How to Live on a Tight Budget As a Single Person

This article will tell you how to live on a tight budget as a single person. After reading this article you will have the confidence to budget and save for your dreams! This is how to live on a tight budget. It may seem hard at first but don't worry, you will soon get used to it. You may even find it fun and rewarding!


  1. 1
    Work out your major monthly recurring expenses. For example, you should include rent, electricity, phone, internet, insurance, registration, membership fees, a monthly travel pass on public transport and so on. Once you have these figures, add them up and you will know your basic irreducible costs.
  2. 2
    Decide how much you are willing to spend. For example, maybe you want to spend no more than $1000 a month.
  3. 3
    Subtract the irreducible costs from the spending total. In our example, if you want to spend no more than $1000 per month and your irreducible costs are $600 per month, you subtract $600 from $1000 and are left with $400.
    • Now you know how much you have to cover food, haircuts, one off transport expenses not covered by your monthly pass, petrol, toiletries, entertainment, clothing, footwear, gifts and miscellaneous. In this case, that amount is $400. Put this amount, in cash, into your wallet or purse. This is all you have to live on for the month.
    • The essence of making this system work is discipline. You simply cannot exceed your budget for the month, period. It doesn't matter how much you want to, you just tell yourself that you can't.
    • For some people, it helps to know how much per day they can spend. For example, the person above has $400 for the entire month, so that works out to about $12.90 - call it $13 - per day. It's better to always divide by 31 than to sometimes divide by 30 and sometimes divide by 31.


  • You may find it helps to have different parts of your wallet or purse where you earmark funds for different purposes. For example, you could keep the month's food and miscellaneous allowance separate from the month's larger items allowance.


  • Don't get discouraged too easily. Keep trying!
  • It's not a good idea to spend the maximum daily allowance. Something big may come up that you simply can't, or absolutely don't want to, avoid. Spend less than your allowance every day and you will be pleasantly surprised how often you find yourself with a surplus at the end of the month - or at least a bit extra which you can happily put towards an unexpected expense without breaking your budget!

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Categories: Merge | Budgeting