How to Save Money from Salary? 10 Practical Tips to Follow

By Myilraj G 

Updated on Jul 29, 2021



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Are you an Office Goer for a Fixed Monthly Salary and Struggling to Save Money from Your Salary? Then, read this article further.

Everyone depends on money to survive. Money is an undeniable source to fulfill our daily needs. To be stable and lead happy life money is crucial. Having small money will not fulfill all our financial needs and commitments. 

That’s why a job is valuable for all individuals. Most of the time routine occupations will not fulfill everybody’s commitments.

Freshers and young individuals need to choose the right career (or) job, then only consistent income-earning is possible.

On the other hand, avoiding unnecessary expenses is the best way to save money from salary.

Some people earn more money but they lack the skill of how to invest the money on the right things? It will land them with poverty. 

So, clever investment ideas help them to manage their financial responsibilities.

When the adults completing their study they are seeking the best job to earn money and there are multiple plans to save the money.

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Saving is the right choice. But how to save money and what is the easy way to earn money are the major complexities for individuals.

Now a day everything is important for our modern life. Earning a penny is not a simple one. There must be more stress and hard work behind earning 

To an extend, earning is only a problem for the people to lead their simple life. But nowadays, a job is the central problem even possessing good skills and talent are more and more in society.

But expecting a good job and earning a fulfilled salary is often an impossible one.

Importance of Job

Therefore, the unemployment issue is increasing day by day. Updating yourself with enough skill is the only choice to shine in the world.

In simple, living the fullest form depending on two poles one is money and the other one is a satisfying job.

Money makes all things is an undeniable fact in a daily scenario. Every stage of life solely depends on money rather than a job. 

In life, the initial phase of an individual seems to be very happy by the productive earning. 

But the power and potential of the individual are limited. When our age over to the fifties we will not produce more ability as before.

Hence, saving money from salary is the finest idea. Spending two-thirds of salary and take a single share for saving is the best option.

Read More: Money-Saving Tips: How to Save Money in this New Year?

Today’s scenario does not allow the concept of saving. The reasons like marriage, running a family and personal commitments, and children’s education all will dry the money without a place for savings.

That’s why many young people in the urban area are in need to start another stream of work.

This strategy is apt only to some sort of people due to their family circumstances and situation. The advancement of technology offering various opportunities to earn more money. But all people will not use them in a useful way.

Different Types of Jobs

  • Paying college fees, complete project works and research process are essential factors surrounded by the students.
  • For housewives, running the family under the monthly budget, paying for the grocery bills, house rent and other needs are squeezing one.

To manage all these needs finding the second way of income is the most suitable choice.

The advancement of the internet is offering more jobs. So, try them all that can earn money with simple ideas and save more money for your future.

To lead a better life, the use of money is an inevitable one. Housewives are doing art and craft as their part-time works from their homes.

Apart from the job or work option, business is a profitable way to earn money.

Read More: Profitable Startup Business Ideas for the People

Some sort of people dares to, undertake the business as the main part to earn a handsome amount of money.

Some people seeking secondary ways to lead a convenient life with free-time jobs and others with business as their money-earning platform.

The Choice Between Business and Job

In today’s world, a job is a highly competitive one to earn a good salary. Individuals should have some unique and thriving skills then only they can survive in the competitive job world.

There is only two option available after completion of studies whether to go for a job or simply start a business.

Going for a job is not a curse, lots of people are opting for job-going rather than starting their own business.

An employee has some skills, capabilities, hardships, discipline, and business mindset too.

Eventually, a good business can be perfectly handled by an employee. While working, making contacts with the clients and vendors is offering the superb opportunity to initiate the business.

Going for a job is not a bad option, skilled people are paid some higher salaries which equal to good business profit.

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10 Best Ways to Save Money from Salary?

There are lots of ways to save your hard-earned money. For this first step, we need to reduce unwanted expenses.

Indeed, another way we need to increase our income, some of the ways are mentioned here to save your salary in the best ways.

A person working in India earns an average salary between Rs.8000 (lowest) to Rs.1,20,000 (highest).

1. Lead a Minimalistic Life

Don’t put your money into anything which is out of your pocket, whether it is the food we eat, clothes, vehicles, house, traveling, or anything like that for fun.

Just lead a simple life. If anything like Electronic Gadgets, Vehicles, Clothes, and other things can easily drain your savings.

Spend the money only on essential needs. You are identified by your thoughts, not by the things you have.

So, just work on yourself whether it is physical, spiritual, and mental aspects don’t get influenced and spend more on them.

Just go with things only that will improve your performance and improve your ability and work capability.

2. Do Not Borrow or Take Loan

Don’t take loans or borrow money without thinking about the investment and returns. These are the major mistakes many of us commit.

Don’t lead a risk-free life but take a calculated risk. Just be very calculative in every action where money involves will save you from unwanted expenses.

Always think about return whether it is from buying a house, cars, or any other things that seem to be very luxurious.

You should know all the economics behind your action, you should take care that the loan does not charge you interest more than the return.

Before taking the risk of debt or loan these guidelines need to be considered. Take risks only for your career growth and development.

Many successful people simply met their huge failure by this miscalculation. So, it will be always the final option to be free from risk.

3. Find Some Additional Income Sources

Always looking for new things is quite a usual one to all, but exploring the use of the thing and its longevity for the future is also a considerable one.

This kind of exploration is the possible one to improvise the business as well as your asset.

Nobody knows if you have any money or other savings. While such consideration of the important situation, the income, and money savings plays a major role.

Besides, having an additional income is always a beneficial one. Especially, to face the hard circumstances.

Read More: Emergency Fund: How to Save Money for Urgent Needs?

Don’t get settled for one thing. It is not possible too. So, seeking a secondary way of earning is a must.

Whether it is online work or commission work always stick k with your secondary work which offers profitable income.

4. Budget Planning

It is very important to save money from salary, some portion of your salary you need to save for the future to use any unforeseen circumstances.

Planning your budget whether it is for school fees, tuition fees, rent, travel expenses, and other expenses is the best idea.

You cannot cut anything essential, but just try to avoid unnecessary luxury kind of expenses than essential stuff.

Plan your budget on a micro or macro level like daily, monthly, or yearly. If you follow this planning of budget, you will end up with good savings in the end.

Read More: 15 Best Budgeting Apps to Control your Finance

Whether it is a small family budget or a huge business, meeting the evaluation of finance and budget is crucial.

To avoid unnecessary expenses and making the right decisions, you can use Budgeting Apps that can help you save money from your salary.

5. Time Management

Always get involved with things and works that will be going to benefit you in terms of wealth, health.

When you have a priority set as per the time management then you don’t get extra time going for parties, holidays, and shopping.

Time and minute wait for none. Every second of spending needs to be useful. It is a good option for money earning and saving.

Nobody knows the future scenario, so it is the present time to plan your savings for your future time.

Completing the work with the right time management and make positive ways to earn with your potentiality.

On the one side when you engage in improving yourself and another side you will cut your expenses only based on luxury. This will also help you in money-saving.

Read More: 10 Best Productivity Tips for Working from Home.

6. Lead a Healthy Simple Life

Lots of people will not understand the connection between health and savings. But it is closely interconnected by today’s scenario.

While planning a budget the addition of the medical allowance is the finest one. 

Caring health is a healthy part of life. Nowadays health industry is earning more money due to the development of various health issues.

Being aware of health and multiple ways to protect health is an essential part of life.

Otherwise, it will cause lots of harm to your body as well as saving. The sound mind has a sound body. Other than your busy work or business schedule, spending a healthy space is mandatory for all.

Good maintenance of health is also a part of a simple life. To enjoy success free from stress and health issues are considering factors.

7. Avoid Carrying Plastic Money

Don’t use credit cards and ATM cards in shopping, these are all tempting means for spending extra money.

So be aware of using cards. I would not say carry cash instead of the card but if you are using it do it mindfully.

Set your limit for your monthly expenses. Pre-plan the expense as well as try to increase your savings.

Read More: Important Money-Saving Tips for a Future Well-being

According to the survey, if you are carrying cards boost the people’s mind and they will end up spending more. Whether it is a loose cash or plastic card you learn to save more money. 

Fix a certain amount as part of your savings. Try to maintain it as much you can. So, using plastic money is the best option along with your simple lifestyle.

8. Avoid Easy Option of Buying

Don’t choose the easy option, just do some survey before buying anything. When you do your research you will find that you have saved some bucks.

In window shopping, they sell some items at lower pricing or some at overpricing so make sure you need to pick the items which are cheaper than the market.

And another method is when you go out for buying anything, try to bargain the things at a low cost. 

Selling a product with an extra margin is a tactic. So, try to avoid such pitfalls to save money from your salary.

However, bargaining is the best way to know the real value of the product. But it will not suit all situations.

Before bargaining, you need to have some idea about the actual worth of the price. 

9. Brand Sickness

When you have a sickness for the brand then it will charge you extra, it does not mean that these are not worthy but it is the time for your saving.

Though the brand is the best option while comparing the cost and consideration of the lifetime.

The investment should be useful and the longevity of the product should be considered.

Spending money on such luxury things will easily drain your money. So, most of the time try to avoid brand sickness.

If you have brand sickness, then you should reduce your quantity to buy things within the available budget.

10. Balance Your Savings and Expenses

This is the foremost thing in saving money, you should draw a line between saving and expenditure. 

The saving of balance certainly depending on the previous process. All these processes result in maintaining a good balance.

It is a very thin line but you should avoid it crossing. For saving a salary maintaining a balance is a crucial process.

So if you will be able to maintain a proper balance between these two elements, then your bank balance will show you the result.

Try to apply the above-mentioned points into your practice then see the results, all these points are mentioned here are very feasible with today’s lifestyle.

Once you compare these elements to your monthly salary you will end up having more bucks than earlier.

3 Great Ways to Earn Additional Income

There are many ways to earn extra money, if you are good in any particular field (like Entertainment, Sports, Cooking, or any other field) you can get the benefit out of it in the monetary form.

The working and business individuals need to put serious effort to get additional income. 

Right now, the world of information technology covers vast fields as they all have been opened for earning money.

You can provide classes to the learners online or you can do some online stuff (like take part in surveys, SEOs, by clicking ads, formatting, translating the document, )

The direct Selling Industry is the preferable option. The weekend is a convenient time to complete this work.

But there are some fields to elaborate like Blogging, Affiliate Marketing, and Youtubing is helping to earn more money.

1. Start Blogging

Blogging is the best option according to the people who are very interested in the passion of writing.

This Blogging business is becoming a highly lucrative career choice. There are a lot of opportunities and hands full of earning are available through this blogging.

Read More: Really How Much Does It Will Cost to Start a Blog?

The development of Information Technology and social media promotions are offering more jobs related to blogging.

If you work on it with clear-cut content with keen development and delivery then you will gradually increase your worth as well as income.

Freelancing writers and Part-time writers are now earning considerable pay. So, try your luck in this blogging profession to earn more money.

2. Start Affiliate Marketing

Affiliate marketing is very popular nowadays. It is a performance-based business model where the individual acts as an affiliate to promote other merchant products or services.

A lot of content is now in Social media as the reach is also possible in the platform of the digital world.

Marketing is only the process of communication about the quality of the products and services to the customer.

Actually, in affiliate marketing, communication is done by the affiliate. They will get the commission after selling the services to the consumer.

Learn More: How to Start Affiliate Marketing Business?

Many people can earn money in the world of affiliate marketing. Retail, medicine, health care, web hosting, and software are some of the notable fields.

As per the volume of selling, affiliates will get more commission. The routine job will not offer this favor. Now multiple brands are searching the candidates for this marketing.

3. Start an YouTube Channel

YouTube has changed the whole business scenario, Youtube is now acting as the business hub. It is also competing with the Television from a viewer’s point of view.

Whether you are a traveler, singer, entertainer, standup comedian, anchor, culinary skill just create a YouTube Channel first. Then create and publish some videos into the channel and do some marketing.

Certainly, you will see the difference in views or subscriptions that will enhance your business online. In today’s world, YouTube is becoming a good source of income.

We can say that YouTube is providing a platform for showcasing your talent and you can earn big bucks. You can have your fan following, they will treat you as a celebrity.

Selection of niche and the interesting way of content submission offering a great future in the world of Youtube.

Simple use of a mobile phone is enough to start a successful channel and the Ad-sense leads to more earning.


Earning and saving are the two sides of your success. Many people know the importance of money but don’t know how to spend it?

In reality, earning is a simple one but saving money is an art. Whether it is old age or modern scenario saving money is crucial.

Earning is a hard one. A single point of income will not satisfy your basic needs. So, fill your needs with more free time works.

Saving a single penny is a more valuable one in bad circumstances. Think future and start your work today.

Hopefully, it will be a useful article for the people who are searching for the best and easy way to save money from their salary.

Start and earn more for your bright future. All the best!

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Myilraj G Author OnlineHomeIncome Blog

Hi, I am Myilraj.G!

Myilraj. G is a full-time Blogger, Content Writer, and Digital Marketer. A first-generation entrepreneur started his career as a blogger in 2013.

He helped 600+ individuals across India and a few outside India to start their blogging careers. He also helped SMEs to create their digital presence through his impeccable Digital marketing assistance.

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