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14 Ways To Save Money On Low Income

Living on a low income can suck. Feeling like you don't have enough money to do the things you want is depressing.

However, it is the often the case that you are spending more than you need to in certain areas of your life without being aware of it (for me its takeaways!)

In this article, I will give you 14 ways you can save more money on a low income.

I have divided the article into 3 levels of money saving, just for a little fun. Beginner, Pro and Hardcore!

Compare Prices Online Before You Buy

This is such a simple, yet underrated thing to do to save money. When buying something online, open up at least 5 retailers and compare the prices of the item you want to buy.

Whatever it is you're buying, make sure you are getting the best deal possible. It only takes a few minutes to compare prices, and it can potentially save you loads of money!

Check What Workplace Benefits You're Entitled To

Employers can offer their employees a wide range of benefits. From discounts on train tickets to free eye tests!

Check with your employer what they have to offer that would benefit you, there's allowances you might not know about that you could be entitled to!

In my previous job I got an allowance just because of where I lived. And in my current job I do not have to pay for an eye test, plus my employer pays for my formal accounting qualification as well. Which overall will save me over £1,000!

Become A Freebie Fanatic

There are loads of freebie websites out there that you can take advantage of. SkintDad has a regular free competition where you can win anything from a pair of headphones to a big box of chocolates!

Of course you're chances of winning are slim, but the more freebie competitions you enter, the more likely you are to win!

Spend 5 minutes a day on your lunch break entering free prize draws and you might end up winning something worth while!

You can then sell it if its something you don't really need to generate some cash :)

Haven't Used It In 6 Months? Sell It

We've all got random crap laying around the house (I have a guitar I haven't ever) so its worth having a dig around to see what you could actually sell.

You'd be surprised. There's probably at least a few hundred quid tied up in things you don't use!

Sell your stuff on eBay or Facebook Marketplace, and pocket a nice bit of money!

Workout At Home, Not The Gym

I know there's a social aspect to hitting the gym. But if you can do without that, it's worth cancelling your subscription and working out at home.

Gym equipment is something that lasts for years so whilst you'll be spending more initially, over time its cheaper to workout at home.

Plus going for a run outside is free, although a little chillier in the winter!

Drive Sensibly And Only When You Need To

Whenever I hear about someone driving to the shops which is only a 5 minute walk, it makes me cringe.

It's bad for your wallet, bad for your health, and bad for the environment.

So if you're someone who does small trips in the car, its time to cut them out and start walking. It'll save you money and is better for your health.

And don't treat the road like a racetrack either. Brake early, accelerate gently, look after your car and your bank account will thank you for it!

Bundle Your TV/Broadband

It can sometimes be cheaper to bundle your TV & broadband together with one provider, rather than pay for separate services.

I'm with BT and I get all the sports channels including the Sky Sports ones, as well as broadband. At the time I think it was a few quid cheaper to get their bundle rather than buying Sky TV separately. Prices can change so make sure you always check when your contract is up!

Use price comparison sites such as to work out if you can get a cheaper deal elsewhere!

Another benefit of bundling is that all your bills are merged into one, so it's less admin for you!

Cut Down On The Booze!

Cutting down on booze sounds like being a party pooper, but if you're serious about saving money it is worth thinking about!

I don't need to tell you drinking in a pub or bar is expensive, so if you can cut back even one pint on an average night out it could save you quite a lot over a year with minimal effort!

Remember, you don't need to get wasted to have a good time! Unless you're boring! ;)

Learn How To Negotiate

Negotiating is an important life skill that is under utilised by almost everyone (including me).

When you are buying something where the price could be negotiated (insurance, TV/broadband, second hand items etc.) its important to at least try to haggle your way to a lower price.

For example when your car insurance comes up for renewal use a comparison site to find the cheapest deal. Then instead of switching to the new insurer right away, phone your current one and ask them to better the cheapest price you found.

Insurers don't want to lose customers so they may at least match the price, in which case you've saved yourself the hassle of switching!

And if they didn't budge they weren't worth staying with anyway.

Use Cashback Websites or Loyalty Schemes

I think Cashback is my favourite money discovery of 2021. In 2020 it was passive investing, 2021 it was cashback...I wonder what's in store next year?

If you're an avid online shopper and not using cashback sites such as TopCashback and Quidco then you are seriously missing out!

Cashback sites pay you back a percentage of your purchase if you visit the retailer website through the cashback website. TopCashback has a browser extension which means you don't have to open up their site every time you want to buy something online (I haven't checked to see if Quidco have one yet). Instead a little box pops up to tell you if the retailer you are buying from offers cashback with them. If they do you just click the button and carry on!

This is a great way to get some extra money back into your pocket. It comes in very handy over the Christmas period!

The 1p Challenge

I first discovered the 1p method on SkintDad.

The 1p method is a pretty simple concept. You save 1p today, then 2p tomorrow, then 3p the next day etc. If you did that every day for a year you'd save £660.

However its not particularly practical, because you'd end up trying to save more money over Christmas if you started at the beginning of the year. So it might be better to do in reverse order (£3.65 today, £3.64 tomorrow etc.)

The maximum you would save in one day is £3.65, which is not a lot. So it's a very easy way to save up quite a bit of money on a low income!

Take Cold Showers

Yes, really.

If you want to be truly hardcore, you've got to start taking cold showers.

Cold showers every other day or so will help you save money on your heating bills.

Not only that but cold showers are also amazing for your overall health. They emit a hormetic stress response in your body which is very uncomfortable but it ultimately leads to better impulse control (so less impulsive spending too! :)). It also decreases the effects of aging and strengthens your immune system.

I learnt about the science of cold showers from Wim Hof, aka The Iceman. He's crazy but there is method in his madness!

A 30 second cold shower a day keeps the doctor away, and also reduces your heating bill.

Become Self-Sustainable

You may not identify yourself as green-fingered or a master brewer, but self sustainability can save you a lot of money.

Growing your own vegetables costs you very little money. Even if you use an allotment, its still cheaper than buying fresh veg every week.

If there are no allotments in your area and you don't have any green space at home, then brewing your own beer is another option that pretty much anyone can do!

You can make your own beer for less than 50p a pint, which is TEN times cheaper than buying a pint down the pub! Plus you get to make it exactly how you like it!

Not only can you save money by making and drinking your own beer, you could maybe sell some to your buddies or colleagues and start your own side business!

Treat Yourself To Something Nice Once A Week

This sounds counter-intuitive, but that's why it is a hardcore tip!

Buying ourselves something nice is an act of self-love, and can be a reward for all of the hard work we're putting in to save money. Just don't overdo it!

The most important trait you need to have to save money effectively is awareness, especially on a low income where the implications of your spending can be greater. We all need to indulge from time to time, but try not to go overboard and undo the hard work you've already been putting in!


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