How To Save 1 Lakh In 6 Months – Practical Guide

How to save 1 lakh in 6 months is possible but listen to how much you are looking to save that’s the big question. If your salary is 10,000 then according to this you need 10 months which is not practically possible right to save all 10,000 of 10,000 salary stay tuned along with me to learn a better and more practical guide on how to save 1 lakh in 6 months.

Disclaimer:- Do your own analysis before putting money anywhere. This is only for educational purposes.

So let’s start without delaying it anymore. I have divided this article into a couple of parts you can look at which suits you best according to your salary package okay?

Note:- How to save 1 lakh in 6 months might be challenging so have a strong approach to saving money

Challenges you might face while saving

1. Emotions might come into play when you try to save money but you need to have strong discipline
2. Might you get some good deals to buy a phone you can’t make this mistake.
3. Sometimes it may frustrate you but you need to be on the hunt
4. Need to learn more about personal finance

Saving Rule

Income – Expense = Saving ( Wrong 9 out of 10 people follow this )

Income – Saving = Expense ( Right 1 out of 10 people follow this )

This saving rule will definitely help you because I know that small changes every day create a huge impact in the future. So incorporate this saving rule to maximize and save any amount of money easily. How To Save 1 Lakh In 6 Months road will become very easy if you follow this rule trust me.

How to save 1 lakh in 6 months

Considering below first two cases no one is dependent on a 10,000 and 20,000 salary. Because it will be very impractical to guide you in general if you have many members dependent on you if you earn 20,000 salary or less.

1. If your salary is 10,000 Rs

If your salary is 10,000 Rs it is not practically possible to save all right out of 10,000 salary. So here you can do one thing save 3,000 Rs and develop some skills and look for a new high-paying job. First thing first is that this is not about arranging 1 lakh in 6 months it is a matter of you can’t live your life with a 10,000 salary I hope you got my point. Otherwise, it will take you years to save 1 lakh with a 10,000 salary. Investing money will work for a longer duration.

You have the trading option if you know how to trade you can grow your money in a few months. But if you don’t know how to trade stay away otherwise you will lose what you have everything.

Balance remaining 7,000 Rs out of 10,000 salary if you spend 3,000 for upgrading skills.

Related article – How to save money with 10,000 salary

2. If your salary is 20,000 Rs

If your salary is 20,000 Rs it is practically possible to save some amount of money. In this case, you need to save 5,000 for saving and 3,000 for developing skills. Once you master the skill you look for a high-paying job simultaneously.

Balance remaining 12,000 Rs out of 20,000 salary if you spend 3,000 for upgrading skills.

3. If your salary is 30,000 Rs

If your salary is 30,000 Rs it will be very easy and you have now lots of options if your income is more than 30,000 Rs. Now what you can do is 2 options you have. First you can save 20,000 for a straight 5 months and you can easily achieve that 1 lakh income within 6 months. This is a short-term goal.

Second is that you can save 15,000 Rs for 6 months and 5,000 Rs for upgrading your skills. So you can also look for high-paying jobs simultaneously.

Balance remaining 10,000 Rs out of 30,000 salary if you spend 5,000 for upgrading skills and save 15,000 Rs every month.

4. If your salary is 40,000 Rs

If your salary is 40,000 Rs it will be very easy. Now what you can do is you also have 2 options you have. First, you can save 20,000 for a straight 5 months and you can easily achieve that 1 lakh income within 6 months. This is a short-term goal.

Second is that you can save 15,000 Rs for 6 months and 5,000 Rs for upgrading your skills. So you can also look for high-paying jobs simultaneously.

Balance remaining 20,000 Rs out of the 10,000 salary if you spend 5,000 for upgrading skills and save 15,000 Rs every month.

5. If your salary is 50,000 Rs

If your salary is 50,000 Rs it is a straightforward calculation. Save 25,000 Rs for 4 months to save 1 lakh within 6 months. If you can get some skills which will help you to achieve a high paying job.

Balance remaining 25,000 Rs out of 50,000 salary.

6. If your salary is 100,000 Rs

I mean why you are asking this question “How To Save 1 Lakh In 6 Months” IF your salary is 100,000 Rs it is a straight answer save 50,000 Rs for 2 months to save 1 lakh within 6 months. If you can get some skills which will help you to achieve a high paying job.

Balance remaining 50,000 Rs out of 100,000 salary.

Things to consider

I tried to tell you to invest some amount of money anyhow upgrading your skills. Whether you are earning 10,000 salary or 100,00 salary it does not matter the day you stop learning the day you stop earning note that also or your growth will be flat once you stop learning.

Other ways to arrange 1 lakh in 6 months

1. Ask for help to family or relatives or friends if you need urgent money
2. Try asking loan ( If it is very important and urgent )

FAQ’s

Well, I tried to give my best to illustrate you you too know without knowing your salary how to save 1 lakh in 6 months I had provided to get a rough idea. You can customize it according to your.

How To Save 1 Lakh In 6 Months will not going to be easy if you are doing it for the first time. But listen every new thing is always the first time. Now it’s up to you how you deal with money. I hope you get some information which will help you How To Save 1 Lakh In 6 Months. If yes don’t forget to share because sharing is caring.