Why Saving is Hard But Important
In Bangladesh, where inflation and living expenses continue to rise, saving money on a limited income can feel impossible. However, even small, consistent savings can lead to financial stability and future opportunities. The key is discipline, awareness, and a strategy.
1. Track Every Taka
Start by tracking your daily expenses. Use a simple notebook or free mobile apps like Money Lover or Walnut. When you know where your money is going, you can spot areas to cut back — like unnecessary snacks or impulse purchases.
2. Set Clear Saving Goals
Instead of vaguely planning to “save more,” set realistic goals. For example: “Save Tk. 500/month for emergency fund” or “Tk. 1,000/month for exam fees.” Goals give purpose to your savings.
3. Follow the 50/30/20 Rule (Modified)
Use a simplified version suited for low income: - 70% for needs (rent, food) - 20% for savings - 10% for wants or personal care
Even saving 10-15% is better than saving nothing.
4. Cook at Home, Carry Lunch
Eating out is a major budget killer. By cooking at home and carrying lunch to work or university, you can save Tk. 3,000–5,000 per month easily.
5. Use Local Discounts and Offers
Many mobile apps offer cashback, discounts on rides, and grocery offers. Use bKash cashback, Pathao offers, and local discounts — they all add up over time.
6. Avoid Debt Traps
Do not fall into the loan or EMI trap for lifestyle items. Avoid credit cards unless you can pay them off in full each month. Pay in cash when possible.
7. Save Before You Spend
Whenever your salary or income comes in, first save a fixed amount (even Tk. 500), then budget the rest. Automate this if possible using a DPS (Deposit Pension Scheme).
Bonus: Use a Money Jar Method
Use separate envelopes or jars labeled for Rent, Food, Emergency, etc. This visual method helps control spending and build discipline.
Conclusion
You don’t need a high income to save — you need a strong will and a smart system. Small, steady savings lead to financial independence. Start today, even if it’s just Tk. 100.
Remember: Saving is not about how much you earn, but how well you manage what you have.
