You have no money – too much month at the end of your money and you wonder what can I do that requires little or no money ? Oscar Wilde once said anyone who lives within their means suffers from a lack of imagination ! John Lowe of MoneyDoctors.ie advises on 30 things that you could do without spending a fortune or even any money at all…this to help you stay productive, entertained, and focused on improving your situation physical and mental.
1. Create a budget and track expenses
Start by understanding where your money goes. Use a simple spreadsheet or a free app to track every expense. Email me for a free copy. This helps identify unnecessary spending and areas to cut back, giving you better control over your finances. The surplus is what you plan with.
2. Cook at home
Eating out or ordering takeout can drain your budget quickly. Look for inexpensive recipes online and cook at home. Bulk cooking and meal prepping save money and time plus can help you eat healthier.
3. Find free entertainment
Visit local parks, beaches, or hiking and jogging trails. Many communities offer free events, concerts, or movie nights. Libraries also host free workshops, book clubs, and movie screenings.
4. Sell unused items
Declutter your home by selling unused and unwanted clothes, DVDs, CDs, gadgets, furniture, or other items you no longer need. Platforms like eBay, Facebook Marketplace, or local swap groups can turn clutter into cash.
5. Use public resources
Libraries are goldmines for free books, movies, workshops, and internet access. Many also offer free Wi-Fi, printing, and educational programmes.
6. Learn a new skill for free
Use online platforms like YouTube, Coursera, or Khan Academy to learn skills that can improve your job prospects or hobbies or simply Google them. Whether it’s coding, painting, or a new language, free resources are abundant.
7. Apply for assistance programmes
If you’re struggling, look into government or community assistance programmes for food, housing, or healthcare support. These resources are designed to help you get back on your feet.
8. Volunteer
Volunteering can provide a sense of purpose and community connection. Plus, it can sometimes lead to job opportunities or skill development. There is no end to the amount of businesses, communities and charities looking for volunteers.
9. Practice mindfulness and meditation
Stress about money is common. Free meditation apps or videos can help you manage anxiety and stay mentally healthy during tough times.
10. Do home repairs and maintenance
Fix small issues around your home yourself instead of hiring help. Simple repairs can save money and improve your living conditions. It might also hone your own maintenance skills.
11. Start a side hustle
Leverage your skills or possessions. Offer services like babysitting, dog walking, tutoring, or freelance work online. Platforms like Fiverr or TaskRabbit can connect you with gigs.
12. Join community groups and events
Engage with local community centres or groups for free activities, networking, and support. Building a network can open doors to new opportunities.
13. Read and educate yourself
Use free resources to expand your knowledge. Reading books, blogs, or articles about personal finance, entrepreneurship, or self-improvement can inspire new ideas and even set you on a path to employment within that industry.
14. Cut unnecessary subscriptions
Review your subscriptions (streaming, magazines, apps, cable TV) and cancel those you don’t use frequently. These small savings add up over time.
15. Use coupons and discounts
Look for coupons, cashback deals, or discount codes before purchases. Apps from all the major supermarket stores and other retailers can help you save money online and in those outlets.
16. Practice gratitude and positive thinking
Focus on what you have rather than what you lack. Practicing gratitude can improve your mental health and perspective during financial struggles. One of the first things I set up 25 years ago when I started Money Doctors was the simple thank you card.
17. Create a vision board
Visualise your goals and dreams. It can motivate you to stay disciplined and work towards improving your financial situation.
18. Write a plan for financial goals
Set short-term and long-term goals, like paying off debt or saving for a specific purchase. Break these goals into manageable realistic steps.
19. Avoid impulse purchases
Practice delaying gratification. Ask yourself if you really need something before buying it or perhaps is there a cheaper alternative ? This helps prevent unnecessary expenses.
20. Practice DIY projects
From cleaning products to home decor, there are countless DIY tutorials online. Making things yourself can save money and give you a sense of accomplishment.
21. Maintain your health
Stay active with free workouts like jogging or bodyweight exercises at home. Prioritise sleep and healthy eating to avoid costly health issues later.
22. Network and reach out for opportunities
Connect with friends, family, or acquaintances for job leads, advice, or support. Sometimes, opportunities come from personal relationships.
23. Create a rainy-day fund
Even small savings can build up over time. Set aside a tiny portion of any income you get, no matter how small, for emergencies, sudden loss of income or that investment opportunity. Ideally you should have c. 3 to 6 months NET monthly income in that RDF.
24. Negotiate bills and expenses
Contact service providers to negotiate lower rates or ask for payment plans if money is tight. Many companies are willing to work with customers facing financial hardship.
25. Practice gratitude for non-material things
Value relationships, health, and personal growth. Focusing on what you do have can boost your mood and resilience.
26. Limit social spending
Instead of going out, opt for low-cost or free activities with friends. Hosting a movie night or potluck can be fun and budget-friendly.
27. Plan ahead for big purchases
Save gradually for expensive items instead of impulse buying. Patience and planning can prevent debt and financial strain.
28. Stay positive and keep moving forward
Remember, financial setbacks are temporary. Stay motivated, keep learning, and take small steps toward your goals.
29. Find free or low-cost hobbies
Engage in hobbies that don’t require spending, like drawing, writing, hiking, jogging or playing music. These activities enrich your life without draining your budget.
30. Reflect and adjust regularly
Periodically review your financial situation and adjust your plan as needed. Celebrate small victories to stay motivated.
Being broke can be challenging, but it’s also an opportunity to develop resilience, creativity, and financial discipline. Focus on small, actionable steps and remember that tough times are temporary. With patience and persistence, you can improve your circumstances and build a stronger financial foundation. It will get better !