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How Do You Save When on a Tight Budget?

How Do You Save When on a Tight Budget?

How Do You Save When on a Tight Budget?

Your finances are poor when you are in debt. You need to repay your creditors on time, failing which your penalty and loan charges will keep increasing. That is the reason why you need to save money every month. Yes, you start looking for other ways to put aside cash for the rough days ahead. If you have not started saving yet, it is time that you do so now.

In some situations, you need to prioritize your savings before repaying your creditors. When you have budget constraints and barely meeting the necessities of life, it becomes difficult for you to save regularly. Then, you need to work hard and find ways to make more money and save for the future. You can take up a part-time job or offer tuitions to kids to make extra money. It will help you save additional funds, as you need to prepare for any emergencies in the days to come.

According to an article published on Huffingtonpost.com.au, often the way we spend daily plays a significant role in lack of savings. There is no doubt about the same. If you do not have the need to buy another smartphone, why buy it and reduce your bank balance? These are unnecessary or impulse purchases. Therefore, it is extremely important to make savings your top priority. Here are some smart ways to save cash when you have budget constraints:

Prepare home-cooked meals

Change your eating habits if you want to save on a limited budget. It will not only keep you in shape but also help you put aside more cash for the future. Buy fresh vegetables and lean meat. Cook at home and enjoy delicious meals without spending heavily on restaurant food. Stop eating out at multi-cuisine outlets, pizza stores, and burger joints. These foods are not only costly but also unhealthy.

If you are working and eat outside food daily, stop doing so. Carry your lunch to the office. This way, you can save $50 every day, if not more from Monday to Friday.

The food bill will shoot high up if you are eating out at reputed food chains. Eat out rarely to save hundreds of dollars by avoiding restaurant and convenience food. Once you return home, cook your dinner. Make a simple dinner such as pasta and some salad that is effortless to prepare after a day’s work.

Cut back on your television bill

When you have subscribed to some television service, there are ways to cut back on the bill. If you do not get the time to watch TV at all, simply cancel the subscription. Even if you watch, subscribe to the channels you watch and cancel the rest.  For example, if you are fond of Netflix and HBO, then opt for the same and cancel the others. This way, if you save even $100, it is considerable savings at the end of the year.

You can also use the combined services like Hulu or Netflix that will cost you not more than $16 per month. The money you save put it aside in your bank account. You can save the cash and use it to pay off a small loan from lenders like libertylending.com.

Save on each category

When you have budget constraints, you need to cut back on additional expenses to make both ends meet. Try to save on each category. A frugal budget will not include cable TV charges, club memberships, and gymnasium fees, eating out, and watching movies in theaters. It means you need to continue this saving habit every month.

The best way is saving $15 to $20 for every category in your monthly budget. Put aside that cash in your savings account or an emergency cash box. If you plan your grocery purchase, you can save at least $5 per week at your local store by canceling one item from the list. These little things matter and will help you save when you are in financial trouble.

You can also save on car fuel every month. Reduce the amount you spend on gas each month. If you can avail public transport, stop taking your car to the office until you repay your debts. Further, you can reduce your heating and cooling expenses by adjusting the thermostat.
Make the most out of online deals

It is not easy to stay on budget if you feel that there is no amusement or entertainment in your life anymore. You can save money on things like budget shopping. Make the most out of online deals or discounts on shopping sites like Amazon, Groupon, or Living Social. For example, if you need to buy some clothes, purchase the items that you need immediately and stop buying when you have the requirement met.

When it comes to online shopping, be it buying garments, or a dinner for a couple, there are tons of great deals and offers that you can avail without breaking your bank. Ensure that you do avoid overspending more than you need now.

Avoid big purchases 

Keep track of your total budget. If you are planning to buy a car, postpone the decision, as the payment is too high. Are you living in a sprawling house? If yes, rent a few rooms out. It will add to your additional income and savings every month. Avoid blowing away the money that you save as rent. Keep that aside for emergencies in the future.

Again, if you are planning a vacation abroad, delay the same. These are big expenses. Postpone them until you dig out of your debts. You can always buy a car or travel later when your finances improve. These little steps will help you save on a tight budget and you will save a good amount every month. There is no doubt about the same.


Keep your expenses lower to maintain your monthly budget. You need some discipline in your life when you have a dearth of funds. The hardships will not last long if you use the saved money to pay off your loans on time. Once you are debt-free, you can spend on entertainment.

About Author
Isabella Rossellini is a marketing and communication expert. She also serves as content
developer with many years of experience. She has previously covered an extensive range of
topics in her posts, including business and start-ups.


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