SAVE SMARTER NOT HARDER WITH THESE 9 TIPS
It’s a new year! Save more money in 2023 by adopting new habits. You’ve probably already heard the common tips like track your purchases with a spreadsheet or buy from store brands, so we put together some lesser-known strategies. We hope these practices help you keep a bit more in your pocket!
SAVE 10% OF YOUR PAYCHEQUE FOR THAT ITEM YOU WANT
Impulse buying is hard on the pockets. See something you really want? Set aside 10% of every paycheque for it. You’ll learn how long it takes to afford it and see if you still want the item later on. The sober second thought might lead you to use that money on something better!
MAKE COFFEE AT HOME
Those trips to the local coffee shop can really add up! A $4 drink here and there, sometimes with a sandwich… these costs can take a toll on the wallet. You could spend that $4 on a small container of instant coffee and use it for weeks or even months. Just think, you’ll be leaving a tip for yourself.
SET A PRICE BEFORE BUYING
When you see something you want, don’t look at its price tag right away. Instead, ask yourself, what’s the most I would spend on this? If the item is more than your imaginary number, then it’s not worth it. This is a really simple way to keep your purchases within budget!
EXTEND YOUR SHAMPOO LIFESPAN
You can extend your shampoo and toothpaste lifespan with few easy tricks. With shampoo and hand soap specifically, feel free to add some water to the containers instead. Also, check your quantities. It’s common for people to waste these kinds of products. When it comes to toothpaste, you don’t need to load up your brush as much as the commercials do. Dentists recommend a pea-sized amount!
Did you know that most vehicles use much more gas when driving speeds over 80 km/h? By slowing down, you can save lots of money on gas. Plus, you’ll be more safe, preventing the need to pay costs in case of an accident!
PRICE PER UNIT
Start looking at your costs per unit. Sure, that smaller bundle of carrots is cheaper, but is it really? Start calculating your costs in terms of individual items, and you might find that buying in bulk pays off in the long run. Keep an eye out for sales flyers from local grocery stores—you never know what sort of deals they’ll have on bulk items!
BUY FROZEN VEGETABLES
Do you find yourself tossing out veggies? That’s the same as tossing away dollars. Not only will frozen veggies save you from this, but they are often preserved soon after harvest—making them fresher than many veggies on the shelf. Frozen veggies also come in variety packs, so you won’t have to buy as many different types.
USE YOUTUBE TO DIY
It pays to learn how to do things yourself and YouTube makes that easier than ever. Is your gym membership weighing you down? Try various workouts posted by online trainers. If you have some light weights at home, you can get a real burn. Feel free to swap out weights with water bottles or other home items. The same thinking can apply to haircuts and minor appliance fixes. With a little time and patience, YouTube guides can make anyone much more self-sufficient.
JOIN A LOCAL BUY-NOTHING GROUP
“Give where you live” is the motto of Buy Nothing groups on Facebook. See if your local area or neighbouring areas have one! Have you ever driven by a house and seen a free chair in its front yard? Or perhaps you’ve had to move and tried to give away free furniture? Well, these groups are the online version of that! These local gift economies can save you money on anything, such as kitchen appliances, living room furnishings, books, food and much more.
We hope you’re excited to try these tricks and tips! Looking to build credit in 2023? Get started! If you’re looking to build a financial strategy, get in touch with one of our financial managers. We’re always looking to help people in Manitoba build credit and save money.