Are you still struggling to save money with your current salary? It is not easy to save money with low income but you can do it.
At some point in my life, I couldn’t save money because it was difficult to do it. My expenses were always more than my income but I had to start very small.
with time increase my monthly saving amount and one thing that helped was saving before spending. I also thought my husband this method.
Read this article to learn how to stop impulse buying
In this blog post, we would go through the different ways we can save money with low income.
Table of Contents
How to Save Money with Low Income
I was able to save money as a high school student. And from the little money my mum would give me to buy snacks in school.
I was able to do this because my mum prepares my lunch. So, I have that already with the money she gives to me to buy snacks.
I split the money into two, I saved half and use half to get anything I want during school hours.
And at the end of the term, I would use the money I saved to buy anything I want. It was fun doing that then.
But as an adult, is it still fun saving when we have so many things to buy, I would still say, Yes!!
So how do we save with our low income
How to save money with low income
1.Avoid Fast Food
Sometimes this can be easy to get. But it won’t last long in your stomach, for me, that’s how it is.
If you want to save and live healthy avoid fast food. You can cook a meal that would last two days with the same amount you use in eating one lunch meal from buying fast food. So, if you want to save avoid fast food.
2.Master The 30-Day Money Rule
How does the 30 days rule work? This is how it works. If you see an item you want to buy or because it’s a new product and the marketing system always makes you see it all the time.
You hold on to the thoughts of buying it for 30 days, most times you end up not buying the item.
4.Use Savings App That Allows Automatic Saving For Your Money
I love this one, using the automatic savings app would help you save. If you want to start saving I would advise you to start small, very small and you build the amount as you keep on saving.
5.Save Before Spending
To save on low income, you have to learn the habit of saving before spending. Like how on earth would somebody learn this? Some of you might be asking that.
But this is your saviour to saving if you want to save on low income, you have to save before spending. You can’t save after spending, you would still have expenses that you need to settle so my best advice is to save before spending.
6.Build the habit of saving
Finally, we are here. We should learn to build the habit of saving, nothing good comes easy. So building the habit of saving daily would make us forget asking the question if we should save or not.
It’s just like brushing your teeth, do you ask if you should brush your teeth or not, NO, you don’t because it’s a compulsory habit now.
To build a habit, it takes time. So, we should start small when building the habit of saving to get comfortable with saving and increase your saving amount as time goes on.
