You’re probably having a hard time trying to strike balance between the things that need to get done and the low income you have. In fact, the idea of budgeting may sound a little naïve. Notwithstanding the pain that comes with living within the dictates of a budget, it is a necessary precautionary measure to enable one to live within their earning means.

To help you get started with your budgeting needs, the following tips will be indispensable. It is paramount to keep things simple and manageable.      


To begin with, handle debts raking up most of your income through exorbitant interest rates. The goal is to get and stay out of bad debts as much as possible. Monthly debt repayments simply mean more money that would typically be saved is spent on paying interest on loans. For this reason, develop a plan to pay existing debts.

Give Due Consideration to Housing

Housing costs such as mortgage payments, rent, maintenance costs, and utilities gobble up huge chunks of money from low-income earners. For this reason, buy or rent a house with low costs so that you can free up more money for savings. If possible, carry out repairs on your own. If the house is rented, you may want to do additional maintenance work if that will help reduce rent. Importantly, keep a close watch on utilities, avoid wastage of power. If the house is bigger than what you really need, consider renting out some room (s).


Buy only necessary foods. Little indulgences here and there may appear harmless until you compute the hole dug into other essential budget areas. For this reason, avoid wastage of food by preparing only adequate meals.  

In addition, prepare own meals to save on costs cut down on an intake of unhealthy foods.

Save Your Loose Change

Certainly, when you are on low income, frugality makes a lot of sense. Therefore any loose change should be kept well for a rainy day. 

Shop With the Aid of a Shopping List

Keep it revised to reflect only what’s necessary and in order of priority. You do not get to buy gas for your car before you pay for your essential groceries, for example.

Cut Down On Expenses

The whole purpose of budgeting is to cut down on expenses and give priority to what really matters. Review and cut down on your telephone bills. Give up a few calls. Walk to your neighbor, if possible, instead of making calls.

Secondly, cut down on entertainment costs. Sometimes it is simply illogical to get wild in the wild when your pressing bills are yet to be settled. Avoid events that will eat into your pockets. You may opt to attend events hosted in homes rather than inexpensive joints. Further, you can cancel any premium cable services and opt for streaming services such as Netflix.com. This also requires purchasing data plans that are within your reach.

Maintain a Lean Budget

Keep your budget lean. Keep things simple. Give priority to pressing and necessary things. Avoid expenses that you can do without.  


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