How to Save Money from Salary in India
Saving money from your salary is not about how much you earn, but how well you manage it. Whether your monthly income is ₹10,000 or ₹50,000, small adjustments in your spending habits can help you build savings. Start by tracking every rupee, cutting unnecessary expenses, and setting clear saving goals. You can also use a budget planner Excel sheet to make the process easier.
Why Saving Money from Salary Is Important
- Emergency situations like job loss or health issues
- Goals like travel, home purchase, or business start-up
- Reducing debt or avoiding credit card usage
- Peace of mind and financial freedom
- Builds control over unnecessary lifestyle expenses
Need help building your safety net? Read our guide on how to build an emergency fund.
Also Read: Rich Dad Poor Dad (Marathi)
How to Save Money with ₹20,000 Salary
Even with ₹20,000 monthly income, you can save up to ₹4,000–₹5,000 if you plan well. Use this breakdown:
| Category | Amount | Percentage |
|---|---|---|
| Rent | ₹6,000 | 30% |
| Food | ₹4,000 | 20% |
| Utilities/Bills | ₹2,000 | 10% |
| Savings | ₹4,000 | 20% |
| Miscellaneous | ₹4,000 | 20% |
Tips:
- Share rooms to reduce rent
- Cook at home instead of ordering food
- Use cashback apps and public transport
- Cancel paid apps you don’t use
How to Save Money with ₹10,000 Salary
It’s tough but possible with discipline and support. Here’s a possible breakdown:
| Category | Amount | Percentage |
|---|---|---|
| Rent | ₹3,000 | 30% |
| Food | ₹2,000 | 20% |
| Utilities/Bills | ₹1,000 | 10% |
| Savings | ₹2,000 | 20% |
| Miscellaneous | ₹2,000 | 20% |
Tips:
- Live in PGs or with family
- Track expenses daily using apps like Walnut
- Limit online shopping and subscriptions
- Start a small side gig for extra income
Where to Keep Saved Money – Bank Options
Saving is one thing, but where you keep it also matters. Here are a few options:
- High-interest savings accounts (like best savings account in India)
- Recurring deposit (RD) with fixed returns
- Emergency fund in separate digital wallet or account
- Liquid mutual funds for short-term goals
- ClearTax RD Calculator to calculate maturity value
Clever Ways to Save Money
- Use reward and cashback cards wisely
- Buy groceries in bulk with friends or flatmates
- Make annual insurance payments instead of monthly
- Use budgeting apps like Walnut or MoneyView
- Download free Google Sheets Budget Template and track expenses weekly
You can also check money management tips from SEBI for trusted advice.
Salary Saving Table for ₹10K to ₹50K
| Salary | Rent | Food | Bills | Savings | Misc |
|---|---|---|---|---|---|
| ₹10,000 | ₹3,000 | ₹2,000 | ₹1,000 | ₹2,000 | ₹2,000 |
| ₹20,000 | ₹6,000 | ₹4,000 | ₹2,000 | ₹4,000 | ₹4,000 |
| ₹30,000 | ₹9,000 | ₹6,000 | ₹3,000 | ₹6,000 | ₹6,000 |
| ₹50,000 | ₹15,000 | ₹10,000 | ₹5,000 | ₹10,000 | ₹10,000 |
Use this as a base and adjust based on your priorities.
Best Apps and Tools to Save Money
- MoneyView – Track, budget, and get reports
- Walnut – Auto expense tracking
- Google Sheets – Build a personalized tracker
- ClearTax Salary Calculator – See how much you can save
- YONO SBI and Kotak 811 – Setup auto-debit for saving
FAQs – People Also Ask
How to save money from salary in Hindi?
You can use apps that support Hindi or follow the same rules using paper-based budgets. The 50/30/20 rule works in every language.
How to save money from salary in a bank?
Open a recurring deposit or use a second savings account. Automate the transfer every month after salary credit.
How to save money with ₹25,000 monthly salary?
Split your income: ₹12,500 for needs, ₹7,500 for wants, ₹5,000 for savings. Adjust based on your city and lifestyle.
What percentage of salary should I save?
Minimum 20% is a good start. If you’re debt-free or living with parents, try saving 30% or more.
Summary
Start with whatever you can — even ₹500 a month is a beginning. Saving is not about luck or high income; it’s about habit and intention. Track your spending, avoid emotional purchases, and use simple tools to stay consistent. Over time, these small habits will help you build financial stability and freedom.
For more guides like this, explore Moneyphobia’s personal finance section or download our free budget tracker.
