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25 Easy Ways to Save Money On A Tight Budget

easy ways to save money on a tight budget

Looking for easy ways to save money on a tight budget? Often, we overthink our relationship with money. This is especially true for single mothers.

As we face the stress of being the sole breadwinner, we might start believing that making significant progress in our financial well-being is nearly impossible. We have bills to pay, children to feed, and households to maintain. While this is all true, you have to remember that attaining success begins with making small changes. When it comes to money, these small changes produce the most significant and tangible results.

As I continue to emphasize in this blog, improving your financial health begins with outlining your goals and current resources, and creating a good budget that works for your personal situation. Once you’ve tackled that, you can start making small adjustments in your spending habits.

The following list of really easy ways to save money on a tight budget is a proven way to save more money each month. I have tried and tested these myself, and they’ve helped me optimize my financial resources as a single mom.

25 Easy Ways To Save Money on a Tight Budget:

  1. Don’t carry cash. Cash is easier to spend on little things here and there and harder to account for in your budget.
  2. Pay yourself first. Make it a habit to transfer a specific amount to your savings account every time you get paid before paying bills.
  3. Cook at home. There is a proven financial benefit to cooking more at home vs ordering food out.
  4. Eat before leaving home. When you and your kids eat well before going out and about, you will not feel the urge to spend money on food outside.
  5. Carry snacks with you. If you or kids get hungry outside, having nutritious snacks will satisfy the hunger until you get home for a full meal.
  6. Turn off those lights. Practice energy savings with your kids at home by turning off the lights when you leave the room or go out.
  7. Cut the landline. Unless you don’t have a cell phone, cut the landline and put that extra money into savings.
  8. Cut the cable. Cutting your TV cable offers a multitude of benefits, and allows you to save a significant amount of money every month.
  9. Split annual memberships. Whenever you purchase annual memberships to your local attractions, see if you can split a membership with another mom who might benefit from these savings.
  10. Get a free chequing account. This one is a must-do! See how much you can save every month with a free chequing account.
  11. Keep your savings in a TFSA or RRSPs. By keeping your savings in TFSA, you can earn interest and have your money growing tax-free. You can also reduce your annual income tax by transferring some of your savings into RRSPs every year.
  12. Check out free events to attend with your kids. Pick up a copy of city events guide or search online for free family events near you.
  13. Stop smoking. Save a lot of money by cutting this habit and model a healthy choice for your growing children.
  14. Stop drinking. Same as with smoking, alcohol is heavily taxed, so you will see substantial savings and have a healthier lifestyle.
  15. Check all your bills and receipts for accuracy. Learn how I saved $5oo this year by simply checking my bills.
  16. Negotiate your bills. Call your service providers to check for promotions, or switch to a more affordable service altogether.
  17. Get cash back when shopping online. Learn the simple strategy for saving every single time you shop online.
  18. Buy beauty services on Groupon. Read how to save big on beauty and other services in my article about Groupon.
  19. Cut your kid’s hair. Small children don’t need fancy hairstyles, and you can learn how to cut your kid’s hair yourself by watching this video.
  20. Do your own mani-pedi. Invest a bit of money in quality tools and give yourself a relaxing manicure and pedicure at home.
  21. Exercise for free instead of paying for a gym. Instead of paying a monthly fee for a nearby gym, start walking, running, or playing sports outdoors for free.
  22. Start going to the library. Save a lot of money by going to the library together with your children and borrowing as many free books as your souls desire.
  23. Invest in food preserving containers. Buying vacuum sealing food-preserving containers helped me extend the life of groceries by at least 100%.
  24. Pay off your credit card in full each month. Many people waste a lot of money on paying interest. Avoid this by budgeting how much you can spend each month, and paying off your credit card in full before the due date.
  25. Don’t browse in stores. Make a list before you go shopping for anything and stay focused on the items on your list. This will steer you away from making impulse purchases that drain your finances.

Want to share more easy ways to save money each month? Share them in the comment below and I will continue to expand this list!

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