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Tamil Nadu
Inflation has eaten away his savings
| Nuclear family finds it very difficult to cut expenses |
Expenses going up: R.Kasi Viswanathan, Lodge Owner. —
R. Kasi Viswanathan, a 59-year-old lodge owner, has been trying hard to save money in the past couple of months for investment but has failed.
“The increase in cost of essential commodities has left me with very little of the Rs. 20,000 monthly income.”
Given the judicious use of groceries and other household items, the two-member nuclear family finds it very difficult to cut expenses.
“There is nothing to cut down because there is not an extra tumbler of coffee being consumed,” says Mr. Viswanathan.
The family that spent Rs. 180 for a kg of coffee powder a year ago now spends Rs. 300 a kg.
Such cost escalation has left the family divert the money meant for investment to meet the 25 per cent increase in expenses.
On the fuel front too Mr. Viswanathan has very little option left as the expenditure is only Rs. 500 a month.
“It cannot be further cut down, as I mostly move between house and lodge, besides making trips to market, etc.”
The absence of savings and rise in prices of steel and cement has forced the lodge owner to postpone taking up repair works in houses he has rented out. And, also delay annual trips.
CompromiseThe only compromise the Viswanathan family makes is in vegetables by opting for the cheaper vegetables.
He says a drumstick cost him Rs. 4, much above the normal rate, and so did beans.
The lodge owner says given the rise in prices of essential commodities, it will be difficult for a middle income group family to make ends meet for fewer than Rs. 10,000 a month.
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