Saving Money When There's Not Much to Save

  • Jan 22, 2021
Man and woman laying on floor in front of a laptop, woman taking notes and holding cash, creating a budget
Like many Americans, living paycheck to paycheck can make it difficult to save. Below are some suggestions on how you can save when there is little left at the end of the month.

First, find out where your money is going. Track your spending for 30 days, then categorize the expenses. Start with the essentials like rent/mortgage, utilities, food, transportation and healthcare (prescriptions and co-pays). These five essentials must be paid each month but everything else you may be able to trim.

Other suggestions are:


• If you have a streaming service, discontinue it for a few months. A service that costs $25.00 per month equals $300 per year – that’s a month’s worth of groceries.
• Get a library card to check out movies and video games instead of renting. 
• Listen to podcasts. There are millions to choose from on all subjects.


• Try not to spend more than 11 percent of your take-home pay.
• Choose generic over name-brand items, they can be up to 60 percent cheaper. 
• Use coupons with grocery store and meal planning apps for deals.

Energy bills:
Changing your living habits can help.

• Use a toaster oven or slow cooker instead of the oven.
• Unplug unused appliances and power strips to avoid phantom loads. 
• Turn off lights and electronics when you leave a room.

Credit Card Late Fees:
Missing a due date can be costly.

• Avoid late fees and protect your credit score by setting up automatic payments for at least the minimum by the due date. 
• If you can’t pay your bill in full each month, then only use your credit card for emergencies. 
• Transfer high interest credit card balances to the Ascentra Visa® Credit Card and lower your interest rate.

By cutting costs and putting those savings into an account, you will be able to pay bills with less worry and add to your savings.