5 Simple Ways to Save on a Tight Budget

There are always ways to cut back on spending.

But when your budget is already tight, they might be hard to find! Read on for 5 simple strategies to save money that may surprise you…

Cook your own food instead of eating out. Eating at a restuarant is about 300% more expensive than cooking at home. For instance, a $12 dollar burger at your favorite spot would cost $4 to prepare in your kitchen.¹

The takeaway is clear—whenever possible, prep your own food. Search the internet for recipes you love, recruit friends and family, and start creating… and saving!

Use coupons and promo codes. There are two ways to take advantage of online coupons and offers.

First, download your favorite grocery store’s app. Look for the savings section and start clipping coupons to your phone. Simply scan the app the next time you buy groceries for some potentially serious savings.

Second, install a plugin, like Honey, onto your browser. It will seek out coupons and promo codes and automatically apply them to your online purchases!

Walk and bike whenever possible. Any opportunity you have to replace your car with your feet or pedals, take it. Doing this has the potential to save you money on both gas and repairs over the long haul. Taking public transportation can also be a wise move—it’s been shown to save $10,000 per household.²

Make your own coffee at home to save money on daily expenses. Making your coffee in a traditional coffee pot can potentially save you over $1,900 annually.³ There’s nothing wrong with splurging on a coffee shop drink every now and then. But try to incorporate brewing your own coffee into your daily routine and see how it impacts your savings.

Find free entertainment. It’s not impossible! Organize a group of friends to throw a frisbee or play tag football in a park. Visit a museum with your family on a free-entry day. Go for a long walk with your partner. You might be surprised by how much fun you can have for free.

Apply these tips and let me know how much you save! What are some money saving ideas you use when you’re on a tight budget?

¹ “The True Cost Of Eating Out (And How To Save),” Amy Bergen, Money Under 30, Feb 11, 2021, https://www.moneyunder30.com/the-true-cost-of-eating-in-restaurants-and-how-to-save#:~:text=By%20contrast%2C%20the%20average%20meal,%244%20meal%20you%20prepare%20yourself.

² “Public Transportation Facts,” American Public Transportation Association, https://www.apta.com/news-publications/public-transportation-facts/#:~:text=Public%20Transportation%20Saves%20Money&text=A%20household%20can%20save%20nearly,living%20with%20one%20less%20car

³ “Here’s How Much Money You Really Save by Making Coffee at Home,” Samantha Rosen, NextAdvisor, February 3, 2021, https://time.com/nextadvisor/banking/savings/save-money-by-making-coffee-at-home/