Simple Ways You Can Save Money On A Tight Budget

Sunday, September 15th, 2019
saving a coin into a piggy bank

Saving on a tight budget can seem nearly impossible. After all, how can you save money when you don’t have money? Living from paycheck-to-paycheck is a strenuous way to live, but any small amount that can be diverted into a savings is worth it. Nickels and dimes save up quick, even on a low income.

Take a look at our suggestions to see if there’s any wiggle room for you to pinch pennies. 

Cut The Cord

If you have cable or pay for television service, consider dropping it completely and moving to YouTube or streaming services like Netflix or Hulu+. There are more and more households making this switch everyday, and for good reason. Cable bills routinely average $100 or more per month, while a subscription to either of the streaming media services cost around $10 per month.

Look Online For Deals

Search the web for online specials, coupons, or deals. Groupon, Living Social, and Amazon Local are just a few of the places you can start. Look for the deals that allow you to score savings on household items, groceries, or similar. You’ll also want to make sure that you only buy the online deals that you know you’ll use. Don’t make the mistake of grabbing a coupon for the sake of how good of a deal it is, chances are that you won’t end up using it–and it will ultimately be money wasted. 

Bring Your Lunch To Work

One of the biggest money-wasters out there is eating out. Common sense, right? But how often do you bring your lunch from home with you to work? Start there. You’ll find that by fixing a sandwich or boxing up leftovers instead of buying a $5 lunch from a nearby fast food place will save you well in excess of $100 a month.

Stay At Home

To save the most money on a limited income, stay at home! By staying at home, you spend less on gas, purchase fewer items, and conserve your resources. The more you’re out and about, the opportunity you have for frivolous spending, which is detrimental to your savings account. There’s nothing wrong with hosting a potluck dinner or inviting friends for a night of board games and fun at home. 

When you take simple measures like these, they add up. Think about saving money on a tight budget like going on a diet. No matter how hard you try to target one area, you’ll see a gradual slimming everywhere. Focus on cutting back where you can as the opportunity arises for the best results. If you cut drastically from one particular area, the result won’t be quite as fruitful than if you make reductions all across the board. 

Your Membership Matters at BFCU

At Borger Federal Credit Union, we care about the needs and empowerment of our members. We strive to provide members with valuable insight and financial advice. We are able to offer lower rates on loans, and offer a variety of Services at the best possible rates. Call Us today and start enjoying the benefits of membership. You can also Contact Us through email or visit us during business hours to speak to a representative. We are located at 1051 N. Florida Borger, TX 79007.