What are some ways to save money when you live paycheck to paycheck???

Question

What are some ways to save money when you live paycheck to paycheck???

Answer 1

~~Keep track of every penny you spend for a month. Then go through your list and with your fixed monthly debts. Start slashing away at things you can live without. Think of  savings in doing it your self (wash own car, take lunch to work, do I need all those cable channels, etc.). From what you are able to save yourself with elimination, is now the money you will put into a savings account. It's amazing even when we are very prudent, how much unneccessary money we spend! You may enjoy this website   www.stretcher.com  It's a free newsletter you can have emailed to you with all kinds of money saving ideas. You can even submit your own. Kinda makes it more fun. Good luck!

Answer 2

be as cheap as h**l ... fight for every penny if you have kids let them do the fight.

let say you need books for somewhere you can always nag the employer so that they feel bad enough that they would give you their discount.

Answer 3

hello - here are some tips and ideas -

List out how much money you have coming in each month (paycheck, alimony, side jobs, etc.).

List out what your fixed costs are (rent/mortgage, car payment, car insurance, phone, cable, student loans, commute costs etc.) If you have credit card debt look at how much per card and which has the highest interest rates.

Then track every penny, every single one, you spend for a month. That will give you a very good idea of where your money is going. Track it by category -

retirement (401K, etc.)

home

car (payment, insurance, etc.)

gas

cable/electric/water

groceries

eating out

clothing

movies/plays (include the popcorn)

books

newspaper (if you already paid your news paper or magazine subscription, figure out the monthly cost and include that)

hanging out with friends (bar, pool etc)

non meal related drinks/snacks (Starbucks, diet coke, snacks)

other

other

(other could be alimony, whatever, things I did not list out but you have to pay)

and you will see quickly where your money is going. Then you can see if it is all the right places, or if you want to make a change and not buy so many clothes, see so many movies (or pass on the popcorn) etc. Do you need to have the car you have or is there a way to get a vehicle without a car payment?  Do you need HBO?

Consider what is really important to you and what is not and spend accordingly.

Is there anyone you can commute to work with? Or maybe a different way to get there? or even working from home one day a week? Save on gas that way. Maybe bring lunch to work? Less starbucks or sodas etc.

When you decide what you will change for the upcoming month, be sure to put that money savings somewhere and not just spend it on something else (or put it towards paying down credit card debt). And keep tracking what you spend for at least 6 months. that will help you get into new habits and patterns.

Retirement savings are very important, so if you have a 401K or the equivalent, dont stop contributing to that. I see so many questions here about stopping contributing or taking the money already saved out, dont do that. The value of the compound interest is huge.

feel free to email me for more info if you like

good luck

Answer 4

CDs, cooking home instead of eating out, stay out of bars for a while and work some OT or get a side job

Answer 5

We've been living paycheck to paycheck for years now.  We save by cutting coupons for groceries, as well as having a warehouse club membership for buying our 'staples' like chicken and beef, cheese, butter, milk, and eggs.  A lot cheaper than regular grocery stores, and our warehouse club takes coupons too!!

We also turn off lights when we're not in a room, leave our lights off during the daytime and when we're not home.  We spent the extra money to get the new eco friendly  lightbulbs.  They work great, are cool to the touch, and will help us save money on our power bills each month.

Also, make meals that will feed for several days.  Lasagna, spaghetti, and soups and stews all can last several days after making them.  The larger the meal, the less you have to cook over a few days due to the meal size.

Answer 6

I have answered this question several times. Feel free to look in my answering history (and see my "best answers").

There's no secret to saving money in my opinion. You're either willing and able or you're not. So sometimes I'm afraid to tell people things that may be too obvious.

For starters

1) Don't buy what you don't need

2) eat in, not out, but if you eat out, go for fast food, if you have to sit and dine, DON'T TIP

3) save every penny, LITERALLY, it adds up to dollars, dollars can mean a meal!

4) waste time shopping around for necessities.

5) BE CHEAP, and be proud of it, don't be ashamed when people call you cheap, stingy, greedy and selfish, you're looking out for yourself!

6) sell and share what you don't need, make good friends and it'll come back to you. Your friends will naturally share and give to you too.

7) set good examples, inspire people, don't be afraid to ask for advice, don't be afraid to be wrong

8) get your normal exercise, health and happiness is just as important as money.

9) If the above wasn't enough, e-mail be specifics and I'll try my best to help

Answer 7

you can use the same money you already have to save. You ever heard of the phrase "the rich get richer and the poor get poorer" Middle America has never been tought what they need to leverage their money its quite simple. If you want more info e-mail me