10 Tips From Experts To Stretch Your Last $100 for the Month
Written by
Cindy Lamothe
Edited by
Gary Dudak
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It happens to the best of us — you’ve been diligent about sticking to your monthly budget, but then you have a series of unexpected expenses, or perhaps you overindulged on going out or impulse shopping. Whatever the case, you’re now down to your last $100 for the month and you need to stretch it as much as possible. How can you manage that with the cost of living going up across the board?
Don’t fret too much. Here are 10 ways to make your money last, according to experts.
Opt for Thrift Stores
Thrift stores are a great way to find quality items at a much lower price than buying retail, said Janita Grift, frugal living expert and owner of Frugal Fun Finance.
“I’ve found quality clothing items such as shirts and dress pants and have stocked my capsule wardrobe with these. Additionally, thrift stores are an ideal place to find pots, pans, books and even furniture.”
Engage in Low-Cost or Free Activities
“Just because you only have $100 left for the month doesn’t mean you can’t have fun!” Grift highlighted. “Some low-cost or free ways to have fun for the rest of the month include a picnic, a family game night or even simply brewing a cup of coffee and sitting on the porch while listening to the birds chirp.”
She added, “When money was tight for me, I took the opportunity to try out these activities. Even now, I have developed a greater appreciation for what I have in life. I’ve realized that many experiences and things in life don’t have to cost a lot of money.”
Use Cash
When you spend with cash instead of a credit or debit card, Grift says you’ll feel the money physically leave your hand and will understand how much you’re actually spending.
“When you only have $100 left, you’ll understand that you need to make it last and will think twice before buying takeout coffee,” she said.
Use Apps To Find Cheap Groceries
Grift recommends using an app such as Flashfood to get food at a discount. “Many grocery stores in the U.S. and Canada put items on sale that are about to expire and post them on this app,” she explained.
Additionally, she suggests using an app such as Flipp to compare the same grocery item at different stores and buy the cheapest item. “I’ve used apps to save nearly 30% on my grocery bill and stretch my limited funds until the end of the month.”
Plan Your Meals and Shop With a Grocery List
“Before you go to the grocery store, create a frugal meal plan,” said Grift. “Plan out recipes that have limited ingredients and try cooking recipes where you can use the same item in multiple dishes. For example, when money was tight for me, I purchased chickpeas and used them to make smashed chickpea and dill sandwiches and a chickpea curry.”
Clean Out the Fridge/Freezer
“If you’re like me, you probably have several meals that you can prepare without spending a dime just by digging through your fridge and especially your freezer if you typically freeze leftovers,” said David Bakke, financial expert at DollarSanity.
He added, “Go through your pantry too and you might be able to finish the month without any of that last $100 going toward groceries.”
No Dining Out or Entertainment
“There should definitely be no restaurant trips and obviously no bar-hopping, movie theater visits, or anything else,” said Bakke. “$100 doesn’t last very long these days with inflation, so suck it up and plan a night out or two for the beginning of next month when you have more available cash.”
Pay Bills Late If There Are No Fees
“Never pay a credit card bill late or your mortgage — that almost always incurs a fee,” warned Bakke. However, many companies don’t hit you with penalties for paying late.
“Most utility companies do not charge a late fee if you’re just a few days behind schedule, so if you need to do that to get you across the finish line, do so. Any other bills you can push without incurring fees should be handled the same way if you’re down to your last $100 for the month.”
Embrace the Sharing Economy
Renee McBride, personal finance author and digital marketing manager at Net Pay Advance, suggested that instead of buying new, you should consider renting or sharing items with friends, family or neighbors.
“From tools to appliances to even cars, sharing resources can significantly reduce expenses and extend the life of your remaining funds,” said McBride.
DIY Your Way to Savings
“Get creative and tackle projects yourself rather than hiring professionals,” said McBride. “Whether it’s home repairs, car maintenance, or even beauty treatments, DIY-ing can save you big bucks and empower you with new skills along the way.”
Caitlyn Moorhead contributed to the reporting for this article.
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