Ways To Save Money While Working

When you’re squeaking by on a modest salary and your whole life is ‘paycheck-to-paycheck,’ the whole idea of saving might not convince you very much. But as unconvincing as it might sound, this idea works. You can fully adopt and culture a saving culture, even when your income appears too little to save.

Would you like to know how to set aside a percentage of your wages for your savings account?

Saving tip #1: Stay away from debts

This straightly doesn’t qualify to be a saving tip, but it is vital that you get to understand it. What could be forcing you to live off your little pay are those small debts, bills, and mandatory payments. Sure, you can’t eliminate bills and debts, but with intuition, you might stay away from them and instead save a bit of your income.

Think about it this way: Imagine you’ve no mortgage payment, car loan, credit card payment, water bills, food expenses, etc. to make. The only expenses you will struggle to cover will be utility payments. So, work towards suppressing your debts – find a side-hustle, work extra hours, find an extra job or relocate to a modest neighborhood and adopt a frugal lifestyle.

Saving tip#2: Save those pennies

“A penny saved is a penny earned” goes the adage and it is right in each sense of it. Find a piggy bank or use a change jar to store those ‘loose change.’ After a month or two or a year, roll up the amount saved and head to your savings account. Remember, you won’t retire rich off your earnings, but those $10, $20 or $50 a month you pad your piggy bank.

Saving tip#3: Cook and eat at home

Maybe you’ve never sat down and calculated how much you spend weekly on dinner and fast food. But you do spend a lot. To redirect that to your savings account, first, avoid spending on expensive foods for no reason and instead cook and eat at home. Also, save on the groceries and needless shopping spree. So that you don’t get bored missing your favorite pie, burger or hot dog, polish up on your cooking skills by consulting the web for tutorials and videos.

Saving tip #4: Park your car

It isn’t a secret that gas can be damning expensive for no reason. Try not to drive to work when public transport can serve you well. You may even bike to work; it’s much healthier and safer and more economical than relying on your car.

Saving tip #5: Negotiate Reduced Periodical Payments

You can also talk to your lender and be honest about your situation and inquire about the idea of refinancing. Any sane landing agency will be willing to accommodate your suggestion as long as you don’t fail to pay the agreed amount. Some of the payments you can negotiate include rent payments

Bonus tip: Find support groups

Facebook has a lot of great resources for those who earn a little amount, but would love to save. At these groups, members get encouragement, set goals and share ideas on what side-jobs to take.

Get involved!


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