How Sharing Can Help You Save!

By Kishore Sabareeshan | October 16, 2018

Looking to save a few bucks? Sharing can be a great way to achieve that. Here’s how you can save more by sharing!

How Sharing Can Help You Save!

Want to save a few extra bucks for an upcoming special event, international travel plan or investment? The key to your needs lies in the simplest of things.

When we usually talk about saving money, we only think of Fixed Deposits, Savings Accounts, and other banking products, but we often forget the little things we can do on a micro level to boost our chances of saving money. More often than not, savings work out when we figure out a way to use our money optimally for routine activities. Today, we’re going to share some cool ways to save money by sharing… yes, you read that right! Curious?

  • Carpool or share a cab

Carpooling has become a popular trend in big cities now, thanks to congestions and high density of cars. Apart from reducing your carbon footprint, carpooling can really help you save on fuel. If you’re used to commuting by cab, you could consider sharing cab rides and save plenty on your bills. Splitting cabs with colleagues who live in your area work really well too!

Additional Reading: 7 Extremely Easy Ways to Save Money

  • Travelling? Stay at a shared accommodation

Today, we’re no longer at the mercy of travel agencies when it comes to making hotel reservations for trips pretty much anywhere in the world. If your estimated travel costs are looking too intimidating, you can consider exploring budget-friendly, shared home stays on websites such as Airbnb.

When you opt for a shared accommodation as opposed to an entire property for yourself, you considerably save up a good amount of money overall, so unless privacy is your priority, go in for a shared property and save some moolah!

  • Get furniture on rent

If you think about it, renting is somewhat like sharing stuff. With decent options available today for furniture rentals, you don’t need to invest in a cosy couch or dining table; you can just rent it and pay a comfortable EMI every month. This is perfect if you’re unsure how long you’ll live in a particular house – you can save yourself from the costs and stress involved in moving furniture whenever you shift houses or move out of town.

Additional Reading: Renting & Sharing: A Cost-Effective Way of Life

  • Heard of fashion rentals?

Now, we’re not telling you to cheap out on clothes by wearing your neighbour’s cast offs. We’re referring to clothes you may splurge on for special occasions. Let’s be honest-clothes bought for occasions are seldom worn, so why not get your outfit on rent? There are services today that will deliver the clothes you want to rent and also pick them up when you’re done. You can browse through the options available and rent a killer dress or suit for an upcoming event without busting your bank account.

  • Ordering food? Share the meal

Now, while we all have at least one Joey Tribbiani in our group who prefers ordering individual meals, sharing food can be fun and also work out very well, financially!

Let’s say five of you are planning to order food. Even if three of you are in the mood for North Indian food, you can always order enough bread and two main course dishes instead of ordering individually. This will make those dine outs more economical.

Additional Reading: Credit Cards for Foodies and Fun-Seekers

  • Running a business? Consider a co-working space!

If you run a start-up, cost-cutting should surely be on your mind. You can optimise your operational costs by choosing to build your office as part of a collaborative workspace. A booming trend in big cities, the concept of co-working spaces is allowing budding entrepreneurs to keep their capital expenditure in check when it comes to infrastructural and administrative costs. Most co-working spaces are equipped with power supply, housekeeping services, security services, internet and much more – the costs of all the above are split by the various companies that work out of there.

So there you go, folks. If savings’ your goal, sharing is the way to go. Once you’ve saved up enough, you can safely lock it up in a Fixed Deposit account.

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Category: Money Management

About Kishore Sabareeshan

Kishore likes watching documentaries and discovering indie musicians on Youtube. When he's not writing content for a living, he's usually snacking, playing with his cockerspaniel or looking for big cats in the wild.

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