Homemakers also referred to as housewives, are the managers of the family. Unless in the case of rare exceptions such as a recent Bollywood potboiler named “Ki and Ka” featuring Kareena Kapoor Khan and Arjun Kapoor, where the husband donned the homemaker mantle, the homemaker is almost always the wife.
Homemakers have, by far, the toughest management job in the world. They must manage within a budget (more often than not), and the ad-hoc nature of the expenses coming their way means that they have to be extremely smart and cautious. A school picnic, son’s fractured arm, daughter’s friend’s birthday – an expense could come from the most unexpected quarters without any notice.
While homemakers have the most underrated and thankless jobs, we believe it is a very tough act, often with very less or no support. As we approach Women’s day, I wish to salute the homemakers and would list down a few tips which they may find helpful.
1. Savings on Grocery: Most homemakers procure grocery for the entire week. A bit of planning could lead to a significant saving. In today’s world, where convenience is at the tip of her fingers, she could use apps such as BigBasket to store a recurring grocery list. She could understand patterns and buy more non-perishable stuff with less money when there are offers available. This can help her to save money on grocery by not only availing offers but also ensuring that she doesn’t over-stack and waste money on excess purchase.
2. Savings on utility bills: As she controls the house and most appliances, ensuring that she switches off the TV, refrigerator, washing machine, lights, fans, AC, etc. when not required can bring the power bills, and cable/ D2H bills down. By doing so, she can ensure not only good green practices that contribute to nature and society, but she can also significantly bring down the amount spent on utility bills, thus leading to considerable savings.
3. Using Money Management Apps: Using money management apps such as PayTM and Freecharge on her mobile, she can ensure further savings on utilities, grocery bills, etc. by availing the offers and discounts that such apps provide while customers make payments through them. Also CouponRaja offers deals and coupons for Freecharge. She can also use e-Commerce platforms such as Amazon to buy household items for her and family at discounted rates to ensure that she ends the month with a good saving.
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4. Learning a new skill: An efficient homemaker will find a little “me-time” during the day. While it is difficult, but if she can positively channel this time to learn a new skill, she could use it to earn money. For e.g.: If she learns baking, she could use it to make and sell cakes and earn an income every month.
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5. Freelancing: Every homemaker also possesses some skills owing to her education and upbringing. If she writes well, she can leverage the internet to get some freelance assignments for herself. It helps her to not only earn money but also put her skills, which she has acquired with her hard work, to good practice.
However, it is not all about saving. If a homemaker can invest these savings into appropriate asset classes, she can earn a great return on investment.
You might be wondering how?
The husband and children of most homemakers leave their office before 9 am. The stock market opens at that time. A homemaker could make some time to track the stock markets, invest her savings or money earned in good stocks and get a handsome return on her investments over time.
I will leave you with an inspiring blog by one of the homemakers about the stock markets titled “Stock Market ani me” (which translates to Stock Markets and I).
While it is in Marathi, the language spoken in Maharashtra, it is a good repository that chronicles an exciting “stock market” journey of homemaker Bhagyashree Phatak.