N. Raghuraman's column: Become a winner by winning this 'Summer Challenge'

In this summer season, not only is the temperature rising, but the household expenses are also rising. People who had saved themselves from the 'panic buying' of new air conditioners or stabilizers have suddenly been besieged by new expenses. There has been a sudden increase in the purchase of the induction stove and its compatible utensils. Due to the shortage of gas cylinders, people were forced to adopt the option of cooking with electricity. This has spoiled the budget of the month at the outset. Not only is the electricity bill rising, but the real hit comes from the small daily expenses that we often overlook. In these hot days, the use of cold drinks, juices and glucose increases in our homes. Meanwhile, high prices of fruits like mangoes are also spoiling the budget. Opting for an AC cab instead of a simple auto-rickshaw to avoid the afternoon heat is also adding to the burden on our pockets. Cotton clothes in the growing heat have no longer become a luxury, but a necessity, demanding a large part of the budget. This time, along with seasonal inflation, the economic environment is also becoming challenging. Rising prices of food items, consumer durables and FMCG goods are making the common man feel 'poorer' than last year. The projected inflation rate of 5-7% will weigh heavily on the budgeting decisions. This will lead to a difficult choice between spending today and saving tomorrow. On top of that, the rising tension in West Asia is adding fuel to the fire. If this conflict dragged on for more than three months, the impact on fuel and supply chains will reach the kitchens of every home. While there is no immediate threat of a recession, the market slowdown cannot be ruled out. To escape the heat, many people think that they are saving electricity by going to the mall and enjoying 'free' AC. But this strategy often backfires. As soon as you enter the mall, the psychology of mindless shopping takes over. In the wake of 'end of season sales' and expensive ice cream sundaes, that 'free' AC is costlier than a house's all-day electricity bill. Management Tip: Our pockets are bound to be loose amid a shaky market and unpredictable inflation. Now the time has come when we should drink 'buttermilk by blowing'. That is, there is a need to be very cautious about every small expense.