How To Save Money When You Are Broke.
There is nothing as important to your financial health as saving, and yet this sounds like a joke to people that live pay-check-by-pay-check. Sometimes life brings things that we didnt see coming ad when that happens, a saving account will be like a safety net. Here is how you can still save regardless of the fact that you may be broke.
The first step here is believing in yourself and not financial using on the amount that you are saving rather better financial habits. You can open a saving accounts that requires minimum fees of deposit requirement and taking advantage of the online savings that have lower interests, and if you deal with cash a daily change jar can also do.
While you may want to indulge sometimes, you need to be realistic with your financial situation because this is the only way that you will achieve your goals. You will need to forego expensive spending that you can do ways with like eating out, paying more rent when you can pay less when you move and even working out at home to cut of the subscriptions among many more. There are things that you need to cut back, and a no spend day or even a month if you can will help you identify these.
You should save first and then spend. There is the minimum amount that you will need between each pay check and this is something that you need to determine, and try to save as much as possible. Taking care of the credit card balances should come even before the savings because these ones can be bad for your credit and are bad for saving too.
Taking up more loans because you re broke will not help in any way and this is something therefore that you should avoid. While it is advisable not to buy clothes all together, sometimes this cannot be possible and in this case, second hand clothes and getting some from friends and family is a great way to get clothes. If your full-time job is less demanding, you can take on a side gig and there is no shame in this because so many people out there are doing it. Expensive habits like smoking are not healthy for you when you are trying to save. Being broke and saving are two things that any people never think can happen together, but taking a step back and evaluating your life can help you save a lot.