How to Save Money in 15000 Salary?

Being in a world of salaried employees gives you the freedom of paying your own bills without wondering about your pay day. But with this freedom comes the responsibility of planning your monthly expenses. How to save money in 15000 salary. If you are also looking for an answer for the same question then you do not need to worry about things like sales commission at the end of every month if you plan, save and spend accordingly.

Irrespective of the fact whether your income is high or low, you should save accordingly for the future. Living from one paycheck to another has nowadays become a new way of living life. This means that you might not have any savings to cover any expenses apart from your monthly expenses. You should start saving money from your first salary. Rather than thinking to save it from the next salary you should start saving from the first paycheck itself.

Once you have saved a decent amount of money. You should think about investing that money to be able to get returns from that money. Moreover, you should never be dependent on only one income. Because the money that you have saved from your first paycheck, shall be invested at such a place that would give you monthly returns. As soon as we hear the word investment, the first thing that crosses our mind is “Share market”. Share market, although being a risky place to invest your money, can also give you huge returns on your investment if you have adequate knowledge about how you should invest in the market.

The thought of saving money from the very first paycheck might seem difficult. But you would, however, realise its significance in the long run. Irrespective of the salary amount you should always begin by planning your expenses. Planning should not only cover your monthly expenses but you should also have a decent amount of savings to cover any unexpected expenses.

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How to Save Money from Salary

Below mentioned are some ways in which you can start saving money:-

Plan Your Expenses

The first step to save money from your salary is to plan your everyday expenses and spend accordingly. With a salary of INR 15,000 the basic expenses that you need to pay for are rent, food, travel, electricity and telephone bills and other overhead expenses. If you would not plan your expenses then you might end up being broke at the end of every month. You should have a budget to spend on every category accordingly. 

Prioritize Things

Now that you know that you need to spend accordingly on every category. You need to prioritize your expenses. The recommended expense breakout according to the various expenses, for a salary of INR 15,000 is shown in the table below:

Expense Breakout (If Living Alone)

ExpenseAmount (In INR)
Rent 5000
Electricity Bills1000
Telephone Bills500
Overhead Expenses2000

The above mentioned table shows the expenses. That you can pay with a salary of INR 15,000 if you are living alone. However, you won’t be able to save any money if you spend as mentioned in the table above. You would have no money left at the end of every month. However, if you want to save money at the end of every month after spending on everyday expenses you can try living with someone like your friend.

Living alone and living with someone can make a huge difference on your expenses. You can split your expenses and rather than paying fully some expenses like rent can be brought down to half amounts. The below mentioned table shows the Expense breakout if you are living with someone.

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Expense Breakout (If Living With Someone)

ExpenseAmount (In INR)
Rent 2500
Electricity Bills500
Telephone Bills500
Overhead Expenses2000

In the above mentioned table it is evident that common expenses like rent, food and electricity can be shared amongst two people rather than paying alone. If you are willing to share a room with someone then you would be able to easily save around INR 1250 at the end of every month which you can further think of investing and earning a return.

Moreover, you can reduce your travel expenses if you and your roommate work at the same place. Both of you can travel to work together, saving a lot of money on your travel expenses. Also, you can cut down your travel expenses by living near your workplace so that you don’t have to spend much on your travel expenses.

Apart from the travel expenses common expenses like Wifi are included in. The electricity expense which can also be split between the two roommates. Individual expenses would however remain the same like your mobile phone recharges or telephone bills. Overhead expenses also remain unaffected as these cover all of your individual expenses like your cigarettes or drinking expenses, if any. Individual shopping like buying clothes and personal items are also included in the overhead category.

Shop Online

In today’s world you can save more by buying essential items online rather than bargaining from an offline store. From groceries to clothes, you can save on almost everything because there is always some ongoing offer on one or the other online shopping portal. Moreover, you can buy groceries from Grofers or from Swiggy’s Instamart which offers some great deals if you order your monthly groceries from them. Swiggy even tries to deliver your order within 15 to 30 minutes. 

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No withdrawal Bank Account

This method is especially recommended for those impulsive buyers who cannot maintain an account balance and would spend on anything if they have the resources. If you are saving some amount at the end of every month and are unable to avoid unwanted expenses because of that surplus funds you can try this method. However, you can try opening a zero-balance bank account without any withdrawal facility like a debit card or cheque book.

The main objective of doing so is to deposit your savings in such a bank account that every time. You would want to withdraw money from this account, you will have to visit the bank’ branch. When you would have to visit the branch to withdraw money then you can ask yourself. If the expense is really worth doing that or not and in most cases. You will end up avoiding that expense rather than walking up to the bank and making a withdrawal. Moreover, this money will sit in that bank account and would earn interest.


The above are the points that would help you how to save money in 15000 salary. Though it may seem difficult or impossible at first. But if you are dedicated towards doing it then, it will work. Therefore, it is possible to save money in 15,000 salary.

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