Spending money can happen both quickly and easily when trying to save.
If you already aren’t making a lot, there are some ways to still save money.
By working hard and remaining disciplined, you could reach your goal and save some money while still living off a low income.
Here are 10 ways to help save cash when you don’t make a lot of money
First, set your goal.
This means how much you’d like to save in how long.
This can help because you’ll reach that goal by a certain date.
This will motivate you.
Related: 11 major changes for money happening in 2022; Social Security, Medicare, and student loans all impacted
Set a budget, now that you know what you want to save.
You need to know the amount of money you make as well as what you need to spend.
Keep close track of how much everything is like groceries, rent, and any other expense.
By outlining what you spend, you may see that you can cut some things out.
If it’s possible and you really want to save a lot of money quickly, you may consider living with parents or a relative.
Related: Here are 5 moves to make with money this December
This situation could be temporary while you work to save up your own rainy day fund.
You could also get a roommate, or negotiate your lease if that’s at all possible.
Cook your own food.
Preparing your meals or planning them, then structuring a shopping list with coupons could save you a lot of money.
This goes hand-in-hand with not eating out to save money.
Related: One city is giving out $500 in stimulus funds every month for one year
By making your own coffee to bring with you or packing your own lunches, you can save a lot of money in just one day.
Sell stuff you no longer need or use.
Sites like Depop, Poshmark, and eBay are great to unload clothes or items you haven’t used in years.
Consider cancelling subscriptions you no longer use.
If you have multiple streaming services but realize you only use a few, you could temporarily cancel the ones you rarely use to pocket the money that month.
Related: Social Security COLA increase: Seniors say stimulus needed as grocery store, home heating costs skyrocket
You can list out your absolute necessities, then ban yourself from spending any additional money besides that.
This also helps you to be mindful when spending money over time.
Finding a side job could add money to your bank account.
You can also choose to have a percentage of your check moved into a savings account automatically.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected]