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Old 22nd December 2008, 17:29   #46
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i have initiated some cost cutting measures at my co..basically electricity,couriers and commnuication costs.
paper cups/towels etc doesnt save much .i think they are mainly for driving a message across

also i have a few tips for avoiding a personal recession
you can add your own....

How to save Rs 20000 p.m/Top10 tips to avoid a personal recession


1-Stop shopping – things you can live without –like that new jacket the chic salesgirl said would look good on you ,new glares, the must have new cd of your fav band ,sneakers ,jeans etc .atleast rs 5000 a month
Im not even referring to LV handbags or jimmy choos

2-Stop having those endless cups of Rs 70 coffees at barista or CCday just because you have 20 minutes to kill.you can whip a mean frothy cappuccino at home .rs 1050 saved in a month over 15 cups a month

3-Reduce eating out twice/thrice to once a week .here;s the chance to really experiment on your culinary skills and show everyone too
Atleast Rs 2000 a month

4- Big nights OUT get translated to big nights IN. every night out a club is min Rs 4000 per couple if both drink . Find that friend you always ignored if he’s got a nice pad ,and lets parttayyyyyyy at his place.
Drink Indian instead of Imported .do you really need that rs 800 per peg of Grey goose
the entire frigging bottle of Smirnoff doesn’t cost that much+ plus you’ll be helping the economy but not your liver
two such outings cut down =rs 8000 per month

5-big nights out doesn’t mean big car procession .8 people going ,need not mean 5 cars going to a club ,just because everyone has one. take just 2
Plan your trips and pool up friends in day time
20% saving on your fuel bill will be atleast Rs 1000 per month

6-you don’t have to watch every movie that comes to town .movie outing at a multiplex for family of 4 costs rs 1000.I know Dark night is great ,but 4 times !!!!!grab a DVD instead .Trade with friends
One movie a month instead of 3 .will save Rs 2000

7-Supermarket trips need to be written out in advance and stuck to.No impulse buys it will avoid that expense of Rs 450 on a jar of imported flavoured margarine which you don’t know why you picked up and lies there on your shelf
Atleast rs 200 per week

8-This one for the ladies .do you really ,really need that spa,facial,massage ,haircut just before the big do on Saturday
No figures on this one .it could be 1000’s

9-do you really need to send that lame joke to 17 friends on SMS.trimming little extras & charges on your phone bill can save Rs 500 per month

10-Finally the obvious Credit card Bills , electricity & Travel.
pay off all cards to avoid the interest trap.on the other hand cash purchases done on card intead could rack up points
Switch off appliances /lights when you don’t need them
A simple experiment in a office of 60 people –switching off AC’s/lights during lunch time ,and when people are not around –yielded a savings Of Rs 13000 on a bill of Rs 87000 per month
And do you really think you’ve done so much work that you need to spend 1000’s on a 3 day break every month ..nnnnnaaaa
If you do ,go by road instead of by flight ,and stay somewhere cheaper .you can shop more ..
Now start again from point 1.
Cheers
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Old 22nd December 2008, 18:24   #47
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Sounds a hell lot out of our man I Will Teach You To Be Rich: Personal finance and entrepreneurship tips from a Stanford graduate

BUT
what about someone who already does more than those ten tips?
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Old 22nd December 2008, 20:56   #48
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Quote:
Originally Posted by phamilyman View Post
BUT
what about someone who already does more than those ten tips?
That includes me too.
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Old 23rd December 2008, 09:15   #49
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#11. Learn a new skill.
I just painted my Balconies myself. Saved myself a bit of money and had a lot of fun doing it as well.
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Old 23rd December 2008, 09:34   #50
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i think pt no 3 & 4 are big killers for most people.
and from what i've seen recently people are cutting down on both ,though mostly due to the terror attacks etc and less due to recession.
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Old 23rd December 2008, 09:40   #51
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Continue to my post earlier... My HQ just removed paper cups and saving on electricity but my Indian company is on Hiring Spree. Our company will hire 300 - 400 in next 3 - 5 months. Also my company has taken additional space in adjacent building to accommodate new comers.

All campus recruits already started their work. Right now strength in India is around 2000. It is looking everything fine as of now but 2009 is certainly watchful. Most of the things depends upon this christmas holidays in Europe and USA.

Something positive atlast. Curious to know the name of the company though.

I did not understand the Christmas holidays bit. How are these things dependent on their holidays

Just wanted to add that I am observing all those eleven steps but still feeling the heat. The only thing left to do is perhaps eat less and travel less to Bengaluru (my home)

Last edited by Jaggu : 23rd December 2008 at 09:45. Reason: Merged and thanks for observing our announcement section.
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Old 23rd December 2008, 10:26   #52
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I guess one point for all those working in sectors feeling the most heat i.e. IT, realty, etc. is to have at least 4-5 month's spending in the bank. There are chances that if your company says good bye, in these times you'll need at least 4-5 months to search for a new job. So you should be having a capacity to survive 5 months without pay!
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Old 23rd December 2008, 10:31   #53
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Quote:
Originally Posted by NitinGirish View Post
Continue to my post earlier... My HQ just removed paper cups and saving on electricity but my Indian company is on Hiring Spree. Our company will hire 300 - 400 in next 3 - 5 months. Also my company has taken additional space in adjacent building to accommodate new comers.

All campus recruits already started their work. Right now strength in India is around 2000. It is looking everything fine as of now but 2009 is certainly watchful. Most of the things depends upon this christmas holidays in Europe and USA.

Something positive atlast. Curious to know the name of the company though.

I did not understand the Christmas holidays bit. How are these things dependent on their holidays

Just wanted to add that I am observing all those eleven steps but still feeling the heat. The only thing left to do is perhaps eat less and travel less to Bengaluru (my home)
My company is one of the big giant of electronics and telecommunication industry in the world and hope this hint make you figure out my company.

Christmas holidays I did mention because during this period most of the sales happen in Europe and USA and other countries. Specifically electronics which range about 35 - 45 percent of yearly sales.

However, everyone is feeling heat of recession but during this time company has to work out in order to be on the level. I feel recession will mostly affects service industry (in IT Sector) where it depends upon other company for work.
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Old 23rd December 2008, 12:44   #54
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We somehow trudged on till October, but post Diwali the domestic sales have taken a very serious blow as all engineering and infrastructure companies (right down to the your local lathe machine turner) have shelved capacity expansion plans.
The recent rise in exchange rate of the dollar has helped us stay focussed on exports for the time being, but that too does not seem like it is going to hold for long term.

manson.
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Old 23rd December 2008, 13:42   #55
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Does anyone notice that while HR is handing out pink slips and delaying hikes/promotions right left and center - HR itself doesn't shrink in most companies? :|
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Old 23rd December 2008, 14:40   #56
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Quote:
Originally Posted by phamilyman View Post
Does anyone notice that while HR is handing out pink slips and delaying hikes/promotions right left and center - HR itself doesn't shrink in most companies? :|
Well, in my organization, HR was mostly outsourced and the first to be axed were the HR contract workers, followed by IT contractors from Indian biggies working on our premises.
So far, my organization has not touched, and has committed not touching, any employee. Rather, there are two major cost cutting measures being pushed -
a) 5 days mandatory leave to all staff across globe - depending on the criticality of their jobs; and
b) strict travel restrictions, employees are asked to utilize the unified communication tools to save costs.

This itself is reducing the operating expenses substantially. There is a strict hiring freeze, though inter-departmental movements (job rotation) are still being encouraged as always had been the case.

BTW, I too was in the doldrums during 2001 and can empathise with the folks who are sailing the same boat at this point of time. The troubled times of 2001 did not stay, nor would those of 2008-2009 be permanant
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Old 23rd December 2008, 17:10   #57
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I am from the food manufacturing sector. QSR (Quick service restaurants) have started slowing down, and has started reflecting on sales as well. The worst part is no-one is willing to invest as they are in financial trouble themselves or are in the process of bailing someone in trouble out.

At the moment it is all about survival and cannot expect much in the form of advance notices and such acceptable codes of conduct even from large corporations.

It is going to be a tight rope walk for all of us out there for a year at-least.
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Old 23rd December 2008, 17:29   #58
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Even my co is in the process of firing few people.. seems like its going to be on tough year for most of us! as Torque-ative mentioned.
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Old 23rd December 2008, 17:45   #59
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This thread is very depressing.

The place i work, we are seeing a fall in revenue in licensing by 32%. People are getting fired on a day's notice.

All are wondering who is next.

Hope everyone here does not have to go through any trauma because of this. The end of the tunnel is not in sight yet.
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Old 23rd December 2008, 20:23   #60
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I am in a very different kind of dilemma, I had to inform my company about my long term plans of migrating to OZ, had also asked them to hold my promotion & salary hike. The visa process takes approx 12-15 months, & I have till March '09 to move out or I am sure they will ask me to by then since I am a high cost employee & they need to justify the grade wise pay-out to me.
I had bought a 3bhk on loan (not that we really needed a 3bhk, but I got a good loan package @ 9.50% p.a. fixed rate for 20yrs). Now with the uncertainty of the visa, job & the rest I am planning on switching over to a 2bhk in the same society. I would be loan free & that would reallyyyyy ease my mind.
Anyone looking at investing in a 3bhk & relieving me of my loan???? Fully furnished place, 3yrs old construction, going cheap, in Pune at NIBM rd.
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