Smart Ways to Save Money While You are Poor

Now we all know that poverty can be a real punch in the stomach for us all. Despite there being food stamps, government assistance, free trade school training and fast food restaurants, poverty still seems to be nearly impossible to pull out of. Unfortunately it’s also very expensive to be poor. Example, if you have a bank account and a check bounces the bank will charge you overdraft fees, if you constantly eat at fast food restaurants because you can’t afford to eat organically this will hurt your health in the long run. If you are too poor to afford a decent car you will have to pay extra getting the car fixed. There’s also mental struggles and patterns you’ll have to fight with in order to get out of the poverty mindset. Saving money while poor is hard but it isn’t impossible. Here are a few ways you can save money doing tough times even if you’re poor.

Track Your Expenses

Do you know how much you spend on your groceries? How much is your light bill? Life can be pretty stressful and we often forget about how much we lose or spend. In order to save, you need to know where your money is going. Don’t forget to look over your banking statements. Keep analyzing your expenses for a month in order to get accurate information on how much you spend.

Save Water

People often overlook this one but water is one of the most important resources on our earth, we need water for almost everything including growing our food and washing ourselves. Saving water is also a great way to keep money in your pocket. A few easy ways to do this is take timed showers, don’t randomly leave the sink water running while you are brushing your teeth and maybe switch shower heads to a more water conservation one. if you are a business owner check out.

Think Before You Spend

Want to buy a house or a car? Loan agencies are everywhere, home loan purchases boise id also gives out loans but does that mean you should take out a loan when you can barely afford your monthly car payments? When you can barely afford food? Before you put that money down, or swipe that card, think to yourself do I really need this now? Couldn’t I wait until next week when I have the money to get this? Sometimes people want something so badly that they give into impulse and buy it. But you don’t have to be that person.

Make A Budget

Not just any budget, but a smart, well thought out one that you can keep up with and it doesn’t make you feel miserable. The budget must be able to sustain you and your family. It’s also important to pace yourself, sometimes you will have to make a few new changes to your budget, but that’s okay because you are only learning. Don’t expect your first budget to be perfect the first time. You could always use an app for extra help, this one is one of my personal favorites. I hope you enjoy reading this article and remember that practice makes perfect.