How to Save Money on a Low Income

One of the biggest problems for any low-income American is finding ways to cut corners in order to be able to save money for the future. One of the biggest barriers to that is the rising prices of just not everything in stores and the rising prices of utilities and essential bills. As a low income American myself, I have felt the struggle to be able to afford even the basics. That does not mean, however, that saving money is beyond you, but that the advice that you need is different from the advice that a middle-income American might need. Today I want to share some of my tips for how to save money on a very low income.

Cut non-essential items. For middle-income people cutting non-essential items out of their budget is a no-brainer but as a lower-income American knowing what is not essential may be a bit more difficult. The internet, while seemingly superfluous, may be a `great way to start finding jobs that may actually lead to a higher salary or higher quality of life, and even if you cut that, you can usually use your local library’s computers to use the internet and start a job search. My advice would be to start with cutting tricks the restaurants and paying for higher-quality food. Unless you're in desperate need of diet specific foods can you go without gluten free and dairy free products. And as for fast food, it's not really healthy anyway, so why even eat it? I'm not saying that the occasional splurge isn't good, but that they continue to have it might be hurting your finances more than you realize.

To add a cushion for Christmas, pay an extra $5 to $15 on your bills every month, then use the credit as a Christmas fund. The way we manage to afford Christmas gifts each year is by doing this and then paying the lowered price in December.
Pick up a habit of finding loose change. Vending machines, coin operated vaccums at car washes, even hiding in washers and dryers at laundromats. The average person loses about $100 in change a year, and finding that kind of money can be a boon to your financial present and future.

Set a goal. Nothing motivates me more than finding something that I'd like to do and working towards it. Whether it's a house, a nicer car, or a cheap vacation, we can set realistic goals and reach them through willpower.

Don't be afraid to get assistance. There are government programs out there to help low-income families find help to pay rent and utilities, and being able to afford to keep your lights on might be the difference between night and day for your mental and physical health.

Don’t completely deprive yourself, but make changes slowly. A nice meal or a trip somewhere once or twice a month won’t hurt too much in the long run. Just be mindful that your budget is just that, your budget. What you prioritize can be what works for you.

Beyond this, just remember that this is not an exhaustive list, but a set of starting points to get you into a good place.