A small amount of saving is better than none. Although it is very hard to save money on a very low salary than saving money on an average salary. Savings are just put aside for emergency purpose. Before saving money you should first define for what cause you are saving money because when you set a plan for anything then you seems more reluctant and save at least a penny for it.

One thing should be kept in mind that when you are saving money from a low income it does not mean you’re relieving yourself but you are doing this to certifying yourself for a long time.

In some cases, most probably we save our money to make our future goal accomplish. Saving money is not only applicable on them who earned a very good or average salary it is applicable for everyone.

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OFW or Seaman tips, Here are some hacks to save money from your low salary.

1Evaluate your housing cost

It is difficult to save money when you are running a big family and also difficult for the one who lives alone (bachelor). You can share your room with roommates this is beneficial that you can save money and share your half with other. And then you can invest this money or can save it for emergency.

2Plan your shopping

Thrift stores are now utilized and made it easy for one to buy things at cheap rates. But it should be kept in mind that never buy a thing which you feel like it because it counts in extras which is the basic problem of wasting of money. Utilize your ways and buy only the things you need hardly which are your basic necessities. And it does not mean that you can never buy this in future you can, but first save your money than take a further step. You can also sell your old house holdings and buy new one. Use a written budget every month.

3Buy used stuff

Always accumulate your stuff. You can use such stuff that is barely used. You can buy stuff online. Online shopping have many benefits things are purchased at very reasonable price. This can also save money from our low budget.

4Don’t Use credit Cards

Usage of credit card makes you dumb. You spend much of money when you have a credit card. The money which you can save by keeping in a safe place is fastly accumulate in interest and fee of credit card. So we should shorten the use of credit card. Best way is to cash away money.

5Don`t think yourself deprived

If you are saving money don’t think yourself deprived. Saving money have a lot of benefits as you became wiser and feel comfortable in every kind of environment. It is very important to show determination with your plan if you actually plan for savings. Always think controlled of your needs this is the easiest way of saving money.

6Plan your meals

It means to cut down your personal foody budget like spending on coffee or fast food. Try to take your lunch to work and save periodically can be useful. There are always many other ways to cut your cost to save money. These refreshments can save 25% of your income.

7Find a side business

Now a days there are many ways of earning extra money online. Mostly people use freelancing as a side business which can also balance your low income. And it is very easiest way of earning money you can work on anytime. This can built up your cash position quickly.

8Change job judiciously

Change in job can change in your experiences and skills which better and good for you. Try to find out new and more expensive job and believe on yourself that you can do it. Give your best and get something more excited which help in your earning. Build your education reserve and make more money and pay for your career.

9Save your pennies

Use jars to put all those pennies which remain after any purchase. These penny can make a jar full of money one day. It is the most frequent way of saving money. Kids, elders all use these jars way to save money. And it can give go 45% of your income.

10A side hustle

Side hustle is a way of making cash that allow you to comfort for your emergency time. You can also call it mini business. You always enjoy earning this and doing this. It includes different things like babysitting, walking dogs and reading for others etc. Article writing and freelancing can also under this concept. Side hustle includes all such earning activities which you are good at and enjoy doing it.

11Don`t follow crowd

Don`t get yourself jealous of people. People always spend extras on them because they wanted to look and get thing better than other without keeping it mind that it is nothing just a wastage of money. So you can save money not to spend them on extra parties, clubs and etc. 25% of income is saved form this.

12Set your priorities

Before saving money things which should be kept in mind is set your priorities. That in which work or thing you have to save how much because you can never save so much from a small salary. So keep 20% aside from things of interest 10% aside from your diet and 30% aside of your extra needs. In this way you can save 30% of your low income.

13Ask for Refund

After purchasing any new equipment or vehicle if it became useless or broken due to any accident ask them to refund it, it can also save money in form of saving. Amazon also provide online refunding of their products. Savings can also be in form of refunding.

14Get financial adviser

When you are saving money from a very low income then you need a financial adviser who will help you to set your goals in earning much and in saving them as well. Don`t feel bad about changing. Changes are for your betterment. It can be a tricky way of become a rich man. This the way of making yourself success after retirement.

15Use coupons

Use coupons on grocery stores. Use of coupon can save a very huge amount of money. You can use google to search coupons of different products. And get 10,000 coupon at one place.

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