Learn Various Ways to Save Money in Pakistan (2024)

How to save money in Pakistan

A common question people ask is How to Save Money in Pakistan when there is just so much that is going on around here. People often say there is nothing you can do in the name of savings in Pakistan because of high inflation in the country there is almost nothing that a common man can do in the name of savings.

Well, we are aware that the situation is not good and Pakistan is facing its worst economic crisis at the moment but still you can do the savings by changing your living style. Thus, it is never too late to change a little to save some money for your future. Wise people are the ones who make out their way by themselves without making lame excuses.

If you are still unsure how you can save your money then there are various ways you can have the guidance you need. You can visit any bank to inquire about their savings accounts or even you can find any insurance company to learn about their savings policies. If you are not sure where to go then you can reach us anytime.

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Need to save money

Almost every person in the present-day world is facing financial issues except the ones who belong to the superelite class. In this situation saving money is a huge challenge. What you can do is learn those little things that can help you save money easily. Though they may seem insignificant these little things can save thousands of rupees each year.

So, instead of being reluctant and thinking of your little expenses as your guilty pleasure suppress your desires and save your money. You may never know this little money you save today can be of great help later. You know what according to the world’s richest man Elon Musk he suppresses his desire of spending money on morning coffee and saves the money just to spend it to buy Twitter.

Now, you may be thinking why does he have to do such a thing when he is the wealthiest man alive on the earth. Well, the point is not this, the point is although he is super-wealthy still he knows the importance of savings.

Learn Various Ways to Save Money in Pakistan (1)

So, what is preventing you to do the same? Especially if you are a Pakistani then you should know how unstable the economy of this country is. You never know what is coming your way in the future. So, you need to make sure that you are choosing the right way and you are on right track to save a little for your bad days.

We are a third-party organization that helps commoners like you in having the insurance policies or provides you the information about bank accounts or policies through which you can make savings and have various benefits.

Saving accounts

Various banks in Pakistan offers multiple kinds of savings account that not only help you in making the savings but also you can have the interest on the amount you have in your saving account. People, in general, are not aware of the fact that these savings accounts also provide you with many other benefits.

For instance, you can get various discounts on various brands. For instance, if you have a platinum card then you can enjoy multiple benefits and discounts at various brands. Hbl Platinum Credit Card Discounts are at the top of the list among other credit cardholders. So, not just the account but also the card type can also help you in having the savings and other benefits that you want from your bank.

So, the selection of the right bank is the key to having the benefits that you want if you open up a savings account. This is something for which you need to do your research thoroughly.

You must know the significance of savings to make sure that you do it right. Apart from the bank account or taking an insurance policy, there are various ways through which you can save your money. For instance, if you want to bound your money and enjoy the profit you can invest it in someone’s business or you can purchase the shares. Thus, all you need to do is think critically then various paths would unwind before you. In case you want any kind of guidance feels free to reach us anytime.

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Learn Various Ways to Save Money in Pakistan (2024)

FAQs

What is the average savings in Pakistan? ›

While the figure for average monthly savings in Pakistan is PKR 4814, the minimum monthly amount saved in the country is negative PKR 316,110, with the maximum amount being PKR 15,05,404 (while calculating savings inequality, remittances were excluded) —an extremely high degree of variation.

How much money required to live in Pakistan? ›

In Pakistan, the anticipated monthly expenses for a family of four, excluding rent, amount to around $980 (equivalent to 280590.46 Pakistani Rupees). For an individual living alone, the estimated monthly costs are approximately $300.0 (equivalent to 85895.04 Pakistani Rupees).

Is 10000 rupees alot in Pakistan? ›

In Pakistan, 10k is not a huge amount but still, you can utilize this amount in different ways such as you can do shopping, eating, and tourism. It also important that who got this amount either this amount is in the hand of a common man or it is in the hands of a rich person.

What is the safest investment with the highest return in Pakistan? ›

Real Estate Investment

Real estate is the most favored and traditional way of investment. The majority of people in Pakistan prefer to invest in the real estate market if they have enough amount of money to invest in property. Investment in this domain typically gives attractive and stable returns.

What is the 50/30/20 rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

What is the 30 day rule? ›

The premise of the 30-day savings rule is straightforward: When faced with the temptation of an impulse purchase, wait 30 days before committing to the buy. During this time, take the opportunity to evaluate the necessity and impact of the purchase on your overall financial goals.

How to save $5000 in 3 months? ›

How to Save $5000 in 3 Months [2024]
  1. Create a Budget and Plan.
  2. Pick up a Side Hustle.
  3. Sell Things Around Your Home.
  4. Refinance Debts.
  5. Cut Unnecessary Expenses.
  6. Reduce Living Expenses.
  7. Try an Envelope Savings Challenge.
  8. Use Cash Back Apps.
Apr 3, 2024

How much money is safe in Pakistan Bank? ›

The 500,000 PKR Limit: The recent statement from SBP Deputy Governor Inayat Hussain emphasizes that depositors in Pakistan are legally protected up to 500,000 PKR.

How many rupees does the average Pakistani make? ›

The average salary in Pakistan is 81,800 PKR (Pakistani Rupee) per month, or around USD 287 according to the exchange rates in May 2023. The Pakistan average is significantly lower than the US average (USD 7,900) but comparable to India (USD 430), Ukraine (USD 858), and the Philippines (USD 884).

How much money do you need to retire in Pakistan? ›

The cost of retirement around the world mapped: From settling down affordably in Pakistan, Egypt and Algeria for $225,000 to expensive Singapore where $1 million is required. A study has revealed how much money a pensioner needs to retire across the world, with Pakistan ranking first at $158,410.

Which is the cheapest city to live in Pakistan? ›

According to a list issued by global cost of living database for 2023, Numbeo, the cost of living, prices of daily use items, rates at restaurants, and rents in Pakistan are the cheapest in the world. Moreover, the database has declared Rawalpindi as the cheapest city in Pakistan, followed by Karachi and Lahore.

How much is a house in Pakistan? ›

In major cities like Karachi, Lahore, and Islamabad, the average cost of a house in a decent residential area can range from PKR 10 million to PKR 50 million or even more for larger and luxurious houses.

What is the best income in Pakistan? ›

10 highest paying jobs & professions in Pakistan
  1. Chartered Accountants. ...
  2. IT professionals. ...
  3. Physicians and surgeons. ...
  4. Judges. ...
  5. Lawyers. ...
  6. Bank Managers. ...
  7. Chief Executive Officers (CEOs) ...
  8. Cyber Security Managers.
Oct 21, 2023

What is the best investment in Pakistan? ›

  • Stock Market: Investing in the Pakistan Stock Exchange (PSX) can be a good way to grow your money. ...
  • Mutual Funds: Mutual funds are professionally managed portfolios of stocks, bonds, or other securities. ...
  • Real Estate: Investing in real estate can also be a good way to grow your money.
Oct 28, 2023

How can I save money to buy a house in Pakistan? ›

Divide your Monthly Income

In any case, since you want to save money for a house, you must follow the 50/30/20 rule of budgeting. For instance, your monthly income is 1 lac rupees. Spend fifty percent on your actual needs, thirty percent on the things you want, and the remaining twenty percent goes into your savings.

How can you spend less money in Pakistan? ›

5 Effective Ways to Save Money While Living in Pakistan
  • Set Goals for Savings. ...
  • Get Rid of Debts. ...
  • Save Something Everyday. ...
  • Sell Liabilities where possible. ...
  • Do everything in a budget. ...
  • Keep Aside your Savings. ...
  • Be Financially Prepared for Emergencies (Build emergency funds) ...
  • Minimize your Spending on Luxuries.
Aug 16, 2021

What is the best saving account in Pakistan? ›

Average Bank Profit Rates in Pakistan
BankTickerProfit Rate (%)
Faysal Bank Ltd.FABL13.51
Bank Alfalah Ltd.BAFL9.75
Bank AL-Habib Ltd.BAHL6.70
Habib Metropolitan Bank Ltd.HMB7.35
15 more rows

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