published September 29, 2020
ByAudrey N
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Tips For Saving Money When You're Flat Broke

When you’re in a tough spot financially, saving money can sometimes feel like an impossible task. For a lot of us, we spend much more than we think on little things which can really add up over the course of a year. Are there any expenses you could live without that aren’t benefiting you in the long term? 

Here are a few numbers to think about:

  • Buying lunch five days a week could cost roughly $3,000 per year
  • A soft drink or beer every day could cost close to $2,000 per year
  • A coffee every day during the workweek could cost $1,000 per year
  • Just $27.39 of random daily spending adds up to $10,000 per year

Be honest with yourself and take a good hard look at what you spend your money on. If your goal is to save up a significant amount for a big purchase like a house or new car, it may be worth making a few lifestyle sacrifices to reach that goal.


Ideas to save extra money.

👖 Only shop for the clothes you need. 

📄 Use a spending tracker app or spreadsheet to track your daily expenses.

🥕 Buy seasonal vegetables and fruit.

🥪 Meal plan and make lunch as often as you can.

🍽 Avoid grocery shopping when you’re hungry.

🌴 Book trips during off season.

🌡️ Keep an eye on your heat and air conditioning use at home.

🍷 Buy affordable wine or research discounted subscription options.

🚰 Use a reusable water bottle and avoid buying plastic bottles. 

🗞️ Share a newspaper subscription with a friend.

📱 Use a round-up savings app. 

🧦 Buy multiple pairs of the same socks so they don’t get lost.

👜 Bring reusable bags to the grocery store.

🍞 Bake your own bread.

💰 Sell ​​household items you no longer need.

🏠 Negotiate the interest rate on your mortgage if you can.

🎅 Do your holiday shopping in January while there are Boxing Day deals. 

📺 Use comparison services to find the best internet plan.

📦 Buying directly from a wholesaler can sometimes save money if you buy in bulk.

💡 Use energy-saving light bulbs.

🤾 Take advantage of any fitness or wellness benefits from your work.

🗓️ Get creative with finding fun, free activities on the weekend.

🐜 Check if what you need is available used at a flea market or through an online marketplace.

👬🏾 Consider splitting the cost of a big purchase with a friend. 

Make coffee at home.


We deep-dive into savings in Week 5 of WisrCredit Bootcamp. Check that out here to learn more and test your savings knowledge.


DISCLAIMER: This article contains general information only, and is not general advice or personal advice. Wisr Services Pty Ltd does not recommend any product or service discussed in this article. You must get your own financial, taxation, or legal advice, and understand any risks before considering whether a product or service discussed in this article may be appropriate for you. We have taken reasonable efforts to ensure that the information is accurate at the time of publishing, but the information is subject to change. We may not update the article to reflect any change.
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