We all know “Saving money is earning money”, but staying in country do you know simple ways by which we can save money in India? You need to trust me because you are going to save more than thousands of rupees now with these simple ways.
These are simple and easy ways we could have even mistakenly ignored many times in past and lost some money. But now I am sure you are going to save thousands of rupees in daily, weekly and monthly run.
19 Best and Simple Ways to Save Money in India
1.Save Money on Electricity
How many times have you left lights and fans running when no one is in room? Well, I have done many times and I accept it. I have even sometimes kept running my A.C. just to make sure when I enter in my room it should be cool and comfortable, bad habit? Hmm.
In past there were few months where my electricity bill or recharge did crossed more than 7k.
Try to switchoff most of electrical appliance when they are not required. I would also suggest to go for florescent or LED bulbs as compare to regular light bulbs, they are also very helpful in saving money in long run.
This is one of best money saving Tip which can save money in India on electricity bill or recharge wherever you stay in country. Correct?
2.Cut the Middle Man Out
Think about a purchase or a work where we take help from a broker or any agency to get our work done. We have to give some fees to these middle man for that work. Try to cut it down.
When I was purchasing my home I denied taking help from any broker instead I did everything myself and believe me I was able to save lacks of rupees.
Read: How I Saved 35 Lacks while buying a House in India
3.Stick to Your Monthly Budget
Making a monthly budget and Sticking to it is not an easy job, but trust me it is not so difficult also. Once you started for a month, it will continue automatically for next month and you will realize you are making a track record of your monthly expenses.
Note down your monthly expenses, there will be some expense that needs to pay in cash, some from online banking (like EMI,FD,RD etc..) and some via debit or credit card.
Keep a record, but make sure keep it is easy and simple. Check for any gap where an extra money was lost which could have been saved. Trust me it may looks time taking and cumbersome job but it is worth trying, Try it and see results yourself.
4.Save Money On Vacation Expenses
Who don’t like to travel to a beautiful destination, in fact we all love travelling. Travelling and creating some beautiful memories are one of our best times in our life.
But some of these travels also costs us too much on our budget. Be it mode of transport for travelling, stay in hotel when traveling
We can save thousands of rupees on our Vacation expenses, like on ticket booking, Hotel rooms, Free stuffs etc..
Read : 14 Great and Simple Ways on How to Save Money When Travelling and Vacation
5.Save Money on Your Vehicle Fuel
Have you ever tried Carpooling or using office shuttle or cabs for transport purpose, if yes did you ever noticed how much money you were able to save with this? Fuel prices are increasing day by day, making difficult to save money in India when using own Vehicle every time.
I used to drive office by my own Car and it used to cost me around 6K for an month, when I started using Office shuttle and Cab my expenditure on fuel dropped by 50%.We can in fact try using public transport also wherever possible, this will also help us save some money.
6.Eat Home Cooked Food
Two benefits Money saving and Good health. Eating once in a while or on some occasion is good thing, but when we do it too often we definitely loose extra money and thus health too.
Try eating home cooked food as much as possible and also try to take lunch from home to your office. There were few times with me too when for 2 weeks I had lunch outside, it costed me around 1K.
I tried my best to take lunch and some snacks from home and you believe it I did saved some money. On a long run it saved me around 3K for a month and almost 36K for a year.
7.Save Money in India with Health Policies
If you have not taken any Health policy for yourself and family then I would say you are not a right track for planning to save money when required. This is one of best way to save money in India when we need it.
Health emergencies can come anytime and unnoticed. Remember Medical field is going very costly and still raising. We have many medical policies available in market. You can visit policy bazar and compare policies as per your requirement.
8.Save Money on Mobile Phone Usage
Many times we wonder whether we are on Prepaid or Postpaid are we really paying enough than we consume services.
I am not going to advise you to switch to Prepaid or Postpaid, but I am going to ask you to use mobile plans which is best suitable for you. Yes for some reasons Prepaid is better than Postpaid and in some cases vice-versa.
Being on prepaid, You can save money in India on recharge as well.
So explore, whether you have Airtel, Vodafone or Jio connection.
Requirements defer from person to person. But make sure once you have explored enough for a plan then think if this is going to save some money than the present plan you are having currently, better try for a month and see results.
9.Two Plus 1 Offers
We all have come across with offers like 2 plus 1 free or buy 3 get 1 free. Avoid those. These are really good market techniques. Ask yourself do you really need 4 of them? Not really.
Stick to your plan and needs. You can buy another piece indeed if you have requirement.
10.Save With Cashback
Cask back are good ways to save money on purchase. Check before any transaction whether there is any cashback offer on your Debit or Credit card, try to avail maximum benefits. I was able to get good amount of cashback on my HDFC debit card on purchase of AC this summer.
Likewise use money wallets like Paytm to get cashback as possible.
My paytm cashbacks:
11.Save Money in India On Income tax
This should be the most discussed topic of saving money from Income tax or probably how to save money in India from Income tax. We should check where we can save our taxes thereby investing still in better ways.
Check your HRA,80C, 80D, 80E section.
80C covers LIC premium, PPF, FDs, Sukanya Samridhdhi Scheme etc..
Likewise 80D includes Medical insurance and Top Ups
Plan your investment in better ways to save your tax.
12.Book Travelling Tickets in Advance
We all know the dynamic fare now a days keeps on increasing while our travel day comes nearer. Not only airfare but now a days you see dynamic fare for trains keeps increasing too on selected trains and routes. We should plan and save money in India while travelling anywhere.
If there is no urgent requirements then why not better plan in advance and save thousands of rupees.
13.Use Rewards From Credit and Debit Cards
We all have Debit or Credit cards having some offers and or Reward points when we use them for transaction.
These points will keep on increasing as per Card policy with transactions you do. Points needs to be Redeem within one Year or they gets lapse, you must check your reward point duration.
These reward points can be redeem for variety of offers depending on business partners.
I use my Debit Card rewards many times as Cashback and also on Fuels:
One of my friend redeemed his rewards points in making a luxurious Vacation trip with family.
14.Your TV DTH Plan
It was time when I got my Airtel DTH installed and I wanted to have all HD channels weather I see them or not. So straight forward I took a plan which was costing me Rs650/- per month, indeed costly enough.
I moved to make my plan by selecting only channels that I or my family prefers. I noticed my monthly expenditure on DTH plan came down to 50%.
There is another way where I see we are going to save our money, now a days Netflix and Amazon Prime providing better prices for online services like Movies and TV channels in less than price for a year than any DTH service could provide. Check out yourself.
15.Work More and Stay Busy
We all are here to follow our dreams and to achieve something. So stay busy, work and follow your dreams.
When we stay busy enough we hardly get any time where we think about some extra expenditure out of regular activates. And definitely we never get a room for unnecessary things.
16.Online and Offline Shopping
Benefits of doing Online shopping is to explore more options compare prices and use offers like cashback to save money.
You can use Wallets like Paytm to avail more options on offers apart from you Cards.You can also save money in India with other shopping apps.
Check product online and compare best prices use amazon.com , flipkart.com or snapdeal, if you want it to buy physically at any shop you can try bargain as you already having idea on price of that product as noticed online.
Bargain definitely works on every tourist or most of commercial places, so keep trying, it is one of best way to save money in India while doing shopping anywhere.
17.Try Low Cost Activities When Meet With Family and Friends
We really want to celebrate it grand and outside whenever we meet with our family or friends. Weather it is a Mall or a play arena it often costs us much more with a group.
Instead try low cost activates, like fun games at home and self-cooking. It is worth try to spend some quality time too.
18.Staying on Rent, Make Sure it is Not Very Costly
What is benefit when you are staying on rent and paying a hefty amount equal to any EMI installment?
Better find cheaper place to live and save some money for your dream home.
Rent keeps on increasing every year too, so you can save money in India with cheaper rent amount and can do some valuable savings for future.
19.Read on Personal Finance Management and Never Give Up
Read some best of books on Personal finance management, we all are not perfect and a habit is not formed in a day.
Keep trying, if this month was not a success as per the plan, we have a record and we can find rooms where we missed it. Next month could be better.
CALL TO ACTION!
Saving money is no art.These are Simple ways by which we can save plenty of our hard earned money. All above Tips can let you save money in India every month which collectively is a big amount when considered for a year.Try these tips and see if it makes some differences in your monthly budget.
Also help me to know in comments if i missed anything.
SHARING is CARING. If you LOVE this post Please SHARE for someone.