How to Save Money on a Tight Budget?

[eenya001]

I agree with you, the inflation punishes those that saves and if you are not good at investing, it would drastically affect your finances because of the devaluation .

Inflation is really very high currently and most people that did investment like fixed are actually regretting their actions as the value of their investment have drastically reduced in value

 

[Shahid987]

Here are a few ways to save money on a tight budget
Make a budget
Knowing where your money is going is the first step to being able to save. Track your expenses for at least a month to get a sense of your spending habits, and then create a budget that prioritizes your essential expenses and reduces or eliminates non-essential spending.
Cut back on unnecessary expense
Look for areas where you can reduce spending, such as cutting out subscriptions or memberships you don't use, reducing the amount you spend on entertainment, or cutting back on dining out.
Shop around for deals
When you do need to make a purchase, shop around for the best deal. Compare prices online and in-store, and take advantage of sales and discounts.
Cook at home
Eating out or ordering in can be a big expense. Cooking at home is generally much cheaper, and it's also a great way to eat healthier.
Make extra income
If you're on a tight budget, every extra dollar helps. Consider taking on a part-time job or freelancing gig to bring in some extra cash.
Avoid impulse buying
Impulse buying is one of the biggest ways people overspend. Try to avoid buying things on a whim, and make a list of what you need before you go shopping.
Try to pay off your debt as soon as possible
The interest on loans and credit cards can add up quickly, making it harder to save money. Try to pay off your debt as soon as possible to free up money for saving.
Live below your means
Try to make do with what you have and avoid buying things you don’t need.

 

[Agbalagbaa]

Inflation is really very high currently and most people that did investment like fixed are actually regretting their actions as the value of their investment have drastically reduced in value

Investments are of different categories and if you are talking about stocks, comodities and crypto I would agree with you, there are people that invested into some foreign currencies and are making huge profits.

 

[Good-Person]

Things have become really tough nowadays. It's hard to even manage your income to sustain you, let alone save out of it. But with proper planning and management it is possible. You will be able to save no matter how small.

Inflation is the main reason why so many people are struggling so much. Inflation is now uncontrollable and I think that we might experience the situation like 2008 world crisis once again.

 

[Agbalagbaa]

Inflation is the main reason why so many people are struggling so much. Inflation is now uncontrollable and I think that we might experience the situation like 2008 world crisis once again.

We are actually of the same opinion, the global pandemic could definitely be the major underlying reason for what we are experiencing today. And if you are not financially knowledgeable to make wise Investments you might fall victim eventually.

 

[eLdavis]

Its all about management and discipline. Reduce on your spending and set a budget for yourself. Make sure you remove your savings first before spending on it. Then have a fixed amount for your savings.

 

[Good-Person]

Inflation is really very high currently and most people that did investment like fixed are actually regretting their actions as the value of their investment have drastically reduced in value

Since inflation is so high, many people are quite prudently investing money into assets that could prove to be profitable. Real estate business is one of the most profitable markets right now.

 

[Abigael]

I agree with the idea of cutting down your expenses when you are on a tight budget. Eliminate those that you can and reduce those that cannot be eliminated. Do this with self discipline so as to succeed.

 

[Danny4cash]

Things have become really tough nowadays. It's hard to even manage your income to sustain you, let alone save out of it. But with proper planning and management it is possible. You will be able to save no matter how small.

Yes, though it's not easy to save these days due to high cost of living, it's still possible to save with proper planning and good financial habit. Saving money is a skill that everybody who wish to succeed in business must have.

 

[Chibson]

Things have become really tough nowadays. It's hard to even manage your income to sustain you, let alone save out of it. But with proper planning and management it is possible. You will be able to save no matter how small.

Yeah, it is always very important for you to be very disciplined in terms of your finances if you want to manage it well presently. Proper planning and discipline are the major things

 

[eenya001]

Yeah, it is always very important for you to be very disciplined in terms of your finances if you want to manage it well presently. Proper planning and discipline are the major things

Discipline is what can save you during the raining days when it comes to saving on a tight budget, as this would enable you to meet up whatever plans or criteria you have set up for yourself

 

[Chibson]

Discipline is what can save you during the raining days when it comes to saving on a tight budget, as this would enable you to meet up whatever plans or criteria you have set up for yourself

Probably, people who are very much disciplined in terms of their finances will always escape a lot of problems. even someone who is going into a business, the person needs a lot of financial discipline to succeed.

 

[Abigael]

Discipline is what can save you during the raining days when it comes to saving on a tight budget, as this would enable you to meet up whatever plans or criteria you have set up for yourself

That is right. When you are on a tight budget, saving will save you a lot. Since you might not afford everything you want fast, you can choose to save for some things. That way, you will still be on budget and able to afford things you need.

 

[Planbizzle]

If your budget’s been a bit more strained than usual in the last few months, you’re not alone. High inflation, lagging wage growth and the potential of a looming recession are some of the reasons why saving money might be getting more difficult.

Some expenses are almost impossible to eliminate. But that doesn’t mean you can’t reduce them. In particular, lowering your recurring expenses can be a big help because it will give you savings every month, not just one time.

But some changes in your lifestyle can help you a lot:

• Turning lights off when you’re not using them.
• Cutting the cord on cable and opting for cheaper streaming services. Streaming services often have shared or family plans that you can split between multiple people to lower the cost even more.
• Withholding from impulse purchases. One way to help do this is by writing down wants and waiting a week before buying them, so you can see if you still want them.

Share your tips for living on a tight budget.

Tracking your expenditures, making a budget, putting up a savings plan, and paying with cash as opposed to a credit card are some money-saving advice. Furthermore, you should search for ways to cut costs, such as by utilizing vouchers and other discounts.

 

[Abigael]

Tracking your expenditures, making a budget, putting up a savings plan, and paying with cash as opposed to a credit card are some money-saving advice. Furthermore, you should search for ways to cut costs, such as by utilizing vouchers and other discounts.

You have mentioned very good tips to saving on a tight budget. You really need to be frugal with how you use your money and have a savings plan. Vouchers are discounts are awesome for reducing expenses.

 

[Kane]

If your income is small, the only way you can start saving is by resizing your life., resizing life means you will have to try to adapt to a new live style chance where you can survive with no more than 90 percent of your income.

 

[Good-Person]

If your income is small, the only way you can start saving is by resizing your life., resizing life means you will have to try to adapt to a new live style chance where you can survive with no more than 90 percent of your income.

It is really hard to save money when you do not earn a lot. This is because you eventually have to spend all of the money that you earn. This is why people must also focus on earning income as well.

 

[eenya001]

It is really hard to save money when you do not earn a lot. This is because you eventually have to spend all of the money that you earn. This is why people must also focus on earning income as well.

It is not even a good position to be jn when you are trying to make money, saving that same money is extremely difficult as you do not even have enough to cater for your needs.

 

[Yaqoob Habib]

If your budget’s been a bit more strained than usual in the last few months, you’re not alone. High inflation, lagging wage growth and the potential of a looming recession are some of the reasons why saving money might be getting more difficult.

Some expenses are almost impossible to eliminate. But that doesn’t mean you can’t reduce them. In particular, lowering your recurring expenses can be a big help because it will give you savings every month, not just one time.

But some changes in your lifestyle can help you a lot:

• Turning lights off when you’re not using them.
• Cutting the cord on cable and opting for cheaper streaming services. Streaming services often have shared or family plans that you can split between multiple people to lower the cost even more.
• Withholding from impulse purchases. One way to help do this is by writing down wants and waiting a week before buying them, so you can see if you still want them.

Share your tips for living on a tight budget.

Inflation is increasing even more in the future than in the past If you do not take such a plan from now on, which can deposit your savings If your budget is tight but still you can make a lot by saving a little for your future so that you can easily do something for your future If you choose from unnecessary Activities don't wast money then it will be easy for you in future.

 

[Good-Person]

It is not even a good position to be jn when you are trying to make money, saving that same money is extremely difficult as you do not even have enough to cater for your needs.

Well, this is why I think that people must balance things in order to manage them. If things are in shambles, then you will never gain control over them at all.