When money is tight it can be difficult to even think about a savings, especially if you owe on other bills or are in debt. The first thing you should do is create a budget and make a plan for your current income.
Now this article would be for those who don’t have enough money in their budgets to put some towards a savings, this is where these 5 creative ways to save money will come in handy.
Easy Ways To Save Money On a Tight Budget
Most of us are very busy with our everyday lives so let’s be real, we don’t have a ton of time to make extra money! Luckily these are very easy to do and can help build your savings fast.
Related:
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HOW TO KNOW IF YOU HAVE TOO MUCH DEBT TO LIVE
HOW TO MAKE A BUDGET IF YOU HATE BUDGETING
HOW TO SAVE MONEY ON YOUR BILLS
How To Save Money When You Are Broke?
Being flat broke you might think that it is impossible to save money, however there are tons of ways to save money on a low income that you may not have thought of.
One thing to remember however, is that none of this extra money will be included in your budget since it is unreliable and not necessarily passive income like your day job would be.
Here are 5 ways to save money when you are broke.
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1) Save When You Do Buy
You have a few options here such as using coupons or points cards for certain stores.
Another way to earn is through a cash back site such as Rakuten (formerly Ebates). To date, their 12 million members in the U.S. have earned over $1 billion in Cash!
That is pretty impressive, and since they are partnered with popular stores and often have deals so you can get even more money back, I am not surprised.
When you do make a purchase using Rakuten you can get cash back, which is free money for you. You then can set that extra money aside for savings.
Rakuten is 100% free to join making it a great choice for those on a tight budget.
2) Save Money When You Can
Being on a tight budget is tough, but sometimes we may get some extra money and most times we spend it. This is where Digit comes in handy, Digit is a nifty app that can automate your savings for you.
Digit analyzes your spending and automatically saves the perfect amount every day, so you don’t have to think about it.
Related: How To Save Money In 30 Days
3) Try a No Spend Challenge
These challenges are very popular because they really help those on a low income save a good amount money in a short time. There are many ideas you can find on Pinterest for challenges.
If you decide to try a no spend challenge opt for a quick one so that you don’t get discouraged and quit.
4) Earn using Survey Sites
Taking advantage of survey sites could be your golden ticket to saving money when you have none. There are tons to choose from and most these days are legit survey sites.
One of my favorite survey site would have to be Swagbucks! The best thing about Swagbucks is they have very low payout thresholds, so if you wanted you can redeem your points for Paypal cash with only 3,000 points which is equivalent to $3.
Sign up FREE for Swagbucks and claim your $5 sign up bonus!
My second favorite is Survey Junkie, it is the most popular Survey Site because you can earn up to $50 per survey and they are free to join!
Pro Tip: Open a new email address specifically for your survey sites as they tend to send a lot of emails of surveys you qualify for.
Once you accumulate enough points you can redeem them for free gift cards or even free Paypal money!
If you get lucky and appeal to a larger demographic (once you fill out your profile) people have claimed to easily make over $200 per month.
Sign up for Survey Junkie %100 free!
The more you sign up for the more you can earn, some even offer sign up bonuses (like Swagbucks) so you are getting free money! Here are a few more legit survey sites you can sign up for:
MyPoints and RewardSurvey are also great options! Sign up for all and only complete the higher points surveys, save time and make more money!
5) Use Side Hustles
Side hustles are great when you are looking for ways to save money on a tight budget. Since many can become very profitable, depending on how much time you can put into them, side hustles even have the potential to replace your 9-5 day job!
Some popular side hustles you can start today are:
Make money reading books online from home, yes you CAN do that!
Fiverr: Great for beginners, it’s free to join and you can create a gig for almost anything! I personally still use this side hustle (I create Pinterest Graphics).
Start a Blog: This is more of a long term side hustle as it does take a bit to start earning, however potential earnings are far more and passive once you get going.
Virtual Assistant: Becoming a virtual assistant is a great way to earn income on the side. Many make up to $60,000 per year or more!
There you have it! Share some of your saving tips below!
Looking for more ways to save money?