Top eleven behaviors to avoid when on a tight budget

In this article we are going to examine the top eleven behaviors to avoid when on a tight budget. 

So, we know looking for a job isn’t easy. In fact, it can be flat out stressful.

But you know what’s even worse? Being on a limited, or fixed, income without a safety net.

Whether you’re newly unemployed or a freshly out of college, the fact of the matter is you must to be cautious about the money you have right now.

You need money set aside you can fall back on in the event of an emergency. More importantly, you also need enough money to pay your bills.

Let’s face it: there are probably plenty of things you spend money on every day that you could do without.

It might be high time you reassess your budget. Start by taking a look at top eleven behaviors to avoid when on a tight budget.

1. Getting into debt

On a fixed income? The last thing you need is another credit card or loan.

Taking out a small loan or opening another line of credit might seem like a great fix initially, but don't forget that you have to return the money you borrow on top of any interest you accrue. 

Odds are if you're on a tight budget, you don't have the extra money to pay back the interest. 

And the problem with using credit on a tight budget is it can spiral out of control.

It might seem like an extreme, but it's actually very easy to find yourself using one credit card to pay another when things are lean.

Don't do it.

Use your credit card sparingly when you're on a budget and keep the increments small and manageable.

And whatever you do, avoid the temptation to open a new account until you're in a more stable position financially. 

2. Online shopping

Here's another habit that can be hard to break. 

But breaking it can be well worth it in the long run if you're tight on cash flow. 

Think about the things you typically buy online for a moment. 

Most likely, about 99 percent of the things you purchase aren't considered necessities.

And, even if you use bargain websites, your shopping cart totals can rack up.

That's not to say you have to deny yourself the pleasure of online shopping for eternity. Instead, just make an effort to purchase things you need or really want when they're on sale or if you happen to get a significant discount through a coupon or promotion. 

3. Dining out/nights out

Sure, once in a while a night out with friends or a good pre-cooked meal isn't going to hurt.

The key here is to keep how routinely you go out down to a minimum.

It's probably unwise to eat out every day or even every week. But you can treat yourself occasionally. 

Another thing you want to avoid: spending too many weekends partying with your friends.

As mentioned before, once in a while won't hurt. But even then, be careful about how much you spend at these kinds of outings. 

It's really easy to end up spending way more than you planned when you're out and about with friends, especially if you're drinking. 

Likewise, try to be frugal when you do go out. Instead of meeting friends for a full out meal, don't be afraid to suggest meeting for drinks or coffee. You can also try to cut down on your bill by suggesting meeting at a restaurant during their happy hour. 

4. Uber/Lyft

Sure, if you don't have a car, ride-sharing apps Uber and Lyft are a great deal.

But sometimes you have to think about how often you're using these kinds of services. If you're using these kinds of services to attend interviews, than yes, the benefits outweigh the costs.

However, if you're regularly using a ride sharing service to go out with friends, hit the gym or head to Starbucks, it's probably time to rethink that.

The fact of the matter is while Uber or Lyft are cheaper than some taxi services, your bill can really rack up, especially if you use them often.

Instead, try taking public transportation or riding your bike.

5. Purchasing what you can borrow

It's nice to have your own things, no one can deny that. 

But when you're on a budget there's are times when you need to compromise. 

Of the top eleven behaviors to avoid when on a tight budget, one of the biggest one is to avoid purchasing things you can just as easily borrow. 

This doesn't necessarily mean you should go around neighborhood borrowing sugar and flour, but it does mean when the option arises to be thrifty you should take advantage of it. 

For example, let's say you're heading out of town for a professional conference and need a high quality camera to take pictures with for your website or social media page. 

You could drop three-hundred dollars on a brand new camera for this conference. Or you could just ask to borrow a similar camera your friend happens to own. 

This is an especially good idea for those things you're only going to use one time and never again. 

You don't need to invest money in the things you'll rarely use, and since it's unlikely you'll be asking to borrow them often, most people will be willing to give you a loan. 

6. Daily Starbucks

You've probably heard this one a lot. But truly, this is a major one of the top eleven behaviors to avoid when on a tight budget. It can also be the easiest to avoid.

Starbucks is a great convenience, but on a budget, it's a convenience you can't afford--especially every day. 

Why?

Well, spending five to seven dollars each day can really add up. Let's say, for argument sake, that you spend an average of $5 per day on your regular Starbucks drink. 

That's $35 dollars a week, or about $140 a month. In a lot of cases, that's money that could go towards paying utility bills like water, trash and sewer.

Instead, opt in for a nice pot of home brewed coffee and only rely on Starbucks when you need a treat.

7. Renting an expensive apartment

You may not think about it, but where you live can be a huge luxury.

For most people, rent is what eats up a large portion of their cash flow every month.

But when you're on a tight budget, rent can be one of the most difficult things to make up.