Ever thought about where you could be 10 years from now if you started saving smarter today? Imagine this: no more debt, enough emergency funds saved, investments are growing. And the freedom to travel anywhere you want, or start that dream business.
Sounds like a dream, right? Well, it’s totally possible.
To achieve all this, you don’t need to be super rich. It just takes smart habits, a little consistency, and some helpful tricks anyone can follow.
In this article, we will break-down the easy, Top 10 Smart Ways to Save Money and grow your wealth over the next decade. These tricks are simple, practical, and they really work.
Why Does Financial Freedom Start With Saving?
Before we talk about strategies of saving money, let’s first understand what financial freedom means.
It means when you have enough money saved, invested or available to live the life you want, without worrying about debt or running out of money. One of the best ways to reach financial freedom is by saving money on purpose. Saving money can:
- Give you a backup for emergencies like car repairs or medical bills.
- Help you reach goals like buying a house, going on trips, or retiring early.
- Lower your stress and make you feel more at peace, because you don’t have to worry about money related problems.
- Give you more choices and control in life take independent decisions
Now, let’s explore these money saving tricks to unlock a decade of financial freedom in detail.
Top 10 Smart Ways to Save Money to Unlock Financial Freedom
Start with a Monthly Budget
Making a budget is the first step to understanding how your money comes in and goes out. In India, spending each month can be different depending on where you live, how big your family is, and your lifestyle. So, it’s important to keep track of every rupee.
Start by noticing down all your income like your salary, rent, utility bills, transportation costs, groceries and other online shopping, dining out, entertainment, loan payment. You can use mobile apps like Walnut, Monefy, or Goodbudget or even Google Sheets and Excel to keep track of your money.
Tip: Try the 50/30/20 rule. It means, spending 50% of your money on essential needs, 30% on things you want, and remaining 20% on savings.
Automate Your Savings
Saving money by yourself every month can be tough, so make it automatic. Set things up so that some money from your income is moved directly to your savings account without you having to do anything.
Here are a few easy ways to do that:
- Set up automatic transfer to a Recurring Deposit (RD).
- Start a SIP (Systematic Investment Plan) in a mutual fund using apps like Zerodha, Groww, or Paytm Money.
- Use a sweep-in Fixed Deposit (FD) account, which gives better interest than regular savings.
Example: If you save just ₹5,000 every month in a mutual fund for 10 years, you could end with ₹10-12 lakhs, by earning returns on your returns.
Cancel Unused Subscriptions and Memberships
Most of us enjoy watching shows and movies on OTT platforms like Netflix, Prime Video, Disney+Hotstar, etc., But do we really need to pay for all of them?
Also, we purchase gym memberships for several months, but do we really need to go to the gym to stay physically fit?
Here are some smart tips to save money through these expense:
- Use plans like JioFiber or Airtel Black that provide OTT apps for free.
- You can switch to home-workout, there are a lot of free workout lessons available online for free.
- Check your UPI or net banking apps and cancel any streaming services you don’t use regularly.
- Share family or group plans to split the bills.
By doing all this, you can save ₹10,000 to ₹15,000 every year.
Apply the 24-Hour Rule Before Shopping Online
We all know that, during sales on Flipkart, Amazon, and Myntra, it becomes really tempting and easy to buy things which you really want and you waste a lot of money during that time.
To avoid this you need to:
- Add the item you wanna buy to your cart, but don’t buy it right away, wait for 24 hours.
- Ask yourself: Do I really need this?
- Check if you can find a better price somewhere else or if you already have something like it.
- Use chrome tools like BuyHatke or CashKaro to find the best discounts and get cashbacks.
Basically, think before you buy, and use smart tools to save more money.
Start a Side Hustle or Freelance Job
Earning extra money by doing some side hustle like monetizing your hobby like if you like painting, you can sell your. If you like teaching, you can earn money from teaching students. It really helps you improve your finances.
Here are some popular ways in India to make extra money:
- Freelance work like writing or graphic design on websites like Fiverr, or Upwork
- Selling handmade or homemade items on websites like Meesho or Etsy India and you can also sell unused products online on OLX.
- By promoting products online and earning commission through affiliate marketing.
- If you like teaching, you can earn money from teaching students on platforms like Vedantu, Unacademy, or even YouTube. It really helps you improve your finances.
Even if you earn just ₹10,000 per month from a side hustle, it can help you save money, invest, and reach your financial goal even faster.
Save Big on Food: Cook at Home More Often
If you’re ordering food from Zomato or Swiggy often, you’re probably spending a lot of money on food, which is not an ideal option to save money. Also, it is not a good habit to achieve and it can be unhealthy for you.
Try this instead:
- Plan your meals for the week and buy groceries based on that and avoid overspending.
- Use apps like BigBasket, Blinkit, Jiomart, or Zepto to get discounts and save time on shopping for groceries.
- Always try to cook at home. There are a lot of free and simple recipes available online.
If you cook and eat at home instead of ordering food from outside all the time. You can save a lot of money from this habit. However, once in a while, it is okay to order from outside or dine out.
Use Credit Cards Wisely with Cashback or Rewards
Though it is not ideal to use a credit card when your goal is to save money. But even if you do use credit cards, use them wisely, they can help you save money without costing anything.
Here’s how:
- Use Amazon Pay ICICI Credit Card, which offers you 5% cashback when you shop on AMazon.
- Axis Ace Credit Card, which offers you 2% cashback on almost everything.
- HDFC Millennia Card, is also a good option for online shopping and gives rewards.
But be aware! Always pay your full credit card bill on time. If you don’t, the bank will charge a very high interest rate, which varies from 30-40$ per year, and that can eat a lot of your savings.
Build an Emergency Fund
Every family should try to save enough money to cover their basic living costs for at least 6 months. This money can be used for sudden emergency situations like medical bills, sudden repair at home etc.,
Where to keep this money:
- In safe places like a Post Office Recurring Deposit (RD) or the Monthly Income Scheme (MIS)
- In liquid mutual funds like IDFC First or Kotak 811.
This money should be only used for emergencies like, job loss, medical bills, or sudden repair at your household.
Pay Off High-Interest Loans First
Credit card debt can be really expensive for you, if you don’t use it wisely and smartly. With interest rates as high as 36-48% per year. If you don’t pay it off, it can quickly grow and become a big problem.
How to get rid of debt:
- Write down all your debt and the interest rates on each one.
- Start by paying off the bet with the highest interest rates first. This is called the “Debt Avalanche” method.
- If credit card dues are too much, ask your bank to convert them into EMIs. This can lower your monthly stress.
Be careful with “Buy Now, Pay Later” options. Only use them if you’re sure you can pay on time.
Invest in SIPs, PPF & NPS Consistently
If you want to retire early or save more , then you should start investing regularly on SIPs, PPF & NPS. These investments can really help you grow your money fast over time if the market is doing well.
Here are some good options for people in India:
- Mutual Fund SIPs: you can invest a fixed amount every month and to invest your money easily, you can use apps like Groww or Zerodha Coin, which are easy to use and also user-friendly.
- PPF (Public Provident Fund): it is a safe money investment plan which gives tax-free returns, but your money is locked-in for 15 years.
- NPS (National Pension Scheme): It is an excellent government-backed investment plan for retirement savings and it also saves tax.
- ELSS (Equity Linked Saving Scheme): it is a type of mutual fund that also gives tax benefits under Section 80C.
Example: If you invest ₹5,000 every month in an equity mutual fund for 10 years, you might end up with around ₹10-12 lakhs, depending on the market behaviour.
Conclusion
Money savings for financial freedom don’t need a high salary in India. Good money habits and consistency matters the most.
Plan your spending, save automatically, cut waste, and invest regularly in SIPs, PPF, or NPS. Even small changes like cooking at home or cancelling unused subscriptions can help you save money easily and these are also a good habit to achieve for your lifestyle.
Start now, stay patient, and keep going. Every rupee saved takes you closer to a stress-free and secure future.
Know someone who needs money savings guidance in 2025? Share it with them! And drop your thoughts in the comment section. We’d love to hear from you and keep the conversation going!
FAQs
What is the best way to save money in India?
Start by tracking your spending and cutting things you don’t need. Save a fixed amount every month in a savings account, SIP, or PPF and automate your savings.
How can I save ₹1 lakh fast in India?
Avoid eating out, cancel unused subscriptions and subscriptions, shop smarter, and take a small side job or freelance work. Try to save ₹8,000–₹10,000 each month and you will reach ₹1 lakh in about a year.
Is investing in mutual funds safe in India?
Yes. Mutual funds are safe if you invest in good, well-known funds for the long-term. Start with SIPs and avoid taking out money too soon. Use trusted apps like Groww or Zerodha.
How much emergency fund should I keep in India?
Keep at least 3 to 6 months of your monthly expenses in a safe place like a bank FD, Post Office, or liquid mutual fund. This will help you during times like job loss, medical issues, or repair work.
Which is the best app for investing in India?
Apps like Groww, ZerodhaCoin, Paytm Money, and ET Money are easy to use, support SIPs, and work well for new investors in India. Choose one that you find simple to use and reliable.