How to Save Money Fast On a Low-Income


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Are you trying to meet demands but having challenges from your low earnings. You also want to save but you don’t know how to save money fast on a low-income. One of the fastest ways to do this is by creating a budget, but they are other ways too.

Saving money is very important and every income earner delights to engage in the act, if not for anything, then for emergencies.


However, the problem lies on how to save money fast while on a meager earnings.  Why does this pose a problem? If you know how to apply the techniques then it should not be a problem.

If you are one of the low income earners and wondering how this could be possible. Then in this article you would learn the various ways to save money fast on a low income.

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1. Save the much or little you can.

Savings on a low income is usually a personal intention on how much you are willing to set aside. Since the earnings are low you might not make it a specific amount because you also need to satisfy other needs.

The most important thing is to save something which may be 5% or 10% of your earnings depending on your choice. You can cultivate the habit of saving the much or little you can at an early stage of your income. Gradually, it will get into your habit and you could become acquainted to it.

2. Create a budget

Creating a budget is a great way of planning how to manage your income before making expenses.  With budget you will be able to save and also have a good record of what you did with your income.

You could set out a certain amount from your low income and vow to use it for expenses without exceeding the amount. If you are determined you could be sure to reach it.

Creating a budget could help you save money fast on a low income if you follow this formula.

Since you already know your monthly income, you need to be creative. First, imagine what you intend to spend on.

Look around and sort out those things that are more demanding and prioritize them.

Lastly pick a pen and list out all the items you want to purchase and other bills to pay.

Include in your list how much you would save. At the end if there is any balance then you can keep it for emergency or miscellaneous.  

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3. Cut unnecessary expenses

While trying to save on a low income you can avoid making expenses on some less important items. These items can be less demanding and perhaps may have a substitute.

You can still cut down on the more demanding expenses by leveraging on cheaper brands. Sometimes these expenses might come once in a while. For instance you might chose not to renew your wardrobe for a certain month.

Again you might chose not to purchase some groceries and still have enough to feed on. You can cut down unnecessary items and save the balance fast.    

4. Shop smart

You can take advantage of promos, coupon sales and online shopping. Most of the online sales can give discount when you buy in bulk. Hence, it is also advisable that you buy your items in bulk; this can save you some money too.

Again, to save on your low income always compare prices of goods and make wise choice that can help you to save.  This does not mean you should buy inferior goods but you can find upcoming brands that produce quality products.


Take advantage of the upcoming brands who are trying to gain relevance in the market space.  Finally, before you set out to shop do not forget to make a determined list of your expenses.   

5. Explore second income stream

Living on a low income can be very difficult. A lot of people who pass through this situation face so many challenges. Ranging from not being able to assist in family needs, not being able to reach out to a friend in need and more.

Even if you try to save from a low income at present as time goes you might become weary of the situation. Again the financial economy might start depreciating and you might not be able to coup.

Therefore it is important you explore a second income stream. A passive income can help you save fast on a low income and you won’t feel the impact. You can find a side hustle like freelancing, steward, Gardener, teaching, storekeeper and more. Another means of income can help boast your low income and you will be able to save fast.

6. Take advantage free public utility

In some states and geographical areas, some basic amenities like water, transport, electricity and schools are free. You can take advantage of this opportunity and save the cost.

Some organization and firms also provide this to their employers and they can save from the cost. However, if you are not opportune to have any free government services within your location, you can still look around for one. Water and transport are usually a free service in some areas.  

7. Reduce energy usage

There are many things that can consume energy in the home. For instance energy cooker, laundry machine, heavy gadgets and more, you need to reduce their usage. Turn off lights when leaving the room and switch off any appliances that are not in use.

To save cost further you can do a manual laundry; use a gas cooker instead of electricity. Cutting down on your energy cost is another way to save money fast on a low income. 

8. Cook at home

Eating out is more expensive and a great way of increasing expenses. You can manage your low earnings if you plan on buying your groceries and drinks and have them prepared at home. You not only save cost but you stand a chance of managing your personal finance and gaining control over it.  

For instance you might spend $10 in an eatery on daily basis in a month you might be spending $300. With this same amount if you try cooking your meals you will save a lot from it.

9. Sell unused items

Selling unused or fairly used items that are no longer needed but are still valuable can help you save a great deal. You can sell it online on face book marketplace or eBay or any known ecommerce site.

You may also choose to sell it at any visible market near you. The money from the sold unused item can be used to solve your needs while you gain the opportunity of saving from your income. An example of unused or fairly used item could be an electronic, books, new clothes and shoes and more.

10. Engage in a saving money challenge

Conducting a saving money challenge is a great way an individual with low earnings can save very fast. Among the various methods available, the 52 week money challenge and the no spend challenge can be a great way to save while on a low income.

The first methods simple needs that you set aside some certain amount of money each week for some specific period. You can decided to make it one year depending on your ability.

While the no-spend-challenge is a method of avoiding to spend on non-important items or things for the period you wish. Within these periods you can be able to save from your low earnings.   


Income is referred as money that comes into an individual’s possession and the rightful owner. It may be a salary or revenue from a business or investment. When this income arrives to an individual on a scanty level we refer it as low income.

Generally, every income earner would always strive to save some thing at the arrival of every pay-check. Individuals or household who lives on low income usually experience threat to basic amenities, therefore, it poses a challenge to save and save fast. 

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