Wondering what are the cheapest way to live? If you are not happy with your budget, you have two choices: either find ways to earn more money or spend less.
If you spend less, you can make ends meet without earning more.
So in this article, I will discuss some cheap ways to live.
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7 cheapest ways to live on your own
1. Low-cost housing alternative
It is one of the cheapest way to live on your own. If you want to cut down your living expenses, then there are various cheap housing alternatives you can consider.
But don’t forget all of these options can’t be good for everyone; they don’t suit everyone’s situation. So before selecting any housing alternative for cheap ways to live, keep the realities of your life in mind to analyze the possibility of these options. Following are the alternatives:
- Truck
- Duplex
- You can become a full-time caregiver.
- Living with roommates
- Living as a nomad
- Convert a bus into your house.
- Storage container
- Live with friends and family.
Although all these alternatives also have cons, these are the cheapest way to live and reduce your housing costs.
2. Turning down the temperature
This is another cheapest way to live which will help you to reduce your living costs. Depending on your living situation, check if you can cut your energy costs or not.
Coming down by some degrees can help you lower your monthly bills, and there will not be any noticeable change in terms of comfort.
You can put up a jacket or blanket to save energy bills.
3. Lowering cable bills
If you are fond of watching serials, movies and series, you can purchase a subscription to any streaming platform instead of a cable subscription because a cable subscription costs you higher. So this is another one of the cheap ways to live and save your money.
4. Avoid ordering food from restaurants
Avoid ordering food also helps you save money and is one of the cheapest way to live. It might not seem a big deal to you to eat one or two meals out, but when you add up all these bills, you can see how much this costs you.
So try to cook your food, and you will see a good amount of savings in the long run.
5. Insurance bundles
Insurance bundles are one of the cheap ways to live and save money. If you own both a home and a car, contact your agent and ask about the discounts you can get for bundling the insurance together.
6. Cell phone plan
You should also consider cutting cell phone plans to help you save your money. If you spend most of your time at home, you can use your mobile over a WI-Fi connection which can help you cut the costs of cellular data.
7. Start a side hustle
Starting a side hustle will help you to boost your income.
The above mentioned are the cheapest way to live on your own, which you can also consider if you want to save your money.
Read: How To Make Your Money Work For You? 7 Methods
Conclusion
These were some of the cheapest ways with the help of which you will be able to live own. I hope you found this article helpful. Do you have any other idea to live cheap? Mention it in the comments down below.