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.
