At some point in life almost everyone has had to live paycheck to pay check. In fact currently 76% of Americans live paycheck to paycheck, with the rising cost of food, utilities, rent and items for the kids it seems like a struggle to stretch that money as far as it will go. There is nothing left for those unexpected expenses such as a broken air conditioner or medical bills all that does is set you back even further in debt. If you are looking for ways to save money when living paycheck to paycheck there is hope! It takes dedication and help from everyone in the family but you can do it.
Here are some of my best tips on how to save money when living pay check to pay check.
Create a budget: Do you know where your money is really going? You might be surprised to see where your money goes if you write down or record every cent you spend. Your number one tip on how to save money when living paycheck to paycheck is to create a budget and stick to it. Here is a great FREE budget worksheet to get your started.
Save Small: Do your best to save little amounts. Small amounts of money such as $2 here and there add up! You could also make a goal when you break a $1 the change goes into a jar, use this money to slowly start a savings account.
Cut Cable: Cable is such a big monthly expense! Do you really need cable? We purchased a small digital antenna and put it in our attic and we get over 40 HD channels absolutely free! You can purchase them here. We will never go back to paying for cable.
Use Your Time: We all have SOME extra time. Use that time to make extra income. Parents would LOVE a night out so offering to babysit is a great idea, put out a small ad and clean 1-2 houses. Another option is to find something extra that allows you to work from home. I’ve got a great list of Work at Home options for extra money here.
Sell, Sell Sell: Look around your home and find items you don’t need or no longer use and sell them on local Facebook trade groups or eBay. Do you have clothes you or the kids no longer wear? DVDs, Books, these will all sell and bring in extra money.
Save on Groceries: For most of us other than the rent, food is the largest expense on the budget. Do your best to shrink that number as low as possible. Some great ideas on how to save money on groceries would be to start a garden, use coupons, drink water instead of soda. These all up!!
Don’t Buy New: Shop thrift stores or garage sales on anything related to the house or clothing. You would be amazed at the deals you find and will be amazed at how much money you can save by doing this.
I know first hand raising a family is not cheap but there are so many ways on how to save money when living paycheck to paycheck. These simple steps alone will easily save you thousands per year. For more great tips come join me on Facebook!