Simple basic 12 ways to save money on a Tight Budget that will help you to start saving from the first month. Use these tips to cut costs and save $$. Ever wondered about how will you manage to save enough money to go on that vacation that you have been planning on? How about saving enough to buy that new gadget that you have been thinking of? It is said that saving money is an art and it needs a lot of skills to save money on a tight budget. However, there are certain simple tips that everyone can use in order to cut down the extra expenses and save money. Here are twelve ways you can use to save money in daily life when your budget is tight.
Here are 12 ways to save money on a tight budget that any one can follow and start saving from the first month itself. Use these tips to cut costs on daily life.
1) Save Electricity
One of the most expensive commodities that we use these days is electricity. However, following some simple methods can save you a lot on electricity bills and add to your monthly savings.
- Make sure you switch off lights and fans of the room before leaving.
- Allow natural light in order to save electricity during the day.
- Install solar panels in order to save money on electricity.
- Purchase electronics with higher star ratings.
- Switch off mains if you are travelling for a long time.
2) Save money on Online Deals
There are a number of online websites that offer discounts on certain items of daily use. Make it a point to check for the prices of daily use items like groceries and other household products before buying the monthly ration. Compare the prices of the products on various online and offline stores and check for deals that offer discounts on bulk shopping.
A little research leads to great savings.
3) Go Vegan
Making healthy food choices can not only improve your lifestyle but can also save you a lot of money on a monthly basis. Not eating meat and going vegan is a healthy choice that has been adopted by a number of people all over the world.
In order to save money, stop eating meat and go vegan. Meat and dairy products are more expensive as compared to vegetables and fruits. Choosing to eat natural produce can save a considerable amount of money on your monthly budget.
4) Watch Movie Online instead going Multiplex
Everyone is fond of watching movies and being on a tight budget does not mean that you cannot have a movie night with your friends and family. Arrange a movie night at your home where you can watch your latest favorite movies online.
There are number of online websites that provide you unlimited access to latest films and TV series on paying a monthly subscription fees. There are websites that allow subscribers to watch multiple films on a monthly rental which is less than one ticket to a latest film at a multiplex.
- Amazon Prime
Going to multiplex will cost minimum $9 to buy a movie ticket, plus popcorn and other food will cost more. Thus, if you are going multiplex once a month, that means you are spending $108 every year. You can save this amount by watching it online.
5) Use Coupon to Buy Online
There are a number of websites like Neaybuy, Trideal and Little app that provide discount vouchers and other offer coupons for a number of services and products. You can get these coupon codes from these websites and enjoy everything from a meal to a salon service at much reduced prices.
6) Use Public Transport Instead Private Vehicles
Using a private vehicle can add a lot to your monthly spending, if done on a daily basis. In order to cut this cost, use a public transport medium like buses, autos, trains and metro for routine travel like going to work. This will not only help you stay punctual but also add to your savings.
You can also use a shared cab, which is another cheaper option as compared to private vehicles but still provides the comfort of the same.
Bonus Tip: Avoid buying car, since it costs on time huge investment, annual insurance and time-to-time servicing.
7) Check Online Sale during festival season
Online sales are a great way of saving on shopping expensive items like gadgets. During festivals, many websites offer huge discounts.
These sites offer huge discounts on a wide range of products like mobile phones, laptops, home theaters, televisions, and even on appliances like refrigerators and washing machines.
8) Shop on Classified Sites like Ebay, Craglist
There are a number of classified websites like Ebay, Olx and Craiglist that offer a number of second hand products like appliances, books and even designer clothes and apparels that can be purchased at much reduced costs. Grabbing these deals are a good way of saving a lot while getting a number of authentic products.
Also learn how you can save money on wedding by using these simple tricks.
9) Cut Cable TV
Most of the popular TV channels are going online and thus all their latest shows are available on their official websites along with popular websites like YouTube. You can save money by cutting your cable connection and watching these shows online.
The average package of a cable tv offers about 240 channels, and it cost around $75 per month. You may either cancel entirely and subscribe for Netflix to watch on television. This will surely save extra saving in your bank account every month.
10) Cut Newspaper
As all newspapers these days also publish their newspapers and all latest news as they happen on their online portals, you can save money by cancelling your newspaper subscription and reading news on mobile apps and websites.
If you are going to unsubscribe newspaper then you can easily save $10 a month, even more, depending on which newspaper you subscribed.
11) Use Credit Card for Shopping and Earn Reward
All banks provide credit cards in order to improve the experience of their customers. These credit cards are made customer friendly by adding reward scheme to each transaction made on these cards. You can use these reward points to earn cashback and add to your savings.
There are credit cards providers who offer better reward on every shopping. If you do a monthly shopping of $300 minimum, then you can easily earn good amount of points that can be redeemed after certain period. And can redemption value could be anything from $20 to $30.
12) Grow Beard
For men, saving money is much easier. Grow beard if you are a man, add to your style and appeal and save the money on grooming and shaving. This way, men can stay stylish and according to the latest trends and also save a lot of money that will otherwise go to the salons that they will visit twice a week.
A simple beard shaving could cost $10 in a saloon. And if you are going for 5 times a month then it will cost $50. That means you can easily save $50 each month.
Even if you do shaving at home, spending on shaving kit and Shaving Cream will cost at least $20 a month. Growing beard will add at least $120 to $300 to your bank account on yearly basis.