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Tips on How to Save Without Earning More

Times are tough now. We all have to hustle to attain financial freedom and independence. Saving is one effective way of ensuring financial stability. But, saving can be difficult especially for those who are already living on a limited budget. Here are tips and tricks on how to save money even without earning more. 

Make a budget and follow it

The most effective way to save is to spend less. To do this, you have to make a budget and strictly follow it. Remember to take note of all your expenses and set aside a budget for emergencies like hospitalization. Stick to this budget at all times and make adjustments accordingly. 

Track your expenses

Another way to spend less is to track every expense you make. List down all items your purchase. By doing so, you will have a better idea of where your money is going. You can then cut certain purchases that you think are unnecessary. Also, there are a lot of free mobiles apps you can use.

Settle your debts

By paying off your debts, you can save money. Your debts and loans, like the ones on your credit card, can incur a large amount of interest. Hence, settling these debts means saving the money that you could have spent in paying interest. This means too that as much as you can, do not borrow from lending institutions with high-interest rates.

Create a savings account

Putting your savings in a savings account can help you save money because it restricts you from accessing your money easily like regular accounts. A savings account can also provide you with higher interest rates than a regular account.

The savings that you put in this account should consist of the difference after you have paid your regular expenses, taxes, and emergency spending. All of the remaining money should go directly to the savings account so that you would not be tempted to spend it on your wants.

Identify regular expenses

For you to budget money easier, you have to identify regular expenses like monthly groceries, communication bills, home bills, transportation expenses, and a lot more. This will help give you a sense of essential and nonessential spending

Minimize unplanned expenses

When trying to save, do not spend on something that is not part of your budget. Only set aside a small portion for unplanned expenses. Also, prioritize food, medicine, and other essential items. Meanwhile, try to spend less on clothing, entertainment, recreation, and other unnecessary stuff. 

Unplanned expenses that constitute emergency spending should have a specific allocated percentage from your total money. It should also be placed in an account that is easily accessible in case the situation requires it.


Saving money can be easily done when you have the patience and put in the effort to make it happen. A middle-class income is sufficient to establish savings. If you do not have the time or capacity to get side jobs and other sources of income, your main livelihood can suffice.