Introduction
Every month feels like a repeat of the same story — your salary arrives, and before you even realize, it’s already gone. If you feel like your money disappears without your permission, trust me, you’re not alone.
As an accountant myself, I know this struggle all too well. That’s why I’m sharing some real, practical budgeting hacks that can help you take control of your salary, boost your savings, and organize your financial life. Who knows, this blog might just be your turning point!
Why We Fail to Save Money
Each salary cycle feels like a fresh start, but there are common reasons that keep us from saving:
Impulse Spending: Online shopping, food delivery, and sudden weekend plans can quickly blow your budget.
No Spending Plan: Without a proper monthly budget, your money tends to vanish without warning.
EMI Overload: Fixed EMIs for phones, bikes, or loans eat up a major chunk of your income.
No Clear Saving Goals: If you don’t have a purpose for saving — like an emergency fund or future investment — your money just floats around with no direction.
The 50-30-20 Budgeting Rule
Here’s a simple and effective formula to manage your salary:
50% for Needs: (e.g., If your salary is ₹40,000, spend ₹20,000 on essentials)
This includes rent, groceries, bills, and other must-have expenses.
30% for Wants: (₹12,000 for things you enjoy)
Movies, dining out, shopping, or subscriptions — this is your fun money.
20% for Savings/Investments: (₹8,000 should go into savings)
This is for your future — emergency fund, mutual funds, SIPs, etc.
Accountant-Style Budgeting Hacks
Here are some accountant-approved tips that I personally use:
1. “Save First, Spend Later” Rule
As soon as your salary is credited, immediately transfer 20% into a separate savings account. This reduces the temptation to spend it.
2. Automate Your Savings
Set up auto-debits for RD, SIP, or mutual funds. This removes the manual effort and ensures consistency in savings.
3. Use Excel or Free Budgeting Apps
Track your daily expenses using an Excel sheet or free apps like MoneyView or Walnut. Knowing exactly where your money goes helps in cutting unnecessary costs.
4. Categorize Your Spending
Just like you categorize client accounts, do the same for your personal expenses — fixed (rent, EMI) vs variable (entertainment, shopping). This helps you avoid impulsive purchases.
5. Try ‘No-Spend Days’
Challenge yourself to have one ‘No Spend Day’ each week. On this day, avoid all non-essential spending. This habit alone can save you a surprising amount over time.
Short-Term vs Long-Term Planning
Short-Term Goals:
Think emergency funds, small vacation savings, or gadget purchases.
Long-Term Goals:
Retirement planning, buying a home, or building a solid investment portfolio.
Start a monthly SIP (Systematic Investment Plan) — it’s one of the best ways to grow your money with the power of compounding.
Real-Life Example
I once noticed that I was spending nearly ₹4,000 every month just on food delivery. When I started categorizing my expenses, I saw exactly where my money was leaking and made simple changes to cut down those costs.
Small realizations like this can completely transform your financial habits.
Conclusion
These simple steps can help you take full control of your money — no matter what your salary is. The key is planning. If you want to build a secure future, start developing your budgeting habits now.
If you found these tips helpful or want a personal budgeting template, feel free to drop a comment or email me. Your financial future is now in your hands!
