So you’ve already cut back on your expenses by knocking out frivolous purchases like Starbucks, but you want to save even more money. Since you’re already on a tight budget, it takes a little creativity to find additional savings. Here are 10 ways to save money on a tight budget.
1. Keep a Change Jar
Even those who frequently use debit and credit cards will occasionally carry cash. Always keep your change. Pick up any coins you find on the street or at a store. Keeping a change jar and contributing to it any time you can will really help the savings add up.
2. Buy Used
Certain items like electronics and furniture can be bought second hand without any loss of quality. Here is a list of products you should always buy used.
You can also shop for second hand electronics like cell phones and computers from people who like to upgrade to the newest gadget upon release. Chances are their electronics will be in very good condition and you won’t be using technology that is very outdated.
3. Last Year’s Models
This tip is for electronics, appliances and furniture. Last year’s vacuum cleaner will still work wonderfully, but can be bought brand new at a steeply discounted price. The same goes for televisions, computers, cell phones, etc.
4. Thrift Stores
Shopping at thrift stores is a great way to save money on clothing. And because vintage is in style right now, you can still keep up with the latest trends.
5. Money Saving Tools
Use available money saving tools and apps to keep on top of your finances. Here is a list of 10 Online Tools and Mobile Apps to Save Money.
6. Cheap Vacations
Vacations and travel expenses can easily get out of hand so make sure you are saving the most money you can when planning and taking any trips. Luckily, we offer a full guide to saving money on vacation and travel costs.
7. Lower Your Bills
Save money every month by sending your bills to BillCutterz. They negotiate discounts on your monthly bills like cell phone, internet, cable and satellite TV, insurance, electricity and more.
8. Automatic Payments
Putting some of your monthly bills like insurance or car notes on auto payment can get you a reduced rate. Talk to your mortgage, auto loan and insurance providers to see about getting an interest rate reduction just by enrolling in their automatic payment program.
9. Credit Card Rewards
Many credit cards offer rewards programs just for using them. Take advantage of any rewards, and even use multiple credit cards that offer different rewards for different purchases (like 3% on gas purchases or 1% cash back if you shop at Costco, etc.)
Playing the credit card reward game is only a good idea if you make sure you pay off your credit cards every month to avoid paying any interest.
10. Do it Yourself
Always look for ways to do something yourself if you can. Don’t call a plumber for a simple clogged drain. Learn how to mend your own clothes. Make your own gifts instead of buying them.
But make sure to know your limits – you don’t want to accidentally make things worse and then have to hire a professional.