Introduction
Living on a ₹15,000 monthly salary might seem tough, but with smart planning, it’s absolutely possible to save. Whether you're a student, an entry-level employee, or a freelancer, you can manage your money better with simple budgeting techniques.
Step 1: Know Where Your Money Goes
Track every rupee you spend in a notebook or budgeting app. Categorize your expenses into:
- Rent/Accommodation
- Groceries
- Transportation
- Utilities (Electricity, Internet, Phone)
- Personal & Miscellaneous
Step 2: Create a Monthly Budget Plan
Here's an example budget for ₹15,000/month:
- Rent/Room: ₹4,000
- Food & Groceries: ₹3,000
- Transport: ₹1,000
- Utilities & Phone: ₹1,000
- Personal (clothing, mobile recharge, etc): ₹1,000
- Savings: ₹2,000
- Emergency/Health: ₹1,000
- Entertainment: ₹1,000
Tip: Follow the 50-30-20 rule – 50% needs, 30% wants, 20% savings. Adjust it slightly for your income level.
Step 3: Cut Unnecessary Expenses
Here are easy ways to reduce costs:
- Cook at home instead of eating out
- Use public transport or cycle
- Limit online shopping and OTT subscriptions
- Buy second-hand when possible (books, clothes)
Step 4: Use Savings Wisely
Don't just save, grow your money:
- Open a recurring deposit (RD)
- Use apps like Jar or Piggy to invest micro-savings
- Start an SIP with just ₹500/month
Step 5: Look for Extra Income
If possible, boost your income through part-time work or freelancing. Some ideas:
- Content writing, tutoring, or data entry
- Sell handmade crafts, snacks, or used items online
- Monetize skills on Fiverr or Upwork
Conclusion
Budgeting on ₹15,000 isn't easy, but with discipline, goals, and small sacrifices, you can manage well and still save monthly. Focus on needs, cut down on wants, and invest in your future one step at a time.