03/08/2023
When it comes to saving money, there are a lot of little things you can do that add up to make a big difference! Here are 10 of our favourite money-saving tips:
1. Automatic savings are one of the most effective ways to save because you can’t spend what you can’t access!
2. Consolidating debt will result in a single monthly payment and lower interest costs!
3. Budget with cash if you have trouble with overspending or find it too easy to use your card. After your bills are paid, take out the remaining cash (spending money) and only use that.
4. Buying in bulk is a great way to save a bit here and a bit there when doing your regular grocery shop or purchasing other items.
5. Before Buying there are two things you should always do. The first is to wait at least 24 hours and the second is to shop around!
6. Plan Your Meals. Most of us don’t have time to make breakfast (let alone lunch!) before we fly out the door for work. But what if I told you that getting up an hour earlier could save you over $100 a week on meals?
7. Think in Hours versus Dollars every time you are looking to make a purchase, especially large ones to help you understand the TIME value of money.
8. Utility Savings can help you save each month! Don’t blast your A/C with all the doors in your house open. Don’t pump the heat without sealing cracks and consider things like installing water-saving toilets and running cold-water wash cycles to save energy (and money!) every day.
9. Master DIY – While sometimes you can spend $120 to make a $20 item yourself, there are some things that do benefit from DIY, such installing dimmer switches, that can help save you money in the long run.
10. Save Windfalls and Tax Refunds for a rainy day.