How to Save More Money on Everyday Expenses

Without a budget, it can feel like money just falls through the cracks and at the end of the month you have no idea where it went. Have you ever added up how much you spend on takeout or Starbucks in a month? Have you ever considered shopping around for a better price for cable, internet, insurance and other services? You might think that your monthly expenses are just inevitable such as groceries, gas, utilities, insurance, and housing, but it’s worth taking the time to see if you can save a bit more each month! This blog will share some of the best money saving tips you can learn on how to save more money!

How to Save More Money on Your Meals

Ah, takeout. While it helps you juggle all the responsibilities of life, the bottom line is eating out is technically a luxury… There are probably days when you don’t have the time or the energy to cook, which makes clicking a button on your smartphone so much easier, but the costs can add up so quickly. We have this ongoing phrase in my family, “eating out is overrated.” My parents taught us how to shop frugally and still be able to cook delicious and budget-friendly meals. It’s healthier AND cheaper (and even more delicious)! So, let’s talk about how to save more money on your meals.

• If you absolutely must order takeout, go for a pick-up option to save on delivery fees
• Plan your takeout meals in advance to avoid spontaneously splurges
• Make a coffee or tea at home instead of getting that daily Starbucks or Tim Hortons drink
• Find quick and easy recipes that your family enjoys (ie. sloppy joes, spaghetti or grilled cheese… any of these choices will cost a lot less than your typical cheeseburger meal-deal)
• Try slow cooker or instant pot meals – it does the cooking for you with very minimal prep time
• Cook large batches and freeze leftovers for when you don’t have time to cook
• Start a meal plan to help you buy only the groceries you need and prepare meals for your week
• Carry a granola bar or snack when you’re out to avoid hunger and temptation
• Price match at participating stores, buy what’s on sale, and use coupons

How to Save More Money with a Value Exchange

A value exchange is simply exchanging products or services with friends or family without monetization. Perhaps you have a friend who can watch your kids for a few days during the week, and then you watch theirs on alternating days to save on child-care costs. Or maybe you can find a friend who can give you a haircut in exchange for cleaning or cooking a meal (or something else – get creative!). This doesn’t just save you money but also helps build a stronger community of people that support each other.

How to Save More Money with a Credit Card that Pays

If you’re strategic about how you purchase your necessary expenses like groceries and gas, you can save more with certain credit cards! Do your research to find a credit card that offers 1% or 2% back on all purchases – some will even offer perks for specific expenses (groceries, gas, travel, etc.). When your points build up, you can use them towards all sorts of things – even simply to pay down your balance.

Another approach you can try is using cash back websites and customer loyalty programs for stores you frequent. But only use it if it makes sense for you. These programs essentially give you discounts and points that can be redeemed towards purchases. If you know you are going to purchase those items anyway, you can save a ton! Just be careful that you don’t buy unnecessary items just to get the deal. 

How to Save More Money on your Home & Mortgage

If your mortgage is up for renewal soon, now is a perfect time to shop around for some of the lowest interest rates Canada has ever seen! If you take the time to research and find better rates, you could save thousands of dollars (even tens of thousands!) on your mortgage and even lower your monthly payments. Reach out to a mortgage broker to discover how to save more money.

You can also learn how to save more money on your home utilities with these Energy Saving Tips.

How to Save More Money on Your Insurance Premium

Maybe you haven’t shopped around in a while – do you know that you’re getting the best price for insurance? It never hurts to get a few different quotes when your renewal is coming due. Our BIG brokers would be happy to get you a free, no-obligation quote to help save you money on your insurance.

You can also call your current provider to see how you can save more money on your home insurance and auto insurance. Insurers often offer lower rates for homeowners who have done upgrades such as: a backwater valve, alarm system, renovated roof, electrical or plumbing and more! Buying a good used car instead of a new will also save you a lot of money. You can also get discounts for having snow tires on your car and combining your insurance for a bundled price.

 

These may seem like small changes but the money adds up quickly. Just from cutting out one takeout meal a week, you could be saving $60! After reading these ways of how to save more money, and with just a little discipline and intentionality, these savings can give you extra cash-flow for the things you want for your future. If you need help with your budgeting and financial planning, our BIG team can help! Contact us to learn more.