finance, life

How to save in your 20’s?!!

“An investment in knowledge pays the best interest.”

                                                                             – Benjamin Franklin

Earning money is probably one of the most wonderful experiences ever. And indulging yourself with all that you have earned is even better. It is really hard to keep those temptations at bay whenever you step out and start saving up. YES!! All your friends must be partying and buying new clothes and you may be in the fear of missing out (FOMO). So, you end up doing things when you are not okay with it.

Maybe the first two or three months, you can spend your money as you like, of course it is your first salary and you need to taste the fruit of all that hard work you have put in it ( *wink wink*). Maybe, after that start limiting yourself. I started realizing when my dad asked me excluding all my expenses after the first three months, where did the rest of the 60 k go.  I really could not answer nor did I actually know what happened.

So keep a ratio of saving up at least 60% of what you earn if you live with your parents and at least 10% of your income in case you live on your own. 


When you start saving up or investing, always remember the power of compounding, it was called the eight wonder  of the world by the great Albert Einstein.

So, here are few tips on how to save when you just started earning. 

  • Make separate bank accounts:

Keep two accounts, wherein one of them will be your savings account which would have all the money that you saved up and the other would be your salary account. The money in the savings account should not be touched unless it is an emergency. When you feel you have a lot of money in your salary account, you can transfer it to the other one.

  • Make a budget:

When you know how much you are gonna spend, plan your budget accordingly. Keep a certain amount of money in your wallet and chart it out. Spend only the amount you have originally planned to. This way you will keep a track on it.


  • Shop only when you really need something

The staple supplies to survive should not be compromised. But are you one of those who goes to the super market to buy two things and end up buying twenty five things?? Think again. Buy only what you actually need. I am addicted to stationery, lipsticks and shoes. The moment I stopped buying them , I actually had a lot of money left in my account.

  • Always wait for a SALE and Happy hours:

When you are gonna go shopping, always check out a sale around you and websites like myntra, flipkart, nykaa etc has a sale too. Keep a track after you create your wishlist and then binge yourself without any guilt.

  • Write down all the expenses: 

Write down everything you spend on a separate notebook and sort it out. Take the help of the internet to organize it. It would appear tedious at the first but you would be used to it soon ( I am trying my best to do it religiously).

  • Pieces that can be used multiple things:

Always take inspiration from various fashion blogs on instagram and wordpress in order to understand how to use a single piece of clothing or accessory can be used a multiple times to put together an ensemble.




Written by Divya Shankar

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