I once had a conversation with someone about moving into their first apartment. They were excited but also afraid that living on their own would turn into some kind of financial nightmare. They had a job and income but after realizing how expensive rent, bills, groceries, transportation, and everything else would be, they started questioning if living alone was even an option.
That conversation stuck with me because I realized that a lot of people don’t want to live on their own; they think they need to earn a ton of money to live on their own. It’s completely possible to live by yourself and build a life that you enjoy when you’re working with a limited income. You just need to learn how to cut unnecessary expenses, be intentional about your spending, and focus on what matters most to you.
Living cheap when you live alone takes time and planning, but it can be done. You do not need a spacious apartment in a fancy area. You do not need brand new furniture or to eat out every day. All you need is a few money smart strategies that allow you to keep your spending under control while enjoying your independence.
If you want to learn how to live alone on a budget, then these tips for living cheap will help you plan realistically and avoid expensive mistakes that make living alone difficult.
9 Cheap Ways to Live on Your Own Even on a Low Income
1. Pick Affordable Housing That Fits Your Income
Rent is almost always the biggest expense for people learning how to live alone. If your rent is too high, then you’re going to constantly struggle to make ends meet. That’s why the first step towards living on your own with limited money is to pick somewhere you can actually afford.
Too many people look at apartments based on what they want rather than what they need. You might see a cool apartment that fits your “ideal” criteria, but if the rent is too high then it’s not ideal at all. You need to find a place that works with your budget.
When looking at apartments, think about your needs. Do you need a lot of room or are you just living there by yourself? You can save hundreds by getting a smaller apartment or even a studio. You also don’t need to pick somewhere expensive. If you can find a place slightly further away from high priced areas, you could save quite a bit on rent.
Instead of renting your own place, think about sharing space with a roommate or renting a single room. A lot of people assume living alone means you have your own apartment, but it really just means you have your own space to come back to at the end of the day.
Before you pick a place, make sure you calculate the overall cost of living there. Sure, the rent might be cheap, but what about electricity, water, internet, gas, transportation, security deposits, and other fees? Sometimes cheaper rent can actually cost you more if everything else is expensive.
Read also: 41 Fun Activities You Can Do All Alone
2. Create a Strict Budget That You Can Realistically Follow
If you want to live alone on a budget, then you need to understand where every dollar goes. A lot of people struggle because they earn a decent amount of money, but they never actually create a budget for themselves.
Budgeting allows you to see what you can afford. Where you need to cut back. Where you spend too much money. Without a budget, many people overspend without realizing it. You end up making small purchases that don’t seem like a lot on their own but add up to too much at the end of the month.
Write down your monthly expenses that are the same each month; rent, transportation, bills, groceries, etc. Next, write down your variable expenses. Entertainment, shopping, eating out, subscriptions.
The purpose of a budget is not to eliminate everything that you enjoy. You should still have fun when you follow your budget. You should still allow yourself to splurge every once in a while. A good budget allows you to enjoy life while knowing your limits.
You can keep your budget simple by creating categories and dividing up your money accordingly:
- Rent + Bills
- Groceries
- Saving / Emergency Fund
- Personal Spending
By putting away a little money each month, you can build up a safety net for when unexpected expenses come up. One of the important money saving tips is to build financial discipline.
Read also: How to Start Living Alone and Actually Enjoy Your Own Company
3. Prepare Your Meals Instead of Eating Out
Food is one of those expenses that sneak up on you when you’re living alone. It’s so easy to just order a pizza or buy prepared foods when you don’t have to worry about feeding other people.
When trying to live on a budget, start cooking your own meals. You don’t have to be a chef to save money. Learn how to make simple meals with inexpensive ingredients and you could save yourself a lot of money each month.
Make a list of meals you want to cook before you head to the grocery store. This prevents you from buying too much food and throwing it away. Stock up on staple foods that you can turn into multiple meals. Pasta, rice, vegetables, eggs, beans, chicken, ground turkey. These are all cheap ingredients that you can use to make a variety of healthy meals.
Another tip is to meal prep. Cook large quantities at one time so that you don’t have to cook every single day. The more time you save cooking, the better, because when you get home from work you will probably be tempted to spend money.
Understand the difference between nice to have and need to have when it comes to food. It’s okay to buy coffee once in a while or order a slice of pizza. Those things become a problem when you do it daily.
Read also: How to Really Enjoy Being Alone (21 ways)
4. Buy Used Furniture and Home Items
When moving into your first apartment, you may feel the need to fill it with all new furniture and décor. Don’t rush yourself into buying everything at once because that will only put unnecessary stress on your bank account.
One of the easiest ways to live cheap when living alone is by buying used items. Nearly everyone has furniture and home goods they would sell because they are moving, upgrading, or just want to declutter.
Check local listings for affordable used furniture. Visit thrift stores, look for garage sales, join community groups, or ask people you know if they have anything they would sell. You can find almost everything secondhand these days. Tables, chairs, desks, shelves, kitchen items, storage containers.
Your home doesn’t need to be perfect when you move in. Make your space functional and then upgrade as your income allows.
Also learn how to distinguish between needs and wants. A good quality bed, kitchen supplies, and other necessities should be your top priority when moving into a new place. Decorative items and luxury wants can wait.
5. Lower Your Utility Bills and Save On Energy
One cost that many people forget about when moving into their own place is utilities. You have to pay for electricity and water every month. When you live alone, every dollar you spend on utilities is a dollar you could have spent somewhere else.
There are simple things that you can do every day to lower your energy and utility bills.
- Turn off lights when you leave the room.
- Unplug appliances when not in use.
- Don’t waste energy needlessly.
Little things like this will help you save a few bucks here and there. As you get used to paying for utilities yourself, you will learn where you can cut back. You can also save money by watching how much water you waste. Fix leaks quickly. Don’t leave the water running. Develop habits that reduce your consumption.
You should also review your subscriptions and unused services. We all pay for things we don’t use. From streaming services to mobile apps. Think about what you can live without before your next billing cycle.
Living alone teaches you that no expense is too small. Everything you can save on utilities and expenses equates to more money for you to do what you want.
6. Take Care of Your Things and DIY When You Can
Another thing about living alone is that if something breaks or you need something done, you have to do everything yourself. If you don’t fix a problem, it won’t magically fix itself. Don’t rely on others to do things for you all the time.
Learn how to do basic repairs around the house. You don’t need to become a professional handy person, but you should know how to take care of basic issues at home. Learn how to assemble things properly. Clean the right way. Take care of your possessions.
Of course, if something is dangerous like electrical problems or serious plumbing issues, then call a professional. But you would be surprised at the number of things you can fix by yourself.
Part of taking care of your things also means maintaining them properly. Clean regularly. Store things correctly. Donate or sell things that you no longer need. You learn to treasure what you own when you live alone.
7. Walk, Bike, or Use Public Transportation
Transportation is expensive when you live by yourself. If you own a car, then you have car payments. Gas. Maintenance. Insurance. Repair costs. Everything starts adding up.
If you have access to public transportation, take advantage of it. Walk or bike when you can. Not only will it save you money, but it’s good for your health.
Where you live can also play a factor in how much you spend on transportation. You might have to pay a little more on rent, but if you live closer to work or school, you end up saving money because you’re not spending as much on getting back and forth.
Look at all of your expenses before making a decision. Cheap doesn’t always mean the lowest price. Cheap means getting the best value for what you need.
The more you can cut back on your transportation costs, the easier living alone will feel. You don’t want to stress about every dollar you spend getting to work or school.
8. Stop Upscaling Your Lifestyle and Spend With Intent
When you earn more money, do you automatically upgrade your lifestyle? Maybe you rent a nicer apartment, buy new clothes, eat at restaurants more often. If you tend to increase your spending when your income does, then you have to find a way to stop.
Attempting to keep up with an expensive lifestyle when you earn low income is a one way ticket to financial stress.
Lifestyle inflation is when your expenses start to rise whenever you earn more money. Sure, you can spend more, but you don’t have to spend more.
One of the best tips on learning how to live alone is learning what you value. You never know what someone else is saving towards or hiding.
Think twice before making purchases. Do you need this item? Will this improve my life? These are the types of questions you should ask yourself when spending money.
The practice of intentional spending will allow you to enjoy your money without feeling like it never goes high enough.
9. Make Extra Income To Give Yourself More Financial Cushion
Making a budget and cutting expenses can only get you so far. If you want to learn how to live alone on a low income, then you should try to find ways to earn extra income.
Having more than one source of income makes your low income a lot less stressful. You have other options if one income doesn’t cut it.
You can find side gigs that match your skill set and available time. Whether that be freelance jobs, making products, tutoring, offering services, or learning new skills that will allow you to earn more money in the future.
You don’t have to work your ass off. You just have to open yourself up to more opportunities.
Any extra income you can earn goes towards building an emergency fund, handling emergency situations, or upgrading your lifestyle.
10. Live Simply and Appreciate What You Have
Your income does not define your worth. There are plenty of wealthy people living in unhappy situations and there are low income people living richer lives than you can imagine.
Simple living is about appreciating the life you live and using your money wisely. When you cut out unnecessary spending, you free yourself up for the more important things in life.
You don’t need a fancy apartment to feel content. You don’t need to eat at restaurants every night to appreciate food. You don’t need to show people you’re rich just to feel successful.
When you learn to live with what you have, you start building a life you love.
Conclusion
Living on your own with limited income is possible. But it takes sacrifices and you have to be willing to make changes. The difference between struggling to get by and thriving on a low income comes down to your choices.
The cheapest ways to live alone center around picking affordable housing, creating a realistic budget, cooking meals at home, cutting back on unnecessary expenses, and learning money saving habits that keep you protected.
You do not need to be millionaires before you start living alone. Start with what you have and make smart choices that benefit your income level. Your stable life won’t happen overnight, but if you stay committed you will get there.
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