It seems like it would be almost impossible to save money on a tight budget. I mean, is there anything left to save? You’re struggling from paycheck to paycheck as it is. Or maybe you don’t have a job at the moment and you need to survive until you get one. Surprisingly, there are always more ways to save money.
You just need to never give up hope and think of your current financial situation as a momentary setback. I’ll show you some simple ways to save money on a tight budget so you can focus more on finding out how to boost your earnings.
Put some money aside before spending
Regardless if a percentage of your paycheck automatically goes to a savings account or you keep your savings in a jar, when you get money you need to put some aside first. Only then you can consider spending. And we have more tips that will help you do it.
Renegotiate rates and fees
I know it can be difficult to believe but renegotiating rates and fees is an excellent solution for saving money. It works with credit cards, utility bills and almost any other service for which you pay regularly. Even if you’re shy and get nervous just by thinking about it keep in mind that never asking for anything will never solve your financial problems.
Unplug unused electronics
I don’t know if you realized this already but all electronics consume some power even if they’re turned off, as long as they’re still plugged in. Always make sure you unplug unused electronics and if you buy some outlets with on-off switches you can just push a button instead. You’ll thank me the next time you get the electricity bill.
Make a shopping list
It’s so easy to get carried away when shopping. You may even end up buying things you don’t actually need and forget to purchase the ones you do! The practical way of ensuring your shopping sessions remain on point but still budget friendly is to plan ahead and make a list. Also, while in the store, try to find the best deals.
Balance your checkbook
It sounds so boring, right? Maybe, but it will help you find out how much money you have left. Sure, there are also plenty of finance apps that can help you track your finances but not all of them get updated frequently enough. Regardless, balancing your checkbook is the safest way of preventing overdraft fees.
Stick to using cash not the card
There’s something about shopping with a card that makes spending money so easy. I mean you don’t see the actual money….they’re just some digital figures. If you’re always spending more than planned, it’s best to pay with cash – when you need to part ways with those dollar bills it’s going to hurt way more than if you were waving around that small piece of plastic.
Don’t turn down stuff friends stopped using
We all have at least one friend who keeps buying stuff they never end up using or dislike for petty reasons. If they plan on throwing it away or donating it, and you think you’d have a use for it then just ask. Most likely they will be happy to help a friend rather than throw all that stuff or give it to someone they don’t know.
Prep your lunch
If you don’t pack your lunch, you probably spend a lot of money to eat during your lunch break. OK, so one day is not that big of a deal but 5 days a week, four weeks a month, that’s 20 lunches you’re buying instead of making. If you feel like packing your lunch every day is too much, try doing it for 3 days week and see how that goes. I’m sure you’ll love the savings!
Invest in a programmable thermostat
This is not much of an investment – you can get a decent programmable thermostat for less than $50. Having one can reduce your energy bills by up to 15% so you won’t even feel that money coming out of your pocket. A few months later, you’ll be glad you made the decision.