How to Save Money in Your 20s in India: Practical Tips You Can Start Today

Learn how to save money in your 20s with our comprehensive guide on saving money. By creating a personalised budget and identifying areas of overspending, you can take control of your expenses and pave the way to financial stability. Start implementing these practical tips today and witness the positive impact on your financial well-being.

10 Best tips to save money in your 20s as a college student.

Use Second Hand Books

Most of us go for purchasing new books just because everyone is buying but we don’t always need new books almost every year, although the edition of the book changes but the data in the book you usually keep is the same. And only a few questions are changed which basically changes the serial number example question number 10 becomes question number 15 and question number 15 becomes question number 3 so overall the book that will always go for purchase should be a second hand one at least until the new data is added to the book.

Cut Out Unnecessary Expenses

Most of us incur some unnecessary expenses in our college life like drinking tea regularly just for fun or just to get relaxed or eating fast foods which ultimately damages your immune system and also becomes your unnecessary expenses. But you should discourage unnecessary expenses which you think you don’t need and motivate yourself towards the term to save money in your 20s.

Avoid Bad Habits

Some of the students usually have very bad habits like smoking, drinking, roaming here and there using their bikes, placing things anywhere and forgetting about it, and many more. But this habit doesn’t let us save money in your 20s. The only thing that one should do is avoid each and every bad habit like if you are a smoker then you should avoid it if you don’t do it then you could waste almost 400-500 rupees in a month.

Come Out of Comfort Zone

The comfort zone is a very very dangerous zone for every student. Usually while being in a comfort zone we don’t do much as we think it will let us feel discomfort but this is the thing you should avoid. If you are an AC lover then your electricity bill will be higher so you should avoid it so that your expenses will automatically be cut out and again you will be able to save money in your 20s. You should walk some distances so that you will be able to save a little money which will ultimately make you feel that you are saving money.

Use Pencils Instead of Pens

In our practice period most of the students or I say every student use pens for practicing subjects like maths or physics. But you should use pencils for that so that you will be able to erase the things written on your notebook and you will be able to write on it again. And if there is something necessary to be remembered then go with pens but try to write with pencils.

Wear Normal Clothes

Avoid wearing stylish or luxury clothes in your daily life if you are willing to save money in your 20s. Most of the students wear stylish dresses just for impressing their friends or we say special friends. But you should avoid it. You should wear normal clothes in daily life or daily college life so that your new clothes will be as it is. And in any function you can wear that and you don’t have to buy another one.

Use Student Discounts

There are many sites and apps which offer students a discount for purchasing their items. So every student must use it. There is no need to buy on the actual price if they are offering discounts for students then must use it. Apps like Amazon, Apple, Samsung, etc offer a good discount for students.

Earn As You Study

We as a student can’t earn very much and save money in your 20s but there are several ways which we can follow for earning as a student. Like we can go for tutoring courses, freelancing, or doing something for someone and asking some money for that. There are basic things which a normal student can do. Like he can join a tuition centre nearby where he will teach students obviously juniors for 2-3 hours and monthly get a salary of atleast 4000-5000 indian rupees.

Choose shared accommodation to stay

Although every one of us uses hostels and PGs to stay, there are some students who stay in their private rooms and want to save money in your 20s so comfort and money can’t stay together. Hence, students should use shared accommodation to stay in hostels and PGs where 2-3 students live together and share the rent among them, which ultimately reduces your expenses.

Everyone can give you advice to save money in your 20s but the thing that you can do on your own is making a budget in which every student fails and lastly has to borrow some money from others. But you are a financebypri reader so you don’t have to do these things, we have suggested you so many ways to save money in your 20s. So go for preparing a budget as you already know what things in which you are wasting your money. So go for it and cut out your expenses and live a happier life.

Conclusion

Saving money in your 20s is not a great thing which if you do then you will become rich like Mukesh Ambani or someone else. It is a basic thing which everybody does in his life and if you want to learn more tricks like this you can click here. It doesn’t mean that you are stingy – it means you are a well planner. And you follow a single or double of the tips then you will be able to see the results at the end of every month.