{"id":12454,"date":"2023-08-18T14:36:24","date_gmt":"2023-08-18T09:06:24","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=12454"},"modified":"2024-08-09T13:43:06","modified_gmt":"2024-08-09T08:13:06","slug":"6-smart-ways-to-save-money-from-salary","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/","title":{"rendered":"How To Save Money From Salary? 6 Smart tips"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69e7ddbd651c9\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69e7ddbd651c9\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/#6_Smart_Ideas_to_Save_Money_from_Salary\" title=\"6 Smart Ideas to Save Money from Salary\">6 Smart Ideas to Save Money from Salary<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/#Plan_your_budget\" title=\"Plan your budget\">Plan your budget<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/#Determine_ways_to_reduce_spending\" title=\"Determine ways to reduce spending\">Determine ways to reduce spending<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/#Put_your_savings_to_action_through_investment\" title=\"Put your savings to action through investment\">Put your savings to action through investment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/#Leave_no_room_for_debts\" title=\"Leave no room for debts\">Leave no room for debts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/#Save_that_salary_bonus\" title=\"Save that salary bonus\">Save that salary bonus<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/#Make_timely_EMI_payments_to_avoid_penalties\" title=\"Make timely EMI payments to avoid penalties\">Make timely EMI payments to avoid penalties<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/#How_can_I_save_money_if_my_salary_is_less\" title=\"How can I save money if my salary is less?\">How can I save money if my salary is less?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/#What_is_the_30-day_savings_rule\" title=\"What is the 30-day savings rule?\">What is the 30-day savings rule?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/#How_can_I_save_50_of_my_monthly_income\" title=\"How can I save 50% of my monthly income?\">How can I save 50% of my monthly income?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/#How_much_money_i_can_save_from_Salary\" title=\"How much money i can save from Salary?\">How much money i can save from Salary?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/#Interested_in_how_we_think_about_the_markets\" title=\"Interested in how we think about the markets?\">Interested in how we think about the markets?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">When we talk of savings, we talk of creating savings from your monthly income. Many\u00a0 of us have very little to save considering we have to meet most of our expenses from our monthly salary.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Typically, salaried employees should spend 50% of their salary on living expenses, 30% on entertainment and lifestyle, while 20% should go towards savings.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">However, this general rule of thumb might not be applicable if you set some short-term or long-term goals. For instance, if you plan to purchase a house in the near term, you might have to put aside more money towards your savings plan.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>What to do with your first salary?<span style=\"font-weight: 400;\">\u00a0 The answer lies in devising a strategic saving plan, which conveniently addresses your financial goals.<\/span><\/p>\n<p>&nbsp;<\/p>\n<blockquote><p>Wealth for your financial goals from just \u20b9500 per month. <a href=\"https:\/\/kuvera.in\/dl\/v2\/?redirect_to=dashboard-invest\/all\/invest-sip?source=blog\">Start SIP<\/a> now.<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h3 style=\"color: black; font-size: 20px;\"><span class=\"ez-toc-section\" id=\"6_Smart_Ideas_to_Save_Money_from_Salary\"><\/span>6 Smart Ideas to Save Money from Salary<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<p>Here is the 6 Smart Ways to save money:<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Plan your budget<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Determine ways to reduce spending<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Put your savings to action through investment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Leave no room for debts<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Make timely EMI payments to avoid penalties<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Save that salary bonus<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Saving money might be a bit overwhelming, but it is not entirely impossible. If you have been wondering how to save money from your salary, consider the following pointers:<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Plan_your_budget\"><\/span>Plan your budget<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">To start with, you need to keep track of all your expenses. One of the most crucial steps to <\/span>saving money in a bank <span style=\"font-weight: 400;\">involves keeping tabs on where your money is going. Consider creating a strict monthly budget and maintaining the excess salary amount in a separate account. This will help you to avoid making unnecessary expenses, thus, creating more ways for savings.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Determine_ways_to_reduce_spending\"><\/span>Determine ways to reduce spending<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">If you cannot save as much as you require, know that it is time to cut back on your expenses. Record your monthly fees in whichever way you find most feasible &#8211; whether using pen and paper, an excel spreadsheet, or a free online spending tracker application. After that, identify the unnecessary expenses, and know where you can curtail your spending.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>One of the most convenient tips for saving money is eliminating non essential expenses. To do so, you can follow these practices:<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Search for free activities: <\/b><span style=\"font-weight: 400;\">Consider searching for community event listings for your daily dose of entertainment. Here, you can find several low-cost entertainment options.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Evaluate the cost of eating outside vs. cooking at home: <\/b><span style=\"font-weight: 400;\">Try to make most of your meals at home. If you do not have the time to cook, consider searching for local restaurant deals.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Assess recurring charges:<\/b><span style=\"font-weight: 400;\"> Keep a tab of your monthly subscriptions and cancel those you do not use regularly.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Wait a bit before you buy:<\/b><span style=\"font-weight: 400;\"> You may often engage in impulsive buying, which leads to overspending. This is something you must try to avoid. If you wait a few days, you might realize that the particular item you were willing to buy was something you wanted rather than what you needed.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Save electricity:<\/b><span style=\"font-weight: 400;\"> Try to save electricity, not only for the environment but for your savings plan too. This will ensure that you do not have to pay substantial money towards the electricity bill every month.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">You can also reduce your expenses towards transportation, mobile recharges, grocery shopping, credit card spending, and more.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><b><a href=\"https:\/\/kuvera.in\/dl\/v2\/?redirect_to=dashboard-invest\/all\/invest-sip?source=blog\"><img loading=\"lazy\" class=\"alignnone wp-image-29759\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-1024x256.png\" alt=\"Start SIP on Kuvera\" width=\"600\" height=\"150\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-1024x256.png 1024w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-300x75.png 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-768x192.png 768w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-1536x384.png 1536w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-2048x512.png 2048w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/SIP-banner-150x38.png 150w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/b><\/h4>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Put_your_savings_to_action_through_investment\"><\/span>Put your savings to action through investment<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">The purpose behind saving money is to secure your financial future, while staying prepared for untoward emergencies or sudden expenses. The cash you have in hand, which is readily available in your savings account is called cash liquidity. However, a mistake many people make is to retain the majority portion of their savings in the bank savings account. Since, the interest earned on the savings account is negligible, the worth of money goes down due to inflation.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Hence, keep only a bare minimum amount in the savings account to fulfil your financial expenses every month. Then, make a list of your financial goals and categories them as short term (upto 3 years), medium term (3-5 years) and long term ( more than 5 years). <\/span><span style=\"font-weight: 400;\">Here are a few popular examples of financial goals:\u00a0 Save taxes, buying a personal vehicle, funds for a dream destination wedding or vacation, owning a house, creating a fund for your child\u2019s education, or planning for retirement. <\/span><span style=\"font-weight: 400;\">Based on these financial goals, you can invest in any of the following options:<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Fixed deposit (FD): <\/b><span style=\"font-weight: 400;\">\u00a0The money for your short term goals and your emergency fund (for any unforeseen emergency like a job loss) should be kept in an FD that inflation proofs your money. Since your investment horizon is short-term, this is an ideal option to avoid short term market volatility risks. Ideally, one should invest at least 20% of savings in FDs. Not only are the interest rates higher than the savings account, fixed deposits are a safe and secure investment option. <\/span><span style=\"font-weight: 400;\">You can either choose to open an FD account with banks or highly rated NBFCs.<\/span><a href=\"https:\/\/kuvera.in\/explore\/fixed-deposit\/c\/all\"><span style=\"font-weight: 400;\"> Kuvera has multiple FD options to choose from<\/span><\/a><span style=\"font-weight: 400;\">, and you can book an FD within minutes.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h4><a href=\"https:\/\/www.kuvera.in\/dl\/v2\/?redirect_to=dashboard-invest\/fixed-deposit?source=fd_blog_banner\"><img loading=\"lazy\" class=\"alignnone wp-image-29666 size-full\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2024\/04\/FD-Banner-9.4-03.png\" alt=\"FD Up to 9.40% on Kuvera\" width=\"600\" height=\"150\" \/><\/a><\/h4>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Mutual funds:<\/b><span style=\"font-weight: 400;\"> The rest of your savings, for medium to long term goals, can be invested in mutual funds. While the risk is higher because these are market-linked, mutual funds also have the potential to give your disproportionate returns.<\/span><span style=\"font-weight: 400;\"> And since you have time on your side, this helps you navigate market volatilities better. You can choose from various kinds of mutual funds based on your risk appetite. A better way to invest in mutual funds is to use <\/span><a href=\"https:\/\/kuvera.in\/goals\"><span style=\"font-weight: 400;\">Kuvera&#8217;s Goal Planning<\/span><\/a><span style=\"font-weight: 400;\"> feature. This is an intelligent calculator that tells you how much to invest, and also recommends ideal investment options based on your risk profile.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Pro Tip:<\/strong> Let us tell you about a smarter option for liquidity than a bank savings account.\u00a0 You can consider investing in <\/span><a href=\"https:\/\/app.kuvera.in\/explore\/save-smart\"><span style=\"font-weight: 400;\">Save Smart through Kuvera<\/span><\/a><span style=\"font-weight: 400;\">. It is a unique basket of mutual funds that allows you to earn returns from liquid funds of top mutual fund companies in India. What\u2019s more, you won&#8217;t have to lock in your money for long durations with this option. Instead, enjoy instant liquidity of up to Rs. 2 lakh a day and withdraw the remaining amount in just one business day.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Besides these, a few other investment options worth considering are EPF\/PPF, stocks, and National Savings Certificate (NSC).\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Leave_no_room_for_debts\"><\/span>Leave no room for debts<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Learn how to manage salary by not falling into a debt trap. Remember,\u00a0 your ultimate goal is to save and earn interest on your savings. Thus, avoid taking loans unless it is necessary.<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Save_that_salary_bonus\"><\/span>Save that salary bonus<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">After receiving a salary bonus, most employees find it tempting to spend the reward right away. However, if your ultimate goal is to create substantial savings, consider putting that bonus aside.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Make_timely_EMI_payments_to_avoid_penalties\"><\/span>Make timely EMI payments to avoid penalties<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">If you have outstanding credit card payments or loans, consider paying their EMIs on time. This is because missed EMI payments can attract heavy penalties, squeezing out a significant part of your monthly salary. Moreover, missing monthly instalments negatively impacts your credit score. You can consider opting for the auto-debit facility or set reminders to avoid defaulting on loans.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>Now that you know how to save money from salary, do not shy away from applying the tips mentioned above to your daily lifestyle. These tips will help you reach your savings goals as you create your strategy.<\/p>\n<p>&nbsp;<\/p>\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span>Frequently Asked Questions<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"How_can_I_save_money_if_my_salary_is_less\"><\/span>How can I save money if my salary is less?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Here are a few tips to save money if you have a low income:<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Create a monthly budget<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Plan your income and expenditure<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce unwanted expenses<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Take advantage of sales and discounts and avoid eating outside<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"What_is_the_30-day_savings_rule\"><\/span>What is the 30-day savings rule?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">As per the 30-day savings rule, you avoid impulse purchases for 30 days. Instead of spending money on an item that you might not need, you give yourself 30 days to think whether it is an absolute necessity or not.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li aria-level=\"1\">\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"How_can_I_save_50_of_my_monthly_income\"><\/span>How can I save 50% of my monthly income?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If you want to save 50% of your monthly income, you must create a tight budget and follow it stringently. Besides that, you can also create avenues for additional income through blogging or by getting a second job.<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"How_much_money_i_can_save_from_Salary\"><\/span>How much money i can save from Salary?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/li>\n<\/ul>\n<p>The 50:30:20 rule suggests that 50% of your income should be spend on essential needs, 3o% on the wants and 20% should be utilised to build a emergency corpus.<\/p>\n<p>&nbsp;<\/p>\n<h4 style=\"color: black; font-size: 18px;\"><span class=\"ez-toc-section\" id=\"Interested_in_how_we_think_about_the_markets\"><\/span>Interested in how we think about the markets?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>Read more: <a href=\"https:\/\/kuvera.in\/blog\/category\/zen-and-the-art-of-investing\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Zen And The Art Of Investing<\/strong><\/a><\/p>\n<p>Watch\/hear on YouTube:<\/p>\n<div class=\"embed-container\"><iframe src=\"https:\/\/www.youtube.com\/embed\/LpT36NlFLgk\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<p>&nbsp;<\/p>\n<p>Start investing through a platform that brings goal planning and investing to your fingertips. Visit kuvera.in to discover Direct Plans and Fixed Deposits and start investing today.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When we talk of savings, we talk of creating savings from your monthly income. Many\u00a0 of us have very little to save considering we have to meet most of our expenses from our monthly salary.\u00a0 &nbsp; Typically, salaried employees should spend 50% of their salary on living expenses, 30% on entertainment and lifestyle, while 20% [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":11,"featured_media":12461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[118,99,593],"tags":[176,964,963,965],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Save Money From Salary ? 6 Smart Tips<\/title>\n<meta name=\"description\" content=\"Save Money is all about keeping track of where our money is going and controlling all about expenses. Start save money by starting a monthly plan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kuvera.in\/blog\/6-smart-ways-to-save-money-from-salary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Save Money From Salary ? 6 Smart Tips\" \/>\n<meta property=\"og:description\" content=\"Save Money is all about keeping track of where our money is going and controlling all about expenses. 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