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11 Ways to Save Money on a Low Income

I am an investor who has turned my life around by getting out of debt, reading books and taking courses on financial education.


There are many ways to save money on a low income. Unfortunately, many people who live on a low income actually spend more than they can afford.

The key is to be frugal and make sure that you know where your money is going. It's also important to find ways to make your savings last for longer.

If you are struggling, rest assured, you are not alone. Many people are struggling with their finances and live on a low income, but there are solutions that you can use to reduce your spending.

The good news is that most people living on a low income will be able to save money by being thrifty and learning how to save on small expenses.

Before you continue reading, you have to know that all these methods require your self discipline and commitment to be thrifty, and you must be willing to learn how to save on expenses.

If you are still here, great! It means that you are serious about getting your finances in order.

In this article, we will therefore discuss ways to save money and how to save money as a student or someone living on a low income.

Home-cooked meals are cheaper and healthier for you.

Home-cooked meals are cheaper and healthier for you.

1) Reduce Your Spending On Food

Reduce your spending on food by eating at home more often.

Food is an important part of life, and people need to eat at some point, but it’s no secret that Americans spend more than they should on food.

Plan your food budget and make sure you're not spending more than you should.

Home cooking can cost you up to 5 times less than eating out or ordering takeout. So, eating at home is one way to save money on food that is often underestimated.

My personal experience: during tough times, my wife and I survived on cheap foods like pasta, brown rice, potatoes, beans and eggs. If we made it, you can too!

2) Shop Around For The Best Deals To Save Money

Shopping around is one of the best ways to save money, but it can be difficult to find the best price on the go.

To save yourself time, use a price checker website like Google Shopping for online shopping, or apps like Basket to search all your local stores for the cheapest prices.

My personal experience: my wife and I used to get the Sunday Newspaper and would sort through all the grocery store weekly flyers. We used to highlight the best deals and shopped in several stores for them. It felt like going on a treasure hunt!

3) Use Coupons And Buy Generic Brands

Reduce your spending on food by using coupons or buying generic brands.

We all know that the process of finding coupons and then redeeming them can be time-consuming, but reducing your food budget by using coupons is a great way to save money on groceries.

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Coupons can be used to get discounts on foods that you would typically need to buy anyway.

Everyone spends too much on food. Some people spend as much as they make in a month. Getting coupons and shopping at discount stores can help prevent this problem.

It's important to be aware of the deals that are out there, and use them for the best savings possible!

My personal experience: my wife and I were professional coupon clippers. We perceived coupons as cash. Nowadays, you'll find a vast array of online stores offering digital coupons.

4) Use A Membership Plan Or Food-Delivery Service.

Also, if your store is far from where you live and you want to save on gas, consider ordering groceries online and having them delivered to your place if the delivery fee is low or free.

My personal experience: I look for grocery stores that offer free delivery if you spend a total amount. With the current pandemic, you have the option of having groceries left outside. This also means saving on face masks and hand sanitizers!

5) Buy In Bulk To Save Money

There are many ways to save money by buying in bulk. One way is to buy products in large quantities from warehouse stores like Costco, or online retailers like Kroger.

Look for items on clearance or buy them with coupons.

Your options for saving money are to find bulk items that will be used throughout the year, such as paper towels, toilet paper, cereal, etc.

However, if you're low income, you might not be able to afford the more expensive brands, but you don’t care, because that’s the reason why you are watching this video, right? To save money!

My personal experience: I like to stock on special deals on many essentials such as toilet paper, paper towel, canned goods, cereal, soap and shampoo. These can also come handy when there is inclement weather or power outages.

6) Pack Your Lunch

Pack your lunch to save money on the go!

If you're on a budget, don't worry, there are ways to save money and still eat healthy when at work. If you haven't already, consider packing your lunch.

Many people opt for eating fast food because it's quick, but not only is it more expensive, but it also has poor nutritional value!

The most important part of saving money on the go is understanding how to make healthy lunch options using left overs from home. This will save you time and money every day, while also reducing food waste.

Everyone can save money on groceries and food by incorporating strategies like these.

My personal experience: all my coworkers would head out to the closest fast food joint. They spent a long time in line and ate food that was unhealthy, while I was in the cozy lunchroom enjoying a healthy salad and some fruit.

Financial Beliefs That Keep You Poor

7) Avoid Credit Cards

Avoid credit cards and use cash instead.

With the current economic climate, the temptation to use credit cards for everyday transactions is overwhelming. However, these credit cards can have a detrimental effect on your finances by limiting your ability to manage your spending.

Credit cards are a useful tool in many people's lives, but when you're on a low income, cash is a great way to save money.

It's much easier to avoid the temptation of credit cards by using cash instead of plastic.

My personal experience: many people would be surprised when I told them I carried no credit cards. I explained to them that I like to spend money that I know I have and want to be in control of my spending, without worrying about fees.

When using cash, I also made a commitment to put all the change given back to me in a piggy bank rather than spending it.

8) Ditch The Subscriptions

Ditch the unnecessary and most expensive subscriptions.

You have probably found yourself with a lot of subscriptions. Many of these subscriptions are often unnecessary and expensive. These subscriptions can really add up at the end of the month.

So, get rid of the unnecessary and most expensive subscriptions such as costly internet plan, cable TV, paid sports channels, HBO etc.

If you don’t use much internet, you can enjoy free Wi-Fi at the library or a coffee shop.

Remember that you are trying to save money and better yourself financially, so this will give you motivation!

My personal experience: my wife and I lived without TV for a whole year. We would listen to the news through our radio and keep ourselves entertained by getting books from a library or playing card games.

9) Turn The Lights Off To Save On Energy

Turn the lights off when you leave a room to help save on electricity bill.

People are realizing the importance of energy efficiency in their homes. This is becoming a hot topic because the energy bills are getting out of hand.

Not turning off the lights can lead to a costly monthly bill.

If you're living on a low income, turning off the lights when you leave a room can save you a lot of money.

Not only does it help people on a budget, it also helps the environment by decreasing your carbon footprint.

My personal experience: turning off the lights upon leaving a room to save energy was something we had to remind ourselves every now and then, but soon it became a habit. We did see positive changes in our bills.

Public transportation can save you a lot of money.

Public transportation can save you a lot of money.

10) Use Public Transportation

Use public transportation if you live close to bus stops, subways and train stations.

Many people are turning away from driving as a means of transportation which is leading to an increase in the number of people who choose to use alternative methods of travel.

Public transportation is a great way to get around without needing a car. This can save you a lot of money on gas and parking. Not to mention, insurance, and costly maintenance and repairs.

This can be a low-cost method to travel around the area, especially if you live close to the bus or train stop.

Walking is also a great way to stay in shape and save money.

My personal experience: my wife and I often looked for jobs that were in our neighborhood. This meant we had the chance to walk, which helped us stay in shape.

11) Buy Used Items

Buy used items on websites like Ebay or Craigslist instead of buying new ones at full price.

Buying gently used items can help you save money significantly. Websites such as Craigslist and eBay offer an abundance of online listings for used items at a fraction of the price.

If you have little or no money to spend, buying second hand can be your best option for saving money.

Second-hand stores or consignment shops usually have really good deals on clothes and other items that are slightly used, but still in good condition.

Buying generic brands instead of name brands can also save you a lot of money.

My personal experience: I saved further money when I discovered that certain consignment stores offered further sales on certain days of the week or month.


With a low income, it can be hard to save money. But there are plenty of ways to save money and still live a happy life. By being thrifty, you can save more money than you think.

It is important to set goals for yourself and work towards them in order to stay motivated.

Saving money is not always easy, but it is possible if you have the right mindset.

This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.

© 2022 Alex Farris

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