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Budgeting on a Low Income

Guest Article
by Laraine Anne Barker

Here are a few additional money-saving tips that can help families budgeting on a low income either temporarily or permanently. Maybe you'll find a few that you can use.
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Don't keep cash in your wallet if you can help it. You'll spend less money that way.

Use your cash card, not your credit card, for all purchases. Keep careful account of how much you spend and what you spend it on.

Credit Cards

Nothing puts people into debt as easily as incorrect use of a credit card. Use your credit card only when you already have the money for the item or service you are purchasing, or at least most of it. You need to be able to pay off the debt WITHOUT PAYING ANY INTEREST. Which means the whole amount needs to be paid as soon as it's due.

If you have are not able to pay your credit card off as it comes due each month you may want to cut it up and throw it away. Or, you could put it away and just not use it again until it is paid off.


If you play the lottery ($5 a week) you could save $260 a year by choosing not to. With a 100% chance of winning!

Concerts, plays, films, movie rentals, etc, may also be off budget. Remember, if it's not necessary to survival it's something you can save money on by not doing.


Excercise for free by taking a daily walk instead of paying for a gym membership.

If you smoke make a determined effort to give it up. This may be very hard but it's well worth the trouble. You'll feel better, be healthier, and pocket a huge savings.

I do hope at least some of these tips help you. They may even lead you to some more ideas of your own to save money. Good luck with finding a better paying job (if possible), and your new budget!

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Copyright 2001 by Laraine Anne Barker. All rights reserved.

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