1. Create a monthly budget.
     Saving money is keeping track of where your money is going and exercising control over your costs. Create a monthly budget by categorising your expenses and sticking to it. The budget will help you avoid overspending, which means you will have more money to save each month from your salary.

 2. Reduce your monthly spending.
     You cannot live without the following, but you can certainly find alternatives.

Reduce your costs.
Recharges for mobile phones
Smart online purchasing
Grocery shopping with caution
Expenses for entertainment
Bill for electricity Outside meal orders
credit card usage
Expenses for drinking and smoking
Reduced spending in these areas will allow you to save money from your salary each month.

3. Debt must be avoided.
     Pay off your existing bills first to prevent falling into a debt trap.The concept is to save money and earn interest on it. So, unless you have a compelling reason, avoid incurring new debt.

4. Save your pay raises or bonuses.
     It's tempting to utilise a raise, incentive, or bonus to reward yourself whenever you get one. There is such a thing as lifestyle creep! Isn't that right? You don't have to spend more just because you make more! Resist the urge to spend the extra money and instead put it into savings.

5. To avoid penalty costs, pay your EMIs on time.
     If you have an ongoing loan or credit card payment, make sure you make your monthly installments on time. Late fees or penalties for missed or delayed payments can deduct a large amount from your earnings and reduce your savings potential. So, to avoid late payments, try setting up automatic payments from your bank account once a month.

6. Make your savings automatic.
     As soon as you get your paycheck, put at least 20% of it into a savings or investment account. It is recommended that this process be automated in order to create interest on investments and avoid missing them through a systematic investment plan.

7. Unnecessary subscriptions should be cancelled.

     People routinely sign up for services they do not require. For example, whether or not they use Hotstar, many people pay a premium subscription cost only to watch IPL. People frequently pay membership dues even though they never use the services. You should avoid doing this because it adds to your monthly expenses.

8. There will be no credit cards or personal loans.
     Despite the ease with which credit cards and personal loans are available, avoid using them. Both of these tactics result in slowly accumulating debt, and you will eventually lose control over your monthly expenses. Use UPI as much as possible because there are no transaction costs associated with any payments made through it.

9. Stay away from late fees.
     Late fees on credit cards are an unneeded expense that is usually the result of a lack of methodical preparation. If you frequently forget to make payments, get an app that can remind you or automatically make the payment.

10. Avoid making expensive purchases.
      Young people frequently want to shop online, eat out, go to the movies, and buy new clothes. But are these outlays necessary? These are luxuries, and it is entirely possible to exist without overindulging in them. Set a limit on these pleasures based on your income. The normal advised maximum for spending on fun and enjoyment is 15% of your salary. At all costs, avoid exceeding this limit.

11. Purchase in bulk.
     It is advised to buy in bulk the items you require on a regular basis and have a lengthy shelf life. It not only saves money by purchasing in bulk, but it also reduces the frequency of store trips. As a result, less money is spent on impulsive purchases and vacation.

12. Make it difficult to obtain your money.
     Spending becomes more difficult when your money is less accessible, i.e. not in liquid form. The harder it is to get your money, the less inclined you are to spend it.

13. Ideas for low-cost entertainment.
     Another area where you may be able to save money is in entertainment. With so many subscription options available, such as Amazon Prime, Cable, and Netflix, you may be able to reduce your movie spending. Instead of spending money, consider participating in outdoor activities such as hiking or camping. Furthermore, socialising should not be costly. Instead of going out to eat, consider throwing a house party or a potluck supper.
14. Take good care of yourself.
     Don't jeopardise your health. It is preferable to take care of your own health in advance than to lose all of your savings by being unwell later.