How to Save Money on a Tight Budget?

[Shaffy]

The cost of electricity and fuel are already too high. This means that if a person tries to save electricity, then they would still not be able to save a huge amount of money. Almost all the people in here use appliances all the time.

One can switch off appliances when you're not home. There are some areas where you don't need lights all the time, you can switch off any devices you are not using. I say so because I know most people around me consume way more than necessary.

 

[frederick_9]

1. Make a list before you grocery shop. ...
2. Consider a side hustle. ...
3. Save any cash you're gifted. ...
4. Re-evaluate recurring expenses. ...
5. Pay attention to your credit cards. ...
6. Use a rewards credit card. ...
7. Reassess your bills. ...

 

[Busybee]

When you are on a tight budget, try to reduce unwanted expenses and try to increase your source of income. We all have only 24 hours a day but spending those hours wisely can in itself get us out of a tight budget. Take out the money you want to save and consider it as an expense. In this way, after a while you would have saved enough money which can be invested in debt funds or bonds to get generate regular income. One fine day, you would have left behind the tight budget scenario.

 

[Good-Person]

One can switch off appliances when you're not home. There are some areas where you don't need lights all the time, you can switch off any devices you are not using. I say so because I know most people around me consume way more than necessary.

There are many people who follow this strategy as well. They tend to switch off the appliances at night before they go to bed and this is how they save money.

 

[glitch]

One thing I noticed helped is switching to LED bulbs as well as buying a new washer. I had no idea the washer I was using was wasting so much water. I save around $50 a month just on those two things alone.

 

[Good-Person]

One thing I noticed helped is switching to LED bulbs as well as buying a new washer. I had no idea the washer I was using was wasting so much water. I save around $50 a month just on those two things alone.

If you really want to save money, then you must focus more on limiting the usage of appliances like refrigerator, iron press, air conditioners, etc. These appliances consume more electricity.

 

[Genie011]

Saving is am important thing to do in order to make your financial life a successful one.
The truth is, it is not as easy as it sounds.
It requires consistency and discipline to do that

 

[Syldan]

Actually sometimes we engaged ourselves into some sort of things that can lead to an unnecessary spending of you income. always try to set a target and worked towards achieving such targets.

 

[Good-Person]

Saving is am important thing to do in order to make your financial life a successful one.
The truth is, it is not as easy as it sounds.
It requires consistency and discipline to do that

You need discipline and willpower. However, the amount of money you make each month is also a very important factor as well. The more money you have, the more it would be possible to save.

 

[Genie011]

You need discipline and willpower. However, the amount of money you make each month is also a very important factor as well. The more money you have, the more it would be possible to save.

You are right and the opposite is true too.
But it is good to make plans that would help you thrive out of your financial constraints.
Once the plan is backed up with action the rest is history.

 

[Good-Person]

You are right and the opposite is true too.
But it is good to make plans that would help you thrive out of your financial constraints.
Once the plan is backed up with action the rest is history.

The best way to deal with this issue is to analyse how much money you can make in a day and explore other ways to increase your income to some extent. After that, you could potentially save money.

 

[eenya001]

Purchasing limited amount of products is a great way to save money. You can save money by analysing the total consumption of items that you use daily and buy things accordingly.

This is the point that usually mess up someone finance by not knowing what is the difference between your needs and wants, as cutting down costs on your needs would save you a lot of money

Electricity costs don't rise as fast as that of other commodities. If you happen to use a prepaid meter, it makes a lot of difference if you can control how you use your appliances. I have cut costs by more than 50% by just using what I need and leaving the others off.

In some cases electricity can consume a lot of your budget that is if you stay in a place where it is post paid as the electricity holders usually beings exorbitant bills to us sometimes

 

[Syldan]

The only way to save you money is to plan on things that are most needed and try to abide by your set budget.

Distinguish between things or demand that are very important and those that are less for just for fun.

 

[Good-Person]

The only way to save you money is to plan on things that are most needed and try to abide by your set budget.

Distinguish between things or demand that are very important and those that are less for just for fun.

You must sacrifice many things if you want to save money. This is the only thing that you could do. Avoid eating expensive foods and avoid spending foods on unnecessary items as well.

 

[Danny4cash]

It's good to learn how to save money with tight budget, especially now that the cost of living is very high. But there's really no best way to save money with tight budget. The only solution to it is to increase your income.

 

[Honny143]

Every middle class family's problem is saving money on a tight budget. In my opinion, current inflation increased everywhere, but if we have proper planning, then we can save some money in the month ending. One tip is to stop going to malls to purchase a few items because malls attract people to purchase unnecessary items instead of purchase those necessary items in small shops. In this way, we can save some money.

 

[Good-Person]

It's good to learn how to save money with tight budget, especially now that the cost of living is very high. But there's really no best way to save money with tight budget. The only solution to it is to increase your income.

I think that a person's desire to save money depends entirely on willpower. If a person has a lots of willpower, then he could save money. People must think how saving money could make their lives much comfortable in the future.

 

[Danny4cash]

I think that a person's desire to save money depends entirely on willpower. If a person has a lots of willpower, then he could save money. People must think how saving money could make their lives much comfortable in the future.

You may be right. But if your income is not much, how do you want to save? I'm not undermine the usefulness of saving. But you can only save when you're making enough money.

I think that a person's desire to save money depends entirely on willpower. If a person has a lots of willpower, then he could save money. People must think how saving money could make their lives much comfortable in the future.

You may be right. But if your income is not much, how do you want to save? I'm not undermine the usefulness of saving. But you can only save when you're making enough money

 

[Georgeadawara1]

You should always ensure that you are buying your things from the most important to the ones that are least important so that you might end up striking some along the way.

Yes you're absolutely right by saying this, in order to determine and lessen how much you spend been it on a daily basis or weekly basis, and one should apply the law of demand and supply theory.

 

[eenya001]

You must sacrifice many things if you want to save money. This is the only thing that you could do. Avoid eating expensive foods and avoid spending foods on unnecessary items as well.

You should think of making more money to supplement your income level and not necessarily cutting down your cost which might prove very fatal to you except you have no other option