10 Ways to Save Money in Any Budget

We would all like to save a bit more money especially with the economic times of today. Saving money does not have to be denying yourself all the pleasures in life and some simple small things can really count to save some cash at the end of each month.

1. Return bottles to recycling for deposit

It may not seem like much but it can really add up and you are also helping to save on the environment so it’s a win win.

2. Use coupons and/or flyers to obtain discounts and price compare

There are many different types of coupons you can find online or in store for discounts or 2 for 1 deals. Watch for flyers each week with the stores sale items and then you can compare with their competitors who has the lower price. Some stores will also price match that of another competitor if you bring that flyer showing a lower price.

3. Simple Save Programs/Save each time you use your bank cards

Some banks will allow you to transfer up to $5.00 to a savings account for each transaction you do on your Debit, ATM or Credit Card. You can also transfer a certain amount daily, weekly or monthly so the money is out of the account before you can use this. Check with your bank to see what options they have for you.

4. Loyalty cards that don’t require fees (Optimum, Save on More Rewards, Petro Points etc.)

Loyalty cards are a great way to earn rewards for free purchases for products, gift cards, travel, or even cash back which can be a valuable tool in an effort to save money. For every dollar you spend you normally receive points that coverts to a dollar value which can save you hundreds a year.

5. Stop or reduce smoking/drinking coffee

I know, that is easier said than done! A pack of cigarettes are on average $16/Pack which can cost you $496.00/month if you are a pack a day smoker. Try rolling your own cigarettes or buy a carton as it will be cheaper.

A cup of coffee is approximately $3/day which is $93.00/month. Bring your own coffee from home or only drink coffee at your office if they supply this or try reduce down the number of times you go out to buy that cup of joe.

6. Buy in Bulk

There are many bulk-friendly stores around including Costco, Wholesale Clubs & online at Amazon. Even though you are spending more money up front, buying in bulk will save you money in the long run. If you feel you won’t use an item up quickly especially with groceries that spoil, split items with family/friends. You can buy almost anything in bulk including clothing such as socks, household supplies such as lysol wipes and Groceries and much more.

7. Pack a lunch instead of eating out

We all love to eat out, who wants to cook every meal on a daily basis?! However, cutting this down to just 1 or 2 days a week can save some major cash. Eating out costs on average of $8 to $10 now for lunch which can be $200/month.

8. Cut out your landline

Even though landlines are quite inexpensive these days, it is suggested to cancel this if you have a cell phone as why have two phones when you just need one? As long as you have a good signal it makes financial sense to cut that line.

9. Check with your bank about reducing bank fees

There are many updated banking packages/promotions that come up to allow you to pay one fee per month and have all your transactions covered. Make the call to your bank and they can check if it is worth it to switch to a new plan if you find your bank fees are adding up per month. There are also some institutions that offer no fee accounts that you can check for.  

10. Make your own gifts

Not only can making your own gifts for birthdays and Christmas save you money, they can be quite unique and personal for someone. There are many ideas online on making your own gifts for every occasion.

These are just a few ideas to help save money in any budget. With a few small changes your savings can really add up at the end of the month to put away for a rainy day or pay down any debt that you may have. By making extra payments on your Credit Cards, Loans or Lines of Credits, this can really bring down your balance and you will pay much less interest.

Consumer Credit Counselling

For more information on paying down your debt or options for saving money in your budget, please contact us at Consumer Credit Counselling to speak with a Credit Counsellor at 1-800-565-4595 or email info@debtfreecanada.ca anytime.