8 money saving hacks that you need right now
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Personal Finance
- Swati Tripathi
- 2022-12-10
- 03 min read
#best ways to save money
#financial planning
#money saving

As a Gen-Zer, you must be familiar with the saying “Money doesn’t grow on trees”. If we have established a connection here, then you would definitely want to read further. 

Has the pursuit of luxurious pleasures often caused a conflict in your daily spending? “Should I buy that 5G smartphone” or “I wish I had that ring light” are some FAQs your mind gets confused at, most of the times! Being a Gen-Zer can be a difficult business primarily because of no fixed earning sources.

Some of us are still students waiting for the monthly pocket money, while some of us have just set foot on our professional journey as interns relied on stipends. If you are thinking financial planning is out of your league, let us enlighten you with a fact!

According to research, we’re the smartest generation born till date. We are the digital natives & a by-product of generational shift, surviving & striving amidst technical algorithms. Hence proven, quick understanding is engraved in our neurons. Being smart at financials is easy when you know the correct approach & ready to dwell on real life money-saving algorithms.

We have compiled 8 best ways to save money that are simple & absolutely life-changing! 

HACK #1: Make a Budget 

A new month has commenced, your savings account looks lively. Now, do your thoughts find their way to unnecessary expenses? If yes, you need to decide on a dedicated amount you’d spend per item on the list and evaluate expenses that you would be able to cut down. 

HACK #2: Don’t set up a lease with friends 

A friend in need, is a friend indeed… till you both find yourself in a financial puddle. Relying on another Gen-Zer with the same lifestyle & same spending habits might lead to recurring money renting. You need a friend specialized in finanship to help you understand financing planning. 

HACK #3: Don’t rely only on credit cards 

Instill a financial discipline before you start swiping your credit card. Using a credit card can help you achieve a great credit score, but make sure to keep late payments off the chart. It can not only affect your credit score, but interfere with possible future prospects like home loan, car loan etc. 

Also Read: Let’s Decode Personal Finances for Gen Z: The 50-30-20 Rule

HACK #4: Have a dedicated saving goal 

If your expenses add up to deters your money saving goals, you need to relook at Hack #1. Start by figuring out why you need to save in the first place & reimagine the big plans you’re saving for. Set up an achievable amount or goal that is 100% possible to meet. Derailing from a well laid financial planning will only take you back to the ground level, so stay focused. 

HACK #5: Cut out impulse buying 

Online shopping has transformed our spending behaviors completely. We find ourselves spending more time on shopping apps, relentlessly adding to cart & making impulsive purchases. Your shopaholic self will only find it relaxing till you reach mid-month, ultimately regretting your purchase! Rather give yourself time to retrospect your requirements & save for the same so that you don’t burn a hole in your pocket. 

HACK #6: Look out for rewards & cashbacks 

From coupons to bonuses, rewards to cashbacks- they are one of the best ways to save money. Whether you’re ordering food or a brand new pair of shoes, money saving can be practiced anywhere & anytime. Now that we’re talking about rewards, we’d like to tell you that NuCash offers a bonus of up to ₹125 when you sign-up for the waitlist. 

Also Read: Neobanks for students: The benefits

HACK #7: Ditch expensive memberships  

Whether it’s a gym or a club membership, anything that costs extra than you can afford, is a bad choice. Rather than loaning to renew them, set them as your goals and use your own money to pay for them, all you need is a better perspective & financial planning. 

HACK #8: List out a no-spend day 

Don’t rush, and take it slow. Just for a day. For example, if you’re spending ₹500 per day, you can save a considerable sum if you dedicatedly complete a no-spend day every week. 

Managing finances effectively will help you learn from your spending mistakes. Now that you have taken the first step to learn a thing or two about savings, you’d be happy to meet NuCash, your Nu financial friend. Best financial planning, maintaining transparency & being 100% honest is its way to fulfill finanship!

Are you ready to take a plunge into a money-saving lifestyle? Stay tuned, our app is launching soon. 

Also Read: How to Quickly Repay Education Loan



Q. How to get started with budgeting? 

Build a tracker. 
Take a note of the average money you get per month. Count your expenses and fill it in your tracker everytime you spend a considerable amount. Divide them into fixed & variable expenses. Try cutting down some amount from both whenever you find an opportunity. 

Q. What is a credit score? 

Credit Score is usually a three digit number, designed to signify the associated credit risk. It helps in determining  whether a person is eligible for loans or mortgages. One’s payment history, length of credit history & owed amount can influence the score. 

Q. Should I opt for a saving plan? 
Yes, the earlier you start, the more you save! You can always opt for a fixed deposit or a similar scheme that has a higher rate of interest than a savings account. An early saving plan is one of the safest options considered to meet short as well as long term goals. 

Also Read: How to Read a Job Offer Letter



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