Resolutions for 2011

24 The Economic Times Wealth, December 27, 2010 BLearn &Keep FEBRUARY Takelunch to office APRIL MAY Use discount Joina car pool Taking lunch to office can help you save a neat packet. If a meal costs z100 and you eat out about 15 days in a month, you are spending close R1,500 on lunch. coupons Don't throw away the discount coupons that come attached with menu leaflets of fast food chains. They can help you save up to 200 a month on your food, grocery and other bills. Start a car pool and see your savings zoom. If you travel 20 km to office and back, you spend about 23,000 a month. If you join a pool with two others, you can save up to 22,000 every month. JUNE Give tuitionto JANUARY Quit smoking Save big by kicking the habit. If you smoke cigarettes worth 40 a day. you can save 1,200 a month by quitting. You also save on life and health insurance. your child Save the money you pay for your child's tuition by teaching him yourself. This might not be possible for higher classes but you can save 1,500 a month for at least 4-5 years. Bonus: stronger family bonding POTENTIAL SAVINGS 325.3lakh MARCH Make your ACefficient OTENTIAL SAVIN 3.2 lakh POTENTIAL SAVINGS POTENTIAL SAVINGS 332 lakh POTENTIAL 31.7 lakh Four simple measures can improve the efficiency of your AC by up to 15%. Ensure it is in the shade, filters are clean, s between the windows are SAVINGS 20.2lakh POTENT SAV gaps sealed and glass panes have a dark film. This can help save up 10 a day during summers. र11.6ath RESOLUTIONSFOR 2011 Imagine earning 71.54 crore in your lifetime by making 12 simple resolutions. Okay, not all of these resolutions are simple and we don't even expect you to make all 12. Choose any three or four on this page and you will add a hefty sum to your retirement corpus. Like most New Year resolutions, the ones listed here are about behavioural changes-amending a habit, modifying a routine. The savings will be small initially, but swell over time. The gains will not only be financial. These resolutions will also improve your health (see February, July, November), increase bonding with the family (June) or help save the environment (December). Happy and wealthy New Year. JULY Cut down on eating out Every time you go out for dinner with your family, you spend a minimum of 2800-1,200. By cutting down even one such dinner outing in a month, you can save a cool 1,000. OCTOBER Jogyour way to health NOVEMBER Avoid coffeebreaks Health is wealth but you need not blow it away at the gym. Instead of spending 1.000 a month on a gym membership, jog your way to good health in the neighbourhood park. Too much coffee at the cafe is not good for your financial health. Cut down on the number of trips by even two times a month and you can save 300. SEPTEMBER Optimise car mileage POTENTIAL SAVINGS 16.8 lakh If your car is a gas guzzler, four simple steps can help improve its mileage by 10%. Check tyre pressure and clean filters regularly, use correct gears and don't drive with your foot on the clutch. If your monthly fuel bill is 23,000, you can save 300. DECEMBER Switch to CFL POTENTIAL SAVINGS lighting They may be costlier but super savers in the long term. A CFL lamp consumes 22% of the energy used by an ordinary bulb. If you replace 15 bulbs in your house with CFLS, you can save up to 250 a month. AUGUST 16.8 lakh Hire DVDS Spending way to0 much at the multiplex? One movie can leave you poorer by 800- 1.000 if you include snacks and drinks. Instead, you can hire a DVD to watch the movie. If you do that even once a POTENTIAL SAVINGS 35 lakh POTENTIAL SAVINGS 34.2 lakh POTENTIAL POTENTIAL SAVINGS SAVINGS {12.6lakh Calculations assume that the monthly savings from each २5alh month, you stand to save 750. THE ECONOMIC TIMES Text: BABAR ZAIDI Graphic: RAJ measure are invested in a scheme that earns 12% a year for 25 years. wealth - ----