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    sws123's Avatar
    sws123 Posts: 6, Reputation: 1
    New Member

    Sep 24, 2011, 08:33 PM
    Making do on very little
    What are some ideas for doing well when you have very little income?
    Curlyben's Avatar
    Curlyben Posts: 18,506, Reputation: 1860

    Sep 24, 2011, 11:33 PM
    Budgeting and prioritisation are the key here.
    Also being thrifty with your limited resources.

    As long as the important things, such as accommodation, utilities and food are covered then anything else is a bonus.
    There are many ways to save money on these items, especially food.
    joypulv's Avatar
    joypulv Posts: 21,593, Reputation: 2941
    current pert

    Sep 24, 2011, 11:40 PM
    I am able to live on very little, and have had to at times in my life.
    Number one on my thrift list is not eating out, and not buying coffee out. Even the best coffee at home costs about 10 cents a cup. I eat VERY well on $4 a day, and that includes non food things like TP.
    No cosmetics, no beauty shops (cut your own hair or have friends do it), no purchases that are not vital. Entertainment is friends and family, TV and internet, pets and going outside. TV and internet are expensive enough.
    No texting or picture sending or any added expenses to a phone.
    Turn out lights, don't heat unused spaces, don't wash sheets and towels constantly (isn't your towel still clean after you dry yourself with it?)
    Don't use a dryer if you can hang on a line or a rack or hangers in an open spot.
    Never buy a new car, and never buy comprehensive insurance, which isn't needed when a car is old enough.
    Use credit cards for their rewards but always pay them right before the due date, in full. Never ever ever have credit card debt.
    If you can own a home, do so. The mortgage deduction is the #1 first way to get richer, assuming you have a job and can save for a down payment, and need a deduction.
    If you rent, be really really good to your landlord. Pay on the first, keep the place in good condition, and even do minor repairs yourself, such as a broken window pane or running toilet. But keep a list of what you did so you can tell him. You should be rewarded with no rent increase.
    Be an educated consumer, of food, medical and dental problems, vets, anything. Why go to a doctor when you have the flu or an ankle sprain?
    Make your own gifts for people.
    Share expenses. Neighbors, anybody. Carpool, lawnmower, bulk purchases, the person who plows your driveways.
    Coupons. Don't clip ones you don't like or need, or fancy new products. The ones you do like. Go to their website and get good ones.
    CLOTHES: you don't need new ones! Wear what you have into the ground, shop at thrift stores and yard sales and eBay.
    The list goes on. I'm very frugal, and then I splurge on some one special treat once in a while.
    And every summer, make a huge pile of what you bought and didn't use and sell it.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,302, Reputation: 7692

    Sep 25, 2011, 04:26 AM
    I will agree with the above, I seldom drink coffee out, even at the cheaper places, I do buy some of the better brands for home, even flavoring but it is so much cheaper

    I also cut my own hair as I did all of my kids.

    As for phones, we use either Metro PCS or a brand sold at Walmart ( sorry brand, forgot your name) We get unlimited text, unlimited talk and internet for 45 dollars a month for each,

    Agree, with above, lights go out when we are not in a room, and I went and changed every light to those compact bulbs a couple of years ago, not only have I never had to replace a bulb in two years but I saw a huge jump in savings the first month we changed.

    In 40 years I have bought one new car ( and it was a lemon, my luck) I look for a good used car( and have my mechanic check it out closely) I keep my deductable on my home insurnance and car insurance high.
    And I do a lot of my own checks on the car, I keep the tires at proper pressure ( that sames gas and wear on tires) I used to even do my own oil changes, but if you watch for coupons I can get them as cheap at the station.
    I never let the oil change place do anything else, a air filter, stop by auto zone and buy one yourself for much less than they wanted, Windshield wipers, again, auto zone and they are much cheaper and will even put them on for you.

    I don't even have a credit card, ( OK I do have one, but I don't carry a balance and only use it for have to online purchase and pay it off that month.

    Budget to pay on time, save on not paying any late fee. If you have a checking acount, keep it balanced, and ever write a check if there is not money, then no over draft fees.

    Barter, trade services, I have asthma so I don't want to mow, I trade work with my next door neighbor and he mows my yard when he does his. We teach and/or tutor their son

    Coupons, agree, if the cheaper store brand is still cheaper, the coupon is not a good deal. Find out if they have double coupon days'

    Extra money in the trash, OK not for everyone, but people throw away all sorts of things, I will see things in the trash pile, at other houses, that will sell in a yard sell, I stop and get it, ** Yep I am that strange person who is taking that table, that lamp, or that TV set from in front of your house.

    Even a broken non running TV makes you about 2 or 3 buck at a yard sell, ( someone will want it for parts or to just take it apart and look)

    Salvation Army and the Goodwill are the places to shop for clothes. Some often even have new items that factories and stores donate.

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