21 (EASIEST) ways to save money on a tight budget

by Kritika Chamoli
easy ways to save money on tight budget

Money is probably the most controversial topic everywhere, well at least after politics but what’s more controversial is ‘How to save money?’. Money-saving should be a habit that everyone needs to inculcate in their daily lives, right from a very young age because always remember ‘MONEY SAVED IS MONEY EARNED’. But How does one do that! Well need not worry, we have got you covered. Here are the 21 easiest ways for you to save money even when you are on a tight budget.

1. Have a Plan.

Having a plan is a must-have and first & foremost step. Plan why do you want to save and what your GOAL is. It could be long-term or short-term goals like saving for your Child’s Marriage, Sponsor your Education, Buying a Laptop or Luxurious Furniture, or you are probably a broke student like me who just wants to save that extra penny from your Pocket Money.

2. Track your Expenses

Do you know where is your money actually going or like most people do you also feel that it vapors into thin air as soon as it comes into your hand? Well, that ought to be a problem. You need to get your expenditures under control as it would be nice to know where your money is going. And you never know how that unnoticed minor expense would be a pile to your Savings Plan. There are plenty of apps to track your expenses like MONEY MANAGER EXPENSE AND BUDGET or MONTHLY BUDGET PLANNER & DAILY TRACKER.

3. Compare

Never ever jump into buying something at once, use your conscience to analyze and compare the items you REQUIRE. Try to get the best deal for yourself at cheaper prices, you could easily get the same deal for few bucks lower. Now I know you would say how a few bucks are going to make a difference anyway. Well, guess what? That’s where you get wrong. You would be astonished to see the results once you start doing it. Try to apply this method in every way possible. Be it your insurance charges, buying clothes, utilities, or even groceries, etc.

4. Buy Locally!

Buy locally to cut out your household costs. We all know how much the household items cost a fortune to our pockets and it is annoying. But what we can do to have an edge over it is TRY TO BUY THINGS LOCALLY and not become a slave to brands. Local vendors sell the same thing for much cheaper prices and sometimes you end up finding gems for yourself. I honestly consider this method the most efficient to save me some bucks on my budget, you should try it out too.

5. ‘Do I really need it’ strategy?

Before buying something, make a habit of asking yourself if you really require that thing or not. What this would do is, help you figure out your priorities. And resultantly, not have you end up buying non-essentials and trust me, we can not afford reckless spending on a tight budget. Buy yourself some time to think through the requirement of the purchase and not just jump into an impulsive buy

6. Look for Discounts

If you have really made your mind about the purchase after all the evaluations then make sure to buy it at discounts. Maybe the end seasons discount sales, the stock clearance sales, Mega Sales etc to make the purchase at much cheaper rates. Additionally, look for discounted coupons and cashback offers to save money on a tight budget.

7. Learn COOKING

Cooking is a life skill that everyone needs to learn and a friendly reminder that mere learning is not going to help, You have to apply it as well. Start cooking for yourself and avoid eating out to save money. Eating out regularly can be much expensive than it seems and certainly cause havoc to your health. Therefore, prepare food for yourself and gain a new skill.

8. Avoid spending on Entertainment

Who does not love entertainment, watching movies or web shows on online platforms like Netflix, Hulu, Amazon Prime, etc? We spend our hard-earned money on these platforms and let’s be honest we end up spending unnecessarily just to keep ourselves with the Trend. Avoid falling trap to these webs and save your time and money. Withdraw your automated payments to these sites so that you do not get tricked.

9. Big NO to non- essentials

You are walking down a road and you see a nice pink dress or suit and now you are imagining yourself wearing it. The next thing you know is you bought it! for 5000 bucks!! And no lying, you are very well aware you did not need it but still, you ended up buying it. That is where you need to use your skepticism and settle with Window Shopping instead of actually buying ‘unnecessarily‘.

10. Do it yourself.

Let that creative side of yours kick in and take charge to innovate cost saving ideas. Make for yourself instead of buying. It could be a Table from discarded wood, Painting the wall yourself rather than paying to Painters, making yourself a Utility space or handmade gifts in place of expensive ones to show your love and save you the money as well because c’mon we have a budget to maintain.

11. Prepaid your Phone bills

Convert your postpaid bills to prepaid bills in order to save long phone bills. And look out for cheaper and unlimited plans to have more benefits and pay lesser as Prepaid plans are cheaper than Postpaid ones. Likewise, if you spend lesser time at home, take down your broadband connection and use your phone’s data to save you some suffering.

12. Invest

Make use of your saved money while you save more. Invest your money in different classes of assets like Gold, Stock markets, Mutual funds, Bonds, Cryptocurrencies or Bank FDs and let the Compound Interest do the Magic. And make your money grow for the goal you had made at the very first step even if your earnings are low because The real talent is not to make more money but to save the most out of what you are earning.

13. Exercise at Home

As much as possible try to avoid taking the costly gym memberships and then not even attending the program. Make your gym at home and work out by yourself. Go out for a jog in the fresh air instead of Running on a Treadmill in a closed room. Or take courses for guidance, there are a lot of free Courses on YouTube for motivation and workout plans. Moreover, there are a lot of applications on the Google play store to make your personalized plans.

14. Rent rather than Buy

Try to keep your emotions in control and to rent your apparels instead of buying for certain occasions and not be extravagant but make Rational Choices. Likewise, use the strategy not only for apparels but other things too like Renting a house, Renting jewelry, Furniture, Cars etc.

15. Take monthly challenges

Challenge yourself to save a fixed amount and gradually increase the target. Give yourself a tough competition or you could even try it with your friends to see who sticks to the challenge and who loses. Well if you are good at competition and discipline, there’s no loss for you. Neither in this challenge nor at any other challenge that life gives you.

16. Save on Electricity

Switch off your electrical appliances when not in consumption to avoid Wastage. This will not only save your bills but also make you a responsible citizen of the Country. Use low power tube lights and Bulbs, and keep your lights completely off during the day. Leave the curtains open to let that sunlight sink in. Also, Do not leave your TV opened and doublecheck before leaving home to ensure everything is closed.

17. Quit Bad Habits

Bad habits like smoking, drinking, drugs are not only injurious to your health but also dangerous to your pockets in longer and shorter terms. The addiction they cause is a blunder. Strictly avoid these habits to not let them deteriorate your health and your wealth.

18. Audit your spendings

Make a habit of conducting a proper audit of your last month’s Budget and if you spent according to what you had allocated for a certain category or are there any deviations and to what extent. Additionally, You can adopt the famous 50/30/20 ratio where 50% of your earnings get into your Needs, 30% into wants and 20% into strict savings each and every month.

19. Save on fuel

Avoid taking your vehicle everywhere and only where necessary. If your workplace is nearer to your home let’s say within 5kms distance from your home. Then you should probably carpool or maybe share rides with any of your colleagues. That way you can save your suffering on fuel. And it is going to be worth it.

20. Start splitting

Do not end up paying for the whole gang just to impress your Crush. Pay for yourself or split your bills so that everyone gets their fair share. AND the best would be to organize potlucks with your friends. Where every one of you prepares something and the restaurant bill is saved!

21. Thrifting

There are plenty of thrift stores and shops where you get clothes for very cheaper rates. Likewise with flea markets, which are getting very popular mostly amongst youngsters for their cheaper prices and relatively better quality. Do not fall after brands and BUY only WHAT YOU NEED.


To sum it up, there are plenty of ways to save money but it is only a matter of choice, if one wants to follow up or not. Now is the time to stop being a Spendthrift and save every dime possible. Believe me, you would be surprised to see the results after following these tips, only if you follow diligently. Savings are nothing but a test of your patience, dedication, self-control and most importantly, DISCIPLINE.

1 comment

Prashant May 29, 2021 - 3:26 am

Well it was a nicely written article, I am sure to save lot of money from now, so many points are here are relatable, I enjoyed whole article. Thanks for this and looking forward for more articles like this.


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