Let me tell you something I never thought I’d say at 50:
I finally saved my first ₹1 lakh.
Not inherited. Not gifted. Not borrowed.
Saved. Slowly. Consciously. Painfully. Proudly.
I know ₹1 lakh might not sound like much in today’s world. But when you’ve spent a lifetime paycheck to paycheck, dipping into credit cards, ignoring budgets, and convincing yourself that “money will take care of itself,” ₹1 lakh saved is not just a number.
It’s a transformation.
This is how I did it — and how you can do it too, step by step.
Step 1: First, I Got Real With Myself
The turning point wasn’t some finance seminar or app. It was a moment.
I looked at my bank balance, saw ₹472 left for the month, and realized I’d earned (and blown) over ₹25 lakhs in the past few years with nothing to show for it.
No investments. No savings. Just regrets.
So I told myself:
“I don’t want to die broke.”
That may sound dramatic, but if you’re reading this — maybe you feel it too.
Step 2: I Started Tracking Every Rupee
Not budgeting. Tracking. There’s a difference.
I started writing down every expense. Coffee. Auto fare. Late-night online shopping.
I did it with pen and paper at first. Then I moved to a free app.
I didn’t cut anything immediately. I just tracked. And you know what I learned?
“You can’t fix what you don’t measure.”
Seeing my spending in front of me was like getting a mirror held up. Ugly, but freeing.
Step 3: I Identified My Money Leaks
Tracking helped me spot three big leaks:
- Food delivery: ₹4,500/month
- Streaming + subscriptions I didn’t use: ₹1,600/month
- Impulsive Amazon buys: ₹3,000/month
That’s nearly ₹10,000 a month.
Without giving up life — just tightening the ship — I redirected this into a savings account.
Step 4: I Created a Separate Account Called “MyFirstLakh”
Yes, I literally named my bank account “MyFirstLakh.”
It made the goal tangible. Every ₹500, every ₹1000 I transferred felt like a brick in the house I was building.
I didn’t touch that account. It was sacred.
Saving works better when your money has a job and a name.
Step 5: I Automized My Savings
Instead of waiting to “see what’s left at the end of the month” (spoiler: nothing ever is), I set up an auto-transfer of ₹3,000 to my MyFirstLakh account on the 3rd of every month.
Eventually, I increased it to ₹5,000.
Some months were tough. I had to pause once or twice. But the automation kept me consistent more than motivation ever could.
Step 6: I Made It a Game
I started playing games with myself:
- Can I save ₹100 a day this week?
- Can I cook all meals for 10 days straight?
- Can I go a month without ordering anything from Amazon?
When I won, the reward wasn’t pizza or shopping — it was transferring that “win” into my savings.
Step 7: I Celebrated Milestones (Not with Spending!)
- ₹10,000 saved? I wrote myself a note.
- ₹25,000 saved? I bought a used book on investing.
- ₹50,000 saved? I printed a screenshot of my passbook balance and taped it on my fridge.
These little celebrations gave me the motivation to keep going — without derailing my goals.
How Long Did It Take Me?
It took me 10 months.
Could I have done it faster? Maybe.
But I wasn’t just saving money — I was rebuilding a relationship with money.
And trust me, that takes time.
My Top Tips to Save Your First ₹1 Lakh
- Track. Every. Rupee. Awareness is half the battle.
- Separate your savings. Out of sight, out of spend.
- Automate it. Don’t rely on willpower.
- Cut leaks, not life. You don’t have to deprive yourself, just be intentional.
- Celebrate the journey. Even ₹5,000 is progress.
What Happens After ₹1 Lakh?
Now, I’ve moved on to building my first ₹5 lakhs.
I’m learning about SIPs, mutual funds, and investing for goals (more on that on the blog!).
But that first lakh? That changed everything. Because it proved I could do it.
If I can — someone who mismanaged money for decades — so can you.
Let’s Do This Together
If you’re trying to save your first ₹1 lakh, you’re not late. You’re just getting started.
Bookmark this. Track your progress. Reach out. We’re in this together.
And when you hit that first lakh, don’t forget to smile at your bank balance.
It’s more than money.
It’s momentum.
