What is the best way to save money every month on a 30000 rupee salary?

Question

For salaried individuals with limited monthly income, saving consistently can be challenging. This question explores practical saving strategies, popular budget rules like the 50/30/20 method, and simple ways to build financial discipline without cutting essential expenses.

Answer 1

Saving on a tight salary is hard, but not impossible. Here’s a simple breakdown:

1. Follow the 50/30/20 rule:

• 50% → Essentials (rent, bills, groceries)

• 30% → Wants (entertainment, eating out)

• 20% → Savings & investments

On ₹30,000/month, that means saving around ₹6,000. If that feels like too much, start with even ₹2,000–₹3,000. The habit matters more than the number.

2. Automate your savings:
Set up an auto-transfer to another account or SIP on payday. If you don’t see the money, you won’t spend it.

3. Cut waste, not your lifestyle:

• Reduce takeout to 1–2 times/week

• Use UPI apps with cashback

• Plan weekly expenses in advance

Start small. Stay consistent. Saving is a skill — not a sacrifice.