I am going to share with you the top ten hacks for saving money in 2024 to ensure you do not get poor over time. I have used these hacks to save money in my life and I am sure it will help you too.

1. Automate your savings

This is important. Research has proven that whenever you have money, in your bank account or in your have. You tend to spend it. So, if you want to save money and want to invest it. Then you must automate those investments.

But how?

Simply you can create SIPs, or buy shares of various stocks every month, or you can invest in mutual funds.

And after that whatever remains, you will run your whole month in that.

Whatever it takes for you to automate it, because if you cling on to motivation, then you may not be able to save money. Why save? To invent.

2. Fasting for a day

You might be working why am talking about fasting to save money. Well, I am not talking about fasting you are thinking of.

Abstain from spending money for just one day in a month. Just try a non-spending day. On that, you will not spend on anything anywhere.

Now, why does this work?

One is discipline comes in. You will get to understand that not everything in life is available just by spending money.

Two, more importantly, you have to live life that day. So, you must spend somewhere. So, what will happen if you are not permitted to spend money because you are abstaining? Then you will have to plan. You must think in advance about that day.

At this point, that discipline will train you how to treat your money with respect.

3. Prefer UPI over Credit

There are reasons for using UPI instead of credit card:

First, this money (UPI) is yours. The money that credits cards give you is not yours. It is a debt. You must pay for it. And that is not a smart way to do it.

Second, whenever you use a credit card, at many payment gateways, you must pay a surcharge (not everywhere). So, why would you want to pay extra when UPI is free?

Third, like I said, UPI is your money and credit card is a debt. So, do not use a credit card if you do not have money in your bank account. Just do not spend. This will make you disciplined.

4. Use Credit Cards

You might be thinking earlier I was forbidding you to buy using credit cards but now I am encouraging you to do so. Why?

Well, I meant to say, use credit card only if you have 100% money in your bank account to pay back.

If you are using a credit card in a smart a way, then it is not a terrible thing if you ask me. Let me clear this to you why?

First, whenever you use a credit card, you get an interest free loan for 30-45 days considering your card’s billing cycle.

If your credit card spending is high, you can put the same amount in debt mutual fund and you can earn a little interest. That interest will not be incredibly significant for sure, but it is free money. Then why leave it?

Second, whenever you use a credit card and pay the bills on time, it improves your credit score which means you get higher credit limits and better offers from companies.

And the third reason to use credit cards is rewards. Most credit card providers give rewards in the form of points or shopping vouchers to their customers for using their credit card.

Occasionally, banks and credit cards offer huge discounts on certain products on e-commerce websites like Amazon, Flipkart, Myntra, etc.

5. Make shopping lists

Whenever you go to buy something, make a shopping list. Even if you are buying online.

But why?

Because the shopping list keeps you disciplined. If you do so, you will not be the one who will enter a mall and then say, let us buy this, buy this, and buy this as well.

Then people at the mall will also play with you and make a psychological pressure on your mind to buy more things before billing by placing different items at the counter. But you must stick to what you want, that is on your shopping list.


If you are shopping online, always use incognito mode in your browser to shop. Why? Let me explain this to you an interesting fact:

When you use incognito or private mode in your browser, the shopping sites treat you as a new customer because cookies cannot track you and they provide the best possible offers to their new customer.

6. 30-day rule

This is a brilliant psychological hack for saving money. It is called the 30-day rule.

Whenever you want to buy something big. Do not buy. Stay back for 30 days and ask yourself after 30 days, is that thing still important to me? Probably, the answer would be “NO”.

And that is how you resist. You would buy only those things that you really need.

7. Prefer renting over buying

If you use something occasionally, then do not buy it, take it for rent. Expensive clothes, gadgets, cameras, vehicles, and what not. Everything is available for rent nowadays.

Then if you are not a frequent user, then you should consider taking it for rent. You will save a lot of money.

8. Buy larger sizes

 The consumption items you buy, always buy bigger sizes. Because the per unit cost of small sizes is higher than larger sizes. Compare it for yourself on online platforms and you will see the difference.

That is why if you have extra room in the house, go for larger sizes rather than small ones. This is how you can save per unit expenditure.

9. Developing a financial budget

Develop a financial budget for your life. This is the most important thing to do. People tend to spend money unnecessarily. Because it is unknown to them where their money is being spent.

There are a lot of budgeting principles. Such as 50-30-20. You might be wondering what is this number all about? It is one of the budgeting principles. It means 50% of your income will go towards your needs which includes EMIs, electricity bill, water, food, clothes, etc.

Thirty percent of your income will go towards your desires that include vacation, partying, buying a new gadget, etc. All of that within 30%.

Twenty percent of your income you will invest in your future. Through this you can do everything you want to do.

10. Focus on making more money

Yes, this is the most important hack. Do not focus too much on saving money. Because the reality is, you must live life. And to live life, a minimum cost is always needed which we cannot avoid. So, every person needs to make a minimum spending. Means, you cannot always cut the expenses.

But there is one thing that you can increase as much as you want and that is your income. So, focus on growing your income.

So, if you are in a financial situation where you do not have lot of money then of course, through these hacks please save as much money as possible. That is the smart thing to do.

But for your entire life, do not just focus on saving money. Instead keep looking for how you can increase your income.

“Do not save what is left after spending but spend what is left after saving.”

Warren Buffett
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