Tips To Successfully Live on a Tight Budget

by Bievienea Harry

10 Tips to “Successfully” Live on a Tight Budget

Most of us do not like talking about money. Money induces anxiety; consuming your thinking, getting in the way of your relationships, and holds you back from doing activities that reflect your values.

Living on a tight budget is a difficult task; many have tried to successfully create a budget only to have it fall apart. I had to examine my habits and take ownership of my actions unlike when I was a Starbucks addict, used to go out at least twice a week, and frequent movie theaters.

Surprisingly, making wiser financial choices can make your life comfortable and enjoyable. You cannot however just sit on the sidelines and hope your money habits will straighten out as time goes by, you have to put in hard work and persistence. You have to plan for every dollar you earn and struggle for a better financial future daily.

With the right attitude and few good tips, living on a tight budget could become a life-enriching experience. Check out the tips to successfully live within your budget:

Save Before Spending

Lack of savings is probably the main reason you are living on a budget in the first place, it should, therefore, be your priority. Dedicate 10-20% of your income into a savings account before spending any of it.

Create a Budget

Creating a budget is the easiest part of living on a budget. From your monthly income, deduct your normal constant monthly bills, rent, and utilities.

Work Together with your Spouse

If you are married, you need to work with your spouse to successfully live on a budget. One person handling finances is unhealthy and will lead to financial struggles in your house. You, therefore, need to dream together, set goals together and honestly speak with each other.

Set Achievable Goals

Don’t let your dreams be dreams! If you cannot achieve your financial goals, then you are dreaming. Your financial goals should inspire greatness and drive you forward. Things are tight on a budget and setting unachievable, boring goals will only waste your efforts.

Stop Using Credit Cards

Credit cards will worsen your financial position. Instead of using credit cards, use your debit cards to make purchases. You will be saving on interest and you can easily track your spending when you log in to your account.

Eliminate your Debt

Most of us have student loans, car loans, credit card balances, or mortgages. These loans are the major contributors to your financial woes, getting rid of them plays a big role in your budget success.

Challenge Yourself to Live on Even less

The biggest secret to living on a budget is to live on even less. Do not feel like the budget is restricting your life, the aim is for you to control your finances and not to be controlled by your budget. If you treat the budget as a challenge and believe you can even go further and minimize your spending, you will be surprised how easy and addicting living on a budget can be.

Know the Difference Between Necessities and Wants

Set the differences between your essentials and your desires. We need to eat, that doesn’t mean we eat a filet mignon with fresh steamed vegetables and a nice glass of white wine!

Cut the Cable

Cable drains your energy time and money. Why spend money on cable only to watch political ads, loud commercials, and repeated news stories? On average, Americans watch an average of 7 hours of television per day. Imagine what you could do with an extra 7 hours a day – start a blog? You can make good money from this than spending on cable.

Find Ways to Make Extra Money

When living on a budget you have to be creative and find other sources of income. Market your skills and passions and make a few extra dollars every month. Having an extra job is no shame if it helps make ends meet.


There are countless ways to successfully live an amazingly comfortable lifestyle on a budget. Choose what is workable for you and set goals, and focus on the positives. Your budget should motivate you to continue making adjustments to make your life easier. Regularly review your progress along your financial journey and you will realize your sacrifices are worth more in the long run.