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

  • 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.