More and more people are having conversations about their financial well-being.
Their concerns are mostly raised when they find themselves in debts and can’t figure out why they are unable to stick to their budget.
If you find yourself is this situation and are looking for money saving ideas, then good for you, you are in the right track!
I love talking money saving ideas and strategies.
And honestly, who doesn’t like having more $$$ in their pockets? Surely everyone does 😉
So now what?
You search google and you start browsing and reading blogs and articles about the subject.
You find different ideas and different strategies but with most of them you have to choose between a necessity and a practicality.
No one should have to choose between the two as there are ways to live comfortably and save money even when you’re on a restricted budget.
I’ve put together a list of 10 simple and realistic ways to save and have more money in your pocket all while enjoying life at its best.
# 1: Reduce credit card usage and take advantage of bank promotions.
Now this sounds complex but really, it comes down to making time to go through your wallet and doing some triage in there! As simple as that.
Make some phone calls to find out what your interest rates look like and pick the card with the lowest interest and transfer all your balances.
Once you’ve done that, you can focus on paying it in full every month.
Same principle applies to bank accounts, make some phone call to find out about promotions and switch over to take advantage of them.
# 2: Buy an income generating property.
This is by far your best choice when looking to buy a property.
Why buy a single home and pay high mortgage when you can invest in an income generating property, live in it and take advantage of rented units to cover your expenses.
Now that’s the beauty of real estate investment.
# 3: Cook/bake more at home.
There are endless benefits to home-made food.
First, you always know what’s in your food because you’ve made it from scratch (Well, at least what you can make from scratch!), and with time, you will have more knowledge about your food than you ever thought possible.
Second, a healthy mind is in a healthy body. When you eat healthy, your whole body will thank you because you’re only absorbing good nutrients and your fuel becomes efficient, so you function better.
This will lead to less fluctuations in weight gain and if your goal is to lose weight, then you will.
Finally, taking the time to cook or bake is a kind of meditation and it does help the body relax since your mind and body are working in tandem, it brings some kind of peace and relaxation.
# 4: Search for bargains before you go shopping.
Alright, everyone should know this.
There are so many free apps like flip, coupons, checkout51 and other where you can find discounted products in different stores and coupons to get a discount.
I always use these apps when out and about. It really makes a difference when shopping.
Also, make sure you buy in bulk when you can especially non-perishable items which often go on sale.
# 5: Swap stuff on the internet.
Now, this is my favorite strategy as it helps get rid of anything you don’t use anymore, instead of taking room in your closet.
I have 2 young kids and there are a lot of stuff you could trade from toys to clothes to baby monitors to car seats to strollers, you name it.
Check out some websites or do it in a store near you. You’ll be amazed what you can swap online.
# 6: Avoid buying old cars.
Lemons are lemons and there’s no changing that. Do yourself a favor and buy a fuel efficient car.
There are so many out there that it becomes a no brainer to find the right one for yourself.
It doesn’t have to be a hybrid or electric as these are expensive options, but if you can afford it, you’ll yourself a favor and the environment too.
# 7: DIY (Do it yourself) when possible.
Again, this is only realistic if you are a handy person and you like learning new skills.
Be careful though cause DIY can cause stress if you don’t enjoy learning or you just hate spending time doing stuff yourself. This isn’t for everyone, sorry!!
# 8: Declutter your home.
This is linked to swapping stuff. You’d be amazed how much unused crap is in your closets.
It is time to sort through it and get rid of anything you no longer use.
A time will come when you’ll be forced to do it anyways, if you’re moving for example, so you’ll thanks me later 🙂
# 9: Get rid of unused memberships/subscriptions.
Aren’t we all guilty of this bad habit? Why do we keep throwing our money out the window? Not cool! this has got to stop.
If you get a gym membership, show up for your workout or cancel your membership.
This is an investment in your health and well-being and you won’t see results if you don’t show up.
You can alternatively workout at home. There are plenty of exercises which do not require gym equipment.
Same applies to magazine subscriptions, cable TV, etc. If you’re not using it, then you can’t justify having it and paying for it!
# 10: Look up free/affordable activities.
My favourite way to enjoy life with my family without worrying about cost.
There are tons of activities you can do solo or with your family (if you have a partner and kids), indoors and outdoors, summer and winter, without going broke.
Summer time is easier as you can enjoy outdoor activities such as hiking, simple walks in the park, a visit to the beach (if you have one near) or a lake will do, register in free community events, etc… Winter time is tougher especially with kids since you constantly have to keep them busy.
Some ideas for indoor activities are a visit to the nearest library, community playgroups, public indoor community swimming pools, etc…
I hope you enjoyed this post. If you have any questions or concerns, you can leave them in the comments below and I will be glad to respond.
Have a great day!