8 Ways To Save Money On A Tight Budget
No matter how tight your budget is, you still need to save cash – at least for a simple emergency fund. While it seems like a difficult task, it doesn’t actually have to be that hard – if you have the right tips in hand. With the right tips – even if it takes a little time and work – you could see your finances start to grow. Here are 8 ways to save money on a tight budget and when to get a payday loan.
1. Cut Cable
A staple among ways to save money on a tight budget, cutting cable has been saving American families cash for a long time now. There is no way around it, cable is expensive. And when you want to add special packages, it gets even more expensive.
Depending on your cable service, you could save up to $200 if you decide to get rid of it. And with so many streaming services available for a lot less, you could keep watching your favorite shows while pocketing the extra cash.
2. Cut Monthly Subscriptions And Premium Apps
If you don’t have cable, chances are you’ve replaced it with a subscription service. Having one is fine, having more is not advisable. While subscription services are cheaper than cable, if you have more than one, the price will start to add up.
Leave the service you use the most often – likely Netflix or Disney+ – and cut the rest. Do the same with premium apps and memberships – the most oft-used ones stay, the rest need to go. Cutting these subscriptions and premium apps is a great way to save money on a tight budget.
3. Thrift Shop
One of the best ways to save money on a tight budget is to buy used items. Not only will thrifting save you money on clothes, but on utensils, jewelry, books, toys, etc., you could literally find anything you need at a thrift shop.
Do check out thrift stores in your area to have an idea about where the best selections are. You will actually be pretty surprised with what you could find at your local thrift shops.
4. Cook At Home
Another mainstay among ways to save money on a tight budget is to cut down on takeout and eating out. Eating out at restaurants and fast food places can quickly eat at your budget – especially if you make a habit of it.
Instead, cook at home and cook in bulk. It will save you not only money but time as well. Plus cooking your own meals can help you with any health goals you may have.
5. Buy Generics Instead Of Name Brands
When you switch from eating out to cooking at home, you’ll find your grocery budget swelling. While it will still be less than what eating at cafes/restaurants would cost you, if you’re smart you could save even more money.
The first step is to find the cheapest place to shop – for those trying to save it’s usually Aldi and Lidl. Even Walmart can be a great place to find food that isn’t pricey but is still good quality.
The second is to buy generics instead of name brands as often as you can. While in certain cases it may not work, sometimes you might find generics better than popular name brands.
6. Bulk In Buy
Another popular option among ways to save money on a tight budget is to bulk buy and stock up. Especially when things are on sale. Just be careful not to overdo it.
The best things to bulk buy, even without sales, are non-perishable items for the pantry, paper items, and cleaning items you use in everyday life like toilet paper, detergent, and so on. It is also a good idea to buy comparatively expensive food items – like meat – for the freezer.
7. Drop A Bad Habit
Not an oft-found option on these types of lists, but it’s worth looking into when you want to save money on a tight budget. Our habits can really affect our finances in not-so-positive ways.
For example, quitting smoking could not only save you up to $200 a month but also get you better health insurance – especially as you get older. Did you know that insurance companies are legally allowed to charge smokers up to 50% more for health insurance? Cutting that bad habit could save you a ton!
8. Automate Your Savings
In the end, this the most efficient among the ways to save money on a tight budget. Take a “salary cut” and have a set amount from your paycheck automatically deposit into your savings account when you get your paycheck.
Even if we’re talking about just 2-3% of your paycheck, it will help you form a habit and gradually increase the amount when you start implementing other ways to save money on a tight budget.
Why Is Saving Money So Important?
It might seem like seeking ways to save money on a tight budget is all about deprivation – but having an emergency fund is worth it.
Even if you’re always on top of your bills, without savings you’re always one step away from going into a money hole.
Being hit by an emergency isn’t something you can deliberately avoid, and without an emergency fund, you will have to seek other avenues to get cash together. Like taking on a payday loan if your problem is time-sensitive.
What Makes A Payday Loan An Optimal Option In An Emergency?
Payday loans are a great option because they are both accessible and fast when you come to Mississippi Title Loans. A payday loan bridges the gap between pay periods when you are suddenly hit with an emergency expense.
You can apply for a payday loan even if your credit score is bad or outright nonexistent, as long as you’re over 18 and have some sort of income. Plus, we make sure you know whether you’ve been approved quickly; there is no reason why you should wait days just to find out if you’ve been approved.
The entire process lasts around 30 minutes on average and you usually get the money you qualify for the same day – enabling you to deal with the emergency as soon as possible.
How Do I Apply For A Payday Loan?
Applying for a payday loan in Mississippi is simple. Just follow this guide for more information:
- Get the required items in order. You’ll need your government-issued ID, your most recent pay stub, and a blank check from an active checking account in your name;
- Go to the website and fill the online form;
- Answer when the loan representative gets in touch with you to provide further instructions;
- Take the required items to the meeting the loan representative will set up at one of our Mississippi payday loans places;
- During the meeting, let them assess everything to determine if you qualify for the loan;
- If you get approved, sign the loan agreement and get the cash!
When it comes to finding ways to save money on a tight budget, it takes time and work. But once you find the right tips, it makes actually saving money easier to do. Just remember these tips when you want to save more money.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.