How to save money when you earn 15000 only


KF Mentor
I would suggest first see what are your monthly expenses like:
1. Utility bills
2. Expenses on food, rent, any EMI etc.
Try to avoid any extravagances.

Then, depending on how much money is left out of your monthly income, find a suitable investment scheme and invest.
In my opinion, monthly investment options like:
  • RD in the post office
  • SIP in Mutual funds
would be suitable in such cases.

Feel free to ask if you have any questions.
will completely depend on your expenses. If you stay at home with your parents, i reckon you should be able to save a component of this. But if you're single staying in a separate city, then saving money would be relatively tough
I agree. I earn around 20k per month and live with my parents, so I save around 15k and spend 5k per month on miscellaneous expenses, as I don't have to think about paying bills, for food, or for rent. Out of the 15k I save, I invest 5k in mutual funds and deposit the remaining 10k in a fixed deposit (FD). I then save up the FD to make big purchases for the family or for myself, but I never touch the 5k that I invest in the mutual funds.


Staff member
@amanpreetsinghsidhubrar@g I think what you're doing is phenomenal. I would just add couple of more points to this

1) I would recommend you to build an emergency fund for yourself worth 1 years of expenses. You can put that money in an FD/ Different Savings A/C and never touch that money unless it's an EMERGENCY

2) Additionaly I would advise you to get a decent Health Insurance Plan for both you and your parents. Get a min 15-20 Lakh cover


KF Rookie
you should invest that money on yourself and upskill yourself first if you are in between 18 - 21 years
if you are older then 21 then you really need to think of a plan of action to increase your monthly income in the next 2 years
investments only help when you atleast put in 10k or more but if you do this now you will not be able to upskill yourself so focus on that first
as you earn more invest that money while still investing in yourself for eg
you are earning 20k and you are left with 15k dont invest this money for the first 6 months you will have around 90k which you should use to upskill the money should atleast increase your monthly salary from 20k to 25k min at the end of the year you should be getting 30k now for the next 6 months if you think you will need more money to upkill use it all or else use the added income to invest
dont think of investing before 23 or so but if you start earning more from a younger age then start investing

dont invest in stocks directly
only 2 MF you will need for now
from which i would recommend nifty 50 direct growth atleast 5k each month
others are
smallcap 250 index MF direct growth very high risk only put amount that you are ok with losing


KF Rookie
Hi folks,
I am in Canada i want to be settled in India but I have to pay 1M credit to relatives. And I want to start my own. Business with small money in Punjab hoshiarpur please suggest



KF Rookie
How to save money when you earn 15000 only
When managing a salary of 15,000, adopting a savings-oriented mindset is commendable. One effective strategy is following the 50-30-20 rule, allocating 50% to cover basic needs, 30% for discretionary spending or wants, and dedicating 20% towards savings and investments.

It's also valuable to invest in self-improvement by taking courses or acquiring new skills. Enhancing expertise can potentially lead to salary increases or better job opportunities, boosting long-term financial prospects. This proactive investment in self-growth aligns with building a stable financial future despite a limited income.


KF Rookie
You have to deposit all your income in bank , when you need money for your expenses you have to withdraw with online banking like gpay etc.
After 6months which amount will be pending in your a/c you can make fd or invest in shares
With this rule you can save and earn by intrest, online payment discounts also you can get a health insurance/life iny from bank with nominal price


KF Expert
Running a family in 15k is tough. But you are managing it and you want to save- commendable.

As per my opinion you can't save the remaining money after all your expenses in this income range. You have to save first. Then the remaining can be spent.

I think you should try to save atleast 3k every month. For this first of all you have to create an RD OF 1K for 1year, a standing instruction to transfer 1k in a separate bank account without ATM card and check book. And an sip of 1k in a good mutual fund.

When the rd machure put it in FD and create another rd for 1year.

In case of emergency you can withdraw the amount from other account visiting branch. But for small things you can't use it.

You have to get everything done in 12k.

In this way you can save 36k per year.

And in the meantime you have to look for more ways of income.