Learning how to save money from salary is a fundamental life skill. This enables you to allocate your income smartly, following proven principles like the 50 30 20 rule that guide spending and saving. Here are some practical saving ideas:
- Set Financial Goals: Adopt the 50-30-20 rule.
- Save by Investing: Explore different kinds of mutual funds that can help you meet your goals.
- Start a SIP: Make periodic payments and save money.
- Pay Off Debt: Avoid a debt trap and pay off loans promptly.
- Lifestyle Changes: Make small lifestyle changes to cut expenditure.