There are so many things you can do, big & small, to save money. The following is an ever-growing list of ideas. Scroll through them and choose the ones that make sense for you! Or check off the ones you are already doing and pat yourself on the back. Come back often to find new tips!
Set a goal to set aside the money you do save, or a percentage of it, and watch your decisions turn into savings.
Groceries
- Never shop on an empty stomach
- Always shop with a list
- Buy items that you know you are going to use in bulk, when they are on sale
- Pay attention to how much food you are throwing out, avoid over-buying
- Make meals from scratch wherever possible
- Cook larger meals and use leftovers for lunches at work or school
- Create a meal plan and a grocery list for the week
Home & Utilities
- Always negotiate your mortgage interest on renewal
- Call your Home and Auto Insurance provider every couple of years and ask of there is a better rate for you
- Review your Life Insurance and Investment Products with an advisor to ensure you are not over-insured
- Call your cell phone provider every year and ask of there is a better plan for you
- Shop around for all insurances and telecommunications at least every two years
- Replace old appliances with energy efficient (Energy Star) appliances as they wear out
- Install a programmable thermostat
- Turn down the temperature on your hot water heater (to a recommended 130-140 F / 55-60 C)
- Consider having an Energy Audit (contact your utility company)
- Turn off the “heat dry” on your dishwasher, dry with the door open instead
- Install inexpensive outlet sealers behind all outlets and light switches on exterior walls
- make your own eco-friendly cleaners (vinegar, lemon and baking soda can be used for many things)
Entertainment
- Visit your local library – borrow books, DVDs etc versus buying
- Search online for FREE events – concerts, plays, lectures, sports etc.
- Check out your local community centre for events, exercise classes, children’s activities etc.
- Two words…Board Games! = Family Fun!
- Plan a scenic walk or bike ride and picnic
- Picnic or BBQ at the beach for dinner versus going out
Clothes
- Learn sewing basics – make minor repairs and alterations (hems, buttons, torn seam)
- Wash with cold water
- Buy good quality basic items and accessorize
- Pay attention to sales cycles – end of season clearance racks pop up well before the season ends
- Buy kids clothes on sale at the end of a season a size or two larger for the next season
- Thrift shop! – visit second-hand clothing, vintage & consignment shops.
Shopping
- Check for discounted display items or demo models for sale (cards, appliances, mattresses, etc.)
- Shop after major holidays and stock up for next year (Holiday decorations, costumes, gifts for next year)
- Compare prices online before buying any major item
- Practice the 24-48 rule. See something you like, leave it for 24-48 hours and then decide if you really want it
Credit Cards
“Yes” you CAN save money by using credit cards. The trick: you MUST pay off the balance in full each month!
- Transfer balances from high-interest cards to lower or 0% APR credit cards
- Use a cash back card to put money in your pocket
- Use a rewards card to get FREE stuff
- Look for cards with Sign-up Bonuses
Other
- more to come….