How to Save Money When You Have None

Learning how to save money when you have none may seem like an impossible task, but we Save is here to help.

Set Manageable Goals

The key to learning how to save money when you have none is to think small. If you're struggling to keep a roof over your head and food on the table, planning for retirement or saving for a child's college education probably seems like an impossible goal. Focus on finding more manageable ways to save money. For example:

* Set a goal of cutting $10 per week from your budget. This can be accomplished by taking the bus instead of driving to work, eliminating a trip to a fast food restaurant, clipping coupons, or checking out movies from the public library instead of going to the video store. Once a week, make a trip to the bank to deposit the $10 in your savings account.
* Empty the spare change from your pockets into a jar whenever you walk through the door. When the container is full, add it to your savings account.
* Have a garage sale, take old items into a consignment shop, or sell collectibles on eBay.
* Spend an afternoon collecting cans from the side of the road to return for the deposits.
* Look for ways to earn extra money to give yourself a bit of a financial cushion. Babysitting or doing yard work for people in your community is a great idea. LoveToKnow Business also has a number of suggestions in the article,Home Based Businesses for Under $ 100.

Ask for Help Learning How to Save Money When You Have None

If you're struggling, there's no shame in asking others for help. Don't let foolish pride keep you from making the most of a bad situation. You can always repay the favor after your financial situation improves.

If you're in need of food assistance, consider the following resources:

* Angel Food Ministry allows people in any income bracket to purchase boxes of deeply-discounted groceries once per month. The basic box contains enough food to feed a family of four for one week.
* Pregnant women in a low-income bracket and those with children under the age of five can get milk, juice, cereal, and other necessities through WIC. The program also offers nutrition advice, free dental screenings, and assistance with family planning needs.
* The Supplemental Nutrition Assistance Program allows people with low incomes to purchase the food they need. You do not need to be married or have a child to qualify.
* If you're really in a bind, community food pantries provide temporary assistance with groceries. In most cases, all you need to receive help is proof of your legal address.
* If you have children in school, they may be eligible for free or reduced-price meals. Some schools also have programs that allow kids to sign up for a bag of groceries to take home on the weekends.

Other forms of assistance for how to save money when you have none include:

* Medicaid provides medical insurance for low income individuals and families who fit into an eligibility group that is recognized by federal and state law.
* The State Children's Health Insurance Program (SCHIP)offers coverage for children in families that earn too much for Medicaid, but not enough for private insurance.
* The Find a Health Center site can help you locate a clinic with a sliding scale fee system if you are uninsured and don't qualify for Medicaid or SCHIP coverage.
* Wal-Mart's $4 prescription program can help you pay for some of the medications you need, regardless of your income. Many other stores also have similar programs.
* LIHEAP provides assistance with heating costs during the winter months.
* Toys for tots provides Christmas gifts for needy children.