Cash crunch? Here are 15 tips to wisely manage your routine finances in such dire times

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Ways to go about reining in day-to-day expenses when facing a pay cut or a loss of income. Image Credit: Stock image

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Take 10 per cent of what you bring in, put it aside and let it accumulate. Image Credit: Stock image

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Pay rent, school fees, utility bills, grocery, fuel and then set aside the surplus. Image Credit: Stock image

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Use some of the fringe benefits on your credit card. Image Credit: Stock image

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Optimise vehicle fuel bills by combining more than one essential trip. Image Credit: Stock image

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Leasing a car makes more sense in the short term versus buying a car. Image Credit: Stock image

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Once salary is credited, pay bills through auto pay to avoid fines. Image Credit: Stock image

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If phone bills are out of control, seek pre-paid instead of post-paid. Image Credit: Stock image

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Be mindful of the use of your calling minutes from the beginning of the month. Image Credit: Stock image

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Plan well for big monthly savings. Image Credit: Stock image

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Bulk buys give far better deals financially. Image Credit: Stock image

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While planning your costs for clothes, spread the expenditure over months. Image Credit: Stock image

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Draw up a budget on the number of times you are likely to eat out and set up a cash ceiling. Image Credit: Stock image

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Avoid holding onto more than one credit card. It make you vulnerable to fall into major debt traps. Image Credit: Stock image

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Its often recommended that you set aside funds for a rainy day. But how much? Image Credit: Stock image

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Put 50 per cent of your monthly savings into a separate savings bank account. Image Credit: Stock image

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Invest at least 10 per cent of your monthly income into a plan like mutual funds, stocks or bonds. Image Credit: Stock image

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If you are not able to do this, you may need to consider other means of income as well. Image Credit: Stock image

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Seek to save by using discount coupons at your local hypermarket! Image Credit: Stock image

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Preferably, stick to one supermarket to avail long-term savings in loyalty programs. Image Credit: Stock image

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Let's look at some crucial money saving ideas while renting or buying a home in the UAE. Image Credit: Stock image

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You could also rent a home in a location nearer to your children’s school or your place of work to save on transport costs. Image Credit: Stock image

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Opt for a residential area that is cheaper than the expensive downtown area in Dubai. Image Credit: Stock image

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Get-togethers are good as long as it does not come at the cost of your financial goals. Image Credit: Stock image

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If it’s a singles or couple’s party, draw up a budget and stick to the limit. Image Credit: Stock image

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Cash crunch? Here are 15 tips to wisely manage your routine finances in such dire times

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Cash crunch? Here are 15 tips to wisely manage your routine finances in such dire times

More From Your Money

Do multiple bank accounts help you manage money better?

Send money home smarter: Score savings by delaying remittances to November-end!

UAE money transfers to UK, Europe - time it right, save big in November

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