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Simple Ways to Save Thousands

Simple Ways to Save Thousands

  1. Avoid Impulsive Spending
  • Stick to your grocery list! Studies show you can save up to 23% on impulse purchases just by writing and sticking to your grocery list.
  • Don’t shop with plastic (debit or credit cards)! People who pay with plastic will pay between 12-18% more than those who pay with cash.
  1. Stockpile Groceries
  • By stockpiling when groceries are on sale, you will be able to save 25% and actually be in a position to skip the next grocery shop day! Items to stockpile include food you can freeze, such as bread and meat, as well as non-perishable food items.
  1. Price Match
  • Did you know most stores offer a price match? Just bring in those flyers and you’ll be surprised at how much you can save by price matching.  It all adds up.
  1. Take a Lunch to Work
  • By taking a lunch to work, such as dinner leftovers, or making yourself a sandwich you can save $1,800 a year. It’s simple math, the average lunch costs $7, and if you work every day, well … you get the point.
  1. Buy a Quality Used Vehicle
  • Cars are being made better than ever and there is no shame in buying a quality used vehicle. When you buy a brand new car, it loses 20% of its value in the first year alone.  On a $50,000 car, that is like throwing nearly $1,000 a month away for 12 months straight!  Wow, now that’s perspective.
  1. Pay Off Your Credit Cards
  • If you carry a $5,000 balance with a 19% interest rate, that’s an additional $1,000 a year to your credit card company.
  1. Appeal your Property Tax Assessment Value
  • Be sure to check that your property taxes are based on your current home value. It is possible your house has decreased in value and you are paying more than you should.  You are able to apply for a reassessment.  This may save you thousands of dollars.

 

More Savings Tips:

  • Save your change
  • Don’t buy a coffee to go every day (Tim Horton’s, Starbucks, etc)
  • Make a budget and stick to it
  • Don’t carry a lot of cash or credit cards on you
  • Before making a large purchase, think about it for a day. If you can’t live without it, buy it, if you’ve forgotten about it or reanalyzed the situation, walk away!
  • Use coupons
  • Only buy things on sale, if possible
  • Shop at discount stores
  • Avoid brand name if possible
  • Pay off your credit card and you’ll collect cash back or points – it’s like a bonus!
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