Bangalore is capital of Indian state Karnataka and has emerged as a major IT hub of south Asia in the last two decades. More and more number of fresh graduates, senior employees and IT experts are quickly moving to Bangalore and with global economic boom; this moving has been somehow faster than usual. This sudden influx of rich people in city has caused inflation in the local prices and needless to say, cost of living in Bangalore in today’s time has become very high.
In Bangalore, general standard of living is very high which encourages people to spend more and more on food, entertainment, outings etc. People end up spending a lot as they fail to find most economical living areas particularly when they are new to the city. To save you from feeling uneasy in managing finances, following 10 tips will help in keeping your cost of living in Bangalore under check:-
- It should be your general target not to let accommodation expenses grow bigger than 20% of your earnings, it would be better if you can limit it to 15-18%. Accommodation eats the biggest chunk of every salary. A 3BHK flat in cosier areas of Bangalore i.e. Indira Nagar, Whitefield, Hebbal won’t cost less than 25 K a month in any case.
- To save money, you can move to more reasonable locations of city like Marathahalli, BTM layout, Ulsoor etc. These areas are not only cheaper to live but also they are not much far away from many of the work locations.
- If you are single, PG prove to be more economical rather than renting a flat. Most of the PG in the city offer good facilities like AC, Wi-Fi, 2 times meals, TV and washing machine(If you are lucky). In PG, you not only get an accommodation but also you don’t have to invest in the furniture, TV, fans etc. If you buy the furniture in rented flat, there will be problem while shifting the city particularly when you are young and your career needs frequent job changes.
- There is another local custom in Bangalore which generates difficulty for outsiders; they take an advance rent payment of 11 months from you. There is nothing to worry as the money is returned honestly as you leave, but sometimes you may get in some kind of hassle if you plan to leave the city at very small notice. So, if you are going to live there for 6 months or less, a PG will be the best option.
- Cost of living in Bangalore depends very much on your food arrangements and eating expenses come second in list after accommodation. If you have a family, cooking at home will be best; for saving money as well as protecting the health. Carry your lunch to the office.
- It has become a culture in Bangalore that people buy vegetable/fruits from street hawkers instead of going to vegetable market themselves. Hawkers charge much more money seeing the opportunity available. To save money, make a habit to go in vegetable market weekly or bi-weekly. Truly, its a good outing as well as a saving of 1500-2000 rupee per month particularly when you are a healthy eater and fruit consumption of your house is high. Madiwala Mandi and KR puram vegetable market can open your eyes in amazement with their prices.
- For bachelors, instead of eating at different restaurant everyday, monthly deals should be done with dhabbawalas. Many dhabas like Gyani da Dhaba, Sardar ji da Dhaba, Sharma Dhaba give 3 times decent veg meals for 3500 a month, costs may increase slightly if you are a non-vegetarian.
- Transportation is another area which takes a major part of the salary. First of all, always try to find a home near to your office. But if for some reasons, you are unable to find it, Bangalore has pretty good bus connectivity in and around the city. A bus pass typically costs 2400 rupees a month with unlimited rides. If some cab connects to your office, you should start cab service but only on sharing basis. Avoid autos as much as possible; autos in Bangalore are not same as they are in Delhi. You are going to get a major heartbreak with their costly autos if you are a north Indian. Rather than riding a car daily to work, make a habit to travel by bus. Share your car with the peers if someone else also happens to travel through the same route.
- As Bangalore is a city of youth, urge to spend on enjoyments will be pretty high particularly when you are young. But you should learn to control these urges early on. Weekly movie with a romantic dinner at some costly restaurant will very much increase your cost of living in Bangalore. Instead, to relax yourself, go to a scenic place like Lumbini gardens or just have a market ride across Commercial street or Brigade road. Remember, money saving is not only about sure shot techniques; it’s about a transformation in your psychology and lifestyle.
- Then, save the water and electricity. Not just for earth’s sake but also for your pocket. These bills seem so small that people neglect them entirely in the monthly budgets. But small things add up to save big. Use the resources optimally like an educated citizen should, recycle your garbage; sell the waste instead of throwing away. Reconsider your need of a domestic help maid; it can make a difference of 7-8 K. If things can work with a part-time maid, then it should be preferred. Always pay your bills on time so that you don’t pay late fee, over charges and connection cuts.
To conclude, it can be said that Bangalore is an awesome place to live, particularly the thick green plantation in and around the city makes the weather very pleasant and refreshing. It’s a city of all age groups; youths will get their hustle bustle and elders will find the peace. Cost of living in Bangalore is certainly higher than most of Indian cities like Delhi, Mumbai but it can be kept in control if above formulas remain in mind.