How to save money fast

How to Save Money Fast on a Low Income

Want to learn how to save money fast on a low Income?. Saving money is easy when you have more than a six-figure income. But what if you have less?

If you have a minimum average income, it may be difficult to save money for things like retirement, emergency fund, cars, college, or anything else.

But with creativity, diligence, and determination, it is still possible! Here are some tips that may help you save even on a low and limited income:

1. Examine Housing Cost

Most of the time, it is difficult to save money because of the housing costs that take a huge portion of your budget. Sometimes, these housing costs cover 25% of your take-home pay.

If you have your own home, try to reevaluate your mortgage rates on a lower amount so that you can free up some money and maybe can be put into savings.

Check your utility bills and keep it low. Be vigilant on using lights, water, and thermostat so that such bills won’t be charged that much. If you are renting a house or apartment, it is better to have a roommate and split the cost in order to save more

You can also negotiate with your landlords to do some extra work so that rental fee can be reduced. The money you can save can be put directly into any kind of savings.

2. Have an Automatic Saving

No matter how low your income is, it is important to have an automated savings account. This account automatically deducts a specified portion of your salary.

3. Avoid Credit Cards

Most studies show that using credit cards make you poor. The interest rates and annual fees will take a lot of money from you. So the best way to spend is to use cash only.

4. Plan Out Your Shopping

Never do an impulsive buying or shopping. Buy only what is necessary. It may be tempting to go to the malls and buy anything that attracts you.

The best way to spend when you have a limited income is to plan what items you will buy and stick strongly with that plan. Use a piece of paper or checklist and buy only what is written on that list.

When shopping, buy items that could last a month so you won’t have to go to supermarkets now and then. With that, you can have less time going to stores and be less tempted to go shopping.

5. Ride a Bike or Walk

Using your car to work can damage your budget. Gas prices continually go higher. So it is best to walk and ride a walk. Not only it can save you money on gas, but it can also give your body a healthy exercise to get rid of that fatty parts!

6. Get a Thermostat That is Programmable

Another way to save money is to buy a programmable thermostat for heating and cooling. This can save you big time on energy and money.

A basic model only costs around $40. A programmable thermostat automatically adjusts the temperature depending on your home’s ambiance.

With this, you don’t have to manually control thermostat since programmable ones can sense if you are away from home and it can do a lot more efficient job of controlling temperature.

Some thermostat may be pricey but the energy it can cut off is, in the long run, is quite big, thus making it a good investment.

7. Buy Used (Preloved) Stuff

You can save a lot of money when you buy used stuff such as cars, furniture, electronics, and clothing. You’ll be amazed at the great deals you can have when buying stuff that has been used.

You may want to check on eBay for some items that can’t be sold because of broken packaging or damaged, but all brand new! There are yard sales available on items like cars, clothing, and shoes at Goodwill.

You can also save money by investing in a cheap sewing machine and making your own clothes. This way, you’ll have clothes for years to come without spending much.

8. Avoid Restaurants and Plan Your Meals

Food is one of the best stress reliever and hobby but as much as possible, avoid going out to restaurants and do not make them a regulate hobby. Food in restaurants is very expensive compared to homemade meals.

If you are serious about saving money, invite your friends to potluck during weekends and enjoin them to bring different dishes. Aside from the bonding, it can save you a good amount of money when having homemade dishes.

On a daily basis, you can plan your daily meals using planning apps for meals. If you have a meal plan, it would be easier for you to decide ahead what you want to eat, saving a lot more time and money on that grocery list since you have already planned ahead of time.

9. Find a Side Hustle

Having one job can give you less income. Try to find other ways to earn aside from your regular job.

10. Cut Out Cable TV

One of the most common suggestions on saving money is to get rid of cable tv subscriptions. It can save you money on cable bills. There are many broadcast channels for free and good programs available.

When you avoid cable tv, you can have more time on other important activities such as part-time jobs or use your time for learning new things that are beneficial to you.

11. Use Free Coupons

When buying groceries and other necessities, use coupons so you can save a large amount of money. There are stores that give you double coupons when you shop at their stores and give discount cards on their products.


There are plenty of ways in order to save money. If you are serious about doing so, it is important to make it a priority and be creative. Diligence is the key to save even on a low income.

You can use any of the tips above mentioned. The most important is to stick to them and do it on long-term. Savings can be a lifesaver for future needs.


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