Simple tips to help you save money on a tight budget

Most people struggle when it comes to saving money.

According to various financial institutions, about 20% of Americans have no retirement savings and about 70% have less than $1,000 in a savings account.

But the age-old question is: How do you save money when you don’t have any to save?

Here are some simple things you can do.

First, try changing your TV service if you haven’t already.

Of course there are apps like Netflix and Disney+ that are significantly cheaper than cable, but there are even apps like KSAT-TV that are completely free. Don’t forget that receiving over-the-air channels is also a free way to receive local TV.

According to the balance, another thing you can do is stop or severely limit eating out or find ways to scrape up leftovers. You can also save money by buying frozen or canned fruits, beans, and vegetables.

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Next, use cash.

Many financial experts agree that using cash really limits your spending and helps you make better decisions. If you have to give your money away, you’ll think twice about spending it more frivolously.

Food and entertainment are two categories where you can try this.

The fourth thing you can do is try to lower your credit card debt. Credit card interest rates can be a budget killer. Top money experts say to start with the card with the lowest balance first and then, when that pays off, switch the money you spend on that card to another.

Eventually you’ll be able to pay things off and put money into savings.

Finally, ask about discounts.

Whether it’s your phone bill, medical bill, or student loans, sometimes asking for help in a nice way can actually help. It never hurts to try and the worst thing they can say is “no”. But if they say yes, put what you’ve saved to good use.

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