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10 Easy Strategies to Boost Your Savings Starting Today

Money saving tips are important if you want to have enough money in the future. Whether saving up for something fun, for your family, or for emergencies, learning how to save money for future is a smart move. Let’s look at 10 simple and easy ways to save money right now—even if you're just starting!

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Written ByShruti gujarathi
AboutShruti gujarathi
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Shruti gujarathi has 5 years of experience in the BFSI sector, and as Manager- Digital Marketing at Bajaj Allianz Life Insurance, manages digital and content marketing. She has had hands-on experience in content strategy, performance marketing and Strategic Alliances over a career spanning 10 years.
Reviewed ByRituraj Singh
AboutRituraj Singh
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Rituraj Singh,With over 6.5 years of experience in the insurance industry, Rituraj Singh, Manager- Product & Brand Marketing at Bajaj Allianz Life Insurance overlooks new product launches, compliance, and brand projects, leveraging artificial intelligence and technology to enhance outcomes.
Written on: 10th May 2025
Modified on: 14th May 2025
Reading Time: 14 Mins
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  • Use a budgeting strategy


    Think of a budget as a plan for your money. It helps you decide how much to spend, how much to save, and how to avoid wasting money. One simple rule is the 50-30-20 rule: Use 50% of your money for needs (like food and bills), 30% for fun (like games or movies), and 20% for saving. This is one of the best saving strategies for staying on track.
  • Increase your income


    Want more money to save? Try finding small ways to earn more! You could sell things you don’t use, help someone with chores, or take up a hobby that makes money. When you earn a little extra, try to save most of it. More income means more savings!
  • Reduce your debts


    If you’ve borrowed money from someone or used a loan, try to pay it back quickly. You'll have more money left to save when you don’t have to pay interest. This is a super smart money management tip—less debt means more peace and savings.
  • Focus on your savings growth rate


    Try to save a little more each month. For example, if you save INR 500 this month, try saving INR 600 next month. Keep increasing slowly, and you’ll be surprised how much you can save over time!
  • Look for high-interest savings options


    Instead of keeping your money in a jar or a regular bank account, you can put it in a smart savings plan that gives more money back over time. These plans can give you money at the end, every year, or in one big amount. They also help take care of your family and save on taxes. It’s a safe and smart way to grow your money while planning for the future.
  • Put money into your savings


    Saving money is good, but you can also make it grow by putting it in the right place. Plans like endowment plans, ULIPs, and dynamic asset allocation funds help your money increase over time. These plans also give your family some protection and can help save on taxes. This way, you’re not just saving—you’re building a stronger future.
  • Tap into the power of compounding


    Some plans help your money grow through compounding. That means you earn interest, and then more interest on that! Starting early helps small savings grow big over time—just like planting a seed and watching it turn into a strong, tall tree.
  • Align your credit card rewards with your spending


    If you or your parents use credit cards, choose one that rewards you for things you already buy, like groceries or online shopping. Just make sure to pay the full amount on time! This way, you get rewards while saving money, too.
  • Make use of budgeting apps


    There are cool mobile apps that help you track your money. Apps like ET Money or Money View help you see how much you earn, spend, and save. They’re fun to use and great for learning money management tips.
  • Rebalance your investments


    Your goals or life plans might change over time. Check your savings and investments at least once a year and adjust them if needed. This helps keep your money safe and growing in the right direction.

Saving money doesn’t have to be hard or boring. With these 10 money saving tips, you can start building your future one rupee at a time. The trick is to be patient, stay consistent, and have fun while saving! Whether learning how to save money for future or finding the best way, starting early is always a smart idea. Try a few of these money saving ideas and see how quickly your savings grow!

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The content provided is for general informational purposes only. The material is compiled from publicly available sources, internal insights, and other information deemed reliable. While reasonable care has been taken in compiling the information, Bajaj Allianz Life Insurance Co. Ltd. assumes no liability for its accuracy. The opinions expressed do not constitute formal recommendations, professional advice, or definitive guidance. Readers are encouraged to conduct their own due diligence and are advised to seek independent professional or expert advice before making any financial or investment decisions based on the content. Any illustrations included are for conceptual clarity only and do not reflect the actual performance of any product or offering.

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*Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.

~Individual Death Claim Settlement Ratio for FY 2023-2024

1Premium Holiday has to be selected at inception to avail this benefit and also depends on other policy terms & conditions


Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

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%%Above illustration is for Bajaj Allianz Life eTouch- A Non Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N172V03) considering Male aged 25 years | Non-Smoker | Policy Term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | Sum Assured opted is Rs. 1,00,00,000 | Online Channel | Standard Life | 1st Year Premium is Rs. 6,238. 2nd Year onwards premium is Rs. 6,659. Total Premium Paid is Rs. 1,99,349 | Medical Rates | Yearly Premium Payment Mode | Death benefit opted is lumpsum payout and monthly installments (Lumpsum Payout Percentage : 45, Income Payout Percentage : 55) | Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only. This is inclusive of all the discounts mentioned above.

##Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.Above Tax benefit is calculated considering deduction of Rs. 150,000 and applicable tax rate of 31.20%.

@Term Insurance plan bought online directly from Bajaj Allianz Life Insurance has no commissions involved.

^^The Return of Premium amount is total of all the premiums received, exclusive of extra premium, rider premium and GST & /any other applicable tax levied, subject to changes in tax laws
Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

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Disclaimer

Bajaj Allianz Life eTouch- A Non Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N172V04)

*Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.Above Tax benefit is calculated considering deduction of Rs. 150,000 and applicable tax rate of 31.20%.

~Individual Death Claim Settlement Ratio for FY 2023-2024

1Premium Holiday has to be selected at inception to avail this benefit and also depends on other policy terms & conditions


Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116


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