Saving Money 4 Ways To Save Money On A Low Income

[Yusra3]

1. Buy Used Items

Buying used items is a great way to save money on your purchases. You can get the best deals by buying something that was previously owned by someone else, and it's also much more environmentally friendly than buying new products.

2. Get A Subscription To A Magazine Or Newspaper

A subscription to a magazine or newspaper can cost you hundreds of dollars a year but if you get one that lasts a few months or even just a week, then you're saving a lot of money. It's also helpful if you get one that comes with free access to the internet, so you can read online while waiting for your print copy to arrive!

3. Cut Out Cable Costs

If you have cable television and internet service at home, consider cutting them both out entirely and using streaming services instead. This will save you hundreds of dollars each month!

4. Buy Used Furniture And Appliances

When purchasing furniture and appliances for your home, think about buying used ones instead of new ones that need replacing so often as time goes on (which can cost hundreds of dollars).

 

[moonchild]

When it comes to saving money, low income seem the worst because the money is not even enough for you talk less of saving it, if you have to save on low income, you have to compromise on a lot of things, like the way you live and things that you spend on.

Food is one of the biggest expense that eats a lot of people budget, so you have to compromise on that, you have to be buying organic and unprocessed food and be preparing it at home, because eating out costs a lot of money, also processed food costs a lot of money.

There are other ways which are banking on discount items and also buying only essentials and doing away with frivolities and impulsive buying, you can also think of getting a new job, or a side hustle that can augment your income or you can ultimately start a business

 

[Augusta]

It is always good to save money no matter how small you can it will help you have more money in your pocket. You have listed great wzys that we can achieve these.


I totally agree with you buying used items to save money on your purchases. You can get the best deals by buying something that was previously owned by someone that are still in good condition you would save money. Another thing to conserve money is Food is one of the biggest expense that eats a lot of people money

With food you need to compromise on this too. You need curtail eating out because you would spend a lot of money. Rather you have to buy organic and unprocessed food and be preparing it at home, because when you prepare food at home you spend less and money is save.

Just adopt says of saving money to avoid going broke.

 

[Shaf]

There were times I has to cope with low income, and it is not easy to save money especially if you have others depending on you and I think it's easier to get another source of income if you want to save a significant sum of money.

There are ways you can cut down on living expenses and save money, but if you are living hand-to-mouth, it will not be easy and will require a lot of discipline over a long time. One of the ways I found easy to cut down cost and save on a low income was to look for cheaper subsititues for things I needed, especially foodstuffs. You can also try to plant your own food if possible.

If you want to save on a low budget, Yiu need to budget according to your lifestyle and realize that what you are doing will not please others. You need to develop a thick skin to withstand the side talks you hear, but keep the final picture at the forefront of your mind always and it will be easier.

 

[Sotherefore]

In most cases so many people may be interested to cut off the risks of their spending by buying things that is absolutely necessary . Some people may prefer to buy used products too. But apart from cutting off your expenses on things , there are so many other ways that could lead to people spending so much money , such could be an addiction.

Some people are generally addicted to so many things such as smoking and drinking and if care is not taken these are the things that they will mostly spend most of their money on. So many people at the same time are also gamblers which means that they are likely to spend much of their money in gambling which is not always profitable.

As long as savings and spending is concerned we must be discipline to cut off our addiction as it is the main things that leads to lack of savings

 

[Holicent]

Goal setting is a useful tool to help you achieve your financial goals. It's about the income but the discipline. You might want big and not still have any reasonable savings.

One of the most important things to remember when setting goals is that they should be SMART.
S = Specific: Write down what you want, who it's for, when it's due and how much you want to save.

M = Measurable: How do you know whether or not your goal has been met? How do you measure progress in achieving your goals? How do you know if your progress is good enough?

A = Attainable: You need to know that it's possible for you to achieve this goal. It needs to be challenging but not beyond your capabilities or resources.

R = Realistic: This means that the goal should be something within reach, which will help keep you motivated throughout the entire process.

Saving is something that most of us want to do, but don’t. We just don’t think about it. Setting goals for saving can help you get started on the path to financial freedom.

 

[Realekom]

When it comes to saving money on a low income one has to be careful with his/her spending money, is usually difficult on those who ha e high taste of material things, but drafting a list of spending can help you get over it, not spending more than your budget can be of great help.

 

[Suba]

@Yusra3 I don't agree with the first point, why do we have to buy used items. If we buy used items such as laptops, smartphones will of course break down quickly, especially if you buy used clothes your body will itch and your beauty will disappear. I think saving is good but you don't have to torture yourself, so saving is practicing a habit, not the amount of money you have to save, you can start practicing saving even if it's only 1% of your income.