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If you live independently, sound monthly expense management kind of become a necessity. After all, all your expenses and investments are at your discretion.
While all you need to do is follow the same old formula – follow a budget, keep track of your shopping, avoid exorbitant expenses while dining out, etc., many people often fail at maintaining this every month. If you are in search of a magic trick that can help you with this, it lies in how you use your debit card.
Let’s explore how!
How prudent debit card use can help your finances
As India is fast moving towards a cashless economy, tracking expenses and managing your investments is now easier. But when you use a debit card wisely, it not only makes tracking payments easier but also unlocks many other benefits.
Using the right debit cards perfectly complements sudden travel plans, takeaway dinners, and other things typical of an independent lifestyle. At the same time, debit cards also give you ways to save money on these transactions. Let us find out how.
- Budgeting
A monthly budget is the first step in money management. Regular use of debit cards will help your budget in at least two ways –
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- Firstly, you can funnel your expenses through a single outlet. Your money outflows will be documented in one place, i.e. your savings account But if, for example, you pay cash for groceries, auto-pay your utility bills, and use a credit card for shopping, you will end up monitoring multiple money outflow channels.
- Secondly, debit cards give an updated picture of your budget. In the earlier example, budget monitoring would become a challenge if you choose to use cash alone and exclusive use of credit cards would pile up your outstanding. Using a debit card,however, keeps your monthly budget manageable and your financial position realistic.
- Save as you eat
63% of people aged 30 years or under order food delivery at least once in 90 days. If you fall into this bucket, your IDFC FIRST Bank Debit Card can get you 15% off on Zomato orders. Visit IDFC FIRST Bank Debit Card Offers to know more.
- Dress up for less
With the IDFC FIRST Bank Debit Card, you can save up to Rs 1,000 on your Ajio or Myntra shopping. Furthermore, a 10% instant discount at Tata Cliq will save you money across all shopping categories.
- Household purchases in check
From a flat Rs 50 off on hyperlocal delivery app Dunzo or Rs 100 off on Swiggy Instamart, regular use of IDFC FIRST Bank Debit Card can save you money on everyday household shopping.
- Travel savers
Make sure you save while travelling with your IDFC FIRST Bank Debit Card. Get up to Rs 1,200 off on domestic flights, up to Rs 6,000 on international flight bookings, up to Rs 4,800 on hotel bookings, and Rs 500 on bus tickets when booked through Yatra.
- Staying protected
IDFC FIRST Bank Debit Cards also relieve you from basic insurance needs by providing complimentary insurance coverage against air accidents, personal accidents, purchase protection, and lost cards as a part of debit card benefits, subject to the bank’s terms and conditions.
- Points in the right direction
The right debit card can give you credit card-like reward points to further increase your savings. The FIRST Rewards program brings you up to 10X reward points on regular debit card use, including bill payments. Points can be redeemed in just two clicks.
A quick round-up
With prudent debit card use, you can manage your money wisely, keep track of all your expenses, and enjoy living independently stress-free. Choose from a range of debit cards, such as IDFC FIRST Bank Debit Cards and unlock a world of offers and rewards immediately. Open a bank account online with IDFC FIRST Bank today and unlock exclusive reward points for more savings.
