23 Tips on how to save money in India (in 2023!)

23 Tips on how to save money in India (in 2023!)

Personal Finance

Money is an integral part of our lives, and it is important to save money whenever possible. Saving money can help you achieve your financial goals and make it easier to handle expenses in the future. There are many ways to save money and build up your savings in India.


Table of contents

Saving money is something that everyone needs to do in India. With rising living costs and increasing prices, saving money is becoming more important than ever. There are many ways to save money in India.

Save Money India, let's go!

This article will look at 23 tips to help you save money while living in India.

1. Make a budget

Creating a budget is one of the most important steps in saving money. A budget allows you to identify areas where you can save and allocate funds towards long-term goals, such as retirement or buying a house. Here are some tips for making an effective budget:

๐Ÿ’ฐ Start with your income

The first step in creating a monthly budget is to determine how much money you have coming in each month and set aside any savings that will go into a separate account (you may also want to put this money away first).

โฑ Track Your Spending

Make sure to track every expense, no matter how small. This will help give you an idea of whatโ€™s going out of your pocket each month and make it easier for you to create realistic spending limits. ๐Ÿ“

๐ŸŽฏ Set Clear Goals

Once you know what's coming in and going out each month, decide on achievable goals within the timeframe selected. These should include short-term objectives (eating lunch at home instead of eating outside) and longer-term ones (allocating funds for other investments or paying off debts faster). ๐ŸŽฏ

๐Ÿ•ต๏ธโ€โ™€๏ธ Monitor Regularly

Monitoring regularly helps ensure that your plan remains on track by tracking any changes which could affect it significantly. You should review expenses weekly/monthly depending on the duration chosen so that quick adjustments can be made if necessary before too much time has elapsed! ๐Ÿ”

๐Ÿ’ก
Creating a budget is one of the most effective ways to track spending and help you stay on top of your finances.


2. Cut down on eating out

Eating out is often one of the biggest expenses for people in India. Apps like Zomato & Swiggy can create a temptation to order food with a click, but you should cook at home. Saving money by cutting down on eating out can be a great way to boost your budget. There are plenty of ways to cut back and still enjoy restaurant-style meals at home! Here are some tips:

๐Ÿ“† Plan Ahead

When planning your weekly meals, think about what kind of groceries you need to make more homemade dishes instead of going out for dinner. Try making delicious soups, salads, sandwiches, etc., that require minimal effort but provide maximum flavor. ย ๐Ÿด๐Ÿฅ—

๐Ÿฅก Repurpose Leftovers

Get creative with the leftovers in your fridge! A piece of grilled chicken or leftover steak makes a perfect main course when paired with roasted veggies, brown rice, or quinoa - nearly as good as takeout but much cheaper! ๐Ÿ˜‹๐Ÿ‘

๐Ÿฒ Batch Cook

Instead of always cooking from scratch each night, save time (and energy!) by batch cooking one or two meals ahead for the week โ€“ lasagne freezes well, so why not prepare it in advance? This could also help reduce food waste too, bonus points all around! ๐Ÿคฉ๐Ÿ˜ƒ

๐Ÿฝ Eat Out Less Often

Restaurants generally have higher prices than youโ€™d pay if you cooked those same ingredients at home. If eating out is an important part of socializing for yourself, consider decreasing the number of times per month rather than eliminating it - make sure to set yourself limits so you donโ€™t overspend ๐Ÿ‘โœ…

With these simple tips, I hope that now saving money will seem easier and less daunting. Bon Appรฉtit โญ

๐Ÿ’ก
In India, the average household spends around 10-12% of its budget on eating out. However, this number has been reduced drastically due to the pandemic, with households now spending only 3-4% of their total budget on eating out.


3. Shop in bulk

Shopping in bulk is one of the most effective ways to save money on your monthly grocery shopping. It can help you stretch your budget and get more value for money by buying larger quantities of food at a lower cost and reducing waste. Hereโ€™s how you can start saving money when you shop in bulk:

๐Ÿ› Shop around

Compare prices between online and offline stores. Do some research before making any purchases always to get the best deals! ๐Ÿค‘๐Ÿคฉ

๐Ÿ‚ Buy seasonally

Fruits, vegetables, and other seasonal produce often come at discounted rates during certain times of the year due to their abundance in those seasons โ€“ make sure to take advantage of this! ๐Ÿ…๐Ÿ‘๐Ÿฅฌ

๐Ÿค‘ Check for discounts/offers

Many supermarkets offer discounts or loyalty program rewards when purchasing items from them - it pays to stay alert about these offers to maximize savings! ๐Ÿ›’๐Ÿ˜Ž

๐Ÿ‘ฅ Join wholesale clubs

There are plenty of wholesalers across India, such as Big Bazaar and Reliance Fresh, who provide great savings opportunities with huge discounts if one opts for their membership schemes, cheaper than buying items every day separately from regular grocery stores. ๐Ÿงพโœจ

๐Ÿ’ช Bulk-up nonperishable products

Pantry staples like grains & pulses have long shelf lives, which means they are perfect candidates to buy in large quantities โ€“ stocking up will likely work out much cheaper over time rather than purchasing smaller amounts regularly โšก

๐Ÿ’ก
In India, bulk shopping can save an average of 20-30% on the cost of items when compared to buying them in smaller amounts. This is primarily due to reduced packaging costs and the ability to buy items in larger quantities at wholesale prices.

4. Shop for cheaper alternatives

Saving money is a way of life; shopping for better alternatives can be done. Whether you're stocking up on groceries or purchasing an item online, here are some tips to help you save money while getting the most out of your purchase:

๐Ÿ”Ž Look into generic brands

Opting for off-brand items in supermarkets can offer comparable quality at a fraction of the cost. This could range from frozen foods to personal care products.
๐Ÿค‘

๐Ÿ’ฐ Take advantage of sales and discounts

Many stores run special offers throughout the year that allow customers to buy items at lower prices than usual - these include seasonal clearances and promotional events too! Stick to reputable deal sites such as Groupon India or Amazonโ€™s Deal Of The Day page, so you don't get scammed with fake discounts. ๐Ÿ›๏ธ

๐Ÿค Buy Used Items When Possible.

Buying secondhand does not necessarily mean poor quality โ€“ instead, look for gently used clothing, furniture pieces, and electronics, which will come with greatly reduced price tags! It's also helpful if one wants something specific but is no longer in production โ€“ sites like eBay India or OLX often have rare finds available without breaking your bank balance ๐Ÿ‘ฉโ€๐Ÿ‘งโ€๐Ÿ‘ฆ

๐Ÿ› Shop Around Before Making Big Purchases

Big ticket purchases like cars require research time before committing financially; check different dealerships as well as online services like CarDekho (India), which compares car models based on reviews and specifications โšก๏ธ

With smart shopping decisions, saving money doesn't seem so daunting! Be sure to follow these tips next time you shop around ๐Ÿ˜‰

๐Ÿ’ก
In India, cashback and coupon websites offer discounts of up to 50% on various products, making them a great source for cheaper alternatives.

5. Use cash instead of credit cards

Credit cards can be a great way to manage your finances, but they can also lead to overspending. ๐Ÿค‘ Itโ€™s no secret that using cash instead of credit cards can help you save money. Here are some benefits of paying with cash rather than credit:

โœ… Quickly see how much you have available

When we use physical notes and coins, it's easier to keep track of our spending. You will always know exactly what amount is left in your wallet or purse immediately after making a purchase.

โœ… Avoid unnecessary purchases

Studies show that people tend to spend more when they pay by card as opposed to cash because there is not the same cognitive pain from parting with hard-earned money when compared with financial loss through plastic transactions on a statement at a later date; By paying in cash, one might be able to resist temptations better and make logical decisions about their finances.

โœ… Facilitate budgeting

Cash provides greater control over expenses since the exact amounts spent each day are visible upfront without having to wait around until bills come due at the end of the month, like those associated with using credit cards which could lead to debt accumulation if unchecked regularly.

๐Ÿ‡ฎ๐Ÿ‡ณ For Indians specifically, there are other reasons why opting for the hard currency may be beneficial, such as avoiding ATM fees (especially outside bank networks) and enjoying discounts/benefits given by participating local merchants who offer incentives only when customers choose traditional payment methods instead digital ones like Paytm etcetera! ๐Ÿ˜Š

๐Ÿ’ก
A 2020 survey by the World Bank found that India had a cash-to-credit card ratio of 4:1, meaning that four times more cash was used than credit cards.

6. Use coupons and discounts

Coupons and discounts are great ways to save money on everyday purchases. Look for coupons online or in newspapers, or ask retailers if they offer discounts or specials. CouponDunia is a good site to search for Indian deals and coupons. ๐Ÿ’ฐSaving money using cash coupons and discounts is a great way to stretch those rupees further. Here are some tips on how you can make the most of your budget:

๐Ÿค” Compare prices

Before you shop, take some time to compare prices online or at local stores to get the best deal possible.

๐Ÿ’ธ Use cashback apps/websites

Apps like MobiKwik, Cashkaro, and MagicPin offer attractive discounts when users load money into their respective wallets via UPI payments or debit/credit card transactions. They also provide additional discount codes, which can be used for purchases from select merchants.

๐ŸŽ… Look out for festive offers

Diwali, Holi, Durga Puja, etc., are times when many e-commerce websites such as Amazon & Flipkart come up with promotional deals where customers can avail hefty discounts on clothing, electronics, and other products by applying coupon codes at the checkout page.

๐Ÿ’ก
According to a survey conducted by CouponDunia, an Indian coupon website, more than 77% of Indian customers use coupons and discounts while shopping online.

7. Buy second-hand goods

Making smart shopping decisions is the key to spending less and saving more. There are many advantages of purchasing second-hand goods over brand-new ones, such as cost savings and environmental friendliness. Here's how you can save money by buying second-hand:

โžก๏ธ Shop at Thrift Stores or Second Hand Shops

These stores often have a wide variety of items, including clothing, furniture, toys, tools, etc., at discounted prices compared to regular shops. You can find great deals on quality products if you look carefully!

โžก๏ธ Buy from Online Platforms & Apps

Sites like OLX India offer pre-owned items in all categories with varying discounts. With filter options available for product condition and price range, it makes selecting whatโ€™s right for your budget easy!

โžก๏ธ Attend Garage Sales

This is an ideal way to find lightly used goods at economical rates from individuals who no longer need them but cannot afford to donate them away without any returns. You have to search in the nearby area or ask friends about upcoming garage sales near you!

โžก๏ธ Exchange Old Stuff with Friends & Family Members

We often hoard things we don't use anymore but still clutter up our homes - these are perfect candidates for exchanging instead of throwing away or gifting someone else outrightly free. Try asking people around to see if they're interested in trading something they own, which would benefit both parties involved while being pocket-friendly.

๐Ÿ’ก
In India, the second-hand goods market was estimated to be worth over $20 billion in 2018 and is expected to reach around $37 billion by 2022.


8. Take public transportation

Public transportation is not just an eco-friendly alternative to personal cars and cabs; it can also help you save a ton of money in the long run! Here are some ways that Indian citizens can use public transit to their financial advantage:

๐ŸšŒ Take the bus or train instead of booking a cab

Traveling on buses and trains is much cheaper than taxis in most major cities, such as New Delhi, Mumbai, Bengaluru, and Chennai. It will be more affordable and quicker as they often have dedicated lanes with less traffic congestion.

๐Ÿ’ณ Invest in monthly passes for regular commuters

Instead of buying individual tickets each time you travel from one destination to another, look into monthly passes, which offer discounted rates compared to single journey costs. This would work great if youโ€™re attending college/university every day or regularly going to the office on weekdays since the overall cost is cheaper than buying individual tickets each time ๐Ÿค‘ .

๐Ÿšฒ Look into bike-sharing schemes in your area

Bike-sharing schemes such as Yulu Bikes (Mumbai), Rapido bikes (Delhi), and Zoomcar pedl (Bengaluru). You may find these even more economical than other public transport - plus its great exercise too! โšก๏ธ

Overall, investing your money wisely when it comes to modes of transport could end up saving you quite a substantial amount over time โ€“ so make sure to weigh all options before deciding what best fits your needs ๐Ÿ˜‰

๐Ÿ’ก
In Bangalore, India, around 10 million passengers use public transport every day, making it the third-largest public transport system in India.


9. Reduce energy costs

With increasing energy costs, saving money is becoming harder and harder. However, there are many ways that we can reduce our energy usage and save some cash in the process! Here are some tips on how to reduce your energy bill:

โžก๏ธ Turn off lights when not in use

It may seem simple, but this small action alone can go a long way toward saving you money on your electricity bill.

โžก๏ธ Invest in LED bulbs for light fixtures

Instead of traditional incandescent or fluorescent bulbs โ€“ they consume much less electricity than their counterparts and last longer too!

โžก๏ธ Unplug appliances like TVs & chargers

Unplug when not in use since these devices still draw power even if no oneโ€™s using them.

โžก๏ธ Close all doors and windows tightly

Make sure that all doors & windows close tightly so that cool air doesnโ€™t escape from inside the house during summer months โ€“ keeping cool air trapped helps maintain lower temperatures indoors, reducing AC usage (especially important if you're living in an area with hot summer weather). ๐Ÿฅต

โžก๏ธ Use ceiling fans instead of AC

Use ceiling fans instead of air conditioners whenever possible; they circulate cooler air without consuming as much electricity as AC units. ๐ŸŒฌ

โžก๏ธ Utilize natural sunlight

Utilize sunlight wherever possible by opening curtains/blinds while at home during daytime hours - this reduces reliance on artificial lighting sources, which incur higher electricity bills over time. โ˜€

Hopefully, these tips will help you cut down on expensive energy costs & put more money back into your pocket! โ˜บ

๐Ÿ’ก
In India, the Ministry of Power has estimated that switching from traditional lighting to LED lighting can reduce energy consumption by more than 50% and save up to Rs. 40,000 crores ($5.4 billion) annually in energy costs.

10. Buy generic products

Saving money by buying generic products is a great way to stretch your budget. Here are some effective tips for doing it:

๐Ÿ”Ž Identify the Brand Names

Knowing what brand names you want can help when selecting generic items at the store. Look up prices online or in ads and note which brands offer good value.

๐Ÿ› Compare Prices Before Shopping

It's important to compare prices between different stores before shopping โ€” this will help you get the best possible deal on generics and other goods. ๐Ÿคฉ

๐Ÿ—“ Check Expiration Dates

Make sure that any product you buy hasn't expired! This could cause health problems down the road, so check expiration dates carefully before purchasing anything generic or otherwise. ๐Ÿ˜ท

๐Ÿค” Ask About Discounts & Coupons

Most retailers provide discounts if more than one item is purchased together - donโ€™t hesitate to ask for these deals! Many companies also offer coupons for certain products; keep an eye out for them! ๐Ÿ”

Following these tips can help make buying generics less intimidatingโ€”and potentially save quite a bit of cash in India along the way! ๐Ÿ‘

๐Ÿ’ก
In India, generic drugs account for nearly 70% of the market share in the pharmaceutical industry. As a result, the cost of generic drugs is typically much lower than brand-name drugs.

11. Donโ€™t buy things you donโ€™t need

Impulse buying is one of the easiest ways to throw away your hard-earned money. Try not to buy things you donโ€™t need and only buy what you need and use. ย 

Nowadays, it is more important than ever to practice mindful spending to save money. Here are a few tips on how you can do this in India:

๐Ÿ’ฐ Create a budget

Start by writing down your income and expenses, so you know exactly how much money comes into your account each month and where it goes out. This will help you track whatโ€™s going out of the budget unnecessarily and make changes as needed.

๐Ÿ“Š Prioritize savings

Before anything else, set aside some monthly amounts for saving or investing for future needs like medical emergencies, retirement funds, etc. Make sure that these savings come before any other expenditure while creating your monthly budget.

๐Ÿ› Be mindful when shopping

Try not to buy things that aren't essentials, such as clothes, electronics, or even food items, if they won't be consumed immediately! Also, remember to compare prices between different stores/websites while shopping online, so you get better deals while still getting good quality products, too ๐Ÿ™‚

๐Ÿ”Ž Seek alternative solutions

Instead of buying something new, look at alternatives such as swapping with family & friends or renting items through sharing platforms instead of purchasing them outright (books/clothes, etc.). All these little steps can add up over time resulting in significant savings! โ˜บ๏ธ

12. Create an emergency fund

Creating an emergency fund is a great way to save money in the long run. It gives you peace of mind knowing that if something unexpected happens, such as job loss or medical expenses, you have financial stability and security. Here are some tips on how to create an emergency fund:

โญ Set realistic goals

Start by setting specific savings goals for yourself; think about how much you would like to start with and what kind of timeline works for your lifestyle and budget.

โญ Automate your savings

You can set up monthly bank transfers from checking accounts into dedicated savings account so that each month, part of your paycheck goes directly into this "rainy day" account without relying solely upon willpower.

โญ Track spending

Monitor where all your income is going so that you identify areas where adjustments may be necessary to free up funds for saving more money for the future.

โญ Get creative

Try selling items online or find ways to generate extra income through side gigs โ€โ™€๏ธ- perhaps tutoring students after school hours, providing pet-sitting services, etc.

โญ Utilize tax benefits

Take advantage of government schemes such as PPF (Public Provident Fund) and Sukanya Samriddhi Yojana, which offer high long-term investment returns with substantial tax benefits ๐Ÿค‘ .

These small actions will help you get started building an emergency fund quickly! ๐Ÿ’ช

๐Ÿ’ก
In India, it is estimated that only 20% of households have an emergency fund, which is less than half the global average of 43%.

13. Invest wisely

Saving money is an essential part of financial planning. Investing wisely can help you build wealth while reducing the risks and costs associated with investing foolishly. Here are some tips on how to save money by investing wisely:

๐Ÿ’ธ Start Early

The earlier you start investing, the more potential for growing your investments will have in the long run due to compounding returns. Donโ€™t wait until it's too late โ€“ take advantage of compound interest now!

๐Ÿค Diversify Your Investments

Itโ€™s important to diversify your portfolio across different asset classes, such as stocks, bonds, or real estate, depending on your risk appetite and liquidity needs. Doing so helps reduce losses from any investment class that may underperform at a given time.

๐Ÿ” Research Well Before Investing

Educating yourself about various instruments before making any decision is advisable when choosing which instrument and where and how a small amount should be invested. Do a complete checkup of fund performance ratings and other factors like management style before selecting a product/scheme.

โ˜ ๏ธ Understand Fees & Expenses Associated With Investment Instruments

Always remember that fees and expenses are involved in every type of investment, whether it's mutual funds or direct equity market trading. One must clearly understand all charges involved, even if they seem small; these add up over time, thus erasing potential gains.

๐Ÿ“ˆ Buy Low & Sell High Using Dollar Cost Averaging Technique

Try practicing the dollar cost averaging technique where buying fixed amounts periodically (e.g., once a month) rather than timing markets gives better results, i.e., buy low during bearish conditions, then sell high during a bullish trend. This way, one could earn decent profits consistently.

๐Ÿ“‰ Tax Efficient Products For Long-Term Gains

In India, certain tax-efficient products like ELSS (Equity Linked Saving Scheme), PPF (Public Provident Fund), etc., offer great return opportunities, especially for long-term income flow.

14. Use price comparison websites

We all know that life can be expensive, and most constantly look for ways to save money. One great way to get the best deals on items you need is by using price comparison websites. ๐Ÿค‘

Hereโ€™s a look at how you can use these sites to find the best prices online:

๐Ÿ” Check Multiple Vendors

Price comparison websites allow you to compare prices from multiple vendors in one place, so it's easy and convenient. ๐Ÿ˜Š You'll quickly see who has the lowest price or special offers available and decide which vendor to buy from.

๐Ÿค‘ Get Coupon Codes

Coupon codes often appear around shopping holidays like Black Friday or Cyber Monday, making it easier for buyers who want even bigger savings opportunities! ๐Ÿ‘๐Ÿผ So be sure to check out the coupons section before finalizing your purchase!

๐Ÿ’ฐ Look Out For Cashback Offers

Many Indian-specific companies, such as Paytm, offer cashback discounts through their payment services when customers shop with certain retailers via their platform. ๐Ÿคฉ So keep an eye out for any potential cashback rewards when browsing different retailers' websites!

๐Ÿ“ Read Reviews Before Making A Purchase

Price comparison sites often have product reviews where users rate different items they purchased earlier so that other shoppers can also learn more about what they're buying beforehand. ๐Ÿ“– It helps give more insight into what products would provide better value compared to others available on these platforms

15. Automate savings

Saving money can be challenging, but it doesn't have to be. Automating your savings is one of the best ways to guarantee that you save more and stay on track with your financial goals. Here's how:

๐Ÿ’ฐ Set up automatic transfers

Most Indian banks offer automated funds transfer services so that you can set aside part of each paycheck or salary into a dedicated savings account. This way, you never even see the money in your checking accountโ€”it goes straight into savings!

โ˜๏ธ Make use of rewards programs

Many banks in India now offer loyalty reward points for customers who make regular deposits into their accounts. These points can later be redeemed towards purchases made online or at partner stores when used wisely over time could add up significantly, helping build an emergency fund for rainy days.

๐Ÿ“‰ Invest regularly through SIPs

Mutual Fund investments via Systematic Investment Plans (SIP) are another great way to automate saving plans by setting-up periodic investments rather than making lump sum payments. It helps mitigate market volatility and allows easy tracking & viewing of contributions instantly from oneโ€™s investment portfolio without having too much effort put in every month.

16. Use rewards programs

Many retailers offer rewards programs that allow customers to earn points when they make purchases. These points can then be used for discounts or free items, allowing you to save money on future purchases at the store. Here are some tips on how to use rewards programs to save money in India:

๐Ÿ’ฐ Join Cashback Sites & Rewards Programs

Look for online cash-back sites and loyalty programs offering substantial discounts or vouchers when purchasing at partner websites/retailers. Some examples include Amazon Pay Balance, Flipkart Plus Coins, FoodPanda Panda Points, etc.

๐Ÿค Sign Up For Store Loyalty Cards

Signing up for store loyalty cards not only gets you exclusive offers and promotions on your favorite brands but also provides additional benefits, such as freebies and discount coupons which could help you save even more money! Examples include Big Bazaar Happy Card, Croma Care VIP Membership Club, etc.

๐Ÿ˜Š Take Advantage Of Credit Card Offers & Discounts

Many credit card companies provide great rewards like cash back and points, which allow customers to save when shopping via their affiliated partners or financial institutions like banks. Check out all the available deals before spending to maximize your savings potential from this route too!

๐ŸŽ Make Use Of Special Promotions/Events

Take advantage of seasonal sales events such as the Diwali Shopping Fair, Holi Sale, Christmas Sale, etc., where stores offer promotional discounts, including BOGO (Buy One Get One Free) offers, which will help cut down costs significantly if used wisely. So keep an eye out for these opportunities when shopping in physical stores or online outlets!

๐Ÿ’ก
According to a survey conducted by Assocham in India, almost 70% of customers said that they were more likely to stay loyal to a brand if it offered a reward program.

17. Sell unwanted items

Selling unwanted items can be a great way to make extra cash and clear out clutter from your home simultaneously. Consider selling old clothes, furniture, electronics, and other items you no longer need or use via online marketplaces like OLX India. Here are some tips on how you can save money by selling off those old and unused items:

โœ… Buy Low & Sell High

When shopping for secondhand goods online or offline, look for deals that offer discounts or discount codes so that you don't have to pay full price. Once purchased, resell the items at higher prices to make a profit.

โœ… Fix Up & Flip

If you're handy with tools and know-how, why not try restoring used furniture and appliances? With just a little elbow grease (and sometimes money), these pieces can often fetch much more than originally paid.

โœ… Unlock Your Home's Hidden Savings Potential

Got extra space lying around? Why not rent out your spare bedroom or garage in return for additional income? There are plenty of apps available now that allow homeowners to do exactly this ๐Ÿ˜Ž๐Ÿ‘

18. Get cashback on credit cards

Many credit card companies offer cashback rewards for purchases at certain retailers. Or even for purchases such as gas or groceries throughout the year. Take advantage of these rewards programs by using your credit card when making certain types of purchases so that you can get some extra cashback in your pocket.

โœ… Start Using Cashback Credit Cards

A cashback credit card is a great way to save money while spending. You can get up to 5% or even more in cash back when you use them for everyday purchases like grocery shopping, fuel, and online payments. With careful planning and wise use of your cards, you can easily earn hundreds of rupees each month without any extra effort.

๐Ÿ’ฐ Use Cred App To Increase Your Earnings

The new buzzword among savvy Indian consumers is the โ€œCred app,โ€ which helps users get additional savings by earning points with each transaction they make through its network partner banks like SBI Bank and ICICI Bank. By collecting these reward points over time and then redeeming them at select merchant outlets associated with the Cred app, one can maximize his/her earnings substantially, making it an excellent tool for saving money on regular day-to-day expenses ๐Ÿค‘

Cred - Credit Card Bill Payment Company, India
We all pay bills and use credit cards. But CRED does things a bit differently. It offers incentives on those bills and payments! Every time you pay your credit card bills with CRED, you get reward points to redeem!!!! (Too Good To Be True)

๐Ÿ”„ Do Not Forget About Return Policy

In case something goes wrong with a product purchased from the retailer, don't forget the return policy offered by most major eCommerce store allow us to send the item back within the shortest possible duration & get the refunded amount credited directly into the account further; this saved amount should also be considered account while calculating our net monthly gains through above tips ๐Ÿ˜.

19. Negotiate lower prices

Are you looking for ways to stretch your money? One of the most effective methods is learning how to negotiate lower prices. Whether itโ€™s buying groceries, electronics, or even services โ€“ negotiating with vendors and service providers can be a great way to save money in India! Here are some tips on how you can get started:

โœ”๏ธ Take your time & do research

Before making any purchases (online or offline), ensure you have done as much market research as possible. This will allow you to pick up pricing specifics and provide useful ammo when bargaining with shopkeepers/vendors.

โœ”๏ธ Be bold but respectful

It may seem intimidating at first, but don't be afraid of pushing hard while shopping around different stores/marketplaces; after all, they depend on sales just like us! Just remember not to go overboard and always stay respectful towards the other party throughout the negotiation process.

๐Ÿ› Visit street markets

Markets like Sarojini Nagar in Delhi are filled with shops selling items at highly discounted rates โ€“ so make sure you visit them whenever you're out shopping for bargain deals! Plus, keep an eye out for discounts being offered by vendors during festivals such as Diwali, etc., which could help sweeten already existing deals even more ๐Ÿ˜‰

โ“˜ Be creative & think outside-the-box

Many sellers offer attractive discounts if customers buy multiple products from their store/website. Please take advantage of this by bundling together unrelated items that fit within the budget; chances are they'd be more willing than one big purchase alone โ˜บ

๐Ÿค Use โ€œpayment methodโ€ tricks

If a vendor isn't budging despite your best effortsโ€ฆ Try offering a payment solution through a debit card instead of cash. Most times, these transactions attract additional discounts due to soft swiping fees waived off in favor of customers ๐Ÿ˜Š.

With just a few small changes here and there, negotiating lower prices can lead to significant savings over time โณ So next time when out grabbing supplies, don't forget to use what you've learned today to push down those rates!! Good luck haggling, everyone :)

๐Ÿ’ก
In India, it is common to negotiate lower prices when purchasing items. A study by the Indian Institute of Management found that over 60% of shoppers in India haggled for a lower price to get the best deal.

20. Invest in energy-efficient appliances

Investing in energy-efficient appliances can be a great way to reduce costs and help the environment. Here are some tips on saving money with energy-efficient appliances:

โœ… Look for Energy Star-rated products when shopping

These items use less energy, which means fewer monthly bills and more savings over time. ๐Ÿ‘๐Ÿป

๐Ÿค‘ Consider appliance upgrades

Upgrading old models of refrigerators, washing machines, dryers, or air conditioners to newer ones that have better efficiency ratings could save you hundreds of dollars annually in electricity costs.

๐Ÿ’ฆ Use cold water whenever possible

Hot water uses up much more electricity than its colder counterpart, so try handwashing clothes instead of using your washing machineโ€™s hot cycle option if you want to reduce your power bill every month significantly!

โ˜๏ธ Buy smart/app-enabled devices

Smart or app-enabled devices allow users to remotely control their appliances at home from anywhere, which also helps them save by being able to monitor usage times and regulate temperatures accordingly while they're out at work or running errands etc.

๐Ÿ˜Ž Look into local offers & discounts

Don't forget about looking into local solar installation companies, who offer special seasonal discounts plus government subsidized loans as well as state-sponsored rebates on energy-efficient purchases like LED lights (like Syska), cool roofs & improved insulation systems, etc...to encourage customers to invest in green energies and reducing their carbon footprint!

21. Use online banking services

Saving money via online banking can be a great way to improve your financial situation. Here are some tips to help you get started:

๐ŸงŒ Utilize digital transactions instead of cash or debit/credit cards

Many banks offer Unified Payments Interface (UPI), National Electronic Funds Transfer (NEFT), and Real Time Gross Settlement (RTGS), allowing you to transfer funds between different accounts easily.

๐Ÿ™‚ Take advantage of the benefits offered by internet banking

With it, you can access all your account information at any time from anywhereโ€”allowing better control over spending habits and helping manage expenses more efficiently than ever before!

๐Ÿค‘ Invest in recurring deposits and mutual funds through net-banking platforms

Platforms like Paytm Money and Zerodha Coin make investments easier while providing higher returns than traditional methods such as fixed deposits or savings accounts.

๐Ÿ˜ Utilize mobile wallets for making regular payments

this eliminates the need for frequent withdrawals from ATMs, thus reducing bank charges associated with them and saving interest costs incurred due to credit card debts!

๐Ÿ™€ Opt for ePayment services like Bharat Bill Payment System (BBPS) & BHIM UPI

Users can pay utility bills like electricity, water, etc., without visiting each department separately or standing in long queues.

22. Utilize mobile apps for budgeting

Are you looking for ways to save money and keep track of your finances? If yes, then using budgeting mobile apps is the best way! Budgeting apps allow you to monitor your spending, set budgets and savings goals, stay on top of bills, invest smarter, and more. Here are some helpful tips when it comes to choosing a budgeting app that works for you:

โญ Examine App Reviews

Before downloading an app, read reviews from other users. This will give you a better understanding as they provide insight into how well it works in practice.

๐Ÿซฐ Check Fees & Charges

Some free or inexpensive apps may charge hidden fees down the line, so check all charges associated with the app before committing. The same applies if opting for premium pricing plans like those offered by Mint or YNAB, which offer added features but also require upfront payments each month/year.

๐Ÿ“ฑ Look at User Interface

Weigh out options based on the look and feel since this can drastically affect the user experience when utilizing an app; ask yourself whether menus are intuitively laid out such that navigation feels natural after only a few minutes of exploring the layout etc.

โœ… In India, there are several great budgeting apps available, including Bajaj Finserv Wallet + Save (available through their website), which helps manage expenses while taking advantage of cash-back deals from local retailers plus Swiggy Money (from food delivery company), Zeta App & Paytm Money (both e-wallet solutions offering wallet management services). Last but not least is CRED Clubโ€”the financial rewards program backed by Mastercardโ€”which provides solid tracking tools along with tangible incentives whenever one pays off credit card balance ahead of schedule ๐Ÿ’ธ

Cred - Credit Card Bill Payment Company, India
We all pay bills and use credit cards. But CRED does things a bit differently. It offers incentives on those bills and payments! Every time you pay your credit card bills with CRED, you get reward points to redeem!!!! (Too Good To Be True)

23. Utilize government programs such as Jan Dhan Yojana and Ujjwala Yojana

Saving money is an important part of creating a secure financial future. But itโ€™s not always easy to do when you're on a tight budget. Fortunately, some government programs can help make saving easier and more manageable for Indian citizens. Here are some tips on how to save money by utilizing these government initiatives:

๐Ÿค‘ Utilize the Jan Dhan Yojana

The Jan Dhan Yojana (PMJDY) was launched in 2014 to provide access to basic banking services like savings accounts and remittance transfers at low or no cost for all citizens, especially those from economically weaker sections as rural households in India. Through this scheme, individuals get an account with zero balance, earning interest up to 4%. Opening such an account will enable you to save regularly while also earning little interest over time!

๐Ÿ’ฐ Take Advantage Of Ujjwala Yojana

Ujjwala Yojana provides free cooking gas connections aiding millions of mainly rural women who suffer severe health consequences from exposure to smoke caused by traditional fuel sources used for cooking food indoors. Not only does this scheme improve air quality inside homes, but it also benefits people financially since they don't have to buy costly LPG cylinders anymore!


Saving money in India can be daunting, but with the right approach, it is possible to make the most of your finances and build up your savings over time.


Sahil Kohli

Sahil Kohli, the founder of IndiaTech.com, started his journey with youth-focused startup XeroCopy. He is enthusiastic about digital collectibles & is the CEO of Quik.com, an NFT Domain Marketplace.