10 Costs to Cut When You’re Broke

Silas & Grace

Pin image credit to Pictures of Money – Flickr – Changes were made to the original image.

Many of us have been in the same situation of living paycheck to paycheck and having a limited income. And no matter how you stretch out your budget, it feels like it’s still not enough to cover all of your expenses. In a few simple words, you’re broke. But even though it’s a stressful and tough time, learning what to prioritize and cut costs on can save you a ton of money.

So having said that, I’ve gathered 10 awesome tips below for getting the best out of your income when you’re broke so you can save more money. Things will free up so much when you cut out these purchases and will help you get started on your journey towards a more financially secure future. So pick and choose what works for you so you can build your own strategy and gain freedom.

Let me know what you think!


While Cable can have great shows, there are still plenty of channels you never use. So take advantage of the wireless internet installed in your home, and connect it to your television. There are plenty of free online streaming sites where you can watch full episodes and movies.

Cars, Cabs, and Uber

Finding other efficient and budget-friendly ways to get to your destination can be a quick way to cut down transportation costs in a flash.

If you’re going to nearby places, why not consider walking or biking. It won’t just save you money, but it’ll benefit your health as well.

Also, instead of taking your car, Uber, taxies or other expensive rides, take the public transport system. Check out the local bus and train routes from where you are to where you want to go and calculate how much you can save.

Take Out Coffee

Ditch the morning routine of buying take-out coffee and make it a habit to make your latte at home to bring to work. If you’re buying coffee, you’re spending between $1 to $5 per cup. Meanwhile, brewing a cup of coffee at home costs you between 16 and 18 cents per cup. So it’s a real savings.

You can also save money by making things at home – like sandwiches, packed lunches, or snacks. And the good thing about this is that you can make sure it’s tasty and healthy.

Expensive Apartments

Your monthly rent payment for your apartment probably takes up a large part of your budget. And not to mention, you still have utility bills, groceries, and other expenses that you need to consider as well. So if you figure out that you’re spending more than you need for living, consider cutting costs on your expensive apartment and look for a cheaper living option.

There are a lot of apartments that offer a competitive monthly rent fee. So shop around and see if you can find a home that’s cheaper than the others in your area.

Gym Membership

Seriously, there’s no need to get a gym membership when you have plenty of exercise resources on the internet that all comes for FREE.

Whether you’re looking for ways to tone up those muscles, lose weight, or just to stay healthy, you can find anything you want.

Compared to pricey gyms, doing your workout at home can save you a lot of money. You just have to grab a yoga mat, put your sneakers on, play a tutorial, and start moving.

Dining Out

out can save you extra money too. Especially avoiding dinner, which is more expensive than eating out at lunchtime, will help you save a lot — even if the same dishes are on the menu, you’ll still be paying more. 

Instead, consider cooking at home or host a potluck dinner for your family and friends. And to save time, prep in advance and use your slow cooker, so you’ll have more time and energy in the evening. You’ll get the same great meal without spending a lot of money.

Magazine Subscriptions

Perhaps, you have a love hate relationship with your magazine subscriptions. You love these publications but hate paying for them.

Thankfully, you can switch to digital now and save more money. Usually, these subscriptions offer better deals online so you can get the same news stories and content at a fraction of the cost.

New Electronic Devices

Just because it’s new doesn’t mean it’s always better. Sometimes, sticking to your old electronic devices is much better for your finances. Just like a new car, electronics lose value as soon as they are taken for a spin. Instead of focusing on quickly depreciating gadgets, choose to invest in things that can make money over time.

Concerts and Events

I know how fun and exciting it is to attend different concerts and events. But given the overpriced tickets, drinks, and food, I suggest you put that money on essentials, like paying off debt, bills, and groceries. It’s a little sacrifice in the moment while you’re still fixing your finances.

An alternative option to make your Friday nights fun is to check out your local event board. Usually, you can find FREE activities like concerts, museum tours, a movie night, and more.

Unneeded Groceries

It can be overwhelming to get anything you want as soon as you walk into the supermarket without a plan. We’re all guilty of getting things we don’t need that results in overspending. So to never let this thing happen again, make a list of all the essentials supplies you’ll need before heading into a grocery store. Stick to your list and follow your budget. You’ll be thankful later.

Nobody wants to be broke, but there are some things you can control. And when rainy days come again, you’ll be prepared because you found ways that you cut cost and save more. So try applying these ideas to your situation and let me know what you think!

Now if you have any costs to cut tips and strategies yourself, let me know in the comments below! I’d love to hear them!

Managing Finances Money

Silas & Grace

Chasing Foxes was started in 2016 as a way for Grace and her husband, Silas, to start traveling. However, they started to realize that they had a passion for improving themselves, and wanted to help others level up their lives as well. So whether it's with cooking, travel, or staying healthy, they want to help you better your life bit by bit, as they do the same.

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