Tamil Nadu   

This family cuts down savings

M. Murugesan and his family

— Photo: E. Lakshmi Narayanan

The soaring inflation and prices have made Murugesans, who live in Peramanur here, to cut down the savings to meet the rising expenditure.

They have started allotting more for groceries and transportation in their budget, and less for savings.

“We earlier used to save at least Rs. 4,000 a month for the future of our two daughters.

But we are now able to set aside only Rs. 2,500 to Rs. 3,000 a month as savings, says Mr. Murugesan, who is running a medical shop.

The family allots a major share of their income for buying provisions. Vegetables cost almost double the amount now. The prices of products such as toothpaste, soap and nutritional drinks have gone up several folds, Chitra, his wife points out.

The family has cut down the expenses on a lot of things.

We have started spending very less on entertainment and stopped eating in the hotels, he said.

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