How are you going to save money when you’re just making minimum wage? How can you reach your goals on a low income?
Even if you’re earning just a minimum wage, you can still save little by little. Here’s how to do it:
1. Work at High-Interest Debt First
In order to start saving, you have to address your debt head-on. Specifically high-interest rate from credit cards or loans, because they force you to pay shocking fees and interest charges.
2. Keep Your Budget Limited and Cut Down Expenses
You have to control how much you spend in order to save. Choose the categories you want to include, and keep the rest of your budget as thin as possible. You will make sacrifices but it’s not impossible.
3. Start a Side Gig
If you can’t cut down expenses anymore than you already have, consider expanding your income by starting a side gig to earn extra money. Aside from your full-time job, you can get a side gig to have another source of income.