How To Save Money, Even With A Low Income

Not everyone has the ability to buy what they want, when they want, so it is essential to know how you can save money if you are living with a low income. You have to take some time to really look into your finances and your expenses, to figure out how you can save.

1. Plan every shopping trip.

If you go to a store without planning it, you may open yourself up to more than just window shopping. You have to remember that you have a low income and that you need to plan ahead to make sure you do not overspend on items you do not need.

Your groceries are one really good place that you can start to save money. Make a list of everything that you need before you go to the store. Include only the essential items and do not make any impulse shopping purchases. Just because something is a good deal and really cheap, does not mean that you need it. A few dollars here and there can add up to a shopping cart full of unnecessary items and empty pockets.

2. Steer clear of credit cards.

If you already have a low income, the best option may be to let go of the urge to get a credit card. While it is great for helping you get items now and paying for them later, it is equally good and creating too much debt. Think about the fact that you will have to pay interest later on and that will definitely add up quickly. You will also have to see to it that you make your payments on time or you will also get a late fee added on as well.

Another reason to avoid credit cards is that they can cause you to make impulse purchases. There is no point in getting unnecessary items just because you can. Use your money wisely and save as much of it as possible. When you have a low income rate, you need to avoid all things that lead to you spending your money carelessly.

3. Get a second job.

It may not be something that you want to do, but it might have to happen. If you have goals set that you need to save money for, then you need to make sure that you have a method that allows you to make more income. A second job does not have to be full time. It can be part-time or some part-time work on the internet.

There is an endless amount of online jobs that allow you to make some extra money, without spending hours out of each day. You can even open up a free online store and sell items that you no longer need. You are helping to down size and make money at the same time.

4. Downsize whatever you can.

It is not always possible, or easy, to pay a mortgage, utilities, property taxes, home insurance, and auto insurance at the same time. This is when you should really consider downsizing. You should never feel like you are taking a step back in life when doing this. You are simply making do with what you can and making it possible for you to have a better quality of life.

You can make a move to a smaller home, townhouse, or even an apartment. Paying rent can actually have its own benefits. Many communities and apartment complexes offer garbage disposal, lawn maintenance, and in-home maintenance for free. This saves you from costly repair work you would have to put out for if you have a larger home.

If you have a number of vehicles or one very expensive vehicle, you should do the same as far as downsizing goes. All you really need is a vehicle that can get you from point A to point B and a little bit in between. Extra accessories, paint jobs, sound and navigational systems are not necessities. Avoid this and you can save an enormous amount of money on maintenance, insurance, and gas, especially when you have a low income. Coincidentally, you can choose to walk if you are able to, avoiding using up your gas money altogether.

5. Get rid of unnecessary bills.

If you have a number of bills that are just not a crucial part of your life, you should get rid of them. Subscriptions, gym memberships, and TV are just a few that are not considered important.

If you invest in one bill, like internet, you can take care of all of these and more. First, any magazine subscriptions can be found online for free through the magazine's website. There are thousands of free work out videos available online so you do not have waste your money on expensive gym memberships. You can watch just about any show you want, for free, online through a cheap subscription, or during a limited time on the channel's website.


Having a low income can be hard, but it is possible to find ways to save money. Following these tips can help give you a start to doing just that.

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