Hello friends! Today, I want to talk to you like a friend or a guide—about something very important: smart saving techniques. These are practical tips that schools never teach us, but they are super useful in real life.
”Starting saving early not only builds financial security but also develops strong habits and mindset.”
Let’s be honest—many of us start earning money but don’t know how to save it smartly. We hear things like “save 20% of your income”, but nobody tells us how to actually do it in daily life. So, let me help you with that.
How to save money monthly
If children learn to save a little bit every month during their school days, it builds financial foresight and inner stability.
When introduced to money slowly and intelligently at a young age, it becomes less of a mystery and more of a tool. They begin to understand that it is not about becoming rich, but about sticking to their budget properly. A child who saves learns patience.They learn to take control of money.
So, if you’re ready to take control of your future, here are 5 proven and practical tips to help you save money every month—because even small steps today can lead to big peace tomorrow.
1. Start With The “Reverse Budgeting” Method
Schools often focus on academic subjects but leave out real-life skills like budgeting, saving, or even understanding taxes and credit. This is one of the biggest flaws in the education system because I believe everyone should develop an understanding of finance. It is an essential part of life.
In school, they never taught us how to budget in a way that works. Try this instead:
First, decide how much you want to save every month (let’s say ₹5,000).
Then, adjust your spending based on what is left.
This is called “Pay Yourself First” – always save first, then spend. Simple, right?
2. Use the “Needs vs Wants” Trick
Buying unnecessary items is a habit that many people fall into, and it can seriously impact personal finances. Some of the reasons why this happens are keeping up with trends or friends, “limited time offers!” “buy 1, get 1!” shopping to deal with emotions, etc.
It may not seem like a big deal at first, but over time, these small purchases can become a hindrance to achieving long-term financial goals like saving for emergencies, investing, or even living a debt-free life.
Before buying anything, ask yourself:
“Is this a need or a want?”
- Need = Rent, food, medicine, education etc.
- Want = Fancy coffee, new phone, online shopping etc.
Start writing down your expenses for 7 days—you’ll be shocked to see how many “wants” eat up your savings.
3. Use Indian Budgeting Apps
There are tons of budgeting apps available now, and they have really changed the game when it comes to managing personal finances.
They can help track expenses, set savings goals, and even remind you about upcoming bills. It’s amazing how accessible financial management has become.
They’re a powerful tool – but like any tool, they’re only as good as how consistently and wisely they’re used.
Nowadays, you don’t need to write things in a diary. Just use your phone.
Here are some useful apps made for Indian users:
- Walnut
- Money Manager
- ET Money
- Goodbudget
These apps track your spending and help you save without much effort.
4. Set a Small Saving Goal Each Month
Piggy Bank…Oh don’t laugh! Yes, Piggy Bank – it turns saving into a habit, and habits are much more powerful than textbook theory. When you physically put money in a jar or a small piggy bank, you realize the effort it takes to save, and this creates a real relationship with your money.
Schools may teach concepts like interest rates or budgeting, but they often forget the emotional and practical side of money. This is real-world knowledge, and piggy banks are like mini life coaches for that.
Don’t wait to become rich to start saving.
Start with a goal like:
- Save ₹50 per day (which is ₹1,500 per month)
- Save ₹100 every time you eat outside
- Save ₹10 coins in a piggy bank daily
Small efforts become big savings over time!
5. Learn About SIPs, FD & RD Early
Financial education can shape future generations. Teaching children about savings instruments from an early age can lay the foundation for financial discipline and better money choices when they grow up.
“I believe every child should be taught about basic financial terms like SIP, FD, RD from an early age to enhance their understanding of savings.”
You don’t need to be a finance expert to start investing.
- SIP (Systematic Investment Plan) – Invest small amount in mutual funds every month. Start with ₹500.
- RD (Recurring Deposit) – Monthly deposit in your bank that earns good interest.
- FD (Fixed Deposit) – FD is a type of investment in which you deposit a lump sum amount for a fixed period, and earn a fixed rate of interest during that period.
Even school kids can understand these if explained properly—but sadly, no one does. So, now you know!
Bonus Tip: Avoid “Emotional Spending”
Many times we buy things just because we are bored, sad, or stressed. This is called emotional spending.
Emotional spending isn’t just a “young people” thing Older generations may spend emotionally for a variety of reasons – such as loneliness, grief, or feeling out of control. It may feel good at the time, but the financial consequences are long-lasting.
It’s a financial habit that that hits across generations, whether it’s spending too much money to celebrate or making impulse purchases when you’re bored or anxious, emotional spending can quietly drain savings and rack up debt.
Next time you feel like buying something online, wait for 24 hours. If you still feel it’s worth it, then only buy.
Final Words: Start Today, Not Someday
Smart saving doesn’t mean becoming rich. It means using your money wisely so that you can use your money properly.
You don’t need a finance degree. All you need is some common sense, consistency and clarity.
So my dear readers, take a small step starting today. Maybe try saving ₹100 by not ordering food online tonight. That’s it. One step closer to financial freedom.
If you liked this post or learnt something new, share it with your friends or family. Let’s move forward together!