How to save money everyday?
1. Avoid impulse buying by taking the time to think things through and making a personal budget. Wait 24 hours or even a week before buying. This will help you put your needs into perspective and help you consume responsibly.
2. Reduce your electricity bill by applying the right reflexes.
Example: did you know that washing your clothes in hot water can cost up to 18 times more than washing them in cold water?
3. Buy house brands. They are less expensive than the major brands and often of just as good quality.
4. For your home improvement projects, rent tools you won’t use often. It’s more economical and you won’t clutter up your space unnecessarily.
5. Do you now have your morning coffee at home? You are saving without even realizing it. Set aside the amount spent weekly at the coffee shop to complete a project.
How to save money on groceries?
6. Shop for groceries after a meal or have a snack just before. Going there on an empty stomach would encourage you to spend more. And prepare a list to avoid impulse purchases.
7. Plan a budget and grocery list by checking online flyers for bargains. You can even use apps that specialize in deal aggregation.
8. Look at the upper and lower shelves of the aisles at the grocery store. The cheapest products are often placed there.
9. To find the most economical format: compare prices by quantity by consulting the labels on the shelves.
10. Prepare your own fruits and vegetables. Pre-assembled snacks can cost twice the price of unprepared foods.
11. Reduce your meat consumption to save on your grocery bill. Why not start with one or two meatless meals a week?
How to save money on transport?
12. Encourage trips by bicycle if possible. This is a convenient way to save on gas costs while practicing a sport. Also let your insurer know that you use your car less often and you could save money.
13. Bet on a used car if you can’t do without a vehicle for your trips. You will avoid depreciation. If not, have you considered a hybrid or electric vehicle? You will save on gas.
14. Before buying a car, use an online comparator to find a cheaper vehicle.
15. To lower your gas bill, take it easy. Driving at 100 km/h on the highway – instead of 120 km/h – can reduce fuel consumption by 20%.
How to save money on the Internet, TV and cell phone?
16. Analyze your usage patterns to see if you’re paying for excess.
Example: do you spend more time at home? Chances are you’ll spend less on cellular data. You could change your mobile plan to better suit your situation.
17. Consider renegotiating your plan. Sometimes all you have to do is ask for a discount and it will be granted to you. Shop around according to your actual usage patterns, and think about discount vendors or get a second-hand device.
18. Bundle your Internet, phone and TV services. This way you can save money.
How to save money on expenses for children?
19. Limit the number of gifts on birthdays and during holidays. Give homemade gifts or second-hand items. It’s good for the wallet and the planet.
20. Buy your children’s clothes at thrift stores. Several second-hand shops are available online. You’ll find durable parts at a fraction of the price.
21. By buying used hockey or ski equipment, you will save big. Some specialty stores even offer credit in exchange for your undersized sporting goods.
22. By contributing to a Registered Education Savings Plan (RESP), you could obtain government grants for your child’s future education.
23. Several CEGEPs and universities organize sales of second-hand books at the beginning of the semester where it is possible to obtain discounts. We can also make discoveries on social networks or in the discussion forums of the school.
How to save money on travel?
24. Encourage local tourism and go on an adventure in your own province, rather than crossing the oceans by plane and spending on accommodation costs.
25. You might find free accommodation for your next vacation. Consult sites specializing in this sector to follow the latest developments.
26. See if you should change your phone plan to avoid receiving a hefty bill if you visit another province or another country.
27. Being flexible with your travel dates could save you money. Analyze different dates for your accommodation. Leaving a few days before or after the anticipated date could be less expensive.
How to save money on outings?
28. Several cities offer free cultural activities, such as lectures, performances and visits to the online museum. A great way to have fun at a fraction of the price.
29. Host picnics at the park instead of ordering food online. It’s much friendlier and a great way to enjoy the summer. In addition, you will avoid food waste.
How to save money on financial services and tax?
30. An accelerated mortgage repayment could save you tens of thousands of dollars.
Example: by making an additional payment of $2,000 per year on a mortgage of $300,000, at a fixed rate of 5% amortized over 25 years, you will pay a total of $41,252 less in interest and you will pay off your mortgage more sooner than expected.
31. Try to pay off your credit card balances in full each month. Otherwise, watch out for interest (link to external site): a purchase of $2,000 at a rate of 20% comes to $4,240 if you only make the minimum monthly payment due.
32. Choose your bank’s ATMs by planning your withdrawals to avoid fees for each transaction.
33. Shop around for auto and home insurance each time you renew. Premiums vary a lot from one insurer to another. In some cases, you could reduce your premium by grouping all your insurance with the same insurer.
34. Consider participating in the pension plan for which your employer contributes an additional amount. You will contribute more and it is usually very advantageous.
35. If you are in a relationship and one of you is retired, you could split your pension income to pay less tax. This tax operation consists of transferring (on paper) part of the retirement income of the spouse with the highest income to the other spouse. If the wealthier person moves to a lower tax bracket, your couple will pay less tax.
Whether it’s shopping better or thinking before you buy, there are several ways to save money without depriving yourself too much. Start with the things that seem most realistic to you, and use the money saved to invest in your savings, insurance, and emergency fund. Above all, don’t forget to dedicate the rest to the projects that are important to you and to make an appointment with our specialists to support you.