save money on a tight budget

How to Actually Save Money on a Tight Budget

You’re living on a tight budget. You may have already cut back on your frivolous purchases, but you’d like to save even more money and don’t know where to start. It may take a bit of creativity, but it is possible to find extra savings!

Here are some ideas to help you save money on a tight budget:

Keep your receipts

Most people who feel they are broke and have no way out, actually change their perspective when they find out how much they actually already have and waste. Keeping track of what you spend each month can help you make changes to your spending habits which could account for a large chunk of change in the bank.


Evaluate what really is a necessity in your life. Is cable TV really needed at this time or can you use some creativity to occupy your time otherwise? Maybe you have both a land line and a cell phone and perhaps cancelling one is a possibility. Taking a good look at all your recurring expenditures and really evaluating what is an actual necessity (and getting rid of those things that aren’t) will really help you save money on a tight budget.


save money on a tight budget

In North America, people are continuously living outside of their means. It’s impossible to save money if you’re living a $100,000/year lifestyle on a $35,000/year salary. Prioritize what is important to you at this time and get rid of the rest. You may want to put the kids in piano lessons and guitar lessons, but you can’t afford to do both. Pick one, then move on.

Cut out a convenience item

Start by cutting out one convenience item at a time.  Do you typically buy packaged cookies?  Start baking your own.  Rather than purchasing high priced, chemical laden cleaning products, make your own!  (Check out my own homemade cleaning kit.)  By cutting out one convenience item at a time, you’ll be making little strides towards your savings goal!

Earn more

Of course, earning more money is a great way to add to your savings.  Take on a part time job, ask for a raise, turn a hobby into a side business.  Just make sure you save your extra, don’t spend it!

Sell what you don’t need

You’ve all heard of Kijiji, Craigslist Facebook Buy & Sell Groups and eBay, I’m sure.  I’m also pretty sure you have stuff around your home you don’t need anymore. Sell what you don’t need on one of those previously mentioned sites or have a garage sale, then head to the bank and make a deposit!

Collect change

Make a jar for your spare change then throw it in there.  Empty your pockets and change purses every night into the jar.  Keep going until the jar is full, then pay a visit to the bank to make a deposit. It’s possible to save hundreds of dollars each year this way!

Shop wisely

Pay attention to how and why you shop. You may discover that purchasing Christmas presents during the Christmas frenzy is expensive and tough on your budget. Why not start buying presents during after Christmas sales or seasonal clearance sales? You undoubtedly have a list of the same people you have to buy for every year so when you’re out shopping, keep an eye open for any gifts they may enjoy.

printable budget planner

Another thing that can really help when you’re overwhelmed or paralyzed by the thought of budgeting? Create a plan to stay focused! Check out this thoughtfully made BUDGET PLANNER – pages to help you achieve financial goals, track your bills and spending, discover what you did well, what you need to improve on and so much more!

Money may be a little tight, but choosing to do some of these suggestions could help you save thousands. Decide what you can give up to help you save big and reach those financial goals a bit quicker.

What are you willing to do to make a change in your financial situation?  Have you got any other suggestions?