How to save costs and survive learn from those who do it

The economic slowdown and subsequent market crash has affected everyone from long-term investors to young urban professionals. Recently, few MBA students in Delhi were driven to kidnapping a teenager for ransom to pay off losses incurred in the stock market crash.



MiD DAY caught up with short-term investors in the city and discovered everybody's top priority was saving, however small. While homemakers have cut down on their shopping and kitty parties, students have parked their motorbikes at home, and are cycling their way to college to save on fuel. Here is what they shared:

Yashraj Akashi (22), student, Podar College:
I had saved up Rs 3 lakh from my part-time assignments and pocket money. I invested the amount in the share market and lost everything. I had plans to buy a new bike, but my dreams have crashed with the Sensex.
Loss: Rs 3 lakh

Anurag Dhadve (20), student, Matunga:
I had saved up my pocket money and invested in the stock market. The crash has forced me to ride a bicycle to college instead of my bike. I can't afford petrol prices. I have cut down on my gym expenses too. Earlier, I hired a personal trainer for Rs 1,000 per month, but now I pay just Rs 400.
Loss: Rs 17,000

Priya Shah (35), housewife, Ghatkopar:
I AM part of a group of housewives that regularly traded in the market, but all investments are on hold now. Extra shopping is out and so are kitty parties. I have even asked all my friends to hold their investments.
Investment: Rs 18,000

Vikram Gangakhedkar (22), CA student:
I haven't suffered any losses in the market crash, and am holding on to the scrips I invested in. As the market improves I will invest again. For now, I have reduced making unnecessary phone calls to save money.  
Investment: Rs 1.5 lakh