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Are you looking for tips on how to save money on a tight budget? If so, then you have come to the right place!
When it comes to saving money on a tight budget, getting started is usually the tricky part. But once you make your first save things start to get easier. And I speak from experience. The art of saving gets easier with time. Prioritize your needs and cut down on your wants and you are ready to go.
If you’re tired of living from paycheck to paycheck or are struggling to make ends meet every month no matter what you try, then help is on hand. With these tips on saving money on a tight budget, you’ll be well on your way to becoming a savvy savings pro!
Set Some Goals
I believe that one of the best ways to make sure that you save the money that you are hoping to save is set yourself some goals. The main way that having goals helps you is that it gives you the inspiration to save. You will know where you want to get to, how much you want to save and even have a reason for saving. All of these things can prove really helpful when you want to be able to put money away.
You might have a variety of reasons why you want to save. It could be that you want to save for an emergency fund, a big holiday or perhaps world travels. You may also save for a birthday, a party or an outfit that you want.
It doesn’t always have to be something big and extravagant, but having in mind the end goal is a sure fire way to help you keep on plowing through, even when saving can seem like a bit of a headache.
Draft A Monthly Budget
An important part of saving money on a tight budget is taking the time to sit down and write a budget. It can be a weekly budget or a monthly budget. The important thing is that you come up with a budget system that works best for you. I typically plan out budgets for a whole month because that’s what works best for me. It’s great because I don’t have to stress about paying our bills late or rushing to the grocery store for supplies every second day and risk buying something on impulse.
Lose The Cable
It will surprise you just how much money you can save by cutting your cable subscription! Cable prices just keep going up when in fact they should be going done due to the fierce competition coming from the likes of Amazon Prime. It’s insane!
You may not realize it, but one of the most expensive household bills that you are likely to pay out is for cable TV.
Now, I know that this may seem like something that you can’t live without, particularly if you spend a lot of time at home. However, canceling your cable subscription is an excellent way to cut some costs, and you may be surprised by just how much you can save.
When you cancel your cable, it doesn’t mean that you are destined to a life of rubbish TV. In fact, there are many alternatives that you can choose from. These come in the form of streaming platforms, which allow you to watch plenty of TV shows and movies. Affordable streaming platforms include Amazon, Netflix and Now TV. Don’t forget that plenty of channels also have a free catch up service, where you can watch the recent TV shows that they have shown.
Workout For Cheap
In my less savvy days, I would pay about $74 in gym membership fees per month. Yes, I still can’t believe it to this day. I canceled my gym membership almost three years ago now and saved tons of money. Working out and staying fit doesn’t have to cost you thousands of hard earned dollars every year. There are ways to exercise for way less money and they include jogging, taking long walks or working out at home using your own workout equipment.
Set up a gym at home for very little money. An awesome way to stay fit and save money on a tight budget. The equipment is yours, and you don’t have to pay for a gym membership.
Cut Out Or Cut Down On Restaurant Visits
Eating out at restaurants falls under the “wants” category. It is a luxury plain and simple. Instead of eating out consider “dining in.” I introduced “make your pizza nights” in our home where we all get to make our pizzas using a selection of fresh, healthy ingredients.
What I normally do to prep for pizza baking sessions is I chop up a variety of vegetables such mushrooms, onions, tomatoes, bell peppers, garlic, etc. And for some protein, I lay out some pepperoni, harm and of course mozzarella cheese.
I prepare the pizza dough from scratch and divide it into four, so everyone gets some dough for their pizza. The kids enjoy designing their pizzas (and so do we) and brag about what excellent chefs they are.
The preparation does take some time, but it’s all worth it. My family and I get to have tons of fun making our pizza creations, and we save money at the same time.
Another great “dine in” idea would be to serve home-made fish and chips à la restaurant style. You can serve the fish and chips dinner in these stunning little baskets just like they do at seafood restaurants. Just line them with brown parchment paper liners. Kids will love it!
Cook In Bulk
Cooking in big batches and then freezing the food is yet another great way to save money on a tight budget. You could, for example, make large portions of bolognese sauce and bulk it up with healthy inexpensive ingredients and a lot of tomatoes sauce.
Use A Crock-pot To Save Money On A Tight Budget
Get a crock-pot and prepare some crock-pot meals for up to a month. You save both time and money in the long run. Having a slow cooker will help you save money in a lot of ways. You don’t have to spend a lot of money on expensive cuts of meat. A slow cooker can quickly transform any rough cut into delicious soft meat for way less money.
Another thing you will love about owning a crock-pot is that you can stock up on legumes and make great protein rich, wholesome vegetarian meals for cheap. Whip up a Mexican bean stew for some delicious bean enchiladas, an excellent source of vegetable-based protein. Bean enchiladas are a hit in my home. My family will usually enthusiastically polish off their dinner.
Shop Cheap At The Grocery Store
Another way to save money on a tight budget is to try and find bargains at the grocery store. Be on the look out for sales and check if the grocery stores you shop at have coupon codes that you can take advantage of. Compare the prices of the products you want and pick the cheapest option. The store’s brands are usually less expensive than the other brands, and to be honest, there isn’t much of a difference when it comes to quality or taste.
Save Money On A Tight Budget By Planning Your Meals
Meal planning has been a lifesaver! With a meal planner, I don’t have to worry about what we’ll be having for dinner for weeks. I’ve been planning our meals four weeks in advance for a while now. It’s a habit that pays off as I don’t have to rush to the grocery store every second day to stock up on ingredients.
Have A Meat Free May
Your food shopping is likely to be something that costs you plenty of money on a regular basis. Some meat products cost more than others. Red meat, in particular, can be pretty expensive. And we all know that red meat isn’t always the best thing for us to eat. So reducing the amount we consume could greatly benefit our health (and our wallets).
These are all great reasons why you should try a meat free month. It doesn’t have to be for a whole month, and it doesn’t have to be May; any time will do. Try it out for a while and see if it works for you and your family. Just set out a goal that you and your family will be abstaining from red meat for anything from 1 to 2 weeks.
Not only will you save money and feel a lot healthier, but you will also find that you have tried out a variety of different foods that you might not have otherwise sampled.
Shop At Thrift Stores To Save Money On A Tight Budget
And finally, shop at thrift stores. It’s one of the best ways to save money on a tight budget if you want to do some shopping for your home or wardrobe. Thrift stores are like little treasure troves full of beautiful things waiting to be discovered.
Thrift stores also have discounts that you should make sure to be on the look out.