How to save money that I earn when it is little or limited?
Whether you are a student living with your parents or a parent, I am sure you often ask yourself, How can I save more money each month?
And yes, you can save money every month regardless of what you are earning and often you don't even have to make any sacrifices, just optimize your expenses.
Of course you can! Of course it is possible! Everything starts from two fundamental premises: responsibility and order.
Based on these two principles, I have designed this article to show you how to save money on a low salary.
Learn how you can save money every month with the following tips.
7 tricks on how to save money every month with a low or lower salary than desired
How to save money? Having a low-paying job is not an impediment to saving money month after month and building up a financial cushion.
With these 7 tricks you will see how you can save money every month even if you have a low salary or less than you would like.
Increase your income by selling what you DON'T need
If you have items that you no longer use, they may be the starting point for other people to buy something they really need.
This could be the answer to how to save money in a short time, since buying and selling goods that you no longer use will allow you to earn extra money.
If you are a student, you will have books, clothes or perhaps electronic equipment that just take up space in your room, but do not provide any utility. Anything you do not use can be sold and you can get a small income from it.
Plan your money inflows and outflows a surefire trick for saving
Measuring and recording your income as well as your expenses is the best way to save money in the long term . It is necessary to know your expenses and income in order to save money.
The most important tool of this trick: the personal budget , with which you can organize your family budget. It will help you clearly understand the best way to manage yourself. Although there is no possibility that two months will be the same, you must manage money as best as possible, so that money is not a problem for you.
Saving starts with services
This is one of the best tricks on how to save money month after month, especially if you don't know how to save money no matter what your salary is .
In recent times, we have observed how service rates have increased dramatically.
However, there is a "light at the end of the tunnel" and it is possible to save, with limited resources, even if the costs of services are high.
The electricity, water and gas bills, and to a lesser extent mobile phone bills and other minor services, may leave your bank balance in a critical situation.
The first thing you should do here is look at the rates you are charging, as you can usually always negotiate a better rate. These companies offer new deals to attract new customers every month and if you threaten to move to another company they will give you very good discounts.
Another thing you can do is see which elements in your home consume the most energy and whether they can be replaced with a product that consumes less energy. If you have light bulbs that use too much electricity, then you can change to LED bulbs. You will see that your electricity bill will decrease substantially and they will last much longer than conventional ones.
Smart electronic devices (home automation) are also a way to save money. An example of such devices are smart thermostats.
Set aside a percentage and save it
By knowing how to save through a budget and improving the performance of services inside and outside the home, you can increase the savings percentage of your income.
One way to save money quickly is to save a percentage of your salary. It can be 10%, 20%; whatever you can afford.
How can I know what percentage to set aside for savings? A great way to do this is to create a budget of everything you earn and spend. This way, you can keep your money under control.
Work a second job
How can I save more money from my salary ? By getting a second job that allows you to increase your income, even slightly. And yes, that may mean that you work more, but the point here is that you try to earn an extra income with some hobby that you can monetize in some way.
If you are passionate about something, you are most likely an expert at it and can therefore share that knowledge through a blog or on YouTube and get paid for it. I know several examples of successful people who started out this way, including myself.
Leisure is free, keep it that way
How can you save money each month on leisure activities, when many of them are expensive?
It doesn't mean you're an automaton, it means that the permanence of money in your pocket must prevail.
The trick to achieving this is simple: keep your leisure activities as low as possible. Do you want to go out? It's better to go to a museum or go hiking in the countryside or mountains.
Do you like movies? The cinema is a good option, but not on weekends. If you have time during the week, you will have incredible prices for that same movie you want to see.
Paid subscriptions? Delete them!
If you are a fan of subscription services, don't hesitate to delete them. Paying for something you don't use is a waste of money that you may later need for other purposes. You may even be one of those who don't make the most of them when you pay for them. An example is subscription television services (Netflix, Disney+, HBO, among others).
In my case, I pay for Netflix and I don't even use it most months. It's true that it's a small amount of money compared to other expenses, but it all adds up to savings.
How to save money as a young person in Spain (18 to 45 years old)
How to save money when you are young? There are several ways to do it.
Youth is the age when we can all consider ourselves efficient and compulsive spenders. However, if financial resources are scarce, you must learn to manage them in the best possible way.
Not everything has to be an expense. A good education, in addition to values, morals and ethics, should teach you how to use your money, and how to save it for the future.
How to save money when you are young? You can start by investing in index funds, for example.
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How to save money as a student, with very little money and effectively
These tips on how to save money quickly as a student will help you spend less and plan better.
First of all, you must control emotions, like impulses, efficiently.
No matter how much you earn or receive, when there is more money you want to spend more, but you will still have the same financial problems. Try to save money in everything possible, including transportation. If you can walk, do so. Not only will you not spend money on transportation, but you will improve your health.
If you have a car and you have to travel to your place of study or work, help others and share the cost of fuel.
Another powerful trick is to try to pay in cash and not use credit. It is very tempting to buy something with a credit card, but then you will have to pay with interest.
How to save money on groceries in 2025
If you want to save money on food purchases this year of runaway inflation, turn to white label brands . The only difference between a white label and a well-known brand is the price, believe me. The big brands spend a very high amount of money on marketing campaigns and that means they have to raise their prices to stay on top of costs.
How to save money on gas in 2025
If you want to save money on gas, the first thing you should do is avoid traffic jams at all costs. If, for example, you work in the city centre or in a big city, compare the prices of public transport with your current gas usage from Monday to Friday.
Would it be cheaper for you to use public transportation?
And in any case, if for convenience or time reasons you prefer to use your own vehicle, try to delay leaving the office to avoid rush hour and drive well, so as not to rev the car unnecessarily in low gears.
If you want to save money when refueling, do it preferably on Mondays, when it is cheapest (Saturday and Sunday are the worst days).
Empty your car of things you don't need to transport. Every 100 kg of additional weight represents a 6% increase in consumption.
Also, don't forget to keep your car in top condition: check your tires, perform inspections, change components according to the manufacturer's instructions and drive smoothly and at a uniform speed.
How to save money while on vacation?
If you're wondering how to save money while on vacation, here are some tips:
- Adapt your vacation to your budget. If you can't afford to go to the end of the world, domestic tourism is an excellent option; and it's cheaper.
- Try to request vacations in the low season
- There are many activities that can be done with family, partner and friends outdoors: going on excursions, going to the beach, having a picnic, etc.
- Read the guide on How to save money on All inclusive Resort vacations
Other frequently asked questions about saving money each month
What percentage of salary should be saved?
You need to budget your finances if you want to achieve this goal. This is the best way to get the most accurate answer to that percentage.
However, if you are thinking about major future life projects, such as saving money to buy a house, I recommend that this percentage be maintained or evaluated at all times.
How to distribute the salary and in what percentage?
There are many ways to distribute your monthly salary, particularly when it is low, while complying with the rules for equitable distribution.
The important thing is that you distribute your money well between priorities, non-essential expenses and that these leave a margin for savings.
There are stricter rules such as 70 20 10, that is, in percentages, the first for needs (essential expenses), the second for investments and the third for saving every month.
This rule tells you how to save money and invest at the same time.
The last two percentages are considered savings because, although it is recommended that you dedicate 20% to investment, it must produce long-term results.
It is essential to remember that investing is also saving, but it is saving for the future.
What is 50 30 20?
This is a rule on how to save money each month and it is also simple.
The 50 30 20 rule is the formula for saving money effectively and with greater acceptance in order to save with a vision for the future.
The numbers refer to percentages that are divided as follows:
- 50% should represent the amount of your salary to cover all priorities (food, utility bills, rent or mortgage, transportation).
- 30% for other needs (not so important), even a treat. Although there is also some future investment in mind.
- 20% to save. That is, if you earn 1000, it represents 200.
In conclusion, I hope this article has provided you with the necessary knowledge to know how to save money, you just have to manage and control your expenses and income.
It is important that you keep a balance of your personal finances.
I hope you enjoyed reading these tips on how to save money, especially if you are on a low income, and that you get the results you want.
