Tips For Saving Money On A Tight Budget

Sometimes it seems like there is only enough money to pay the bills. When you are in this situation, the last thing you are thinking about is beefing up your savings account. Before you forego adding to your nest egg, read these tips for saving money on a tight budget:

1 Buy Used

If you have not visited a garage sale or thrift store before, now is the time to start. If your finances are tight, you need to consider buying things used before buying new. Often times, prices are reduced by up to 60% or 70%, depending on the quality, meaning you can increase your savings exponentially.

2 Get it Free

If going without is not an option, try getting it free. For appliances, check your local freecycle.org lists and the free list on craigslist.org. There is almost always someone giving away washers, dryers, and old television sets. The key for this, is to plan ahead for things you may need. If your current dishwasher is showing signs of duress, now is the time to start looking for a replacement. Sign up for an email list, and check stock regularly, so you can snag things for free before you need them desperately.

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3 Drink Water

You may not have noticed it, but soda, juice, coffee and tea slowly eat away at your grocery budget. Instead of buying these things, put away the money you would have spent on them into an envelope or jar. At the end of the month count it out, and see what kind of funds you are accruing. Not only are you adding to your savings on a monthly basis, but you’ve found an alternative to soda and coffee, which can be great for your health, too.

4 Don't Pay For Entertainment

Stop eating out so much, cut back going to the movies, don’t pay for books, and put an end to shopping out of boredom. Try to make your entertainment free. Check out your local library and rent books that interest you. Find out what kind of events are happening in your City that are free. There may be art festivals, concerts or shows that are free. You can visit a park with friends and enjoy each other’s company. If you don’t mind staying at home, the library is a great way to get free books, music, and movies. If going to restaurants used to be your favorite activity, check some cook books out of the library. Pass the time cooking and learning new recipes instead. Invite friends over and enjoy the new food you’ve learned to cook, all for free.

5 Don't Buy

Finally, if saving money is hard, it is best if you are not spending anything at all. If something breaks or wears out, first consider how you could fix it. If fixing it is not an option, try going without it for a while. The experience might show you how much you can save, but also how freeing it can be to simplify your life.

To save money where there seems to be no extra, there are only three things you need and none of them will cost you a penny: creativity, patience and determination. You will surprise yourself with how much you can save, and enjoy at the same time!

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