Tips for Saving Money (Even When Money Is Tight) | Cleveland Bradley County Teachers Federal Credit Union

We all know how important saving money is to our sense of security and our financial future in theory—but when money is tight, doing things like building up an emergency savings fund or building up your savings account seems next to impossible.

Fortunately, even when your paycheck is already stretched thin, there are smart ways you can save and (hopefully) make more room in your budget so you can start hitting your savings goals after all. Read on for our top tips for creative savings!

How to Save Money When You Don’t Have Extra Money

Always shop for the best deals. While some expenses in life can’t be timed, there are some purchases you can manipulate the timing of to save. If you need a new electronics item, for example, holding out for Black Friday savings or a tax-free promotion can help you save major amounts of cash on the purchase.

Consider the used market for furniture. If you have the capability to haul furniture (i.e. a friend with a truck), shopping Craigslist and Facebook Marketplace can be great ways to upgrade your home on the cheap. People sell everything from decor to full bedroom sets, so keeping an eye on listings for items of interest can be a major money saver.

Take advantage of birthday deals. Birthday promotions are a great way to rack up a ton of freebies and discounts during the month you were born. Restaurants, retailers and more offer a vast assortment of birthday promotions so be sure you sign up and get your gifts!

Be sure your bills reflect your usage. Your power bill is a necessity, but overspending for wasted energy certainly is not. Be sure you are making smart electricity choices that will lower your bill, such as adjusting your thermostat before you leave and using energy-efficient light bulbs in all of your home’s fixtures.

Consider low-cost alternatives to splurges. Everyone needs a little treat every now and again, but if you are craving something special, consider how you can find something exciting that does not cost a lot of money. Instead of a spa splurge? Have a spa day at home with drugstore products! If you are craving a dinner out, try to time it for a happy hour deal or promotion so you can save in the process.

Need help setting up a savings account so you can begin reaching your goals? We would love to be a resource for you! Contact us today to learn more about the accounts we offer.