Is it Possible to Save Money When You’re Broke?

When you’re dead broke, the concept of saving money can sound like a cruel joke. How are you supposed to save when you barely make it from paycheck to paycheck? Believe it or not, though, most people can actually save way more than they think they can. Even if you’re on a shoestring budget, there are ways you can make your money stretch.

Here are some of the top ways you can save some money even when you’re broke.

Cancel Those Subscriptions

Bust open the books and take a long, hard look at your subscriptions. Do you subscribe to some random streaming platforms that you never use? Cut them! Maybe you even have a few that you watch a couple of hours of every week. Cut those, too! There’s plenty of great, free entertainment. If you’re seriously broke and need to save money, get those extraneous expenses out of there.

Instead, consider visiting your local library. It’s totally free, and your taxes cover you. Most libraries have tons of DVDs archived for visitors. You can check out awesome books, classic movies, you name it. Maybe they won’t have the most up-to-date TV or movies, but you certainly won’t be bored.

Get a Side Hustle

The world’s a rough place, and you need cash. We get it. Try a side hustle if your main gig isn’t covering everything. Maybe you’ve got some spare time to drive for a food delivery app. You could consider babysitting or dog walking. Maybe you’ve got a lawnmower and neighbors who need their grass cut.

There are tons of side-gigs out there that can help put a little extra cash in your pocket. If you keep at these and try to save what you make, you could start to fill up a nice little savings account. Speaking of savings accounts…

Open a Savings Account

Don’t just save cash under a mattress. While this is a cute way to hold on to your savings, they don’t work for you this way. Instead, consider opening a savings account. That way, your savings will accrue you a bit of interest. It might not be a lot, but every little bit helps.

Remember, it doesn’t take much to start saving. Don’t let perfect be the enemy of good. With the right attitude, even saving a few bucks a week can go a long way. Let your money start piling up in case of emergency, and you’ll see how nice it feels to have a rainy-day fund!