Ways to Reduce The Cost of Living in Dhaka City

Dhaka is the capital of Bangladesh and is also known as a city of magic. So if you are living in an expensive city like Dhaka, you should be more tactful if you want to achieve financial goals. In this article, I am going to guide some ways to cut your cost of living and achieve your financial goals at light speed.

Avoid a Ride in a Short Distance

1. Avoid a Ride in a Short Distance

Have you ever been walking down during rush hour in Dhaka city and noticed that you're moving faster than all the transport stuck in traffic?

Walking is good for health so if you do it, no doubt it will be a good decision as well as you can save your money.

Stop Upgrading Your device

2. Stop Upgrading Your Device Randomly

We often hear that people say they need a new phone. Especially our young generation who buy a couple of phones within a year.

If you take care of the phone that you are currently using I am sure that it should last at least 2 or 3 years before it decides to stop working. Thus you can save at least 10 to 15 thousand takas in a year.

Shift to a Less Expensive Place

3. Shift to a Less Expensive Place

As we all know that in Dhaka city Gulshan, Banani, Baridhara is an expensive place to live in. But if you shift to a less expensive place you could find less house rent and many other cheap facilities.

So If you are willing to save some money each month, then move to a less expensive place and save your thousands every year.

Use Cashback Payment Method

4. Use Cashback Payment Method

Bkash, Nagad, Rocket is a renowned company for online payment systems. They often provide some cashback offers such as 5 to 25% instant cashback in payment methods.

So if you use these types of apps you can easily catch these offers and save some money.

Avoid Dining Out

5. Avoid Dining Out

Restaurants' lucrative offers and advertisements penetrate us for dining out. One of the biggest expenses we cut from our budget was restaurants.

If you are a job holder you can take away lunch from home. Instead of dining out for just about every meal, we can cook it at home. It has a positive impact on your financial goals.

Use Public Transportation

6. Use Public Transportation

Using public transportation is a great idea to reduce your living cost. Bicycling can be a cost-effective alternative to driving that also provides free exercise, so you could cut your expensive gym membership.

Be Loyal

7. Be Loyal

If you become a loyal customer of a store or service company you might be able to qualify for a discount.

Reduce How Much You Spend Cigarette
8. Reduce How Much You Spend Cigarette

If you are a chain smoker you will spend more than 50 to 200 BDT per day. It goes to a thousand per month.

Even something as simple as reducing the amount of money you spend on a cigarette can help you reduce your cost of living.

9. Online Groceries Shopping

One of my biggest weaknesses is food. So whenever I go there I am helpless to all the tasty temptations around the store. My bank account is in danger. Because I head straight to the bakery section and take away as much as I wish.

So, If you are like me and want to avoid overspending at the grocery store, then you should buy online groceries. Thus you won't be tempted by the smell of fresh cheesecake and hotdogs etc.

Thus you could reduce your cost by avoiding buying Oreos, Chocolates, and Swiss rolls. Uffff.... now I’m hungry.

Online Groceries Shopping
Be a Good Negotiato
10. Be a Good Negotiator

In the city, if you are a good negotiator you could easily minimize house rent, taxi rent, and shopping. So, be a good negotiator and reduce the rate on every bill – even your rent.

11/ Follow a Strict Budget: Make your budget list and strictly follow it. Don't spend more than the budget list.

11. Take Care of Your Health

Medical bills are a large number of our living costs. If we want to reduce the cost of living we should take care of our health. Eat well and do regular physical exercise at least three or four days a week.

Always remember that cheap doesn't mean worse. Your tactful idea can reduce your living cost. Save something for your better future by doing this you can't survive in a megacity like Dhaka. By following these money-saving tips, you’ll learn how to cut down expenses without sacrificing your needs and wants.

Take Care of Your Health