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How to live well with a small income in India?

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kipte.khoka

This is inspired by r/frugal
Please share useful tips/hacks for a good lifestyle but with a meagre income
#frugal #meagre #save

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don’t care or listen to relatives.
they always compare things with price tags. live a simple life in a simple house and a locality on the outskirts of city.
spend money on the inside of house rather than outside.
spend money on what family eat , what goes in their belly rather than spending too much on what they wear outside of their belly.(brands don’t matter that much quality does).
if you buy electronics only buy when u need any only buy maximum efficiency electronics.
change mobile phones in 4-5 years only not before that.
Fight don’t happen according to circumstances but because of people some people will fight on little things and some won’t even over big things try to live a happy life with a happy family.
Teach childrens to value happiness and time if they value happiness they will have their personal life straight
if they value time they will have their professional life straight. don’t teach importance of money teach importance of time money will follow.

Deal Cadet Deal Cadet
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Mention what you work and approx how much earning/yr

Deal Cadet Deal Cadet
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beamchota wrote:

Mention what you work and approx how much earning/yr

Its not the point
I am asking for general tips

Deal Cadet Deal Cadet
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kipte.khoka wrote:

Its not the point
I am asking for general tips

Differs person to person, btw nvm

Deal Lieutenant Deal Lieutenant
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Its simple yet difficult , don’t try to copy others LIFESTYLE , STATUS , CLOTHES ,EATING HABITS ,GADGETS , GIVE AND TAKE OF GIFTS ON OCCASIONS / FESTIVALS , ETC ETC . , no matter on which corner of the planet you live , you are almost Happy and will live well .
Just try to attain satisfaction with whatever you have and also convince the ones you dwell with ie wife / husband ,children and parents.

Deal Lieutenant Deal Lieutenant
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You can’t if you don’t have any savings.

Deal Newbie Deal Newbie
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kipte.khoka wrote:

This is inspired by r/frugal
Please share useful tips/hacks for a good lifestyle but with a meagre income
#frugal #meagre #save

What all are your insights, if any? 

Be it from Reddit or your own.

 

Don’t know about ‘low income’ or being ‘miserly’

but generally not having FOMO or to be just as contended with whatever one has (to make do with) is usually a key to contentment. 

 

My own uncle (father’s elder brother) who barely calls people much from his phone number, till lasr I recollect… did not even have any unlimited pack on his number!

Infact only in recent two years have I seen him using my cousin’s retired touch screen phone.

Otherwise I think he still uses an old Nokia with keypad.

(P.S.: He is not low income, he retired well from a PSU bank)

 

Also, one has to take things lightly, I think.

What ‘others might think’ is why people often disturb their own peace.

Which (in my view) is not worth it really.

 

This is not to patronise my father.

But many many years back, when he was taking our grandma (his mother) somewhere, some of us suggested to him

that instead of the (rubber Hawai slippers/ often called bathroom chappal here in South Asia) regular footwear of hers, Dadimaa (Grandmother) can wear normal ladies sandal/ chappals.

 

And my father just looked at us with a matter of fact but deep look, and said

She is my mother, She is okay with them, I’m a paying customer of ’ ____ airline name ____ ’ and we are fairly presentable and not causing trouble to others.

I do not see what is the botheration here."

Grandma had already got a severe hunch by then, and was already short and walked with a cane to support herself and had worn such slppers most of her life.

 

Now, in hindsight I realise of how much (peace) we loose over ‘fitting in’

or trying to live up to the assumed expectations of the society.

 

 

Few years back, a family member bought a usual (Samsung) LED TV for one of my then crash pads.

And I remember how much I flipped. Refused for it to be installed.

 

I recollect moving from CRT type TVs to LCD too… only because it would take up less space.

Ditto about transitioning from 3G to 4G phone. I was least interested to be lured into the consumption habit, just on the (?false?) premise of something being available for cheap or for free.

 

 

Prior to the numerous shifting we’ve had, we lived in the neighbourhood of a nice family.

And that Khan uncle ji, even refused the ride that his own son would offer… while going in the same direction or on the way.

Even if it was one or two kilometers, Khan uncle preferred to walk more (than to be on two wheelers or in a car).

And while this (Khan uncle ji’s example) may not be about frugal living, but about lifestyle choices… this is the first example that cropped up in my mind after seeing your post!

Deal Newbie Deal Newbie
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Common-man wrote:

GIVE AND TAKE OF GIFTS ON OCCASIONS / FESTIVALS , ETC ETC

One of our Fufaji who passed away😢 six-seven years back…

 

had started giving my father, uncles and others a princely ₹5 for occasions like ‘dhok padwa’ (🙇🏻‍♂️ dhok dena/ pranaam.. post Deepawali)…

when our father was still a student.

 

Even till seven years back.. we (all of my family, including my mother) only😊😇 accepted ₹5 from him🙇🏻‍♂️.

 

It was the code, Bhua ji (aunt) was free to do whatever see wants, but with Fufaji (Jijaji for my parents) we ‘demanded’ the Five rupees😄.

&npsp;

And all his blessings (all those ₹5 over the years).are actually the only ones kept separately with some other similar memories from few grandparents.

 

  

But desi functions, occasions are often a passbook or ledger tally..

of who did what last year or gave what when they came to bless the wedding of xyz.

Deal Lieutenant Deal Lieutenant
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To be really honest what you should look at is why you are earning a meagre income and how and by what means you can increase the same. There is seriously a maximum limit to which you can live a frugal life .

And while it will give you short term happiness in the very process you don’t remember how much time you have lost in maintaining / keeping up with this frugal life .

As the first comment suggests good ways to curb our expenses and  maximize sayings but it shouldnt come at a cost of you spending your time on those activities which otherwise you could have spent elsewhere. 

The most important aspect of life is time and one who conquers the same is the real winner . To all the young dimers who are constantly on DD to find a better deal and being sure you don’t even miss one , its way better if you spend your majority of your time on learning new things , upskilling yourself as these assets will remain with you for lifetime.

Also to the OP @kipte.khoka try to reason and introspect why is it that your earning a  meager income , what are your ambitions in life , is your current job / income able to reach you there , why others in your same field of work are earning more than you , what skills they have that you do not , is this current job / business really worth it and whats stopping you from changing it . Do read on management principles like SWOT Analysis , Strategy Maps or Balance ScoreCard approach and  try to apply those business rules to your real life and it will surely give you a different perspective of looking at yourself.

Asking yourself these hard questions and maybe coming up with the answers in an unbiased way will lead  you in the right direction . It may happen rather than leading a frugal life , few years down the life your are living your dream life . Believe in yourself and acheive your goals rather than curbing your expenses 

Short term struggles in life are better than living an entire life in struggle 

Deal Cadet Deal Cadet
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Well, the truth is minimum income is required to live well depending upon the place and size of the family.

One can always curb expenses, live frugally etc but even to maintain that minimum lifestyle, minimum income is required

Deal Newbie Deal Newbie
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PaytmKaPoojari wrote:

To be really honest what you should look at is why you are earning a meagre income and how and by what means you can increase the same.
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Short term struggles in life are better than living an entire life in struggle 

Yes, but

Deal Cadet Deal Cadet
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1) Remain far from Social Media Sites like FB, Insta etc
2) Join some Money Saving Groups, Forums, Group Buying Sites, Coupon Sites etc and get Discount and save money.
3) Disconnect from Internet on Weekends.
4) Use all Government – Health Schemes/Social welfare Schemes/BPL ration card/School/Bus/Train etc.,
5) Save at least 20% from your Income and invest in Post Office RD account/NPS/Govt Insurance/PPF etc.
6) Attend Invited Marriage/Family Functions/Association Functions and have some Good Food sweat_smile

Deal Cadet Deal Cadet
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Always look down people who live poorer than you and think of them. Never look up in to the sky of riches as they will fall down at anytime soon and if you follow them they will make you see sand of dust. Life is not just income its how you live happier with what you have blush blush blush

Vanguard Vanguard
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Use your voting right carefully

Vanguard Vanguard
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satraghav wrote:

1) Remain far from Social Media Sites like FB, Insta etc
2) Join some Money Saving Groups, Forums, Group Buying Sites, Coupon Sites etc and get Discount and save money.
3) Disconnect from Internet on Weekends.
4) Use all Government – Health Schemes/Social welfare Schemes/BPL ration card/School/Bus/Train etc.,
5) Save at least 20% from your Income and invest in Post Office RD account/NPS/Govt Insurance/PPF etc.
6) Attend Invited Marriage/Family Functions/Association Functions and have some Good Food sweat_smile

6th wala to Ameer log bhi korta hai

Kolkata Knight Riders Kolkata Knight Riders
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It depends on whether one can accept and adapt a sub standard living. If you can, you can live with a small income. Everyone has their own definition of a quality living, so find what’s yours. You can live with a small income, but that’s never going to be living well, as simple as that.

Deal Cadet Deal Cadet
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drupal wrote:

Content has been removed!

Sorry to say this bro,

I don’t know how much your advice is relevant to this topic.

please stick to the topic.

I was going through all of the good comments and your comment made me sad..

If you want to support/bash some political Party please use some other discussion which is relevant.

Peace bro..

Deal Captain Deal Captain
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become naga baba or Aghori

Deal Cadet Deal Cadet
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Already others have added good points..adding few points..

Spend less to show up..

Spend only on necessary items rather than on wanted items..

Spend on items which can last long..

Invest atleast some money (10-20%) in Index funds or something else.. (FD rates are really low when compared to inflation, so take decision accordingly)

Spend quality but frugal life in Tier 2 or Tier 3 city.. (This can reduce the cost of living hugely)

Always be ready to face so called gyaan of Lavish lifestyle.. (but don’t get intimidated by them)

Never ever get into debt trap, dont even have Credit cards.

Maintain a Book where every penny is accounted.. and see where money is wasted..

If you want to watch TV, use DD Free dish, 

Use govt transport (Bus, Train) and go by walk or cycle if the distance is walkable..

Maintain friends who have big dreams, and who can understand the situation..

Deal Newbie Deal Newbie
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PaytmKaPoojari wrote:

To be really honest what you should look at is why you are earning a meagre income and how and by what means you can increase the same.
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Short term struggles in life are better than living an entire life in struggle 

NM দাদা, while you make some seemingly valid and surely 100% realistic points, (and this is not to contradict you) …

I wonder if having humble financial capability would be or has to be synonymous with ‘suffering’, compromises or in general be devoid of life’s small small happiness (or by and large be in a good space).

 

 

Not going to be overtly philosophical here, the title is about financial holdings/ person’s life linked to the value which money holds.

 

But still


Just one example:
At our most basic core,
our needs, desires and fears (check past 03:14) might be different even in world where concept of money might have lost its meaning to an extent.
(Not necessarily like Star Trek or Total Recall but something like that).

Deal Subedar Deal Subedar
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“Living well” is subjective no matter what the income is.
A middle class life with 1l+ monthly income might seem good for a BPL family. But the same life is a poor life for rich who earn 1cr a month And this man’s rich life (from middle class pov) seems like a beggar life for ultra rich people like musk, bezos, gates etc.

My answer to live well with any income is to stop comparing with others.

Community Angel Community Angel
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Cody wrote:

become naga baba or Aghori

best advice

Entertainer Entertainer
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Sabse pehle yeh Shanti Mantra yaad kar lo, subah uthne ke baad aur raat ko sone se pehle jor se jaap kiya karo -

Bhaad mein jaao sab ke sab

Ab aaram se khushi khushi apni zindagi jiyo, aur doosron ko jeene do 🙏

Like Magnet Like Magnet
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You just want to know how I have been living my whole life.
Cool

Chennai Super Kings Chennai Super Kings
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naam h khoka and asking about how to live with less money😂

Deal Cadet Deal Cadet
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Your spending should be based on your earnings. Always try to save some money. We dont know when we need money. Living month to month is not good. Sacrifice anythinh to save some money. If you have chance keep looking for another job which has better pay or any other source of income.

When I used to live in Bangalore at PG some of them used to go to software work on weekdays and do delivery work in the weekends to save some money.

Earning less is not bad as not everyone can have knowledge but try to overcome with other source of income whenever you can.

Never fall short of money or debt trap. Once you’re in debt trap with no proper income then it leads to many consequences.

Only option is to work hard hard hard, spend less less less. Be happy with what you have:)

Deal Lieutenant Deal Lieutenant
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wackophant wrote:

Sorry to say this bro,

I don’t know how much your advice is relevant to this topic.

please stick to the topic.

I was going through all of the good comments and your comment made me sad..

If you want to support/bash some political Party please use some other discussion which is relevant.

Peace bro..


Thanks for showing him the mirror , as usual he was trying what he does on Dd.

Deal Subedar Deal Subedar
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Being frugal should not be linked to your income. One will be forced to live frugally when they dont have more money by default.

It is a lifestyle which some prefer to follow. It’s above addressing your needs adequately/without compromise and not falling prey to your wants.

Simple examples are like, you can buy a 6-7 lakh car or a 20 lakh car – both meet your requirement – and you go for the lower priced one which meets your need (example – Mr Premji used a Ford Escort for a long time and moved to a Corolla later, while he could have gone for a merc or a Rolls-Royce).

Now my example: my mobile phone is working perfectly alright. It’s been 2+ years, has 8gb RAM, SD 855, 256gb storage. Still I am tempted to click on the buy button everytime I see a deal here. I have managed to successfully resist myself from buying myself a new one as for now. I should cultivate such resistance to prevent impromptu spends on unnecessary things. This is my definition of being frugal.

Elite Elite
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I remember a story…

An actor was on a train journey to some place. He was with a journalist interviewing him in the train. He was sad due to whatever reasons. The train reached some station. From his AC compartment the actor saw a very poor man sitting on the floor of the platform with his family. They were playing with some scrap and laughing & giggling and the entire family was enjoying and were genuinely happy. The actor said to the journalist, “look at them they are so happy even if they don’t have anything in life. I wish I was happy like them for once”. The journalist said “would you like to switch places?”. The actor said “nah, I am good

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