Are you looking for tips on how to save money when you’re broke? Are you struggling to make ends meet? Are you finding it difficult to save money? If so, don’t worry – you’re not alone.
Millions of people around the world are struggling with the same issue. In this blog post, we will discuss 58 ways that you can save money when you’re broke.
We will cover a wide range of topics, including how to reduce your expenses, how to make money on the side, and how to get out of debt.
So whether you’re just starting out on your financial journey or you’ve been struggling for years, read on for some helpful tips!
Pin it 😎
General Tips on How to Save Money When You’re Broke!
Reducing your expenses is a great place to start when you’re trying to save money. There are a number of ways that you can do this, such as cutting back on non-essential items, eating out less often, and comparison shopping.
If you can reduce your monthly expenses by even a small amount, it will make it much easier to save money.
Making money on the side is another great way to save money when you’re broke. There are a number of ways that you can do this, such as freelancing, starting a side hustle, or investing in passive income opportunities.
If you can make even a few extra dollars each month, it will add up over time and help you reach your financial goals.
Finally, getting out of debt is another important step to take when you’re trying to save money. If you’re carrying a balance on your credit cards or have other types of high-interest debt, it can be difficult to save money each month.
By paying off your debt, you’ll free up more money each month to save or invest.
There are a number of other ways on how you can save money when you’re broke, but these are some of the most effective.
If you implement even a few of these tips, you’ll be well on your way to reaching your financial goals. So what are you waiting for? Get started today!
We all know how tough it can be to save money.
But what if you’re broke?
Saving money when you don’t have much (or any) is even tougher.
If you’re in this boat, don’t despair. There are still plenty of ways to save money, even when you’re broke.
Here are 58 Tips On How To Save Money When You’re Broke:
How to save money when you’re broke #1. Reduce your expenses.
This is the most obvious way to save money, but it’s also the most effective. If you can cut back on your monthly expenses, you’ll free up more money to save.
You can do this by cutting back on non-essential items, eating out less often, and comparison shopping.
How to save money when you’re broke #2. Make money on the side.
Another great tip on how to save money when you’re broke is by making a little extra money each month, it will go a long way towards helping you reach your financial goals.
There are a number of ways to do this, such as freelancing, starting a side hustle, or investing in passive income opportunities.
How to save money when you’re broke #3. Get out of debt.
If you’re carrying a balance on your credit cards or have other types of high-interest debt, it can be difficult to save money each month. By paying off your debt, you’ll free up more money each month to save or invest.
How to save money when you’re broke #4. Start a budget.
This is a must-do great tip on how to save money when you’re broke. This may seem like a no-brainer, but many people don’t actually have a budget.
If you don’t have a budget, now is the time to start one. Having a budget will help you track your spending and make it easier to save money each month.
How to save money when you’re broke #5. Save automatically.
If you’re having trouble saving money each month, set up automatic transfers into your savings account. This way, you’ll never even see the money and you’ll be less tempted to spend it.
How to save money when you’re broke #6. Cut up your credit cards.
Another great tip on how to save money when you’re broke is to chop up your credit cards into pieces! This may seem like a drastic measure, but it can be very effective.
If you’re constantly spending money on your credit cards, it’s time to cut them up and live within your means.
How to save money when you’re broke #7. Live below your means.
Everyone who is looking for ways on how to save money when you’re broke should do this. This is doable with a bit of effort! This is similar to reducing your expenses, but it’s a bit more extreme.
If you want to save money, you need to be willing to live below your means. This may mean downsizing your home, getting rid of your car, or making other lifestyle changes.
How to save money when you’re broke #8. Find cheaper alternatives.
This is another great tip on how to save money when you’re broke! There are often cheaper alternatives to the things you’re currently spending money on.
For example, you may be able to find a cheaper cell phone plan, switch to a less expensive car insurance company, or get a cheaper gym membership.
How to save money when you’re broke #9. Eat out less often.
Eating out is one of the most common ways people spend money unnecessarily. If you’re trying to save money, cut back on how often you eat out.
You may be surprised how much money you can save by cooking at home more often.
How to save money when you’re broke #10. Buy in bulk.
Another great tip on how to save money when you’re broke is buying in bulk. Buying in bulk can often save you money in the long run.
If you know you’ll use something eventually, it’s often cheaper to buy it in bulk now than it is to buy it later.
How to save money when you’re broke #11. Shop around for better deals.
Whenever you’re about to make a major purchase, be sure to shop around for the best deal. You may be able to find a better price by doing a little research.
How to save money when you’re broke #12. Do your own repairs.
Another great tip on how to save money when you’re broke is to fix your repairs if you can. There are many resources online that can help you with your fixes such as youtube videos.
If something breaks, don’t automatically assume you need to hire someone to fix it. Many times, you can do the repair yourself and save yourself some money.
How to save money when you’re broke #13. Barter for goods and services.
If you’re not interested in spending money, see if there’s anything you can barter for instead. You may be surprised how many people are willing to trade goods or services for something else.
How to save money when you’re broke #14. Get rid of unnecessary items.
For an easy quick tip on how to save money when you’re broke, simply get rid of unnecessary items. Take a look around your home and get rid of anything you don’t really need.
The less stuff you have, the less money you’ll spend on things like storage, moving, and repairs.
How to save money when you’re broke #15. Downsize your home.
If you’re looking to save money, downsizing your home is a great option. You’ll save money on things like utilities, maintenance, and repairs. Plus, you’ll have less stuff to take care of overall.
How to save money when you’re broke #16. Get rid of your car.
If you live in a city, you may be able to get by without a car. This will save you money on things like gas, insurance, and repairs.
How to save money when you’re broke #17. Find free entertainment.
There are plenty of ways to have fun without spending any money. Get creative and see what you can come up with.
How to save money when you’re broke #18. Have a Garage sale.
Another great tip on how to save money when you’re broke is to have a garage sale. If you have a lot of stuff that you don’t need, have a garage sale and make some money while you’re at it.
More Reading – Garage Sale Hacks
How to save money when you’re broke #19. Take advantage of freebies.
Another great tip on how to save money when you’re broke is to look for freebies. There are a lot of things out there that are free if you know where to look.
For example, you may be able to find free samples, coupons, or other discounts.
How to save money when you’re broke #20. Look for deals and discounts.
Whenever you’re shopping for anything, be sure to look for deals and discounts. You may be able to save a lot of money by taking advantage of sales and promotions.
How to save money when you’re broke #21. Avoid impulse purchases.
It’s easy to spend money on things you don’t really need if you’re not careful. Whenever you’re about to make a purchase, ask yourself if it’s something you really need. If not, put it back and save your money.
How to save money when you’re broke #22. Save your change.
Another great tip on how to save money when you’re broke is to save your change. Whenever you have spare change, put it in a jar and save it up. You may be surprised how much money you can save this way.
More Reading – How to Save $10,000 in 6 Months
How to save money when you’re broke #24. Invest in yourself.
One of the best ways to save money is to invest in yourself. This may include things like taking classes, learning new skills, or investing in your health.
How to save money when you’re broke #25. Create a savings plan.
A must-do if you are looking for tips on how to save money when you’re broke is to create a savings plan. Make sure you have a plan for how you’re going to save your money.
Decide how much you want to save and how you’re going to save it. Then, make it a priority to stick to your plan.
How to save money when you’re broke #26. Save for retirement.
It’s never too early to start saving for retirement. The sooner you start, the more money you’ll have in the long run.
How to save money when you’re broke #27. Have an emergency fund.
Another great tip on how to save money when you’re broke is to have an emergency fund. If something unexpected comes up, it’s helpful to have an emergency fund to fall back on.
This way, you won’t have to put yourself in debt just to cover unexpected expenses.
How to save money when you’re broke #28. Invest in a good coffee maker.
If you’re a coffee-lover, investing in a good coffee maker can save you a lot of money in the long run. You’ll be able to make your own coffee at home instead of spending money at a cafe.
How to save money when you’re broke #29. Make your own cleaning products.
You can save a lot of money by making your own cleaning products at home. There are plenty of recipes online that you can use.
How to save money when you’re broke #30. Grow your own food.
If you have the space, growing your own food can save you a lot of money. You’ll be able to get fresh produce without having to pay for it at the store.
How to save money when you’re broke #31. Compare prices before you buy.
Always comparing prices when you buy is another great tip on how to save money when you’re broke. Whenever you’re shopping for anything, be sure to compare prices before you buy.
You may be able to find the same item for less money at a different store.
How to save money when you’re broke #32. Use cash instead of credit.
Another great tip on how to save money when you’re broke is to, If you can, use cash instead of credit when you’re making purchases. This will help you avoid debt and save money in the long run.
How to save money when you’re broke #33. Don’t shop when you’re hungry.
It’s easy to spend too much money when you’re shopping on an empty stomach. If you can, eat something before you go shopping so that you’re not as tempted to buy things you don’t need.
How to save money when you’re broke #34. Plan your meals in advance.
If you know what you’re going to be eating for the week, it’ll be easier to stick to your budget. Make a list of the meals you want to make and how much each one will cost.
How to save money when you’re broke #35. Cook at home instead of eating out.
Eating out can be expensive, so try to cook at home as much as possible. You’ll save money and you’ll be able to control what goes into your food.
How to save money when you’re broke #36. Make your own snacks.
If you’re looking for a snack, try to make it yourself instead of buying it. This will usually be cheaper and healthier.
How to save money when you’re broke #37. Cancel unused subscriptions.
If you have any subscriptions that you’re not using, cancel them! This includes things like magazine subscriptions, gym memberships, and more.
How to save money when you’re broke #38. Borrow instead of buying.
If you need something, see if you can borrow it from a friend instead of buying it. This goes for things like books, movies, and more.
How to save money when you’re broke #39. Sell things you don’t use.
If you have any items that you don’t use, sell them! You can sell them online on sites like ebay or at a garage sale.
More Reading – Things to Rent Out for Profit
How to save money when you’re broke #40. Use coupons.
When you’re grocery shopping, be sure to use any coupons you have. This can help you save a lot of money on your groceries.
How to save money when you’re broke #41. Buy generic brands.
Instead of buying name-brand items, try to buy the generic brand instead. This is usually much cheaper and just as good.
How to save money when you’re broke #42. Walk or bike instead of drive.
With gas prices so high this is another great tip on how to save money when you’re broke. If you can, walk or bike to your destination instead of driving.
This will save you money on gas and it’s good for the environment.
How to save money when you’re broke #43. Take public transportation.
If you live in a city, try taking public transportation instead of driving. This can be cheaper and it’s usually more convenient.
#44. Carpool.
If you have to drive, see if you can carpool with someone. This will help you save on gas and it’ll be more fun than driving alone.
#45. Turn off the lights.
When you’re not using a room, be sure to turn off the lights. This will help you save on your electricity bill.
#46. Unplug appliances when you’re not using them.
If you have any appliances that are plugged in but not in use, unplug them. This will help you save on your electricity bill.
#47. Do a home energy audit.
Doing a home energy audit can help you find ways to save money on your energy bills. You may be surprised at how much money you can save.
#48. Get a programmable thermostat.
A programmable thermostat can help you save money on your energy bills by making sure your home is only heated or cooled when you need it to be.
#49. Replace incandescent bulbs with CFLs.
Replacing your incandescent bulbs with CFLs can help you save money on your energy bills. CFLs use less energy and they last longer, so you’ll save money in the long run.
#50. Install solar panels.
If you’re looking for a long-term investment, consider installing solar panels. This can help you save a lot of money on your energy bills over time.
#51. Use a clothesline.
Instead of using your dryer, try hanging your clothes up to dry. This will save you money on your energy bills and it’s better for the environment.
#52. Wash your clothes in cold water.
Washing your clothes in cold water can help you save money on your energy bills. It’s also better for your clothes, so they’ll last longer.
#53. Hang curtains or blinds.
Hanging curtains or blinds can help you save money on your energy bills by keeping the heat in or out, depending on the season.
#54. Seal your windows and doors.
Sealing your windows and doors can help you save money on your energy bills by making sure that the heat or air conditioning doesn’t escape from your home.
#55. Insulate your home.
Adding insulation to your home can help you save money on your energy bills by keeping the heat in or out, depending on the season.
#56. Replace old appliances with energy-efficient models.
Replacing your old appliances with energy-efficient models can help you save money on your energy bills. Energy-efficient appliances use less energy and they often have rebates or tax credits available.
#57. Invest in solar cookers.
If you’re looking for a long-term investment, consider getting a solar cooker. Solar cookers use the sun’s energy to cook food, so they’re very efficient.
#58. Use a pressure cooker.
Using a pressure cooker can help you save money on your energy bills because it cooks food faster than other methods.
Conclusion: How to Save Money When You’re Broke
There are many ways to save money when you’re broke. Some of the best ways include taking public transportation, carpooling, turning off the lights, unplugging appliances, doing a home energy audit, and getting a programmable thermostat.
By following these tips, you can save money on your monthly expenses and make your money go further.
Over To You
Do you have any tips on how to save money when you’re broke? What are some of your favorite ways to save money? Let us know! Share your comments below!
Latest Articles
- Why is Personal Finance Dependent Upon Your Behavior?
- Hosting an Online Garage Sale: Go from Clutter to Cash now
- 11+Cheap(or Free) things to do in retirement: Do more with less!
- Coast FIRE: Path to Financial Independence with Less Sacrifice
- Cash Stuffing Method: The Ultimate Financial Hack You Need to Know
About the Author
Don is a father, real estate investor, self-directed investor and a personal finance enthusiast. He also holds an MBA and loves to share his financial Journey with others.