What Should You Do If You Only Have A Low Income?

By: Jerry Leung

You may find that difficult to plan for your budget if you have a low income. There are some ways to stretch your budget so that it will be easier to live with the low income. There following are the tips you may want to know.

As you may be well aware, dining out can be something very expensive. To this end you may consider prepare your lunch before you go to bed and take it to work. Although you cannot save a considerably amount by doing that, it can be sure that you can save about $20 a week. If you have children, you should also prepare the lunch for them so that they can take it to school.

You may also try to make the food for your children. Children will probably love things like cakes and chocolates. In some cases they can be very expensive. You can consider making them yourself. You may think it is insane to make them yourself. However, the truth is that you can on one hand save money, and on the other make them according to the tastes of your children. Trust me, you children will love the cookies you make.

Before you shop for food, you can try to plan your menu of the week. You will find that you can save quite something if you do that. Try to consider all your meals in the week, including breakfast, lunch and dinner. You can think of what you want to have for each meal first. Then you can go shopping according to the menus. You will probably be able to save $40 a week when you do that. Remember, you still have to consider your meal in the nutrition side even if you want to save money. There is no point to save money if you cannot have a healthy body.

If you are a person who goes dining out with your friends from time to time, you should try to avoid it. If possible, you can try to arrange to have gathering at the home of your friend. You can save a lot by doing that. You can even save money on the drinks. Getting a bottle of wine in a supermarket can be a lot cheaper than getting the same bottle in a restaurant.

Of course saving money only is not enough. You have to try to use the money you have saved to invest. You can gradually build your wealth even if you can only invest $150 a month. Remember to invest wisely and always bear in mind about the risk of investment.

Money Management
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