8 tips to save money
Money, finances and savings can be an uncomfortable topic for some, and many of you have asked me how I can afford to live in the Okanagan and live by myself in such a high cost of living area. Over the years I’ve developed successful money habits to help me save and invest in my future, and I know they will be helpful to you, too!
These tips are things I have cut back on or eliminated to help me with my money saving habits! Here are my 8 tips to save money:
1. Not buying coffee out
$5 lattes will add up. I invested in a beautiful coffee machine. It was very expensive but worth every penny as I’ve saved SO much money since I love it so much. I think it makes all the difference in the quality of coffee machine you get as well so you’re not tempted to get a fancy coffee out.
2. Asking for reductions on bills (phone bill, internet bill, etc)
You’ll be surprised how many companies will lower your monthly bill by just calling and asking. This has happened to me many times with my phone bill, and if you call every six months or so they can eliminate your bill or offer a special promotion. (hint: threaten to switch to a different provider. When I moved into my apartment, Telus + Shaw were both competing for my business. Go with the company that will offer you a better rate).
3. Cut back on food spending (meal planning, easy meal kits)
Meal kits have been a life saver for me because everything is sorted out for you. I know if I have them sitting at home I won’t want to waste them and spend money on eating out instead.
4. If you do eat out, go during happy hour times
Many restaurants offer a really great happy hour where menu items are priced significantly less or 2 for 1 deals. Especially in the winter when it’s the shoulder season, many restaurants will offer their food and drink at discounted prices.
5. Withdrawing a certain amount of cash per week
You can take out a certain amount of cash per month, per week or every paycheque as your spending money so you can keep track. I find when money physically leaves my hand it makes me more conscious about parting with it!
6. Pay credit cards on time
I’ve been fortunate that I’ve been able to pay off every credit card bill in my life. I don’t recommend racking up a credit card bill and having that “I’ll pay later mentality”. I also try not using my credit card that much if possible.
7. Dollar store for every day essentials
Did you know you can buy almost ANYTHING at the dollar store for a huge discount compared to big box stores? Kitchen items, pantry food, storage boxes, cleaning products, you name it. A big one for me is birthday cards. You can buy a $10 card at London Drugs or $1 at the dollar store. Easy way to save a quick buck!
8. Grocery shopping with a list
Make sure you have a planned list and you never shop hungry! We’ve all been there when you’re starving and go grocery shopping hangry! lol. It never ends well. Make sure you eat before so you’re not tempted and have a list so that you will stick to what you need. Planning out your meals for the week before you go can also prevent you from making impulse buys.
Spend smarter, not harder! With a little bit of perseverance and habit changes, you will rolling in the dolla dolla bills!
Do you have any money saving tips that work for you? Let me know!