100% Creative ways to save money on a tight budget

100% Creative ways to save money on a tight budget9 min read

In this article, I will give you a detailed guide on the Creative ways to save money, how to save money from salary each month, and the ways to save money on a tight budget.

Saving money is a necessary evil, but it can also be a struggle. It can sometimes be hard and tough as you might have tried everything known to you but can’t seem to get around it.

While a lot of people think and say saving is easy and straightforward, not everyone has it figured out. Some people find it overwhelming and out of reach.

One of the major Creative ways to save money is to become aware of your finances, spending habits, and understanding a tight budget.

It will help you put into perspective your needs, and aids you understand your budget. Well, in order to help you on your journey to saving money each month, we have put together a list of creative ways and tips to save money.

15 Creative ways to save money

Start A Monthly Budget

If you want to save money from salary each month, a monthly budget in many ways can help you save lots of money. It enables you to keep track of how much you can afford to spend and what you spend your money on.

It also allows you to cut off unnecessary expenses and spending habits and keeps you spending on things you need. Creating a budget will help you save more money as you would ensure to include an item tagged “savings” and have money that goes directly into that “savings” every month.

In general, having a monthly budget keeps you in control of your money and focused on your financial goals.

Save Before You Spend

When you receive your paycheck, do not go on a shopping spree before you go to your “savings” or put away “saving” till the end of the month. This, most times, leaves yours with little or nothing left to save.

Putting away a certain amount of money first before you spend the rest on anything else, helps you increase your savings as well as improves your saving habit.

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The most effective way to do this is to automate your savings by paying yourself first. In this way, you secure your future and don’t get to miss the money since you don’t even notice how you save money from salary each month.

How many percent can I pay myself?

According to Money Coaches Canada, try starting with $50 each month or 1% of your paycheque. As you feel more comfortable in your ability to save, try increasing your saving rate to 3% or even 5% of your income, and build from there. As time goes on, you will keep increasing till you hit a definite mark on your monthly savings.

This is one of the major creative ways to save money on a tight budget.

Plan and Cook Your Meals

Planning your meals, a week or month ahead, helps you reduce waste, as you know what you want to eat as well as the quantity, and also what you have available. On the other hand, It helps you save because you’ll know what to buy and thus avoid impulse purchase.

Making your meals yourself saves you a lot of money as you cut down on eating outside regularly.  Imagine spending 30% of your monthly income eating outside in a cafe when you can use 10% to buy foodstuff, plan your meal, and save money each month on a tight budget.

Lower Your Energy Bill

This might sound funny, but putting off your lights and electric appliances when not in use can reduce your electric bill. Also, using energy-efficient bulbs like LEDs can also help reduce electric bills, as these bulbs use less energy and last longer than the normal incandescent bulbs.  

On the other hand, spending less time watching TV but reading self-help books will help save you more and more money because while saving money from electric bills, you also save money on TV subscriptions by cutting down on Premium subscriptions.

As for the appliances you have in your house, you can reduce the temperature on the water heater to use less energy or reduce the use of some unnecessary appliances that consume much power.

Make A Shopping List Before Shopping and Stick To It

Going shopping without a list leads to impulse buying and unnecessary expenses. Making a list before shopping and attaching prices is important as it helps you reduce unnecessary costs and keeps you from buying excess. This helps you save more money from salary each month.

In addition, much more strategic ways to save money from A Shopping List according to Bon Appetit is to:

  • Compare with other grocery stores online and offline
  • Buy in Bulk, as this will give you more discount compared to when you buy in small quantity.
  • Use a Smaller Cart or Basket – This sounds funny, but its worth it. If you want to shop less and save more money from salary each month, then you need to condition your mind on shopping less by using a small basket.
  • Always calculate the nearest estimate of your shopping list so as to know the total and go with the expected money.
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Creative ways to save money on a Tight Budget

Keep The 30-Day Rule

When you want to buy something, especially if it’s a big purchase, think about it first. Think about what it is and its cost as well as your need for it for about 30 days, and if you still want it after that then you can buy it. This ensures you buy what you really need and avoid impulse buying and waste.

This is one of the major creative ways to save money on a tight budget.

Check Your Banking

Choose your bank wisely. Look for banks that provide essential services without charging high bank fees or offer high-interest rates on savings accounts. Moreover, always understand a banking plan, before signing up to their services to avoid heartbreaking charges from unnecessary services.

Shop At Thrift Stores

At thrift stores, you can get slightly used quality clothes, accessories, electronics of the same model and style with the new ones, at lower prices and rates, as this will you save a whole lot of cash. This doesn’t mean that you don’t value expensive things, it indicates that you want to trade the less critical stuff for more value in the long term.

Sometimes, these slightly used quality clothes and accessories tend to last longer than some of the ones bought unused because these used ones have been used and confirmed well by the user but decided to be sold for specific reasons.

Creative ways to save money

Quit Alcohol and Smoking

Asides the Fact that Drinking alcohol and smoking are detrimental to health, these habits are also expensive and thus affect your budget and expenses.

According to WHO, Alcohol consumption contributes to 3 million deaths each year globally as well as to the disabilities and poor health of millions of people. Overall, harmful use of alcohol is responsible for 5.1% of the global burden of disease.

Quitting these bad habits can be one of the creative ways to save a ton of money from salary and also help you lead a healthier lifestyle.

Buy Generic Products

Buying those fancy and expensive name brand products doesn’t necessarily give you any better quality or feature, as most are the same as the usual and normal generic ones. Often, the difference is just the packaging.

Thus it’s best you check out the fancy and expensive name brand products if they are worth the money to be spent on it or you buy the usual ones to save more money on a tight budget.

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Drink More Water, Not Bottled Water.

Drinking lots of water is not only good for your health but also saves you money from salary as it reduces the likelihood of buying sodas, coffees, or other beverages which are expensive.

Also, not buying bottled water not only saves money but saves the planet because it prevents land pollution with plastics and dirt. Instead, drink filtered water at home and if possible, at the office. Get yourself an excellent water filter and a reusable bottle that is portable.

Use Public Transport

Taking a bus, or train, or other public transports can cut down on your car expenses: gas and parking. It can also save you the stress of car maintenance and also help you get exercise — for free.

Have Friends In:

Instead of going to a fancy restaurant, you can have your friends come over to your place and hangout over homemade dinner or lunch. You can also have everyone bring their food, potluck style. It saves you money while everyone has a great time. This is one of the less conventional ways to save money on a tight budget.

Repair Your Clothes, Don’t Toss Them Out

When your clothes get ripped, don’t just trash them out and get new ones, sew them up and continue rocking them. Don’t replace a cloth until it irredeemable tears. It sounds awkward right? It’s a way to save money from salary as a student who is funding for him/herself.

Lose The Gym Membership

Why pay for a gym membership if you only go once every week or maybe just weekends. There are different home workouts that cost little or nothing. Cancel that gym membership and save yourself the extra cash.

Conclusion on Creative ways to save money:

Saving is basically dependent on you realizing you need to keep up with your finances and spending habits as well as for deciding to make conscious efforts to change them.

These Creative ways to save money can be hard, but they are handy and effective, and following some or all of these ideas can save you a whole lot of cash.

Moreover, saving money doesn’t also happen overnight, you need to be patient and consistent and before you know it, you are rolling in the cash.

Awesome one, I hope this article helped. Thanks for reading this article.

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