How to Save Money When You Live Paycheck to Paycheck

Saving money feels impossible when paying bills and putting food on the table becomes a weekly struggle. It seems like Pac-Man swoops in and gobbles up all the bills the second your paycheck hits the bank. But there’s always room to save. Life happens. It's better to be prepared for those rainy days than caught in the storm. Get your savings on by making small lifestyle changes. A few tweaks can help uncover money you didn’t realize you had. Put the money toward your nest egg and leave one worry behind. Check out the simple ways you can reduce costs and save money.

Cut Unnecessary Expenses

I recently learned I’ve been spending $14/month for the past six months on subscriptions I forgot about. I haven't used the apps! This is so common. Check your bank statements monthly. Cut services you don't need, and look for any forgotten subs. Fourteen dollars seems so little, but it adds up to more than $160 per year. For those already struggling, this is substantial cash.

Side Hustles

Nearly anyone can find a side hustle or three that helps bring in more cash without taking on another job. Although devoting more time to ‘work’ may not be ideal, it’s nice to know options exist.

• Write blogs on Vocal, Medium, or other writing sites.
• Write articles for magazines, websites, and online journals.
• Websites like Upwork and Fiverr help you discover opportunities in IT, website design, editing, and more.
• Survey sites can be easy and fun if you find the right ones. Do not set expectations too high, nd you can bring in $20 or so every month.
• Become a social media content creator showing and telling the world about things you love.
• Gig work, like DoorDash, Uber Eats, and Uber, allows you to set your own hours. Delivery drivers earn an average of $20 - $25 per hour

Cash Back Apps

The cash back may not be significant enough to buy a Mercedes, but it can add up to a nice chunk of change over time. Why not take advantage of free money when it's effortless? Pick the cash back apps you want to use, sign up, and prepare to get rewarded. Upside is one of the newest apps offering incentives for gasoline purchases.

Change Your Shopping Habits

Continuing with the same shopping habits will keep you trapped in the same spot. Why not do things differently if it means you can reduce spending?

• Compare weekly ads at different grocers. Shopping at two or three stores may be worth the time and drive if the sales are right.
• Use digital coupons, paper coupons, and online-only deals.
• Check weekly sales ads for deals and shop on one-day sales. Look for reduced-priced items in-store. Reduced price items may be up to 90% off the original sticker price.

Change Your Eating Habits

It’s time to modify your eating habits if saving money is the goal. The average family of four spends roughly $1,100 to $1,600 per month on groceries.

Wowza.

Time to cut back a little bit (or, a lot, depending on how much cash you want back in your pocket).

• Choose budget-friendly meals with fewer and more affordable ingredients.
• Leftovers often taste better than the meal on the first day. Learn firsthand, and make leftovers part of your weekly menu.
• Many generic brands taste nearly identical to big brands but cost less. Don’t knock it until you try it.
• Pack your lunch. Cafeteria and fast food purchases quickly drain your budget.

Stop Your Fast Food Obsession

The Centers for Disease Control (CDC) reports that 32% of adults 20+ eat fast food regularly. That averages out to one in three people. If you’re one of those fast food fans, it's time for a change. I won’t tell you to eliminate it completely. It's easy, convenient, and sometimes necessary after a long day. But there are ways to spend less on fast food.

• Sign up for restaurant loyalty programs.
• Use coupons and digital offers.
• Choose restaurants carefully. Look for “Two Can Dine” offers or spots plating up large portions, and share a meal!
• Limit your fast food meals to once per week.

Look at it like this: the average cost of a Big Mac meal is $10. Now, imagine you’re a family of four. That’s $40 (plus tax!) to feed the family one time. If we’re being honest, the food isn’t healthy and probably not even tasty.

An at-home spaghetti meal with salad and bread costs about $3 to $4 per person, or $16 for four people. That’s $24 in savings! Home-cooked meals are healthier, taste better, and everyone gets a larger portion. If your family eats fast food once a week, eliminate that trip and save more than $100 monthly.

Make Saving Money a Habit

Whether you drop pennies into a jar each day or stick a dollar into an envelope each week, it adds up over time. Needless to say, I’m not a fan of “it’s just a penny” people. Call me what you will.

Get Quotes

Compare auto, life, health, and other insurance annually. Circumstances and criteria change. Rates may change at any time. Check rates each year. It's the best way to avoid overpaying for your coverage.

A Few Additional Useful Tips

A few other ideas that help reduce expenses:

• Social media creators know when, what, where, and why. Follow a few within the frugal living sector for useful information.
• Food banks and food pantries provide free food boxes. Each food pantry program has its own rules. Most require ID; some require proof of income. If putting food on the table is financially straining, take advantage of local resources.
• Search for the clearance section at your favorite retailers. Stores like Walmart, Walgreens, and Target offer discounts on out-of-season items, goods near expiry date, etc. The clearance section is the place to shop!

Challenge yourself to cut costs. Use the tips above to make your journey to savings less stressful and more successful.