Living on a tight budget and barely getting by? Here are ten low income money tips that can make a huge impact on your personal finances.Improving your financial situation while living on a low income is not easy. It’s hard. Like, really hard. But it can be done.

Just a few years ago I was categorized as low income, especially considering I was providing for myself and two kids. Even though I was low income I still managed to avoid consumer debt and even build an emergency fund.

These are the tips that helped me the most.

# 1 – Track Your Expenses

When you’re living on a low income you normally don’t have much extra money left at the end of the month. If you’re trying to avoid debt, save money and adopt overall better money management skills, you need to track your expenses.

While it can feel a bit burdensome to track every single expense it’s crucial if you’re trying to save money. You can use a spreadsheet, sheet of paper or make it easier on yourself and use an app like Personal Capital or Mint.

# 2 – Find Low Cost Living

The biggest budget category is hands down, housing. Your housing costs can make or break you.

If your housing is currently more than 50% of your total take-home income you need to look for a less expensive place to live.

# 3 – Avoid High Interest Debt

High interest debt will rob you of your future income. While it’s best to stay out of debt altogether, you need to avoid high interest debt like the plague.

This means no credit cards, payday loans, furniture loans, etc.

# 4 – Build an Emergency Fund

Your emergency fund is what’s going to help bring you and your family financial stability. It will protect you in the event your car breaks down, you lose your job, have to make a costly home repair or any other catastrophic event.

Shoot to save 3-6 months’ worth of your income in an emergency fund (the more the better.) Here’s how I saved $10,000 on a low income.

# 5 – Negotiate Your Bills

Everything is negotiable. When you’re living on a tight budget you should try and negotiate all of your expenses.

# 6 – Buy Secondhand

Buying secondhand is one of the best ways to save money and potentially get higher quality items. For instance I buy all of my clothes from ThredUp (an online consignment shop) and I get way higher quality clothes than I would if I bought brand new from the mall.

The next time you need to buy something new see if you can find what you’re looking for secondhand first. Check out consignment shops (both online and in person,) Craigslist, Facebook, Freecycle, etc.

# 7 – Lower Your Food Costs

Food can easily come in as the second highest monthly cost after housing. While you’re living on a low income you need to get your food budget under control if you haven’t already.

To save money on food plan out your meals, avoid eating out and limit the amount of shopping you do.

# 8 – Keep Your Credit High

At some point or another you may want to take out a loan to buy a house or a car. To get the best rate you’re going to need a good credit score.

Keeping your credit score high is simple (here’s a step-by-step breakdown.) Simply pay your bills on time, keep your debt low and avoid applying for new credit to keep your score in good standing.

# 9 – Get Help When You Need It

If you’re really struggling to cover basic living expenses then look into getting some temporary government assistance. You can get help with everything from housing to food, if you qualify.

Look at assistance as a temporary support while you work on building financial stability.

# 10 – Look for Ways to Earn More

The biggest thing you can for your finances is earn more money. It can be hard to save money and provide financial stability on a low income. Luckily, there are many things you can to improve your situation.

Consider completing some type of certificate program or education to further your career, switching jobs altogether, starting a side business or finding an online job that pays more than you currently earn.

Earning more money isn’t something that generally happens fast but can make the biggest difference in your finances.

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