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How to Manage Your Finances When You Work Part-Time

How to Manage Your Finances When You Work Part-Time


If you are only able to work a part time job, chances are you are feeling quite a crunch when it comes to your finances. Everyone is getting hit hard today with work and layoffs. Gas prices are rising, groceries are costing more and that combined with all the other nuances that continue to make our economy tough to live with have you struggling to make ends meet. Your budget is probably limited but there are some other things you can do to manage your finances better when you work part time.

Budgets and Coupons

Make a list of how much money you can afford to spend monthly on food, transportation, utilities and clothing. It’s important to do this because only working part time, you don’t have a glamorous budget any longer. You have to honestly look at your expenses and find ways to cut back. Coupons will come in very handy when you are making part time money. Get every weekend paper and cut coupons from the circulars. Check your local stores websites online and get coupons there as well. Only but what you have to have and leave out things that are not necessary for now.

Food and Medicines 

Buying junk food is a cost that can really add up over time. Limit yourself to buy only healthy foods that can make more than one meal. Buy foods that are on sale even if you have to shop at different stores. A roast in the crock pot can last three or four days by making sandwiches and more meals with leftovers. You will save money without buying junk foods and feel better. As well, think about how much money you spend on brand name medications. Generic medications can work just as well as leading brand medications and they will cost you less than half the price. Ibuprofen and products like this can all be bought generically at local drug and grocery stores.

Brands and Values

No name paper towels and toilet paper are going to do the job that name brands one do. Diapers fall into the same category. Look at products that are store brand private label products that are just as good as the name brands, but about half the price. As well, shop at stores that have better values. Items can be bought at Dollar Stores, Value City stores and such versus the big brand stores that have prices that are so much higher. Cleaning goods can be purchased at a dollar store for $1.00, versus something you may get at the grocery store for $3.00.

Eating Out

Eating out a lot? Don’t! This just cannot be something you do any longer on a part time salary. Almost every single thing you can purchase out at a restaurant is something you can make at home for a lot cheaper and it will probably last you more than just one meal. You can make burgers. You can fry shrimp. Once you take away the expenses of eating out, your bank account will start to get fatter.

Living life on a part time income is tough, but you can manage your finances if you really try. Keep the faith and know that this is just a setback and in time you will have something better. Let this be a stepping stone in life as you find the way to managing your finances on a limited budget.

Sarah Jenkins writes about finances, green living & finding cheap boat insurance rates.

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