Think saving ₹1,00,000 in a year is impossible with your current salary? Think again. Whether you’re earning ₹10,000 or ₹30,000 a month, saving ₹1 lakh is doable with smart money habits and small sacrifices. This guide will break it down month-by-month and show you exactly how to reach your first 6-digit savings goal—without feeling like you’re missing out on life.

Why Saving Your First ₹1 Lakh Matters:

✅ Builds discipline
✅ Acts as emergency backup
✅ Can be invested for long-term growth
✅ Reduces financial stress
✅ Gives you freedom of choice

It’s not about how much you earn—it’s about how consistently you save.

Step-by-Step Plan to Save ₹1 Lakh in 12 Months:

💡 Step 1: Break It Down

Let’s break ₹1,00,000 into monthly, weekly, and daily goals:

• ₹1,00,000 ÷ 12 months = ₹8,334/month
• ₹1,00,000 ÷ 52 weeks = ₹1,924/week
• ₹1,00,000 ÷ 365 days = ₹274/day

Now the goal doesn’t look scary anymore, right?

📊 Step 2: Track Your Expenses Like a Hawk

You can’t save if you don’t know where your money is going.
Use apps like:

• Money Manager
• Walnut
• Excel sheets

Look out for:

• Leaks (impulse spends)
• Recurring payments (subscriptions)
• Useless charges (late fees, penalties)

Cut ruthlessly where needed.

💸 Step 3: Follow the 50-30-20 Rule (or Adjust It!)

If you earn ₹20,000/month:

• 50% (₹10,000) for needs (rent, food)
• 30% (₹6,000) for wants (entertainment, shopping)
• 20% (₹4,000) for savings

⚠️ Tip: If you want faster savings, tweak it to 40-20-40. Yes—save 40%, live below your means, and watch your bank balance grow.

📦 Step 4: Automate Your Savings

Don’t leave saving to “end of the month.”
Set up:

• Auto-SIP of ₹3,000–5,000/month
• Auto-transfer to a separate bank account

The less you see it, the more likely you are to not spend it.

🧾 Step 5: Reduce These 7 Everyday Expenses

1. Eating out & Swiggy/Zomato → cook 3–4 times a week
2. OTT platforms → share subscriptions
3. Cab rides → use public transport or cycle short distances
4. Online shopping → uninstall apps or delay purchases
5. Mobile recharges → switch to cheaper plans
6. Weekend plans → budget-friendly alternatives
7. Unused gym memberships or courses → cancel immediately

Monthly savings: ₹3,000–₹5,000 possible just from these.

🧠 Step 6: Increase Income Side-by-Side

To boost savings faster, make extra money:

• Freelance content writing, design, or tutoring
• Weekend gigs or internships
• Selling digital products or courses
• Instagram Reels + affiliate links

Even ₹2,000–₹5,000/month extra will supercharge your ₹1 lakh goal.