How To Save Money Fast With A Low Income

How To Save Money Fast With A Low Income

In today’s post I am going to give you a guide on how to save money fast with a low income. If you find this post helpful then consider sending it to a friend that would also benefit.

Create A Budget

You are going to see this step in a lot of the post that I write because it’s one of the main thing to master. If you are not making enough money to save and spend without worries then you need to create a budget. I highly suggest that you download the app called Mint. You are able to set limits with spending your money on gas, eating out, etc. If you go over the spending budget, it will notify you. The app also will give you weekly summaries on how much you spend.

This has helped me a so much that I have developed a habit of staying in green for how much I plan to spend a month. If you don’t like downloading apps to automate everything than you can search on google for infographics on budget outlines for you to print out and follow.

Another good thing to do when changing your spending habits is to play the waiting game. In other words, the 48 hour rule. If there is something that you really want to buy then wait 48 hours and see if the item is still desired. I know that battling our wants can be extremely hard, but you need to also think about the money you’re saving 5-6 months ahead.

If you really want to follow the blog title for real then to save money as fast as you can then that involves spending none of your earnings. I mean yes of course you have to think about necessary things like bills, but everything else should be cut out completely until you hit your savings goal. I will tell you right now that it doesn’t matter about the income you are making. being discipline and sticking to a budget will help you hit any savings goal that you have.

Advice From Others

Below is advice from users of Reddit. I input others ideas and thoughts on topics because multiple perspectives will help shape your understanding.

Tip #1

Be creative on what you eat. Rice and beans can be boring, but if you change it up in small ways like hit sauce, different beans, cheese, or even just some inexpensive veggies. Be prepared to finish processing things as well. Don’t buy already cut veggies, see a roast on sale in the discount section – take it home and cut into stew pieces, steak, or stir fry pieces. A lit of cost goes into the processing of things that can easily be done at home.

Just stay focused. Save like no one else, so you can live like no one else.

Tip #2

Dave Ramsey is the king of financial boot camp., r/daveramsey. He has one of the most popular radio shows and podcasts in America, and has written multiple best-selling books. The Total Money Makeover is the place to start. Your local library probably has half-a-dozen copies.

Ramsey’s plan is called the Baby Steps — 7 simple steps to plan, budget, pay off debt and start building wealth. You work on one step at a time, focusing 100% on it until you’re finished and ready to move on. The plan has been so successful for 20 (edit – 20 years) because it’s about changing behavior. In our heads, we all know what to do — most of us already have the knowledge. The weakness and failure comes from our habits. Ramsey teaches people how to change their habits. It’s all very encouraging and positive.

This next advice has a great list to follow when it comes to budgeting your money

Tip #3 from u/mothmanex 

want to gather the best tips/tricks/Lifehacks out there to save money, so far I have some simple ones…


  1. Go to Work/School with a Thermos
  2. Live below 10% of your means and you’ll always feel rich. (thanks to dronabinol)
  3. If getting anual raise, save the difference of the raise and stay with the same salary. (Thanks to crazybee)
  4. Want to get your PC fix? Use google, most problems are already somewhere with a solution.
  5. If you see a few shows on TV(cable) change to netflix/hulu (thanks to StrangeScreams)
  6. Prepare lunch for Work/School
  7. Distinguishing Between Wants and Needs
  8. Pay on Time
  9. Cook a couple big meals in bulk, eat them over a month (Thanks to cwm44)
  10. Make your own meals instead of going to a restaurant (Thanks to kyleisweird)
  11. Ask nicely for upgrads on under-booked hotels or airplanes, they might upgrade you for free(thanks to iamsookiestackhouse)
  12. Do not get on addictions like smoking (Thanks plecdeparte)
  13. Don’t upgrade if you somehow win more money than before (thanks to ellrjay)
  14. When travelling, either sleep on a hostel or your car. (thanks to brmj)
  15. Use your foot or bike instead of your car when going somewhere near. (Thanks to MagicTarPitRide)
  16. Use the Dishwasher until is full (thanks to apriloneil)
  17. Get your self knowledge to save money (computers, car repair, carpentry, gardening, etc) (thanks to tropicofpracer)

Long Term

  1. Create a Budget
  2. Carry a checkbook register, write down every cent you spend for a month, this will help you see what you can take off. (thanks to fatmalcontent)
  3. Don’t ignore recurring costs (Thanks Aea)
  4. Get rid of Big Debts
  5. Save money for a Emergency Fund (never know when we will need it)
  6. Don’t take out a loan on a vehicle…. UNLESS it is at an interest rate lower than inflation and you have the money in the bank to cover it. (Thanks cheddarben)


  1. Buy used things instead of new things, most of the time they are on great condition (thanks to inkathebadger)
  2. Get the Sunday papers, it’s chock full of coupon booklets (thanks to zerbey)
  3. Get a basic badger hair brush and soap cup and start using solid soap style shaving cream. After the initial investment, the soap is like 99 cents and last for months. (Thanks to logicfix)
  4. Research what you want to buy (best brand and prices)
  5. Don’t hire people to pack your shit, put it in a truck and drive it somewhere when you have to move. (Thanks to BlackLeatherRain)
  6. Buy used cars, if bought new, they devaluate quite fast.
  7. Price Compare (different stores, websites)
  8. Write to companies, they might send you free products or coupons(thanks to iamsookiestackhouse)
  9. Search for online deals or coupons (Thanks Senesino)
  10. Never buy something unless you have sufficient cash or debit balance (Thanks lbgator)
  11. Wait a week to purchase something out of the ordinary, decide if you really need it (Thanks Aea)

I hope that you found this blog post useful and don’t forget to send it to a friend that will also benefit. Thanks for Supporting The Finance Starter and check out other post that I’ve written below.