60 Ways to Save Money in India

Saving money is crucial in today’s world. With rising living costs, finding ways to cut costs and save is essential. We Indians are known for completing projects economically, the best example I can quote is of our ISRO.

This article explores 60 ways to save money in India. There is no age limit for saving money so let your age not be a barrier ever in this case. Before exploring ways to save, let’s understand why it’s important at all.

Why Save Money? and How Important is it?


Saving money is a crucial habit with many benefits. By setting aside part of your income, you can build a financial cushion for achieving goals and managing unexpected expenses.

One main reason to save is to build an emergency fund. This fund covers unexpected expenses like job loss, medical bills, or car repairs. Having an emergency fund provides peace of mind and can help you prevent situations like bankruptcy.

60 Ways to Save Money in India

Ways to Save Money in India

1. Create a Monthly Budget

Creating a monthly budget is the first step to saving money. This will help you keep track of your earnings and spending during the entire month. This allows you to identify the major areas where you can cut costs. You can read budgeting tips for Indian households here.

2. Set Financial Goals

Setting your financial goals is another important step that you have to take to save money. Having a clear goal in mind, such as saving for a down payment on a house or building an emergency fund, helps you stay motivated and on track. It gives you something to work towards and helps you make better financial decisions.

3. Make a Shopping List

Making a shopping list before heading out to the store can help you avoid impulse purchases. It also helps you stick to your budget by only buying what you need. This can save you money in the long run by reducing unnecessary spending.

4. Buy in Bulk while Shopping Whenever it is Feasible

When you buy your things in bulk can save you money in the long run. Look for deals on non-perishable items that you use regularly, such as toilet paper or canned goods. Buying these items in bulk can reduce the cost per unit, saving you money over time.

5. Use Coupons and Cashbacks while Shopping

Using coupons and cashback offers can help you save money on your purchases. Look for coupons online or in newspapers, and sign up for cashback programs to earn money back on your purchases. These savings can add up over time, helping you save more money.

6. Compare Prices before you Shop

Comparing prices at different stores before making a purchase can help you find the best deal. You can use price comparison websites or apps to help you find the best price on the items you need. This can save you money by ensuring that you’re getting the best deal possible.

7. Use Public Transportation or Carpool

Using public transportation or carpooling can save you money on transportation costs. If you live in an area that has good public transportation, then consider using it instead of driving your own vehicle. If public transportation isn’t an option, consider carpooling with coworkers or friends to reduce your transportation costs.

8. Maintain Vehicle in Good Condition for Fuel Efficiency

Keeping your vehicle in good condition can help improve its fuel efficiency, which can save you money on petrol or diesel, or CNG. Make sure to get regular service and oil changes, and keep your tires properly inflated to improve fuel efficiency. This can reduce your fuel costs over time.

9. Switch to Electric Vehicles:

Switching to electric vehicles can save you money in the long run, despite the initial investment being high. In India, there are many companies offering electric vehicles, such as scooters from Ola Electric and Cars from Tata Motors and MG. The EVs can help you save a lot of money on fuel costs in the long run.

10. Consider Roommates or Flat-Sharing for Housing if you are Bachelor

If you’re single, consider having roommates or flat-sharing to save money on housing costs. Sharing a living space with others can significantly reduce your monthly expenses by splitting the cost of rent and utilities. This can be a great way for you to save money while still having your own space to live.

11. Negotiate Rent if you are Renting Space

If you’re renting a space, don’t be afraid to negotiate the rent with your landlord. Many landlords are willing to negotiate, especially if you have a good rental history. Being a reliable tenant can also work in your favor. Negotiating your rent can save you money in the long run.

12. Choose Energy-Efficient Electronic Appliances

When purchasing electronic appliances, look for energy-efficient models. These can save you money on your electricity bill over time. The BEE Star Rating label can help you understand how energy-efficient an appliance is. Choosing energy-efficient appliances is a smart way to save money.

13. Cook your Food at Home

Cooking your own food at home can save you a significant amount of money compared to eating out. Plan your meals ahead of time and cook at home to save money. This also allows you to have more control over what you eat and can be healthier. Cooking at home is a great way to save money and at the same time eat healthy food.

14. Say no to Bad Addictions like Pan Masala

Bad habits like smoking or chewing pan masala can be expensive and harmful to your health. Quitting these habits will not only save you money but also improve your overall well-being. This can have long-term benefits for both your finances and your health. Saying no to bad addictions is a smart choice.

15. Pack Lunch for Work

Packing your lunch for work can save you money compared to buying lunch every day at your office canteen. Plan ahead and pack healthy, filling meals that will keep you satisfied throughout the day. This can also be healthier than eating out and can help you stick to a budget. Packing lunch for work is a smart way to save money.

16. Reduce Meat Consumption in Food

Reducing your meat consumption can save you money on groceries. Meat is often one of the most expensive items on a grocery bill, so cutting back can make a big difference. Reducing meat consumption is a smart way to save money and live sustainably.

17. Cancel Unused OTT and Entertainment Subscriptions

If you have subscriptions to OTT platforms or other entertainment services that you’re not using, consider canceling them before they are auto-renewed to save money. This can prevent unnecessary spending on services that you’re not using. Only keep subscriptions that you use regularly and enjoy.

18. Explore Free/Local Events for Entertainment

Instead of spending money on expensive entertainment options, look for free or low-cost events in your community. Many cities offer free concerts, festivals, and other events throughout the year. These can be fun and engaging ways to spend time without spending a lot of money.

19. Borrow Books and Movies

Instead of buying books and movies, consider borrowing them from the library or from friends and family members. This can save you money while still allowing you to enjoy these forms of entertainment. Libraries often have a wide selection of books available for borrowing.

20. Conserve Electricity

Conserving electricity is another way to save money on your monthly bills. Turn off lights when you leave a room, unplug electronics when they’re not in use, and use energy-efficient light bulbs to reduce your electricity usage. This can have a significant impact on your monthly bills over time.

21. Use Natural Light

Using natural light instead of artificial light can save you money on electricity costs. Open blinds and curtains during the day to let sunlight into your home. This can brighten up your space and reduce your reliance on artificial lighting. Using natural light is a smart way to save money and be eco-friendly.

22. Use Natural Ventilation instead of Air Conditioning

Using natural ventilation instead of air conditioning can also save you money on electricity costs. Open windows and doors to let fresh air into your home instead of relying on air conditioning. This can improve air quality and reduce your energy usage.

23. Lower Water Heater Temperature

Setting the temperature of your water heater will help you save money on electricity bills. Most water heaters are set to a default temperature of 60° C, but lowering it to 48° C can still provide plenty of hot water while saving you money. This can reduce your energy usage and lower your monthly bills. Lowering your water heater temperature is a smart way to save money.

24. Exercise Economically to Maintain Your Health and Wellness

Exercising is important for maintaining your health and wellness, but it doesn’t have to be expensive. Look for free or low-cost exercise options, such as going for a walk or run, doing bodyweight exercises at home, or joining a community fitness class. These options can help you stay active and healthy without breaking the bank.

25. Opt for Generic Medications

Generic medications are often much cheaper than brand-name medications, and they contain the same active ingredients. Ask your doctor if a generic version of your medication is available to save money on prescription costs. This can significantly reduce your healthcare expenses over time.

26. Use Free Messaging Apps for Communication

Using free messaging apps like WhatsApp or Signal can save you money on communication costs. These apps allow you to send messages, make voice and video calls, and share files for free using an internet connection. This can reduce your reliance on traditional phone services and save you money on communication costs.

27. Travel during Off-Peak times

Traveling during off-peak times can save you money on transportation and accommodation costs. Look for deals on flights and hotels during the off-season or shoulder season when prices are lower. This can help you travel more affordably and make the most of your budget.

28. Book your travel and accommodation in Advance

Booking your travel and accommodation in advance can also save you money. Plan ahead and book early to get the best deals on flights, hotels, and other travel expenses. This can help you lock in lower prices and avoid last-minute price increases.

29. Use Zero-Balance Savings Accounts

Zero-balance savings bank accounts allow you to save money without having to maintain a minimum balance. Look for banks that offer these types of accounts to avoid paying MAB penalties (monthly average balance). This can help you save more money by avoiding unnecessary fees.

30. Opt for Internet and Mobile Banking services and Avoid Visiting Branches of the Bank

Using Internet and mobile banking services can save you time and money by allowing you to manage your bank account and transfer money without having to visit a branch. These services are often free online, making them a convenient and affordable option for managing your finances.

31. Compare Credit Card Terms before you Get One

Before getting a credit card, compare the terms and conditions of different cards to find the best one for you. Look for cards with low-interest rates, no annual fees, and rewards programs that match your spending habits. This will help you to save money on credit card interest charges and fees like renewal charges of the card. Comparing credit card terms is a smart way to find the best deal.

32. Use your Bank’s ATM to save Debit Card Charges

Using your bank’s ATM can save you money on debit card charges. Banks in India charge you when you make transactions using other bank ATM machines after a certain limit. Stick to your bank’s ATMs whenever possible to avoid these charges.

33. Use UPI for Payments

Using UPI (Unified Payments Interface) for payments can save you money on transaction fees. UPI is a real-time payment system that allows you to transfer money between bank accounts using UPI-enabled apps without having to pay any charges. This can reduce your transaction costs and make payments more convenient.

34. Pay Credit Card Bills on Time and Maintain a Good Credit Score

It is very important to pay your credit card bills before the due date to maintain a good credit score. A good credit score can help you get loans in the future at lower interest rates on loans and credit cards, saving you money in the long run. Timely bill payments can also help you avoid late fees and other charges.

35. Utilize Tax-Saving Investments

Utilizing tax-saving investments is another way to save money. These investments allow you to reduce your taxable income, which can lower your tax payable amount in India. This can help you save money on taxes and increase your overall savings.

36. Pay Off High-Interest Debts

Paying off high-interest debts is an important step in saving money. High-interest debts, such as credit card dues and personal loans, can quickly add up and cost you a lot of money in interest charges. Prioritizing debt repayment can help you reduce your debt burden and save in the long run.

37. Invest in a Family Health Insurance Plan

Investing in a family health insurance plan can save you money on healthcare costs. Health insurance can help cover the cost of unexpected medical expenses, such as doctor visits, hospital stays, and prescription medications. By having a family health insurance plan, you can protect your family’s health and financial well-being.

38. Contribute to Provident Fund as part of your Retirement Planning

Contributing to a provident fund is an important part of retirement planning. Provident funds are government-run savings schemes that provide tax benefits and a guaranteed rate of return. This can help you save for retirement while also reducing your tax liability.

39. Seek Scholarships and Grants for your Education

If you’re planning on pursuing higher education, look for scholarships and grants to help cover the cost. There are many scholarships and grants available for students in India, so do your research and apply early to increase your chances of receiving funding.

40. Explore Online Courses to Save on Learning New Skills

Online courses are often much cheaper than traditional classroom courses, and they allow you to learn new skills at your own pace. Look for online courses in subjects that interest you or that will help advance your career. This can be an affordable way to learn new skills and improve your job prospects and also save money.

41. Learn Basic Repairs Yourself

Learning basic repairs yourself can save you money on maintenance costs. Knowing how to fix a leaky faucet or repair a puncture on your vehicle can save you the cost of hiring a professional. This can also give you a sense of accomplishment and self-reliance.

42. Get an Economical Broadband or Fiber Internet Connection

Getting an economical broadband or fiber internet connection can save you money on internet costs. Compare prices from different internet providers in your area to find the best deal for your needs. This can help you stay connected without having to spend a lot on the internet connection.

43. Try to Buy Second-Hand Clothes

Buying second-hand clothes can save you money on clothing costs. Look for gently second-hand clothing at local stores or online marketplaces to find great deals. This can also be a more sustainable option than buying new clothes.

44. Try to Buy Electronics Second-Hand

Buying electronics second-hand can also save you money. Look for gently used electronics at second-hand stores or online marketplaces to find great deals. This can help you get the electronics you need without spending a lot of money.

45. Educate Yourself about Investments

Educating yourself about investments is an important step in saving money. Understanding how to invest your money wisely can help you grow your wealth and achieve your financial goals. This can also help you make informed decisions about your finances and plan for the future.

46. Grow Herbs and Vegetables at Home

Growing your own herbs and vegetables at home can save you money on groceries. Not only is it cheaper than buying these items at the store, but it’s also healthier and more sustainable. This can be a fun and rewarding hobby that also saves you money.

47. Fix Leaks, Use Water-Saving Devices

Fixing leaks and using water-saving devices can save you money on your water bill. Check your faucets and pipes for leaks, and install low-flow showerheads to reduce water usage. This can have a significant impact on your monthly bills over time.

48. Consider Investment in Solar Energy to Save Money on Electricity in Longterm

Investing in solar energy can save you money on electricity costs in the long term. While the initial cost of installing solar panels can be high, the savings on your electricity bill over time can make it a worthwhile investment. This can also reduce your environmental impact and help you live more sustainably.

49. Utilize Cashback Programs Effectively

Cashback programs can help you save on your purchases by earning cashback on eligible transactions. Sign up for cashback programs and use them effectively to maximize your savings. This can add up over time, helping you save more money.

50. Cook Appropriate Portions, Don’t Waste Food

Cooking appropriate portions and not wasting food can save you money on groceries. Plan your meals ahead of time and cook only what you need to avoid throwing away uneaten food. This can reduce food waste and help you make the most of your grocery budget.

51. Repurpose and Recycle Your Things

Repurposing and recycling your things can save you money on new purchases by giving old items new life. Instead of throwing away items that are still usable, find new uses for them or recycle them properly. This can be a creative and eco-friendly way to save money.

52. Fix Broken Items Before Replacing

Fixing broken items before replacing them can save on new purchases by extending the life of your belongings. If something breaks, try to repair it before buying a replacement if possible.

53. Opt for Rainwater Harvesting

Rainwater harvesting is a sustainable way to save on water costs by collecting and storing rainwater for use in your home or garden in India. This reduces reliance on municipal water supplies, saving you money over time.

54. Use Public Services and Facilities

Using public services and facilities, such as public transportation, health services, libraries, parks, etc., can save you money on transportation, entertainment, health, and other costs by taking advantage of these amenities provided by the government.

55. Insulate Your Home Properly for Energy Efficiency

Insulating your home properly can save you money on heating and cooling costs by keeping it warm in the winter and cool in the summer through efficient energy usage.

56. Learn Negotiation Skills

Learning negotiation skills can help you save money on purchases by negotiating better deals when buying a car, negotiating rent, or making other large purchases through effective communication techniques.

57. Opt for Online Shopping

Online shopping can often be cheaper than shopping in-store in India, due to lower overhead costs for online retailers. Look for the best deals on the internet before making any purchase.

58. Do Proper Need Assessment Before You Buy

You should assess the need for any product or service before purchasing it. Sometimes we end up buying unnecessary things which can be avoided by assessing the need and understanding if you really need it.

59. Choose Affordable Beauty Care and Treatments

Choosing affordable beauty care and treatments can save on personal care costs. Look for economical-cost beauty treatments instead of splurging on expensive salon services.

60. Avoid Buying Expensive Items Whenever Possible

Avoiding buying expensive items whenever possible can help you save in the long run. Instead of buying the latest gadgets or designer clothes, look for more affordable alternatives that still meet your needs.


These are some ways to save money in India. From creating a monthly budget and setting financial goals to using coupons and cashback programs while shopping, there are many simple steps you can take to cut costs and save money. By following the ways we have explored in this article, you can take control of your finances and build a brighter financial future. Remember, every little bit counts, so start saving today!