Habit of Saving Money in India – Money Savings Tips

In order to achieve your financial goals and achieve financial independence, You need to save money. In fact, saving money in India has to become a Habit.
Look – saving money doesn’t mean that you become a miser. A miser is a person who lives in miserable and pitiable conditions in order to save money. What I am talking is saving money in India smartly while maintaining your lifestyle
So now let’s talk about various ways you can develop this habit of saving money.
Saving money in India

How to save money while shopping online and offline?

These are the various ways I save money. This is certainly not a definitive list. You too might be aware of a few tips. But I promise you that after going through this list you will definitely find new ideas.
  • Use the right credit cards for all your shopping – be it online or offline. Right credit cards are the ones that give you Cashback and Rewards points and do not charge any annual fee.
  • Use a combination of Payment Wallets + Credit Cards to get additional discounts. Many payment wallets keep coming up with new offers.
Habit of Saving India

Example – Wallet Offers

I frequently take advantage of “Amazon Pay” offers and Amazon Gift Cards like the picture above. I recently purchased a phone worth Rs 58,000 for only Rs 35,000 thereby saving Rs 23,000 which is very good savings. I did this by taking advantage of the lightning deal on Amazon plus Amazon Pay offer plus special cash back on one of my credit cards. This also a good example as to how you can save money in India without compromising on your lifestyle.

Another trick that you can use for saving money in India without compromising on your lifestyle.

First, buy discounted gift cards from Amazon.in like this and keep it ready with you. Discount on these gift card varies and I have seen that you can buy a deeply discounted gift card (up to 30% to 50%) few days before Diwali each year. 

Habit of Saving India

Most Branded stores like Shoppers Stop, Lifestyle, Westside, etc come out with two major sales every year – One in January and second in July where in they discount their products up to 50% at the time of Sale. So you are able to double dip or double your discount with this gift card trick and buy quality branded stuff at very cheap prices.


  • Check Deal Apps Before Dining Out, Spa and Haircut. Search for India Deals Apps on Google App store and select one that you like the best – I use desidimes but they all are similar in my opinion. For online shopping – you can also use Chrome Extension for automatically finding coupons. I am using BuyHatke chrome extension for doing that. You can get it here – Link
  • Add Items In Shopping Cart And Wishlist Without Checking Out. Wait for a couple of days and you will see the price change. Most times it will go down and you will end up saving money.
  • Use Online Calculator Before Applying For Any Loan Or Investment Policy
  • Don’t simply buy a packaged option for D2H TV. Use Ala Carte Plan to save money. Also in case you are using package option then call your D2H TV company just before the expiry of your package and negotiate a better deal. I was able to get 6 months FREE on my annual package from Tata Sky. That’s 50% discount.
  • Switch To Prepaid Mobile from Postpaid if possible. In case you want to continue using your postpaid plan the see this trick. First, check with your Employer if they offer a corporate plan. Corporate plans are much cheaper than personal plans. If that doesn’t work for you follow this trick. After the launch of Jio, all current mobile phone companies are working hard to retain their existing customers. I have been able to negotiate with Vodafone and get unlimited talk time, 1000 free SMS and 18 GB of 4G data. All this for only Rs 299 per Month.
  • Buy Groceries From Wholesale Markets.
  • Never Keep Your Money idle in Regular Saving Account. Invest it in Mutual Funds. Liquid Funds which are equivalent to savings fund give returns in the range of 7% to 8%.

How to save money on travel & vacations?

Again, these are the various ways I save money. But this is certainly not a definitive list.
  • Always use credit cards for your bookings and earn reward points on all your travel bookings. 
  • Always use discounts and deals for travel booking. Look at multiple travel portals before you finalize your bookings.
  • Leverage payment wallets for additional discounts. 
  • Stay at AirBnb rather than a hotel for long term vacations. Airbnb is the website that enables people to lease or rent short-term lodging. This also includes vacation rentals, apartment rentals, homestays, hostel beds, or hotel rooms. 
  • Book Hotels farther from the city centre.
  • Become a Photo or Travel blogger and get free perks from the travel companies and hotels.
 Coming soon – How to Save Money On Income Taxes so stay tuned
Posted in Financial Planning and tagged CA, habits, save money, save money india, Saving money in India, savings.