Do you run out of money each month? You are not alone. Many people face financial hardship. In this article, you’ll find 7 real-life tips on how to save money on a very tight budget to help you save money — no matter how tight your budget is.
This hard time is not just for you. Many people today worry about high prices, bills, and extra spending. Their monthly income only covers rent, electricity, and food.
In this situation, saving money feels very difficult. But the good news is, you can save money by changing your small habits. Even if your income is low, you can keep some money aside each month with easy tips.
Here are 7 real-life tips I’ve used (and seen others use) to save money, even on a tight budget:
1. Track Every Dollar You Spend and Save More
The first step to saving money is knowing where it goes. When you track your spending, you learn how you use your money. This helps you find ways to spend less.
Why is this important?
Small things, like a soda or a toy, may not seem like a big deal. But if you buy them often, the cost adds up. Over time, you may spend more than you think!
I used to buy coffee from a café almost every day. Each cup cost $5. After tracking my spending, I saw I was spending over $100 a month! So, I started making coffee at home. I save approximately $80 each month.
How can you start?
- Use easy apps like Mint or Expense Manager to track what you buy.
- Don’t like using a phone? That’s okay! You can write down everything you buy in a small notebook.
You can make better choices and save more money by watching your spending.
2. How to Make a Realistic Budget You Can Actually Follow
Budgeting isn’t about restrictions but prioritizing your needs over wants. A solid budget can help you give funds efficiently and stay in control.
How to build one:
- List all your monthly income sources.
- Calculate essential expenses (e.g., rent, groceries, bills).
- Set aside a portion for savings, even if it feels small.
Pro tip: The 50/30/20 rule is a helpful guideline for many. Spend 50% on needs, 30% on wants, and save/invest 20%.
Stick to your budget by reviewing it weekly. Ask yourself, “Is this expense necessary?”
3. Save Money Fast by Cooking at Home Instead of Dining Out
Eating out or ordering delivery is timely, but it’s one of the biggest drains on any budget. Home cooking, on the other hand, saves hundreds each month.
Why cook at home?
- It’s cheaper than dining out.
- You will know exactly what ingredients are in your meals, which will make them healthier.
Tips to save more:
- Make a weekly meal plan. Then, you won’t be tempted to order takeout at the last minute.
- Batch cook meals and freeze portions. It saves time and energy.
- Use apps like Mealime or Cozi to streamline meal prep.
Cooking at home will save food costs and bring a sense of achievement.
4. How to Save Money Using Public Transport or Walking More
If you own a car, you’re familiar with the high cost of gas, insurance, and maintenance. But there’s an easy fix to save big on transportation costs.
Tips to save:
- Take public transport whenever possible. You can save even more by purchasing monthly passes.
- Live close to work or school? Walk or bike instead. This also improves your health!
- Take a ride with friends or co-workers to share fuel costs.
5. Delay Unnecessary Purchases to Save Money
What Does It Mean?
Sometimes, we want to buy things we don’t really need—like toys, snacks, or new clothes—just because they look fun or exciting. “Delaying unnecessary purchases” means waiting before you buy something to make sure it’s really important.
Why Should You Wait Before Buying?
- You Might Change Your Mind
- After a day or two, you may realize you don’t need it anymore.
- Saves Your Money
- Waiting helps you save money for things you really want or need.
- Makes You a Smart Shopper
- Thinking before buying helps you make better choices.
Easy Tips to Follow
- Wait at least 1–2 days before buying something fun.
- Ask yourself, “Do I really need this?”
- Talk to a parent or adult about your choice.
Remember:
Not everything we want is something we need. Waiting a little can help you spend your money wisely!
6. Find Free Entertainment Options on a Tight Budget
You don’t need money to have fun. There are plenty of free ways to stay entertained and enjoy life without spending a cent.
Outdoor Fun
- Visit local parks or hiking trails.
- Have a picnic or join free outdoor fitness sessions.
Library Perks
- Borrow books, movies, and audiobooks.
- Attend free workshops and community events.
Free Digital Entertainment
- Watch shows on YouTube or Tubi.
- Listen to podcasts or join free online classes.
Tip: Search “free events near me” on Google to discover hidden local gems every week!
7. Make Extra Money With a Small Side Hustle
Every dollar counts when you’re on a tight budget. Starting a low-cost side hustle is one of the best ways to increase your monthly income without needing a big investment. Even just a few hours a week can make a big financial difference over time.
Why a Side Hustle Helps:
- Bring in extra cash for essentials or savings.
- Reduces money stress during tough times.
- Helps you learn new skills or use your hobbies for profit.
Easy Side Hustle Ideas (With Little to No Cost):
- Freelance Online – Offer writing, design, or virtual assistant services on sites like Fiverr or Upwork.
- Sell Items at Home – Declutter and sell unused items on Facebook Marketplace or OLX.
- Tutoring or Teaching – Help students with subjects you’re good at or teach a skill online.
- Handmade or Baked Goods – Sell crafts, snacks, or sweets in your community or online.
Pro Tip:
Start small and track your progress. Even an extra $50 a month can help cover groceries and bills or go straight into your savings fund.
Conclusion
Saving money on a very tight budget is completely possible—you just need to start small and stay consistent. Begin by tracking your daily expenses and creating a simple budget you can actually stick to.
Cut out things you don’t really need, look for cheaper alternatives, and consider picking up a small side hustle to boost your income. Even saving just $5 a week adds up over time. The key is to take that first step today.
Taking charge of your finances builds your savings and gives you peace of mind and a sense of freedom.
