How to save money in Bangladesh

 How to save money in Bangladesh 

The cost of living in Bangladesh is $463, which is 1.59 times less expensive than the world average. Bangladesh ranked 183rd out of 197 countries by cost of living and the 124th best country to live in. The average salary after taxes in Bangladesh is $307, which is enough to cover living expenses for 0.7 months. Discover best places to live in Bangladesh. Family of four estimated monthly costs are 118,588.91৳ without rent. A single person estimated monthly costs are 34,059.88৳ without rent. Cost of living in Bangladesh is, on average, 53.38% lower than in United States. Rent in Bangladesh is, on average, 88.13% lower than in United States.

Track Your Expenses

This may not be a direct action to save money, but tracking your regular expense will eventually help you to reduce your spending in an organized way.

Install any expense tracker app on your phone and update it regularly. At least three months later, you can see your income and expenditure trend. You can then easily find out the area you need to put the concentration in to reduce expenses. You can even sort out the budgets for a different area of your spending and set a budget limit on the app to track the spending. This way, you can control your spending, and you will definitely start seeing the savings in your pockets in no time.

Save money and  house rent :

·         Now, if someone wanted to pay less for rent on their apartment, they could look outside of the city centre, which would drastically lower the price of the one bedroom apartment to only approximately $90 dollars per month, plus the $38 dollars for utilities, which adds up to $128 dollars per month. This, unfortunately, is still far out of reach of those earning only $68 dollars a month. However, living outside the city centre likely means that every day they would require some sort of transportation in order to get to work. The average cost of a monthly pass for local transport is around $12, and the cost for a taxi every day, is drastically higher. This added cost means that even living outside the city, would still cost a total of $140, again over double the minimum wage in Dhaka, just for shelter.

 Save your Electricity bill :

• Always switch off the fans, lights, and ACs when you leave the room for a while.
• Avoid cooling down the AC to a freezing cold level, rather use your fan with AC.
• Get laundry services from the laundry house instead of ironing at home or iron at home after 10 PM .
• Use a desk lamp for study rather than using a room light.
• Use energy bulbs/LED bulbs instead of CFL lights.
• Don’t use the dryer in your washing machine, use the sunlight to dry up clothes.
• Less use of  blender, oven, etc. save huge amount of money .
• Turn the PC/Laptop when you are not using it or keep it in sleep mode.
• Get a solar panel for in the time of power outage. It’s cost-effective than using a generator.
• Try to rise early in the morning and go to bed early.

 

Save money by on line shopping :

 

Research before buying that  will save your time and money. Shopping online is easy now. You can even take advantage of Cash on Delivery. That means you don’t have to pay the money before getting your products. You will pay once you get the products in hand.

And the more exciting thing is, you can get a lot of discounts by using coupons, vouchers and in the time of sales.

Get money by using Digital Wallet

Digital wallets like bKash, Rocket, Upay, iPay, etc. provide numerous offers of cashback, discounts, loyalty points, referral bonuses, etc. Every time you purchase anything through your digital wallet, you will get some of the cash back, or points that can be redeemed and spent.

Save your money during buying Food:

Try to prepare your meal at home. It is healthy and save ton of money . for variation your can go restaurant after researching , so you can enjoy your meal expanding less money. Every restaurant give discount on their special days or in special days , you can save money by taking their discount offer.   

When you feel like not cooking and craving for some restaurant food, give it a second thought to ordering online through food ordering apps like Foodpanda, HungryNaki, Pathao foods, etc.

These apps have discount offers and coupons to save you money from every order you make. This way, you can save the transport expense, your time and your energy as well. Not to mention, you can taste the same food you could at the restaurant plus have it in your home sweet home.

Pay the bill on time:

Never delay paying your monthly bills. Be it utility or others. Delaying will cost you more as fines. Set reminders and alarms within the deadline to pay the bills as early as possible. Use digital wallets to pay your bill. It will save your time , transport cost and energy.

Save your money during shopping :

If you use some tips you can save money during shopping

Do your research before going to market. Avoid AC market, fancy mall etc. things seem to expansive there. Collect information from where you can get quality item with low cost. Think about transport cost also.  

Whenever you are going out shopping, be it grocery or others, make a clean shopping list. Prepare it according to your need and necessity. Go to the shop and buy all the products according to the list.

This will prevent you from wandering around and picking up things you don’t Sit and think of your spending on unnecessary things every day. Make a list of it. Quit bad habits like smoking, drinking, chewing, etc. You will save loads of money at the end of the year or even months.

Do not overload your wallet with cash. Keep some cash at home and carry only the necessary amount on your wallet every day. This way you will easily avoid spending on unnecessary things you see on the streets and markets every day. To keep you on the safe side in time of emergency, keep money on digital wallets like bKash or iPay. When you are buying products that are to be used in long-term, especially electronic products, make sure you buy well known branded products.

This may cost you more than other average branded items but this spending is worth it. Branded quality products cause less trouble and do not require frequent maintenance. This will save your maintenance cost in the long run and you will be spending less on that product compared to the average ones with higher maintenance cost. Buy popular brand products because you can get maintenance service easily .

Do not overload your wallet with cash. Keep some cash at home and carry only the necessary amount on your wallet every day. This way you will easily avoid spending on unnecessary things you see on the streets and markets every day.  To keep you on the safe side in time of emergency, keep money on digital wallets like bKash or iPay.

Buy in bulk tips:

Try to find a nearby wholesale shop. You can buy items by wholesale price and  save your time, transport cost and energy  Buy in bulk daily product like soap, detergent, spices, rice, flour, salt, sugar , tea etc .

 Tips for festival shopping

Do you research at the beginning of year. Fixed your budgets for each festival. Buy things one or one and half month before festival it will save ton of money.  It is very common that products like clothes and other necessary items that are used in festivals experience a price hike during festival shopping seasons like Eid, New Year, etc.

Save your transport cost

Avoid rash hours for going outside. For office leave home one hours earlier.  Use  public transport  it is still the best option to save tons of money on transportation expenses. Walking and bicycle are healthy for you and also save money .

Getting a new car/bike and maintaining it would cost you heavily. If you switch to public transport instead, you may not find the luxury of relaxation, but you definitely will have more money in your pocket for crucial future usage. Within public transport, go for Bus/Laguna/Tempo, etc instead of rickshaw/baby taxi to save even more.

Get money by selling old product:

Look around you at your house. Surely you can find many things that you don’t use anymore. Furniture, phones, PCs, utensils, TV, recorder, collection items, electric gadgets, etc. Take a picture of the product, post an ad on social media or any classified advertisement site like Bikroy to sell it immediately. There are thousands of buyers waiting to buy the product from you. Sell useless items and earn money.

Save money on Mobile phone bill

A mobile phone is a basic need now. And we spend a good amount of money every month on our phone. We can easily control the mobile phone usage and save some money every month.

Here are a few things you can do to save money on your mobile bills.

• Use a prepaid connection instead of postpaid. It will limit your use of extra spending.
• Recharge little amount every time to control your usage.
• Do not recharge bulk amount; this will lead to towards spending more.
• Use bundle package offers from your operator to get the most of your money.
• Use internet offers that are regularly sent via SMS by your operator as regular internet package costs more.