Connect with us

Hi, what are you looking for?

Your Money Magic

Save Money

How to Live Well off a Low Income

how you can live better on a low income.

It is unfortunate that while hundreds of people have too much money to spend on unnecessary items or things they don’t really need or require, the other half of the world is living on a low income and trying to make ends meet. Though it seems difficult living well off a low income, it is not impossible.

There are some suggestions given below which might help you better manage your finances. They will help you to avoid getting into many troubles or debts.

  1. Budgeting

The first and most important thing to do is make a budget and figure out how much to spend and on what. Keep aside money for payments of bills, groceries and foods, and other necessary expenses.

Find out where you are spending unnecessarily and cut down on that expenditure.

  1. Prioritize

If you can differentiate between your needs and your wants, then half your problem is solved. You will not be spending money on things that you do not need, and as a result, you will be able to have saved, if not much, maybe a little.

If you don’t have the actual need to buy something, then simply don’t.

  1. Save Money

I know it sounds absurd. How can you save money when you are living on such a low salary? But believe me, there are various ways that you can adopt to save a little.

For example, save on electric bills or your petrol or water spending. Figure out what else you can do to reduce expenses, and you are ready to save.

  1. Do It Yourself

A large number of expenses can be avoided if you learn to do things yourself. Simple repairs and fixes can always be done by you as well as the daily housework. Doing your work yourself is better than paying somebody else to do it for you. Take the time out and save money in doing so.

  1. Cook at Home

Making meals at home instead of ordering or going out to eat is one of the best ways to save money. Take your own homemade lunch to your workplace, carry your own coffee in a thermos and your own water bottle. This way you will be saving daily the money that you would otherwise have spent on buying lunch, coffee, and water from your office canteen.

  1. Let Go of Bad Habits

Habits like smoking or drinking make you lose a lot of money which could be better spent on either food or education. If you can’t altogether quit, then do try to cut down on what you spend on cigarettes and alcohol.

  1. Look for Sales and Discount Offers

Pay attention to and look for offers or discounts. Buy in bulk or from discount stores. Dollar shops and second-hand stores are also alternative options. The less you spend, the more you save.

Give up on buying expensive perfumes or clothes, makeup, and shoes. When you learn how to curb your desires, then giving up on these things won’t seem hard.

Advertisement. Scroll to continue reading.

Final Thoughts on Living Well with Low Income

Take control of your money and your expenses and live a little more comfortable life by following the tips above. Change your lifestyle and habits that are stopping you from enjoying your low-income life.

Plan ahead of the month, make the budget, prioritize, and keep track of your spendings. In addition, you can invest your savings somewhere safe. You can also (if you have the time and energy) work extra hours or find a part-time job.

Finally, stay healthy and avoid getting into debt, and most important of all, do not compare yourself with people who earn more than you.

Written By

Riley is a finance, lifestyle, and entertainment writer living in San Diego. He received his bachelor's degree in Journalism and Multimedia from the University of Oregon. His work has been featured in many finance and lifestyle publications throughout the US. When he is not writing, Riley enjoys reading and hanging out at the beach with his dog.


You May Also Like


You have probably seen movies like The Blind Side, where a homeless black teen had trouble with the school system but ended up becoming...

We don’t plan too much for our financial futures when we are young. Usually, we spend frivolously and rack up credit card debt while...


Everyone has dreams of getting rich. Whether it’s through the scratch-off ticket, you buy every weekend hoping it’s a winner or that six-figure salary...

Credit Cards

Sometimes you’re in a pinch, and you need to make some quick cash. Luckily, you don’t have to sell your kidney on the black...

Jobs & Career

The Korean entertainment industry is booming in 2020. Due to the onset of streaming services, more people worldwide started to become more interested in...

Credit Cards

Members of the Teamsters Union are eligible to apply for the Teamster Credit Card, which offers various benefits, grants, and rebates. With this card,...


You might have already heard about the concept of building your own house instead of buying one since it is a much more practical...

Credit Cards

The Legacy Visa Credit Card is a credit card provided by the First National Bank. Plenty of people aiming to get a credit card...