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Simple Ways to Save Money

How to Save Money

To start your investment journey, you need to save up first. Then your saved corpus can be put into a diversified portfolio, which can earn you the maximum returns safely.

It’s easy to mix savings and investments as one! So, to set things straight, the difference between your monthly income and expenses constitute as a part of your savings. Whereas, when you put such surplus amounts into various asset-classes, that’s when you invest.

Not everyone has the risk appetite for the stock market. So, a passive investment strategy combined with good saving habits works well for those who can’t risk it all.

Need a money-saving tip? Here’s one: aim to save at least 20% of your income. It’s a tried and tested principle that experts around the world agree upon. After you’ve managed to save for several months, a gainful next step would be to look for investment opportunities in India that can generate higher returns for you.

Step-by-Step Guide

Fintech is growing fast in India with a promise to improve personal finances for everyone. A variety of investment products are coming into the market every day. Alongside the well-known instruments like mutual funds and bonds, peer-to-peer lending is emerging as a promising option.

Saving is the most basic practice for healthy finances. Before investing big, make sure you have solidified your saving habits.

Here, look into some super simple saving tips:

  • Set Savings Goals

A time-based goal gives you the motivation to save constantly. So set a number that you’ll need to save each month to achieve your financial targets. Common goals can be creating an emergency fund, a home remodeling budget, or your child’s education among other things.

Investment opportunities in India are plenty at the moment. And with a good saving strategy, you can take advantage of new-age lending investments. For instance, the amount you save every month can be invested in FMPP®s, a freshly introduced AI-powered lending system from LenDenClub.

Diversifying your investments across a broad spectrum lowers risks and maximizes returns. While saving is the first priority, investment is right next.

  • Record your Expenses

Recording your expenses gives you an idea of how you spend. By doing it, you can figure out the exact numbers for your monthly recurring expenses. Non-essential spends show themselves by this as well.

Once you have all essentials and non-essentials in view, you can start asking some important questions. Can I lower electric bills? How much did I end up paying in late fines on bills? Will a quarterly subscription on the internet save me something? Did I spend more than necessary on take-outs?

Getting answers to such simple questions gives you a broad picture of your spending habits and helps you understand the unnecessary costs that could go into savings!

  • Find Ways to Cut Spending

Finding ways to cut spending is common sense. However, it can be tricky to do so. There’s no shortage of distractions around, crying for your attention and money.

If possible, work from home a couple of days a week to cut down traveling expenses. Cancel subscriptions that you don’t really need. Is there a scope to use public transport instead of taking a taxi?

You’d be amazed at how much you can save by just cutting some corners around. Let’s say you spend ₹1,000 every Sunday, totalling to ₹4,000 per month or ₹48,000 every year. Now, if you cut down such Sunday spends to every alternative weekend, that saves you ₹24,000 yearly or ₹1,20,000/- over the next five years. To top this, if you lend this money with LenDenClub’s FMPP®, that leaves you richer by close to ₹1,70,000/-* which otherwise was money entirely spent!

  • Include Savings in Your Budget

You need to include saving in your budget ahead of every month’s start. Start low by setting aside 10 percent of your income. Aim to increase that to 20 per cent.

When you create your budget with savings included, you limit overspending. After all, saving is really a habit. But you should not just limit your savings potential at that. If your monthly paychecks can get a raise, so should your monthly savings targets. Bonuses and salary raises are great ways of saving incrementally. After all, such incremental investments can bring you closer to your financial goals in the longer run.

  • Pick the right tools

Where you park your money also matters in ensuring your financial success. Not all saving accounts are the same.

A typical recurring deposit scheme will pay higher interest than a general savings account. But of course, that is nowhere close to what your investments could deliver.

You can choose to use one of the best apps for investment like LenDenClub to earn high and returns on your saved money. LenDenClub’s FMPP®s have the potential to generate up to 10 to 12% p.a.* returns

and that with the compounding effect results in significantly higher yields!

  • Determine financial priorities

Foresee an impending expense in the near future and save for it. If you need to buy a vehicle down the line, then save for it from now.

Remember your long-term goals as well. Financial priorities are best determined with a holistic view. Not all your goals can have the same importance. So, be prudent here.

If you can manage to build good savings, you can invest that in a high-yielding portfolio. Your options are no longer limited to fixed deposits or mutual funds. Lending money through a trusted platform is a good option to consider.

Peer-to-peer lending is an emerging market and it’s time to take advantage of it.

How LenDenClub will impact your savings?

LenDenClub is a growing platform for lenders and borrowers. It uses AI to allocate your money to credit-bureau-verified borrowers. LenDenClub’s lending infrastructure evaluates borrowers’ creditworthiness by taking into consideration over 200 different data points.

Moreover, it uses a hyper-diversified model to minimize risk for money lenders where your invested money is divided across a number of borrowers. Such a division could go to as low as ₹1 per borrower! With more than 20 lakh investors lending through this platform it’s time to join the revolution.

The FixedMaturity Peer-to-Peer Plan or FMPP®, as stated above, delivers up to 10 to 12% per annum* returns. It has an AI-enabled matching system, which leaves very less room for defaults and mitigates risks.


A large part of the Indian population is left out by conventional loan providers like banks and NBFCs. LenDenClub is filling that gap by creating a direct peer-to-peer ecosystem.

There are no middlemen here and allocation is done impartially in a hyper-diversified portfolio. With a rising number in the investment class looking for opportunities to invest other than banks and stocks, such instruments will prove to be a boon.

Saving is the foundational principle to growing your wealth. When you focus on saving you are able to accumulate for investment.

Nowadays, there are many investment options available in India. Unlike a few years ago, when FDs and equities were the popular choices among people, various new-age investment options like P2P lending have emerged. The best part about these investments is that they have the ability to balance the risk and returns, which most investors find hard to achieve.

On top of that, online marketplaces like LenDenClub further simplify the process for investors. Let us see how –

  • A family of more than 2 million people
  • AI-powered Auto investment
  • Allows diversification and reduces risk
  • Screens borrower’s profile through 200+ data points to reduce the risk of default.
  • 100% investors have earned between 10 to 12% p.a. based on returns earned in Sep., Oct., and Nov. 2022.
  • Market-risk free returns
  • Safe and Secure transactions using the ESCROW mechanism.

Hop on the bandwagon with 2 million+ investors. Register now!

*P2P investment is subject to risks. And investment decisions taken by a lender on the basis of this information are at the discretion of the lender, and LenDenClub does not guarantee that the loan amount will be recovered from the borrower.

LenDenClub is India’s largest alternate investment platform which started operations in India in 2015. We have been helping investors diversify their investments beyond traditional investment instruments ever since.



The Reserve Bank of India does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by Innofin Solutions Private Limited, and does not provide any assurance for repayment of the loans lent through its platform.

LenDenClub is an Intermediary under the provisions of the Information Technology Act, 2000 and virtually connects lenders and borrowers through its electronic platform via the website and/or mobile app.

The lending transaction is purely between lenders and borrowers at their own discretion, and LenDenClub does not assure loan fulfilment and/or investment returns. Also, the information provided on the platform is verified or checked on the best efforts basis without guaranteeing any accuracy of the data/information verification. Any investment decision taken by a lender on the basis of this information is at the discretion of the lender, and LenDenClub does not guarantee that the loan amount will be recovered from the borrower, fully or partially. The risk is entirely on the lender. LenDenClub will not be responsible for the full or partial loss of the principal and/or interest of lenders’ investment amounts.


*P2P investment is subject to risks. And investment decisions taken by a lender on the basis of this information are at the discretion of the lender, and LenDenClub does not guarantee that the loan amount will be recovered from the borrower.

** Average value mentioned is the weighted average of returns received by investors

© 2023 LenDenClub by Innofin Solutions Private Limited | CIN: U74999MH2015PTC266499


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