Introduction
Saving money while living on a low salary can feel impossible, but it isn’t. With small changes, smart choices, and a bit of discipline, you can start building financial stability even with limited income.
In this post, we’ll share simple and realistic steps for salaried employees, students, or anyone earning under ₹20,000/month to start saving money in India.
1. Track Every Rupee
Before you start saving, know where your money goes.
Use a notebook, Excel sheet, or apps like Walnut or Good budget to track every expense — from chai to rent. You’ll quickly identify unnecessary spending.
2. Start with Just ₹10 or ₹50 a Day
You don’t need thousands to start saving. Set aside ₹10, ₹20, or ₹50 daily using a Piggy Bank, Paytm Wallet, or Gold SIP app like Jar.
Small savings daily = Big impact monthly.
"It’s not how much you save. It’s that you start saving."
3. Cut Non-Essential Expenses
Cancel unused OTT subscriptions, limit eating out, and switch to prepaid plans.
Ask yourself: “Do I need this, or just want it?”
Every ₹200 saved is ₹200 earned.
4. Follow a Modified 50-30-20 Rule
On a low salary, the standard 50-30-20 may not work. Try this breakdown:
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70% for Needs (rent, food, bills)
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20% for Wants (shopping, entertainment)
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10% for Savings
If 10% feels too much, start with just 5%.
5. Automate Your Savings
Open a Recurring Deposit or enable auto-debit plans.
Let your bank deduct ₹300–₹500/month automatically after your salary is credited.
What you don’t see, you won’t spend.
6. Earn a Little Extra
Look for part-time income opportunities like:
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Freelancing (writing, design, social media)
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Selling products on Meesho or Amazon
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Tutoring online or offline
Even ₹1,000/week in extra income boosts your savings by ₹4,000/month.
7. Set Micro Goals
Don’t try to save ₹1 lakh immediately.
Start small:
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₹500 emergency fund
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₹1,000 for recharge
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₹2,000 for investments
Celebrate small wins — they lead to big ones.
8. Build an Emergency Fund (Gradually)
Start putting aside ₹100–₹200 every week.
Once you reach ₹5,000–₹10,000, you’ll have a buffer for tough times.
Final Thoughts
Don’t wait for a salary hike to start saving.
Start today, start small, and be consistent.
Even ₹20 saved daily = ₹7,300 a year.
That’s the beginning of wealth-building.
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