Cutting expenses on unnecessary things can only go so far as building your long-term savings plan. There are always unexpected expenses that come up every month, so having an emergency fund is essential.

Let’s inspect some fresh ideas and tips to save money, even if you are on a tight budget right now. Because we both know you are going to set a goal to live below your means from this point forward, right?

1. Refuse Loans And Taking On More Debt

The most important thing is not to rely on loans, even if your financial situation feels dire and impossible to get out of. In most cases, people who take on loans cannot pay them back on time.

What ends up happening is they take out another loan and eventually fall into major debt. Having loans is an open-loop that becomes very hard to get out of.

Financial institutions and banks provide tempting introductory offers, but their interest rates are so high that you will often pay twice the original purchase price of an item in the end.

You may think a better option is to borrow money from family and friends, but this usually will create issues in the relationship. Resentment can build up on both sides of the money isn’t paid back timely or if you default. For those of you that are thinking about lending money to friends and family, DON’T DO IT.

If you want to help a friend or family member gift them a cash gift, but never a loan.

You might feel ashamed of your situation and don’t want anyone else to find out about the situation you are going through. Many people have financial troubles at some point, so it’s nothing to be embarrassed about. It happens to most people who are fortunate enough to study how to budget money early in life. How many of you took budgeting 101 in school?

Noone, right?

In fact, you have credit card companies handing out credit card applications like candy in most colleges and universities.

The key is to avoid instant gratification by taking on loans and putting items on credit cards. It can be difficult when it feels like everyone else around you has the latest gadgets, gizmos and gifts, but in the long run, you’ll come out ahead if you are disciplined to your plan.

2. Use Coupons And Discount Cards

Another great way to save money is by using coupons and different discount cards. Coupons can be extremely beneficial because you don’t just buy some lower-quality products on sale. Name brand manufacturers of the product you already use provide coupons, but if you have not been a coupon user to this point, YOU MUST DEVELOP THE HABIT OF LOOKING FOR THEM.

When you use coupons, you can buy your favorite high-quality products at a lower price. You can also find diverse discount cards, available for clothes shopping.

Be sure to check the date because most coupons are valid only for a certain period. Remember, even if the discount seems tiny, added up over time you actually save money.

Choosing bigger grocery stores that have weekly promotional flyers can increase your savings dramatically.

You may find tons of coupons on the internet, in newspapers and magazines, or directly from the manufacturer. You can also ask friends and family to save coupons for you if they don’t have the intention to use them.

3. Sell Stuff Online

One of the major things people do to earn some extra money these days is to sell their stuff on the internet. It’s among the most common low-income money-saving tips.

There are many sites such as eBay or Facebook Marketplace that give you the opportunity to easily upload some pictures and start selling your things.

You can sell everything you can think of such as electronics, clothes, books, and accessories. Online shopping is popular and people are constantly searching for a good deal. Price your items right and you can sell them quickly.

If you are a stay-at-home mom, you might sell the clothes that don’t fit your children anymore and make another mom happy to buy them at a lower price.

Using Facebook Marketplace or apps such as LetGo, you can quickly sell goods locally. After you publish your free listing, people can contact you immediately.

After you’ve built up a financial cushion, you can think of starting your own business from home. After acquiring some experience in sales from free platforms, you can decide to open your own online shop.

This typically requires at least a small investment, so make sure you’re prepared to take this step financially.

4. Consider House Hacking

Have you ever considered house hacking to save money on a tight budget? It’s a common and easy way to earn cash in recent years.

One way to house hack is to rent a room out in the house you live in. Another option if you own real estate is to live on one side of a duplex or apartment and rent out the others. Make sure the rent for the other apartments covers the entire mortgage and monthly expenses.

You’re essentially living rent-free and have your housing covered by the rents you’re pulling in. It has become one of the most popular real estate investment strategies.

If you’re wondering how to find renters, you can easily bring a foreign exchange student to stay in your apartment or post your listing on Craigslist.

Consider renting other properties you have if your housing zoning allows it. For example, if you have an extra garage or a basement, you might have success renting them out short or long-term for some extra money.

There are always people looking for a new place to live or somewhere to store their belongings.

5. Find Cheap Entertainment

Nowadays, people are used to going out every night, visiting different restaurants and cafes. Others like going to movies or bars.

These places can be really expensive and if you are on a low income, you can’t afford to waste so much money on entertainment.

There is a HUGE difference between restaurant and grocery store prices. If you want a fancy meal, try cooking it yourself at home using YouTube as your online cooking school.

Instead, try to have more fun at home. You can simply invite your friends over instead of going out.

Rent a movie from your local library or have each friend bring a movie from home to watch instead of going to the theatres. Prepare some homemade popcorns and enjoy it at your apartment this time.

Once you earn more money, you will go out more often. For the moment, it’s better to stick to your savings plan.

You can still have a social life without spending extravagantly. Organize a party at home once in a while. It will be cheaper than going to a club.

Related: Free and cheap date ideas for when you’re broke.

6. Quit Or Minimize Your Habitual Purchases

Can you think of a habit or a vice that you have? Usually, you have at least one, if not multiple habits that can get cut down or eliminated.

This could include buying a breakfast sandwich on the way to work or snacks at the gas station.

One of the most expensive habits to cut is smoking or even vaping. Smoking is not only very harmful to your health but also quite expensive these days.

Imagine how much money you’d have by the end of the month if you took that money and put it in a box. You’ll be surprised at how much money you usually spend on your habitual buys!

7. Avoid Emotional Shopping

It’s a common experience for people to spend more when they become emotional or stressed out. It’s easy to blow your budget through impulsive and emotional shopping because you can’t easily estimate how much you’ve spent.

While impulse purchases may feel good at the moment, by the time you’re back home you’re even more stressed. You’ll realize you’re now completely broke and will feel guilt over your shopping.

If you feel the need to go shopping and buy something, remember to have a solid plan for spending and don’t let yourself fall into this trap. People are often regretful about unnecessary purchases they made while being emotional.

Sometimes you’re able to return the items, but other times you’re stuck with it. Always think twice before you go shopping, be tough, and don’t give in to your emotions.

Related: Additional steps to help to overcome impulse purchasing.

8. Buy Clothing From Thrift Stores

Have you ever considered shopping in second-hand shops? You may have heard the clothing isn’t as good or you wouldn’t want to wear clothes already worn by someone else.

Nowadays, this isn’t taboo, in fact, thrifted clothing is often referred to as “vintage.” Shops are well-developed and they offer only high-quality second-hand clothes.

Many resale clothing stores sell expensive, well-known name brands. Some donated clothes are brand new with tags still attached!

Once you see how many high-quality clothes you can get at super discounted prices, you’ll never go back. You will realize how much money you had spent on expensive clothes before, and how unnecessary it was.

Who is going to find out where you got your clothes from? Now, you have the opportunity to wear branded clothes at extremely low prices to save more money.

9. Earn Cash Online

Another great way to save money is to use the internet to earn some extra cash to cover your unexpected expenses. There are various ways- you can take paid surveys or you can start writing articles for money if you are good at it.

Some companies will pay you if you do different tasks or click on advertisements. But be careful, because there are thousands of online frauds as well.

They offer you a huge passive income and they never pay you. So, if you want to try an online job, research the company well.

You can start your own blog and make a profit from it if you put in the work. There are ready platforms that allow you to start in a couple of minutes.

Use the skills you currently have in order to parlay them into extra income. Teachers and educators can earn money as an online tutor.

For additional online work from home jobs, check out my list of 15+ legitimate mom jobs.

10. Cancel Gym Memberships & Exercise At Home

If you want to stay fit, you may think that a gym membership is a must. The thing is, fitness memberships are quite expensive and can cost hundreds of dollars a month.

Bodyweight exercises using minimal equipment or free workout videos from YouTube are perfect alternatives. These are new, simple ways to exercise and accomplish the same goals that going to the gym entailed.

Picking up an outdoor sport or going jogging will get you outside and enjoying nature. There are many ways to keep fit and be healthy that don’t include enormous expenses.

Money-Saving Tips Overview

There are hundreds of tips to save money on a tight budget. By being a little creative, you will be better off and have a long-term plan for your spending.

Carefully evaluate your budget and you will have no problem covering your expenses and still save some cash leftover. If you have the desire to save, your persistence will find diverse and unique ways to live on a tight budget. It’s all in your hands.

By being confident and knowing what you want, you will make your tight budget work.