man struggling financially saving money

The 5 Best Ways to Save Money If You're Struggling Financially

Did you know that a person who has no debt and has $10 in cash on them is richer than 25% of Americans? That’s over 80 million people.

In fact, even if you have no debt, you’re likely to be paycheck to paycheck and not know the best ways to save money. You also will not be able to come up with a few hundred dollars on the spot if hit by a financial emergency – because that’s how around 60% of Americans are living.

The most upsetting thing about this state of affairs is that most people do actually make enough money to be able to set up at least a modest emergency fund (if not more). If you’re struggling, then it’s time for you to review your bank statements and figure out how to utilize your money better.

And to make it easier for you to start – here are our tried and tested 5 best ways to save money.

5 Simple Ways to Save Money

1. Let Go of Your Cable

Did you know that cable costs more than $200 for an average American household? Even if your cable doesn’t cost that much – it’s possible that you’ll be able to save close to (or more than!) $100 a month if you let go of your cable.

While it might sound a bit terrifying – cable is, after all, a very traditional and familiar part of our lives – it’s worth trying, especially considering how quickly you’d be able to fund your emergency fund (and more!) with just this one little change.

If you wish to watch a game, you’re better off doing it at a friend’s anyway. And there’s Netflix for everything else.

2. Let Go of Memberships and Subscriptions (You Don’t Use)

This might be even more painful than Netflix but you might want to consider letting go of your subscriptions and memberships (yes, even if you’re using them).

A good gym membership is certainly quite useful – but not if you’re 1) not using the gym, or using it only occasionally; 2) don’t have a fully-funded emergency fund, because that’s what your priority should be when it comes to money-saving, not to mention everything else. If you’re the type of person who uses a lot of subscription services – now’s the time to revise your spending plan.

3. Cook at Home

Possibly the least original – but one of the most useful – pieces of advice. But it’s common because it works. Most of our money is spent on food, be it groceries, takeout, restaurants, or – these days – even food subscription services.

While grocery stores are set up in a way to entice us and make us buy stuff we don’t need (cola, candy, chips, etc.), restaurants and takeout can cost much more.

Cooking at home, on the other hand, is not only good for your wallet (especially if you put yourself on a budget and stick to it) but good for your health as well.

4. Quit Smoking

A regular smoker smokes on average a pack a day (with heavy users smoking much more – sometimes double to triple that). If you’re one of them – that means you spend over $200 a week on cigarettes. This is over $10 000 a year.

And if those numbers aren’t enough to make you drop smoking – then consider this: smoking makes you an insurance hazard. A heavy smoker can expect to pay somewhere between 100% and 300% more for health insurance compared to those who don’t smoke (a number of other factors like age, health condition, etc. play a part in determining how much more you’ll be paying – but you will, no doubt, be paying more than a non-smoker).

5. Make Coffee at Home

Even if you’re unable to stop eating out entirely, even just not drinking coffee outside can help you save a couple hundred a month. Starbucks is really not worth your emergency fund.


Related content: Avoid The Next Emergency: How To Save Money


calculating car title loan amount


What Do I Do Without An Emergency Fund? Try Title Loans

If you’re hit by an emergency before the fund is in place, you might want to think about taking out a short-term loan, like an emergency title loan.

Why Title Loans?

They’re the quickest and easiest to take out. The lenders will accommodate any income and they don’t check credit scores, which means you can get approved even if your credit is bad or nonexistent.

How Do I Take Out A Title Loan?

Here is the process for applying for a title loan. It’s very simple:

  1. Go to, fill out an online form, and wait for a store representative to contact you.
  2. Take your car to the meeting.
  3. Make sure you’ve got your valid ID (to prove you’re over 18), and the car’s title (in your name and completely lien-free) with you.
  4. Let the representative assess your car and documents and provide additional information they’ll ask for.
  5. Get approved and get the cash.

These are some of the best ways to save money so you can finally have enough money for your emergency fund. With these ideas, you can start to get ahead and break out of the paycheck-to-paycheck cycle. And while you are building up your emergency fund, you can get immediate cash with a title loan.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.