Seriously are you asking this question how to save money with 10000 salary? Well, I have a solution for this but do you know what you need to make sure that you will follow with a discipline.
Note:- You can’t live your whole life with 10000 salary you need to move on to the next level. That’s why I had provided you how to save money with 10000 salary and also how to take the next step
Contents
8 Practical tips on how to save money with 10000 salary
No.1 Stop unwanted expenses
Listen in order to save money you need to save the amount of money from somewhere to start saving right. Considering you earn 10,000 Rs and no one is dependent on you because 10,000 Rs salary is too low to fulfill many people’s requirements. And when it comes to tier 1 cities like Mumbai forget about fulfilling your desire you barely can get your needs done in 10,000 Rs.
The second thing is that no matter how much you try to save you can only save a maximum up to 10,000 Rs which is practically not possible to save all 10,000 from 10000 salary because you too have some expenses of college fees or whatever. Still you can at least try to save 20- 30 % of your salary. So in this case let’s say you save 3000 Rs every month from your 10,000 salary.
No. 2 Invest that 3000 Rs
Well, when I talk about investing people always look to invest that amount of money in stocks or anywhere else. But listen you don’t want to do this. Yes you heard it right don’t invest that amount of money in stocks. Instead invest that amount of money upgrading your skills. Buy some course or acquire some skills so that you can raise the bar of your skills. Now once you are done with this you are good going.
No. 3 Look for high paying job
Once you acquired that high-paying skills you can look for a good job. I know it might take 3-6 months to acquire that skill no problem. Simultaneously you can look for high paying job while continuing your previous job. Don’t leave your job. Once you get good-paying job then only you can leave your previous low-paying job.
No.4 Time to save money
Now is a great time to save money. Because you never know what will happen tomorrow. So I highly suggest that you should take care of money. Don’t waste unnecessary amounts. You can try the 30-day saving rule to maximize your savings.
No. 5 Create Emergency Fund
Well, it is very important to make an emergency fund. The emergency fund is something that you save some amount of money for any uncertainty. Which can happen anytime with anyone. So it’s highly said to make an emergency fund. If you don’t know how to make emergency funds you can go through the below link.
Related Articles – How to create a Emergency Fund
No. 6 Do Budgeting
Budgeting is very important if you want to make your self-discipline with money, you need to make sure that you create a budget and stick to it.
Related Articles – How to creat a budget and stick to it
No. 7 Invest money in stocks
Invest in stocks or anywhere where you know. Don’t blindly invest your money if you don’t have the idea go and study and then put your money in stocks. Investing is one of the best ways to become a millionaire.
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No. 8 Have a patience
It is time taking. I have not given any shortcut that will help you to save money with a 10000 salary. I had provided practical steps to get a solution of how to save money with 10000 salary. So I highly suggest you first follow a few months and I am sure you will get to your goals if you sincerely follow it.