Five Tips for Saving Money When You’re on a Tight Budget



If you are between jobs, or looking for a higher paying one, you know it can be tough tightening the belt while finding your next gig. But until you have a new job lined up, it is smart, and often necessary, to be more careful with your spending to make sure you have what you need until you are employed again. Here are five ways you can save money (or make a little extra) when you’re on a tight budget.

Eliminate the “Wants”

Budgeting your money might not come naturally, but it is a skill that is easily learned. When you go from having a steady income to stretching your resources until your next paycheck, it can be very stressful. The trick is to separate your “wants” from your “needs.” Wants are purchases or spending which can be delayed or avoided altogether because they do not serve a critical need. Take a look at your monthly expenses and eliminate the “wants” for the time being. Common expenses that are easy to cut include entertainment and unnecessary shopping. Avoid buying things just because you want them. Focus on the purchases that are true necessities.

Eat Out Less

Eating out is a real burden on your budget. By reducing your restaurant spending you can save a substantial amount of money. Common expenses include restaurant and take out. Just cutting down on your coffee shop habit can make a pretty substantial dent in your monthly expenses. Especially if you’re used to grabbing lunch at the office, this goal requires some self-discipline and a little extra planning. Do your grocery shopping with a plan for what you will be having for meals throughout the week. If you keep healthy and delicious tasting food on hand at home, it will be easier to keep from eating out.

Remember to Save

Saving money is having the discipline to put a little bit aside from each paycheck. Spending as much as you earn will put you on the fast track to financial trouble, so it’s critical to save something (at least 10 percent if you can) from every paycheck you receive, even if it’s not a lot to begin with. Consider even putting all your change in one designated location, and not even thinking about it. Those nickels and dimes can add up fast.

Take on Temporary or Side Jobs

Often a problem saving money comes from simply having higher expenses than you can afford. Taking on temp jobs or side gigs can help reduce that stress and bring in a little extra cash when you need it most. There are any number of short-term opportunities available with both remote and on-site work environments. Connect with a local recruiter to see how you might be a great fit for a job that will help you get on top of your savings fast.

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