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How Can I Save Money When I Don’t Earn Much?

Trying to save money when your income barely stretches to cover the basics can feel like trying to fill a basket with holes. The rising cost of living, unexpected expenses, and limited earnings often leave people feeling stuck in a cycle of survival, not success.

But here’s the truth: Even with a lower income, intentional money habits rooted in biblical wisdom can bring financial peace and a hopeful future.

You don’t need to wait for a salary increase to take control of your finances. Whether you’re a student, single parent, or just trying to make ends meet, these tips can help you move from barely getting by to managing your money with confidence.

In this article, we’ll explore smart and simple strategies to help you save money even with limited earnings. Let’s look at how to:

Let’s dive in and explore how faith and wise choices can make a big difference, no matter how small your income may seem.

Identify and cut unnecessary spending without feeling deprived

If you’re serious about saving money on a low income, the first step is to take an honest look at your spending habits.

Most of us spend more than we realise. And this is not because we’re careless, but because we haven’t paused to evaluate what’s truly necessary, or how much income is being spent in which categories.

Start by reviewing your monthly expenses. Create a simple log using your bank account, receipts, or a notebook. Break your spending into categories such as food, transport, utilities, entertainment, and so on. Then prayerfully ask: Which of these do I truly need? What can I reduce or eliminate?

Research supports this reality. A study by Furnham (1999) found that young people often struggle with long-term saving due to impulsive spending and short-term gratification tendencies, which can become deeply ingrained patterns if not addressed early on.1

Here are some savings tips to help you get started:

  • Cut subscriptions you barely use.
  • Buy food in bulk, cook at home, and limit how many times you go to restaurants.
  • Avoid impulse buying by giving yourself 24 hours before making non-essential purchases.
  • Set a spending limit for wants vs. needs.

Even the ancient wisdom provides insights on this:

“There is desirable treasure, And oil in the dwelling of the wise, But a foolish man squanders it” (Proverb 21:20, NKJV)

In other words, wise spending begins with restraint.

Once you’ve trimmed the excess, it’s time to direct those freed-up funds with a plan.

Create a realistic budget that aligns with your values and priorities

Stationery on a table to be used to create a personal budget.

Photo by NORTHFOLK on Unsplash

A budgeting system is not about restriction. It’s about direction. A solid budget tells your income where to go so you don’t wonder where it went.

If you don’t earn much, your budget must accurately reflect that. Begin by listing your monthly income, then your fixed expenses (such as rent, transportation, and food). The goal is to spend less than you earn, even by a small amount.

Tips for effective budgeting:

  • Use the 50/30/20 rule as a guide: 50% goes to needs, 30% to wants, and 20% toward savings or reducing debt.
  • Set aside a budget for an emergency fund, even if it’s just Ksh 500 per month.
  • Set a clear savings goal, such as “Save Ksh 5,000 for emergencies in 5 months.”
  • Review your budget monthly and adjust it as life changes.

If spreadsheets overwhelm you, try free mobile apps or simple pen-and-paper budgeting. Just make sure it works for your lifestyle.

Now that your income is under control, what if you still feel like there’s “nothing left” to save? Let’s shift focus to how even small steps matter.

Start saving—even if it’s just a little at a time

You don’t need a big salary to start building savings. What matters most is consistency. Saving any amount—no matter how small—develops the muscle of financial discipline.

Think of it this way: If you save Ksh 100 a week, that’s Ksh 5,200 a year. That’s more than many people have in their savings account. The key is to start.

A study published in the National Library of Medicine found that even individuals who reported lower objective income were able to build savings when they had a positive mindset and strong financial habits. This means that feeling financially secure, not just earning more, plays a critical role in one’s ability to save.2

Here’s how:

  • Open a dedicated savings account that’s separate from your spending account.
  • Automate transfers, even if it’s just Ksh 300 per month.
  • Label your savings goal: “Emergency Fund” or “School Fees” to stay motivated.

Proverbs 13:11 reminds us that “…he who gathers by labour will increase.” The power of saving doesn’t lie in the amount, but in the habit.

But saving isn’t just about technique. It’s also about heart and mindset. Let’s explore the biblical view on this.

Embrace a mindset of contentment and stewardship that transforms how you view money

Sometimes, the biggest shift we need isn’t in our wallet, but in our thinking.

If we view money as solely for spending, we’ll always struggle. But if we view it as a tool for stewardship, guided by faith and values, we begin to plan, save, and give wisely.

Here’s what the Bible teaches:

  • Contentment: “Now godliness with contentment is great gain” (1 Timothy 6:6, NKJV).
  • If we aren’t faithful with little, we can’t be faithful with much, either: “He who is faithful in what is least is faithful also in much; and he who is unjust in what is least is unjust also in much” (Luke 16:10, NKJV).

Whether you’re earning a little or a lot, God calls us to be faithful managers of what we have. That includes avoiding credit card debt, resisting overspending, and prioritising what matters: relationships, purpose, and generosity.

Mindset shifts to embrace:

  • Your income may be low, but your worth isn’t.
  • You can honour God with how you spend, save, and pay your way forward.
  • A budget isn’t just a financial tool. It’s a spiritual discipline.

Small steps, big impact

Saving money on a low income may not be easy, but it is possible and deeply rewarding.

By cutting unnecessary expenses, building a realistic budget, starting with whatever amount you can, and cultivating a mindset of contentment and stewardship, you’re not just managing money. You’re building a life of purpose and peace.

Ready to take the first step?

Begin by reviewing your current spending habits this week. Where can you cut expenses? What’s one savings goal you can set for the month?

Looking for more practical, Bible-based financial guidance?

Visit the HFA Finance Hub for more resources designed specifically for people navigating life on a tight budget.

We recommend starting with:

Let your financial journey be guided by faith, wisdom, and a solid plan, one wise decision at a time.

  1. Furnham, A. (1999). The saving and spending habits of young people. Journal of Economic Psychology, 20(6), 677-697. https://doi.org/10.1016/S0167-4870(99)00030-6 [↵]
  2. Maison, D., Marchlewska, M., Sekścińska, K., Rudzinska-Wojciechowska, J., & Łozowski, F. (2019). You don’t have to be rich to save money: On the relationship between objective versus subjective financial situation and having savings. PLoS ONE, 14(4), e0214396. https://doi.org/10.1371/journal.pone.0214396 [↵]

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