How to Live Cheap and Save Money When You Don’t Have Much, Part 4

by Lisa on October 19, 2009

  • Save your change. One way to do this is after you break a dollar, put the rest of it into a coffee can or piggy bank. Even if you’ve only paid $1.01 for something. That means $0.99 goes into you coffee can.  It can add up fast and help you to live cheap. Every penny counts.
  • Set up an automatic transfer from your checking to savings account. Have the bank save for you automatically, and then don’t touch it! And while you’re at it, make sure a portion of your direct deposit is going straight into your 401K too. No excuses. This should be part of your original budget plan.
  • Raise you car insurance deductibles. This will lower your monthly premium, but be careful. If you are prone to accidents and aren’t the safest driver, this may not be for you.
  • Do what you can or find a friend. If you can fix something, then do it. If you can’t, find someone who can do it for you, and offer a trade. Swap the skills you know for something you can’t do on your own.
  • Change your thinking. Learn to love the frugal life. Know why you are saving, and stick to it. Make it second-nature to live cheap and enjoy it. Assign values to things that you spend on, and see if it is still worth it. For example, going out to eat will be about $50. That’s equivalent to a tank of gas.  That’s one week of driving. Is it worth it? Question your purchases.

Those are just some of my tips on how to live cheap and save money. Saving money can be a difficult endeavor, but it is well worth it in the long run. Put these tips into practice now, and you’ll see the difference it makes.

{ 6 comments… read them below or add one }

Steve Chambers October 22, 2009 at 9:35 pm

Good advice, we’ll all have to live cheaply soon.

Steve Chambers, Body Language Speaker


Rob Northrup October 23, 2009 at 11:56 am

you can also have some credit cards automatically round every purchase up to the next dollar and put the change in your saving account.

Pay yourself first every month is the key. And live within your means. If people in the world can live on less than a dollar a day, we can live on our Western wages…

Seize the Day,

Simple Survival Tips For Disasters and Emergencies


Greg Dougall October 24, 2009 at 4:14 pm

My bank, Bank of America, has a feature called save the change… it places any change from my last debit card transaction and inserts that amount automatically into a savings account. Let’s see how much I have……


Greg Dougall, Philanthropist-in-Training


Jose Escalante October 25, 2009 at 1:14 am

Really cool ideas. Maybe I will raise my deductible.

Jose Escalante


Darryl Pace October 27, 2009 at 2:39 pm
Philip Graves November 2, 2009 at 10:36 am

Great advice – in fact I was thinking of starting saving for my next holiday (vacation) this way.

A big benefit of developing this habit is that you start to think about the change you’ll get from purchases, not just the item itself – it’s a real incentive to not consume or to choose the most cost-effective option.

Consumer Behaviour Expert
[The Consumer Behaviour Research Resource]


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