Tips to Save Money Even When Funds Are Tight

Glass jar for saving money on a wooden table and on a gray background.

Having money in your savings account is a great way to be financially stable and healthy. It gives you some money to have on hand, in case you lose your job or your car needs to be fixed. You can use this money however you see fit, though you should use it wisely so that it is there when you need it. That being said, it can be hard to work on saving money when you are living paycheck to paycheck. However, it is possible. Here are some tips to help you save money, even when money is tight.

Track Every Penny That You Spend

When your money is tight, it is time to see where you are spending it! Grab your bank statement and look through every expense. You may notice that you grab a cup of coffee every morning on your way to work. This may cost you five to ten dollars a day, five days a week. This can really add up. You may notice that you are spending almost one hundred and fifty dollars at Walmart every week, yet you run out of food mid-week. What are you buying there every week? Are there certain things that you could cut back on?

Put This Money in Your Savings Account

Instead of buying coffee (or spending too much at Walmart), you may want to put this money in your savings account. Every penny counts when you are trying to save up. Five dollars a day, five days a week is twenty-five dollars a week or one hundred dollars a month. In a few months, you could have several hundred dollars in your savings to be used wisely. If you cut out twenty-five dollars every Walmart run, it is the same thing. Put one hundred dollars a month to better use.

Challenge Yourself to No-Spending Days

On no-spending days, don't spend a penny! This means no run for coffee on your way to work or lunch. Don't stop by the grocery store after work for a snack. Don't grab something out of the vending machine when you are at work. Once you start days when you don't spend any money, you may find yourself thinking about your purchases even more. Is it really worth hitting the grocery store for a snack, or should you put that money into your savings?

Have a Separate Savings Account

When all of your money is together in one account, you may feel like you can spend all of that money. For this reason, you should have separate savings accounts that you don't touch (except to put money into it). You should treat this account like it is really special and only use it for emergencies (which is what it should be used for).


Know what is an emergency (and when you can use your savings). Before you start your emergency fund, you should come up with what constitutes an emergency. Otherwise, you may reach for that money, even if you just need to go to the grocery store. You may only want to use this money to help pay your mortgage if money is tight or if you need extra money to fix your car or home.

Find More Tips to Save Money Even When Funds Are Tight

If you are serious about becoming more financially stable and healthy, you should find ways to save, no matter how broke you feel. If you are living paycheck to paycheck, you really need to look at where you spend your money. You may not even realize that you are wasting money on the vending machine at work! You may even want to try a day of no spending. This may show you that you really do spend more money than you should!


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