What To Do When You Are On A Tight Budget

Most of us have a certain budget for our daily needs and expenses. Sometimes our budget may be limited, especially if we are only earning minimum, and when we have bills to pay every month and when the prices of consumer goods and services are rising. 

If you have little money to spend because you are not earning much money, then you can also cut down on the costs of things that you are spending on. Spend your money wisely on things that you only need. If you do not need a new pair of shoes, a new pair of pants, a new pair of slippers, a new pair of glasses, a new pair of shorts, a new dress, a new shirt, a new bag or anything that you do not need at the moment, then do not head to the stores and buy the item. 

Buy the things that you need and don't buy the ones that you don't need. However, if there is an item that you think you will need in the future, and you already have the money for it, and if it might be out of stock soon, then it would be a wise decision to purchase the product. But make sure to not spend more on your next pay.

Keep your daily needs simple. The food that you eat doesn't always have to be expensive or costly. Some bread or rice, some viand cooked in your own kitchen will do. Spare the expensive meal when you have enough money to spend on it. If you want coffee, try the cheap coffee from your local grocery store. You can indulge in more expensive drinks or meals once you have the cash to do so. Use clothes or shoes that are not yet torn or worn out. Save your best dresses or clothes for events that require them. However, if it is necessary for you to dress up for an occasion, then by all means do so. Dressing up for an occasion or event is also necessary sometimes. It helps show that you also know how to appreciate good or great clothing. 

Limit the time that you spend on the more expensive restaurant or take out food. There are some who can afford daily take-outs in their favourite restaurants and pricey coffee shops. But there are others, who cannot afford these. What you can do is perhaps save money for the food that you want to eat and once you have enough, then you can go out with either your family, friends, co-workers or associate and treat yourself or yourselves to the meals that you want. You might also want to experiment at home and try cooking with the ingredients you have inside your refrigerator. Or, buy cheaper food ingredients in your local public market where, most of the time, the goods are cheaper. Once you have saved up some money for that food that you want to eat, celebrate and enjoy.

Set money aside for consumables, utility, maintenance bills like food, water, internet, phone and electricity bills. These bills usually have to be paid on a monthly basis, so, make sure to have them paid every month to keep having and using these consumables and services in your homes. If you are living with your family or siblings at home, you can split the bills together or divide the bills as you have agreed on. This will be beneficial for all the members of the home and be beneficial for everybody living in it. The cost of running the home, will not only be reliant on one person. Therefore, the burden of paying the bills will not be difficult for one person alone, if everyone pays their own share.

If you do not have a lot of money, buy cheap product brands that have good quality. There is no need for you to buy luxury goods if you want to save for other things that you want to spend on. Clothes, shoes, bags and jewellery are nice to have but they do not need to be expensive all the time. Indulging yourself with very expensive items will only hurt your budget and maybe even leave you hungry or with an empty bank account. If you have a collection of good quality clothing or bags that are still intact and not worn out, you can either sell them for a cheaper price. If you feel that you can afford to donate them to people who want them, then, by all means, do so. Instead of these things being stuck in your closet, others who need them will benefit from them.

Take public transport if you are commuting to go to work or school. This is perhaps the cheapest way to get to work or school. However, public transport fares vary from the kind of transport you wish to hitch a ride on. If there is a way for you to use the cheapest form of public transport, then by all means, use this form of transport. If not, try to use the one that you can save on. If your workplace or school is close to your home, you can also walk to work to not pay any more money to get to work, or if your a student going to school. If your destination doesn't have a lot of public transport, you can choose to carpool with your colleagues or friends that are going to the same destination and have a safe trip. Split the gas bill so that you can all save on transportation cost as well.

Ask your boss or employer if you can work from home. If he or she agrees to this, then you will be able to save on transportation cost and even on other costs like canteen meals, quick take-outs or avoid the temptation of buying food from food shops. You will also be able to save on work clothes because you can work at home with a simple shirt on, your shorts, pyjamas or your home clothes. Dress up when you need to talk to your co-workers or employer or if you need to see them in person and report to the office. This can save you money for clothing and other related expenses necessary when going to the workplace or office.

If you cannot work from home because of the nature of your job, try to find a place close to the workplace or school. A small room or a room shared with other renters can help you save on rent. Sharing a space with others is usually cheaper than having the entire place for yourself. All you need is to get your own mattress, pillows, blankets and perhaps some other accessories to help you enjoy a good night's sleep. Most of the time, rooms have their own lockers where you can keep your belongings. Keep the locker key safe and have a duplicate copy just in case you lose one. Do the same for the door key and the bathroom key if you have one.

Save some portion of your earnings for emergency expenses. Emergency expenses sometimes must be used for emergencies that happen. So, it is important to have some money saved somewhere just in case you need to use them. 

Save money for Social Security contributions. These are necessary so that you can benefit from them when you retire or when you need to make loans either for health reasons or for other purposes. Once you retire, you will get your monthly pension. You can pay the most basic amount and still get a pension when you retire.

Save money for trips that you and your family would want to have in the future. Some people like going places, so, save money for these trips and make sure to take photos of the place you went to and share them with the rest of your family or friends. Your photos or videos will help them be able to get a feel of the place that you went to, and perhaps, go there and visit these places as well when they can. 

Make wise investments. If you are planning to have your own home, condominium or flat, it is best to set aside money for these big expenses. Some of us do not have enough money to buy our own home, but there are always places where you can rent and lease for a period of time. Some people have to work two jobs to make these investments happen. Others venture into businesses that help them make extra income. These are helpful in bringing you more cash in the bank or help you make more savings to pay for the costs of your investments. 

A tight budget may be tough to handle but a lot of people get by with it. This is why if you are in one, you're not the only one in this situation. There may be others like you. Sometimes you simply need to put your money where it needs to be and be careful in the choices that you make.

Have a lovely day or night.