Dhaka is Bangladesh’s capital and is full of various opportunities, and facilities to make your life even better. So, it’s quite obvious that the living cost here will be quite higher than in other parts of Bangladesh. The average price of various commodities along with the utilities like gas, and electricity have also increased manifold. In such a scenario, are you thinking about how to reduce the cost of living in Dhaka? If yes, just put an end to your thinking and read this blog to get your answer.
You can easily reduce your living cost in Dhaka with these tricks:
1. Try Walking to Close Distances
Have you ever noticed that when you start walking during heavy traffic and moving faster than the vehicles around you? If you haven’t done it yet, please give it a try. It will save you time and also money. Again, walking is good exercise, it will also benefit your health.
2. Avoid Buying Unnecessary things
Sometimes, it might happen that you’ve gone to a fair or have gone out shopping, and you’re watching some alluring items that aren’t necessary but feeling like buying them. Please try to avoid such a habit because it will keep you penniless during your hours of need.
3. Don’t Upgrade Your Phone Randomly
You’ll see this habit among many especially, among the young generation to upgrade their phones randomly without any necessities. They even use multiple phones at a time. This, in reality, is unnecessary. You can easily use a smartphone for 2 to 3 years or even 4 years if it doesn’t get out of order for any reason.
If you skip this habit you can easily save around BDT 10,000 to BDT 15000 in a year.
4. Consider Shifting to a Less-Costly Area
The living average cost is not the same in every part of Dhaka. Places like Gulshan, Baridhara, and Banani, are expensive areas. So, try finding and shifting to the areas that are less costly and help you save a mentionable portion of money every month.
If you want to know which area is budget friendly area for buying flat, then read out this article: Budget friendly area in Dhaka for buying a new flat.
But, if you are looking for a good place to live then read this article- Best place to buy a ready flat
5. Give a Pause to Hanging Out with Friends and Families Now and Then
In this hectic schedule of your day-to-day life, it might feel refreshing to hang out with your friends and families but that shouldn’t be now and then. If you occasionally, that can be okay. If you skip this habit of dining out whenever you need, you can a mentionable amount of money every month.
6. Apply Cashback Payment System
Nowadays, various types of merchant banking apps are available such as Bkash, Nagad, Upay, Rocket, and the like. You can pay for your shopping, online orders, and the like using these apps and avail of cashback offers of around 5% to 25%. Using these offers can help you save money.
7. Try Buying Minutes, Call Rate Offers, or Bundle Offers to Reduce Your Mobile Bills
Mobile operators in this country are giving several offers like minutes, special call rate offers, bundle offers, and internet offers. Sometimes, you might overlook such offers and get busy with your daily tasks, but if you pay attention to such offers and avail of them, you’ll be able to save some mobile bills.
8. Utilize Public Transportation
Consider utilizing public transportation, it will be a cost-effective transportation option. Many people nowadays are bicycling and this can be a cheaper and environment-friendly option than driving. Again, cycling is a suitable exercise for you and you won’t need to join a costly gym to keep yourself in shape.
9. Reap Benefit from Being Loyal
Have you ever thought that being loyal would pay you off? Then think now. If you can become a loyal customer of a shop or even better a shopping mall, you’ll get lots of benefits. Shops will be going to offer you good things, and let you know even there’s any offer.
Shopping malls will offer you a membership card, you’ll get special discounts and they will call you to inform you of the special offers and discounts. If you can avail of these special privileges, you’ll be able to reduce your living costs.
10. Stop Your Cigarette Smoking
Smoking is injurious to health. If you are a chain smoker you will spend more than 50 to 200 BDT per day. It goes to a thousand per month. If you can gradually put an end to this bad habit, you’ll be able to save the money you spend on cigarettes.
11. Try Online Grocery Shopping
Now, various online shopping apps are available. Just download one and start your online shopping journey. It will not only make your shopping convenient but also you can get rid of the habit of buying unnecessary items. You might have faced this type of situation many times in your life when you’ve gone shopping to buy necessary things but you’ve bought many fancy items which weren’t necessary at all. If you are foody, then you might get greedy to buy some bakery items, chocolate, or ice cream.
So, use online shopping apps to reduce your living costs in Dhaka city.
12. Utilize Your Negotiation Skills
If you have a mentionable negotiation skill, it’s going to serve you with various benefits like you can negotiate while reducing your house rent, product prices, rickshaw, bus, or taxi fair, and in many other cases.
13. Prepare a Budget and Follow that Strictly
Try to prepare a budget list every month and follow that strictly. This will help you a lot reduce your living cost in Dhaka.
14. Follow Health Tips and Be Healthy
The medical bill of doctors and costs of medicines will increase a lot if you can’t maintain good health. Try to do regular free hand exercises, if not every day at least 3 to 4 days a week. Drink adequate water to be hydrated. Don’t take street food, fast foods, or excess oily and spicy foods.
Wash your hands every day well immediately after coming back home. Take a shower and keep your clothes, and your whole home clean and disinfected. Follow all the health tips well to keep yourself healthy and keep your medical expenses short.
15. Become an Owner of a Flat and Save Money
If you can buy a flat by taking a bank loan you will be able to save your house rent every month. The money you’ll save from your house rent, you’ll be able to spend on other things or priorities. Again, you’ll think about various things before buying a flat like budget, location, facilities, and the like. As you’ll think about the location, you’ll try to take a flat near your office or kids’ schools, and adjacent to shopping malls, banks, hospitals, and the like, and thus you can save your transportation costs. By following these money-saving tips, you’ll learn how to cut down expenses without sacrificing your needs and wants.
Again, if you can buy more than one flat, you’ll be able to become a landlord by giving the other flats for rent and earning house rent from the tenants.
If you buy used flat then you can buy it at low cost and huge money save for this decision. But before that you need to know what are the advantages and disadvantages of used flats. Read this article to know- Advantage and disadvantage of buying a used flat in Dhaka
Read also: Reason to buy a flat in Bangladesh
Final Words:
Now, you must have become confident about how to reduce the cost of living in Dhaka. So, apply these techniques and save money for your future. If you have any queries or need assistance regarding flats, please contact Best – Tech Properties Ltd. We’ve ongoing projects in Uttara and Feni.
Frequently Asked Questions
Dhaka is Bangladesh’s capital city and is full of various opportunities, and facilities to make your life even better. So, it’s quite obvious that the living cost here will be quite higher than in other parts of Bangladesh.
Your monthly costs will be around BDT 141,078 without rent if you have a total of four members in your family. You’ll need around BDT 39,910 monthly to maintain yourself only without rent.
Generally, apartments and flats are the same. In American English, a collection of rooms on a floor of a big building is called an apartment. The same thing is called a flat in British English.
Of course, you can. Generally, it depends on the location and other amenities you’ll get from the flat. If your flat is in a remote area in Dhaka like Savar, or Dhamrai and doesn’t have that much-advanced amenities, it will have a low price than a flat with advanced amenities at a prime location in Dhaka like Dhanmondi, Gulshan, and the like.