordering a large pizza, picking local brands/products over expensive ones, walking short distances rather than taking your bike or car, etc. can go a long way in helping you save. You don’t have to completely give up your guilty pleasures, instead, you indulge in them without breaking your budget. Moderation is the key here.
5) Buy the things you want now and pay later with FlexiPay
Don’t let the amount in your bank account spoil your plans or needs. With HDFC Bank FlexiPay, you can shop now and pay later across categories like home décor, health & fitness, travel, bill payments, subscription, groceries and much more! With your HDFC Bank Debit Card, you can make purchases ranging from Rs.1,000 up to Rs. 60,000 and instead of paying upfront, you can easily pay in instalments. And the best part is that payments made within 15 days are interest-free.
Features of FlexiPay:
- Flexible repayment- The repayment tenure ranges from 15 days to 90 days
- Affordable interest - The interest rate for 30, 60, and 90 days is Rs. 70 per month on the purchase of Rs. 3,000
- No hidden charges - Zero convenience and processing fees.
- Anytime and anywhere credit – Get instant credit of Rs. 1000 to Rs. 60,000 - 24x7. You can use FlexiPay both, in-store and for online purchases
While it may feel challenging to have ready money until the end of the day, with FlexiPay, you don’t have to miss out on any fun. You can spend on all that you want – a new gadget or go spontaneous vacation, by holding payments for a later time. FlexiPay lets you Buy Now and Pay Later!
Read more how you buy now and pay later, with zero interest with FlexiPay here!
*Terms and conditions apply. Loan at the sole discretion of HDFC Bank limited. Loan disbursal is subject to documentation and verification as per Banks requirement.