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How to Budget on a Budget

October 22, 2012 By 20 Comments

Yeah, budget on a budget. I know what you’re thinking. What does that mean? Well, I’ve always been a supporter of budgeting for the essentials, for the wants and the needs. But you might be wondering how to make a budget work when you barely have any extra money now. There is a way, but it’s going to take some hard work and dedication.

If you are already trying to figure out how to squeeze more cash from your current situation, I have some suggestions. I am notorious for finding extra money and figuring out ways to make some extra cash.

 

Get a Better Job

tightly squeezed budget

Is Your Budget on a Diet?

This one is a no brainer. If you are currently in a job that doesn’t pay you what you’re worth, then it’s time to find something else. I know that right now the economy is pretty bad and thinking about looking for a new job is pretty scary but you can prepare by making sure that you have the right skills that you will need for that new job. If a better job is completely out of the question, then consider a part time job. I wrote a post about figuring out ways to make more moneythat would be a good starting point.

Start a Small Business

When I say start a small business, I don’t mean invest a ton of money into a full fledged business like a restaurant or a retail store. There are plenty of ways to start a business with nothing but your time. If you can think of things you are good at, you can make some extra money to squeeze into your budget. One of the best ways to make some quick extra money is to register for Fiverr.com. I regularly go to that site to find someone to handle work for me. Every job pays 5 bucks. For example, if you have a large Twitter following, you can offer to send a message to all of your followers for 5 bucks. Do you have the time to record a video message? How about looking up a few scriptures? These are all jobs that are offered everyday and people are making money through this site.

Trim the Fat

Yes, put your budget on a diet. There are ways to squeeze extra money out of your budget without getting rid of the things that you love. But what about the food that you let go to waste? How much money do you think you would save if you eat all of the food you buy at the supermarket? When you think about how much food is wasted and how much money you could save by not shopping for groceries as much, you will be pleasantly surprised.

Join a Support Group

Hi, my name is LaTisha, and I’m a shopaholic. Hi LATISHA! 

It’s fun to save money when you are competing. Penny the Saver has a Saved Quarter Challenge that invites you to save 25% of your income. J Money at Budgets are Sexy has a Million Dollar Club that you can join once you declare your desire and your plan to become a millionaire. There are great ways to keep your self accountable to your goals and still maintain a budget.

 

What about you, how do you squeeze that extra cash from your budget?

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About LaTisha Styles

"Money is a tool. Use it to get where you want, but don't let it control you."

Writer, runner, competitive as heck. Love to laugh and make others laugh. Focused on helping you build success and stay motivated along the way. Start investing now and let’s build wealth together.

  • http://twitter.com/moneycone MoneyCone

    Budgetception!

    • http://www.FSYAonline.com FinancialSuccessforYoungAdults

      haha!

  • moneycone

    Budgetception!

    • http://YoungFinances.com/ Young Finances

      haha!

  • http://twitter.com/CollegeInvestin Robert

    I’ve used Fiverr but never worked on there.  Is it worth it?

    • http://www.FSYAonline.com FinancialSuccessforYoungAdults

      I haven’t done any work on their either. I think if you can figure out an easy task that can be quickly completed, you can make some good money. For example, the Twitter blast people seem to always have takers.

    • http://YoungAdultFinances.com FinancialSuccessforYoungAdults

      I haven’t done any work on their either. I think if you can figure out an easy task that can be quickly completed, you can make some good money. For example, the Twitter blast people seem to always have takers.

  • http://twitter.com/CollegeInvestin The College Investor

    I’ve used Fiverr but never worked on there.  Is it worth it?

  • Anonymous

    and of course clipping coupons will help! Just stating the obvious. Good
    idea on joining a support group. Once you’re part of a group you’re
    more likely to succeed! You don’t want to let others down, right?

    • Anonymous

      I say do the Drugstore game! Depending on the amount of family members you have, you could save a hundred dollars or more per month. It’s just two of us in our household, and I typically save $500 a year.

      • http://www.FSYAonline.com FinancialSuccessforYoungAdults

        What’s that? For prescriptions?

    • http://www.FSYAonline.com FinancialSuccessforYoungAdults

      Coupons, I almost forgot! Yes, that is a quick and easy way to save extra money.

  • Anonymous

    and of course clipping coupons will help! Just stating the obvious. Good
    idea on joining a support group. Once you’re part of a group you’re
    more likely to succeed! You don’t want to let others down, right?

    • http://YoungFinances.com/ Young Finances

      Coupons, I almost forgot! Yes, that is a quick and easy way to save extra money.

  • Anonymous

    I say do the Drugstore game! Depending on the amount of family members you have, you could save a hundred dollars or more per month. It’s just two of us in our household, and I typically save $500 a year.

    • http://YoungFinances.com/ Young Finances

      What’s that? For prescriptions?

  • http://www.brilliantfinances.com Brilliant Finances

    I agree, when you can’t cut any more costs, it’s time to make extra cash. The business venture has to be well thought out though, you don’t want to throw hard earned money after a failure and a lot of small businesses fail for many reasons.

  • http://thomassmoore.com Thomas S. Moore

    I think a good one is to reevaluate your budget. Chances are there are things that can be cut some more or all together. I know I see a lot of money spent on things like entertainment, clothing etc. If you don’t want to cut them or have cut to your liking get a side hustle. I think nowadays its a lot easier to find a side job then it is to get a better paying one.

  • http://www.moneysavingenthusiast.com Karen @MSEnthusiast

    I love this topic. Just when you think you can’t possibly cut anything else, there’s always a solution. When I broke my foot I couldn’t work and I had doctor’s bills. I got very creative. Great post!

  • Crystal @ Get A Copywriter

    We prioritize to make sure our dollars and cents are going towards what is most important to us. That way, whether we are saving for retirement, paying off a house early, or planning a vacation with friends, we have no regrets. Prioritization makes sure that even our splurges aren’t wastes.