How To Save Money When You Don’t Have Any

Earning money is hard enough, but saving it is just as tough. Particularly when your money runs out just as quickly as you get it.

So how does one save money when there’s little of it on hand? Here are a few tips on you can do that.

A change in one’s lifestyle is a big step towards saving money. By identifying the things in your life style that’s draining a lot from your earnings, you will be able to properly allocate your budget. You will be surprised to know how much money you are throwing on unnecessary things.

Begin by making a budget

To start, plan a budget. Take into account all your expenditures and note them down. Set aside a reasonable amount for all of them, and make sure that they fall within your income. Make a budget for your groceries, your utilities, even for your occasional splurges and treats. Allocate a portion to your savings as well. It doesn’t have to be a huge amount, but rather one that is workable and attainable.

The next thing you need to do is to start making action towards lessening your expenses. While your biggest goal is to put money towards your savings account, your actions will eventually let you save money in the long run.

Budget your daily spending. Most of the money we spend in a day can be easily cut down, particularly if you have a regular schedule or pattern of activities. A good portion of these expenses are indulgences, and the expenses you can cut down from these can be put towards your savings. If you feel the urge to buy something you know you don’t need, take that money, put it aside and forget about it.

Bring a packed lunch. Your grocery budget should include provisions for a daily lunch. Buying your lunch at the corner deli may seem more practical and time-saving as opposed to getting up a little early to prepare it, you actually end up spending more in the long run. Here’s a trick: bring your lunch, and set aside the money you’d normally use to buy it from the cafeteria or somewhere else. After a month or so, you’ll find that you’ll have a substantial amount of savings.

Save your loose change. A lot of us disregard the coins we have in our pockets. You lose a cent, you don’t really take much notice, but you lose a dollar, you fret. Here’s what you can do: after each day, take what’s left of it and put it in a jar. Do this every day and if you’re doing that along with keeping your lunch money, your savings by the end of a month will really stack up.

Lessen your electricity bill. This move involves a bit more planning. Do some energy saving tips that will help you cut back on your bill such as:

  • Change your light bulbs from incandescent to compact fluorescent.
  • Unplug all appliances that aren’t in use.
  • Replace old appliances with newer models, particularly the energy efficient ones.
  • Do your laundry and ironing by bulk, but don’t over-task your equipment.
  • You’ll find that by efficiently cutting down on activities that consume a lot of electrical power, you can cut down on a substantial amount on your electric bill.


Downgrade your subscriptions or get rid of the ones you don’t need altogether. Got cable but rarely watch TV? Cancel it. Have high-speed Internet but use it only for checking email and doing some light surfing? Downgrade it to a package that will cost less but still offer you enough speed to let you do what you need to do online. Not using up all your minutes or free text messages? Change to a lower plan that has a better allocation and affordable cost.

These changes don’t seem like much, but the difference in the money you shell out will help jumpstart your savings. Once you get used to saving, it becomes a second habit. From there, watch your nest egg grow.