After struggling for two years to get his software company, Heulab, off the ground, entrepreneur Rakesh Kumar Gupta is now enjoying the fruits of his labour.

Heulab creates educational software that, thankfully for him, is still in demand despite the economic blues. Mr Gupta, 31, has a staff strength of about 45 in Science Park 2 and an office in Australia.

The bachelor does not feel too strapped for cash, but he is still scrimping and saving for that rainy day.

He thinks that day may just come: 'What is happening now seems like only the tip of the iceberg. There may be some effects next year, so I make an effort to plan and not to squander money.'

The computing graduate from the National University of Singapore lives in Katong with his mother and grandmother.

He said he used to enjoy a sumptuous variety of dishes during family meals.

After his family's grocery bills rose from $100 a week to $150 about three months ago, though, they now make an effort to cook simpler dishes and to finish all the food.

'My mother often calls to ask if I'm coming home for dinner, so she won't cook extra and waste it,' he said.

He still drives his Mercedes E200 to work, but makes an effort to avoid Electronic Road Pricing gantries and tries not to park in the Central Business District.

Parking can cost up to $2 for half an hour, he said. He takes taxis or public buses into the city during peak hours.

As for his business, he tries to save money, so that it will remain competitive. He used to travel to Heulab's Australian branch office often. Now, he limits the trips to when they are really necessary - and he flies economy.

He also monitors closely materials bought for the office - such as paper items - and makes sure there is no wastage.

'The Government says it will not cut down on education spending, but you never know. For now, I'm not spending on luxuries,' he said.

'I had wanted to buy a second plasma television set for my home, but I've reconsidered. Even at the recent information technology shows, which boasted special deals for electronics, I held off from buying anything.'

This article was first published in The Straits Times on October 5, 2008.