A Simple Plan Anyone Can Follow might sound like a bold claim, but it’s absolutely true. A year ago, How I Doubled My Savings in One Year, I never thought I’d be writing something like this. Like many people, I assumed that saving money—let alone doubling it—required a six-figure income, extreme sacrifices, or a miracle. At the time, my finances were unstable, my spending habits were unchecked, and my savings account was embarrassingly close to zero. But today, I’m proud to say that I’ve more than doubled my savings in just 12 months—and I did it without changing jobs or winning the lottery. The good news? You can do it too. Whether you’re earning ₹10,000 or ₹1,00,000 per month, this plan is simple, sustainable, and effective.
1. Tracking Every Rupee Changed Everything
The journey began with a single decision: I needed to understand where my money was going. For one full month, I tracked every rupee I spent. I logged everything—groceries, fuel, movie tickets, coffee, online shopping, subscriptions, random snacks, you name it. I used Google Sheets initially, then moved to apps like Walnut and Money Manager for convenience. This small habit gave me a massive insight.
What I discovered was shocking. I realized that a significant chunk of my income—nearly 25%—was disappearing into non-essential purchases. ₹300 here for food delivery, ₹500 there for impulse online buys, and another ₹1000 every month on subscriptions I barely used. These weren’t major expenses, but together they were draining my wallet.
This exercise didn’t just show me the numbers—it changed my mindset. I started to question every purchase. Did I really need it? Was there a cheaper alternative? Could I wait a few days and see if the urge passed? I began practicing intentional spending, which laid the foundation for all future savings.
2. Creating a Budget That Worked for Me
Once I had a clear picture of my spending habits, I moved on to budgeting. But unlike many traditional budgets that are either too strict or too vague, I wanted something that felt realistic and flexible. That’s when I found the 50/30/20 rule—an approach that finally clicked.
Here’s how I broke it down:
- 50% for essentials: Rent, electricity, internet, groceries, and transportation.
- 30% for wants: Dining out, entertainment, shopping, and hobbies.
- 20% for savings: Emergency fund, fixed deposits, or long-term savings.
But I didn’t stop there. After a few months, I noticed that my “wants” category was often overspent, while my savings remained minimal. So I flipped the script: I began treating savings as a non-negotiable fixed expense, just like rent. I increased my savings target to 30%, trimmed my wants to 20%, and still lived comfortably. I set monthly reminders, reviewed my budget every Sunday, and adjusted as needed. This routine gave me a sense of control I had never experienced before.
Budgeting taught me discipline. It made me feel powerful—knowing that every rupee had a job and was working toward my goals.
3. Automating My Savings for Consistency
If I had to choose just one tip that made the biggest difference, it would be this: automate your savings. This was a game-changer. Before, I used to manually transfer money into my savings account “when I had some left over”—and more often than not, I didn’t.
So, I changed the order. Instead of saving what was left after spending, I started spending what was left after saving. The moment my salary hit my account, a predetermined amount was automatically transferred into a separate high-interest savings account. I also set up a monthly recurring deposit (RD), which deducted a fixed amount each month and paid me a little interest in return.
This automation meant that I no longer relied on willpower or memory. I couldn’t “accidentally” spend my savings, because they were already out of reach. I treated my savings like a bill I had to pay—and the consistency made all the difference.
I also created mini-goals. For example, I had a ₹10,000 emergency fund goal, a ₹15,000 vacation fund, and a ₹5,000 festival gift budget. Watching those funds grow month by month gave me constant motivation.
4. Boosting Income and Cutting Debts
Saving is easier when you earn more—but you don’t need a second job to boost your income. I looked for low-effort, high-impact ways to earn extra money. I started freelancing on weekends, offering digital services like blog writing and basic graphic design through platforms like Fiverr and Upwork. I also taught one student math tuition for an hour a week.
This extra income—₹3,000 to ₹5,000 a month—was not spent. It was 100% directed to savings or investments. The beauty of side hustles is that they often rely on skills you already have. Whether it’s photography, tutoring, baking, or video editing—there’s always someone willing to pay if you know where to look.
At the same time, I focused on eliminating debt. I had a lingering credit card balance that was charging me 30-40% interest annually. I tackled it aggressively by using the “snowball method”—paying off the smallest debt first while making minimum payments on the rest. Once one was cleared, I rolled that payment into the next one.
Within five months, I was debt-free. The relief was enormous, and the money I once used to pay interest was redirected into growing my savings.
5. Investing Smartly and Living Simply
Saving money is great, but I realized that just letting it sit in a regular bank account wasn’t enough. To truly grow my wealth, I needed to make my money work for me. I began educating myself on basic investing—nothing too risky or advanced.
I started small with SIPs (Systematic Investment Plans) in mutual funds. With just ₹500 or ₹1000 per month, I dipped my toes into the investing world. I chose low-risk, long-term funds and tracked their performance monthly. Over time, I diversified into index funds and even invested in a few stocks.
I also learned the value of living simply. I decluttered my space and adopted a minimalist approach. I stopped buying things just to feel better or show off. I sold gadgets I no longer used, donated clothes I didn’t wear, and unfollowed online influencers who encouraged mindless consumption.
I shifted my focus from things to experiences—from spending to saving, from instant gratification to long-term satisfaction. Surprisingly, this not only saved me money but also brought me peace of mind and clarity.
Final Thoughts: It’s Not Magic—It’s Mindset
By the end of the year, I had not only doubled my savings—I had built financial confidence. My net worth had increased. My stress had decreased. Most importantly, I had developed habits that would serve me for a lifetime.
This journey wasn’t about big sacrifices. I didn’t give up my social life or live like a hermit. I made smarter choices, stayed consistent, and kept my goals in sight. The truth is, anyone can do what I did.
You don’t need a fancy job, financial degree, or a stroke of luck. You just need a plan—and the courage to follow it. Start by tracking your expenses, create a simple budget, automate your savings, find a way to earn a little extra, and make small investments. Live intentionally, spend mindfully, and believe in progress over perfection.
If I could go from nearly broke to financially empowered in one year, so can you. Your future self will thank you.
1 thought on “How I Doubled My Savings in One Year – A Simple Plan Anyone Can Follow”