Steps to Save Successfully
The world is full of potential savers who cannot make ends meet with ease. With this guide, we hope that it will be much easier for you to start taking the first steps to save.The fault that saving is a stranger is the poor financial education with which many have reached adulthood and that has led to perennial apathy.
For generations, social dynamics and the class hierarchy have eroded the aspirations of the ordinary citizen and condemned him to live on an unambitious economic threshold.
Unfortunately, for many, money is a constant reminder of their own limitations, when in reality it should be a tool of liberation . As a result of this confusion, there are those who have developed a tense and distant relationship with their own finances, managing them from misinformation and even from fear.
This guide summarizes the keys to saving in 5 steps. Some people will be able to do the first steps quickly. But it is critical for a good savings plan that we have the calculations well done to be able to have constant and comfortable savings.
A solid savings plan will help us end financial clutter and frustrations thanks to good financial planning based on these 5 key pillars for saving. The goal is to create a strategy that allows us to take control of our finances and finally start saving successfully.
The 5 steps to saving are as follows. Below we will analyze each one in detail:
1. Analyze your finances
Every savings plan begins with an in-depth analysis of the real state of personal finances.
In this first point we must study in depth 3 aspects: Income, expenses and debts (if any). The deeper the analysis, the more faithful the portrait of our situation will be and the better we will be able to prioritize and discriminate expenses.
This step is laborious and takes some time, but don't panic. Once you have it, you will have covered the most important part of the way.
When it comes to addressing the status of your income, expenses and possible debts, we propose the following questions as a guideline for doing the exercise:
1.1 Income
Write down the answer to the following questions to know as accurately as possible what your income is:
What is my income?
How often do I receive them? Is there an exact date or is it variable?
Will I receive any extras soon?
They owe me money? How much and when will it arrive?
In addition, not only the amount of income is important but its stability. Is there a risk of job loss or payroll reduction? Anticipating this setback is essential.
1.2. Expenses
This block is the most complex to measure because the amount of expenses as well as the frequency and type must be taken into account. In this case we would ask ourselves the questions:
How much have I spent in total this month?
In what?
How much money has each expense taken?
As we address these questions, we will categorize expenses according to whether they are:
Fixed expenses : Those that we must face obligatorily every month and in a stable way over time. They are the basics that we cannot do without. In this bag would enter the rent or mortgage, bills, food, etc.
Extra fixed expenses : In this subcategory we would include regular expenses that are not essential, but that are part of our day to day. Some examples are: gasoline, car insurance, subscriptions to streaming platforms , Internet, gym fees, courses and classes, etc.
Variable expenses : These expenses would include material whims and everything related to leisure: restaurants, movie tickets, hobbies , etc.
Ant expenses : they are not usually given importance because they are indirect and sporadic expenses, but in the long term they take a lot of repercussion. We will identify them as those small expenses that go unnoticed but that are constant and that normally derive from bad consumption habits. Example: Do you usually throw a lot of food? If so, begin to remedy it.
Unforeseen : Have any emerged recently? Do you envision another that may occur in the near future? Sometimes we believe that they are unforeseen what really are distractions and lack of anticipation. If your mobile has failed you lately, jump into this problem and you will be able to face it more calmly on the day you have to repair it or pay for a new one.
1.3. Debts
What debts do I have?
What is the magnitude?
And the level of urgency?
Is there one that is about to be liquidated?
Saving and borrowing were never good friends, so it is essential that you be honest with yourself and put all outstanding debts on the table. Forgetting them or turning a deaf ear will only make the problem worse and prevent you from saving once and for all. Face them. Of course, remember that debt is not bad, what is bad is excess debt.
Once you have identified and organized your expenses well, it is time to clean up and question your habits and consumption patterns. It is not about punishing yourself but about identifying what you have been doing wrong all this time.
2. Prioritize expenses
Surprised with the analysis of your finances? Stepping back and taking a general portrait of your finances is the most effective way to identify weaknesses.
In the second step to save, take the map of expenses and begin to discriminate between those that are real and those that are superfluous. This exercise requires a calm and rational screening, since future savings will depend on it. Here is an example:
Priority expenses : This is where fixed expenses, fixed extras and debts come in. Although the first two are real and necessary, do not resign yourself to overpaying for them. Compare offers to save on utility bills and see if your current rent is worth it. You will still have fixed expenses, but they will better fit your needs. As for the extras, check if you are taking advantage of your annual Spotify subscription or if you can replace the car with a cheaper and more ecological alternative. We insist: it is not only a question of eliminating unnecessary expenses, but of readjusting the priority ones.
When it comes to debts, they should always be preferred. The important thing is to face them to get clean as soon as possible. Take advantage of payments and injections of extra money to pay off your debts soon.
Superfluous expenses : Eliminate the ant expenses that anchor you to bad habits and that contribute to waste. Regarding variable expenses, try to have leisure well controlled by managing your outings so that they fit into a closed budget. This point is the one that requires the most willpower and the most difficult to fulfill, but remember that variable expenses have no limits unless you put them on yourself.
Savings : It is not an expense, but from now on we will value it as such. If we want to save consciously, we must consider saving as a priority and go to meet it. It is advisable to have it as a fixed expense at the beginning of each month, so we will ensure that the financial cushion is growing.
3. Make a budget and control it
Once we have the financial analysis and the selection of important expenses, now it is the most important step: Make a budget and carry it out.
First of all, it is important to know the difference between saving and investing . Basically, when we save we are saving money to use in the future. On the other hand, when we invest we also seek to obtain a return on that money that we have saved, that is, the investment is a step beyond saving. We save first and then we can decide if we want to invest it and thus obtain returns from our savings.
In this guide we are going to focus mainly on the saving part, since to start any path it is important to start with the first step.
There are many ways to start saving. To do this, first of all we will have to know how much of our income we can allocate to savings. One of the best known expenses is the 50-30-20 law, but there are more ways to do it, since its effectiveness depends on the volume of income. Taking into account this model, we will dedicate 50% of the salary to fixed expenses and fixed extras, 30% to variable expenses and 20% to savings.
A good trick to save is to separate the account where we have the money saved, from our account where we have the expenses, because this way, in addition to avoiding temptations, we will see how the money in the savings account increases just by the amount that we have established.
To achieve constant savings, one of the best ways is to schedule a periodic transfer from our account where we receive the income to our account where we have the savings. Through this automatic transfer we can establish that 20% of our income (or the percentage that can be saved) goes directly to our savings account. Thus we will not be able to use that money and we will not have it for our expenses, avoiding temptations and thus helping us to have an iron discipline of saving.
To apply and update this guideline, you will need to use control tools:
Savings account: It is very important to have an account where we can separate the money that we are going to save from the money that we use for our expenses. In this savings account we can keep the money in cash, have a term deposit , or even go further and invest it. If we want to obtain more performance from our savings we can invest it, either in stocks, bonds or investment funds, among other alternatives.
Savings app: Automating is the most comfortable and effective way to keep the economy at bay. Therefore, there are applications that facilitate this task. One that we recommend from Economipedia is Goin, a savings app that allows you to make periodic transfers from your bank account to your Goin piggy bank. In addition, you also have the option of withholding a percentage of your payroll just when it is collected. Not having this money available in the bank keeps you away from temptations and helps you plan better. You just have to indicate the dates and the quantities you want. You can have the money back in your account whenever you want.
Bank Alerts: Technology has its pros and cons, but banking applications have improved in this regard. Some of them allow you to generate alerts so that you are aware of when you have exceeded a certain spending threshold.
Envelopes: This option is the oldest. We can withdraw the money from our account and store it in cash envelopes. On the other hand, for many people it will be difficult to have the savings envelope close and not be able to touch it. It is also somewhat uncomfortable and dangerous to carry all the cash.
Excel : It is the new paper and pencil to keep the accounts up to date. Although it is important to keep it simple. In fact, it is only recommended if you are an extremely organized and constant person, otherwise this system will be discouraging and you will end up leaving it aside. For this reason, automatic tools that do this work for us are more recommended. If, on the other hand, you are a very organized and constant person, it can be a very useful tool to keep accounts up to date.
4. Start saving
Once you have taken the first three steps to save, it is time to jump into the ring. From now on, firmness and perseverance are essential, so it is important that you stay motivated by remembering your savings goals. They should be achievable and positive goals where possible, or else the process will become exhausting.
Especially if you are just starting out, it is essential that you automate savings and take tools that turn this process into a comfortable, accessible and positive experience. All motivation is little to achieve your goal at the end of the month.
Our most important tip? The best time to start saving is now!
5. Review the process and the first four steps to save
After a while, check to see if it worked as you expected or if it didn't meet your expectations. Whatever the result, spend a little time at the end of the month to measure and control the financial decisions you made at the beginning (1. Analyze your finances) and make the necessary adjustments. You will need to modify the savings plan until you find the right key.
It is also important to take into account the different times of the year, if it coincides with the Christmas holidays or summer holidays, or if you are going to embark on a personal stage that demands extra savings such as a wedding, a special gift to someone, the buying a flat, a car, etc. The personal financial situation is changing, that is why you must keep the savings plan always updated.
In the end, remember that you are the owner of your economy and that money works for you and not the other way around. When you have carried out these 5 steps to save, you will be fully capable of comfortably tackling the scenarios and situations that arise. Now it's your turn.
see also finance and business knowledge
Annuities Meaning
Finding Travel Insurance For Cancer Diagnosis
How Does the Stock Market Work
Top 10 Ways to Make Money Online
10 Legit Ways to Make Money and Passive Income Online
10 Ways To Cut Your Health Care Costs
The Ultimate Assurance of Buy-sell Agreements
5 Tips to Prepare for Your Property Settlement
8 Habits of Wealthy and Successful People
Why Millennials Choose to Buy Home
7 Tips Every Homeowner Need to Know About Insurance
8 Tip on Homeownner Insurance
10 Question You Should Ask Mortgage Lenders
How Much is My Car Accident Settlement Worth
200 Business Movement News
150 Financial Tip You Should Know
Essential List of Mortgage Application Document
Prepare Yourself Before Investing in Stock
Shopping is the Right Way Without Debt
Factors Affecting Home Loan Rates
Using Credit Cards With No Debt
Plan for Business Loans
Step Before Buying Insurance
Choosing Life Insurance
How to Get Cheap Car Insurance
If in Debt With a Credit Card
Type of Insurance
How to Request a Claim
Deposit With Banks or Take Out Insurance
Why Do We Need Life Insurance
Insure Assets and Liabilities How is It Different
Contract for Buying a House
Happy if in Debt
Can Not Pay the Car Installments
16 Most Important Car Insurance Terms
Want to Use Urgent Money Where Should I Request a Loan
Save Money in Stocks
How to Have a Home
Plan Before Retirement
Plan for Repayment Carefully
50 Financial Movement You Should Know
How You Can Hit the Heights While Plunging to the Depths
10 Ways to Cut Your Health Care Costs
Tips for Handling an Employee's Departure
How to Get Your Product Onto Retailers' Shelves
A List of Pointers for Low-cost Promotion
A Field Guide to Office Colleagues
How to Get Your Tqm Training on Track
4 Excuses to Use Unconscious Credit Cards
Be Careful Terms of Insurance Agreement
Changing a Home to Pay Off Debt
Want Money to Invest
Credit Card Addiction Symptoms
How to Manage Credit Card Debt if Lose Job
What is Private Fund
Loans for Education
10 Things That Lead to Poverty
Do Not Overlook Insurance
There Are Also Saving on Debt
10 Things You Need to Do Before Retiring
Seed Funds for the Smallest Start-ups
Health Insurance Managed Care Can Cost More
States Go for Bold Changes
Outside Directors: How They Help You
Helping Your Children Plan for a Distant Future
The Tax Advantages of a Home Office
Job Skills Have Declined Firms Say
American Get More for Their Money
Boost Your Problem-solving Power
Finding the Essence of Good Sales People
Suggestions on Selling Your Service Firm
Warming to the Idea of Customer Feedback
It's Timely to Consider Still Another Inequality
More Tax Cuts Coming
Vice Presiddency Becoming More Attractive Goal
Turn Anger Into an Asset
Making the Most of Trade Shows
Ideas for Making the Most of Time on the Road
The Benefits of Smart Inventory Management
Policies That Protect a Company's Good Name
Market-neutral Funds May Offer Solace if Stocks Tank
Bargains in Business Insurance
Bills Would Affect the Hiring of Skilled Foreign Workers
The Ups and Downs of a Postal Rate Proposal
Locking on to Teamwork
Nurturing Part Timers to Be Entrepreneurs
Holding Things Together When Selling A Location
Knowing When Cut The Cord
A New Selling Approach Makes Fashion Sense
Too Much Team Harmony Can Signal Trouble
Oiling The Wheels Of Consumer Satisfaction
Networking 101: Seeing And Being Seen
Nuts About Snack Food
A Jet-Powered Takeoff
Grooming For Success
Switching to Self Insurance
Promoting A World Ethical Standard
Help Wanted Desperately
How to Get a Yes From Your Banker
Lawmakers Have Their Work Cut Out For Them
Making The Climb Onto Store Shelves
Hammering Home Performance Incentives
Have You Seen Your Banker For Your Annual Checkup
Protect Your Company's Proprietary Information
Adding Some Byte To Retirement Plans
From The Ground Up
Pluses And Pitfalls In Voice Mail
Lawmakers Have Their Work Cut Out For Them
Making The Climb Onto Store Shelves
Market Bulls Battle A Case Of Nerves
Check The Fine Print In Picking A 401 (k) Plan
5 Pitfalls Make Your Work Inefficient
Wrong Stock Investing
What is a non life insurance
5 things to do if you want to succeed
5 steps Emphasize the use of credit cards correctly
Unemployment can be saved by doing 5 steps
Obstacles that prevent from saving
Want to be rich do these 3 things
New to the stock market
Change the attitude of saving with 3 steps
Home loan Not difficult anymore
Start investing is not difficult
Come check the finance health
Live 3 items for solving the poor
5 wrong financial views Risking destruction
4 things that should not be overlooked for Save money
Wise financial planning techniques for the family
5 mistakes checklist when buying insurance
5 reduce the risk of doing business
3 risk levels that must be known before investing
Advantages and disadvantages of Requesting a loan
Saving The US Economy
What price loyalty at Vodafone
Alphabet soup and economic recovery
Our growing nostalgia for commuting
Financial alchemy
Personal credit
4 principles of financial success
Buying housing is not a big deal anymore
Essential insurance
How to teach your child to be wise With the use of money
6 Collection techniques That a salary man needs to do
How to choose a credit card that best suits your needs
Beware The Scammers out to empty your bank account
Avoid The Traps Set By Estate Agents
10 Ways To Cut Your Health Care Costs
What is the stock market
Adjust the idea of adding value to your business
How ready are you for down
10 techniques to use money
10 Ideas To Conquer Stocks
10 Year Retirement Plan
Factors That Make Your Finances Worse
Eliminate 5 Weaknesses to Create Success in SME
Retirement Investment Plan Longevity Simpler
5 Secrets to Financial Freedom
How to Invest Without Losing
Do We Need Too Much Money
8 Alarms When Finances Are in Trouble
How to Use Money Saving Techniques
Credit Card Debts Not Difficult Anymore
Long Term Savings
Financial Matters Young People Should Know
The 5 Phases of Money Flow
Youth Fever for Cryptocurrencies
Economy Versus Demagoguery
Resistance to Organizational Change
What is Production budget
What are the Goods in Commission
What are Returns on Purchases
What are Pre Operating Expenses
What is a Technical Organization
10 Types of Credit Securities
5 Main Types of Business Organization
What Is a Business Advisor
What is the Personification of Accounts
What Is Expense policy
6 Stages of Administrative Organization
Social Responsibility of Institutions
What Is Business Environment
Forms of Organization of Economic Entities
Top 9 Functions of a Salesperson
7 Duties of an Accounting Clerk
7 Most Outstanding Comptroller Functions
What Is Bookkeeping
What Are Taxes Payable
Armand Feigenbaum Biography
What Is Zero Base Budgeting
What Is Chart of Accounts
What Is Sensitivity Analysis
What Is Purchasing Department
Origin of Business Management
What Is Administrative Organization
What is Cost Accounting
What Is Organizational Structure
What Is Nominal Salary
What Is Centralization In Administration
What Is Payable Documents
What Is Indirect Labor
What Is Going Business
What Is Commercial Paper
What Is Delivery In Business
What Is Equivalent Units
What Is Income Centers
What Is Indirect Materials
What Is Purchase Requisition
What Is Internal Accounting Control
What Is Administrative Management
What Is Political Environment of a Company
What Is Purchasing Budget
What Is Consignment Merchandise
What Is Organization Expenses
What Is Unpaid Balance
What Is Logistics Operator
What Is Flexible Budgeting
What Is Government Accounting
What Is Financial Leasing Companies
Mergers and Acquisitions of Companies
What Is Acquisition Financing
What Is Acquisition Accounting
What Is Operating Leverage
What Is Top management
What Is Operational Audit
What Is Cost Systems
Who is Vittorio Mincato
Initial Public Offering Backed by Venture Capital
Who is Vittorio Mincato
What Does On Account Mean
The Cryptocurrency Tether
Whether Cryptocurrencies Will Fall to Zero
Primitive Time of the Administration
6 Tips for Choosing Health Insurance
What Is a Structured Settlement Annuity
Benefits Behind an Annuity or Structured Settlement
8 Easy Ways to Save Money
Sometimes the hardest thing about saving money is getting started. This guide to saving money can help you step-by-step to develop a simple and realistic strategy so that you can save for all of your short-term and long-term savings goals.
Record your expenses
The first step in starting to save money is determining how much you spend. Keep track of all your expenses; That means every cup of coffee, household item, and cash tip. nce you have the information, organize the numbers by categories, such as gasoline, grocery shopping, and mortgage, and get the total for each. Use your bank and credit card statements to make sure everything is correct and that you didn't forget anything.Tip: Get a free spending monitor to help you get started. Choosing a digital program or app can help automate part of this task. Bank of America customers can use the Spending and Budgeting tool, which automatically categorizes their transactions to make budgeting easier, on the mobile app or online.
Budget for savings
Once you have an idea of how much you spend in a month, you can start to organize the expenses you recorded and establish a budget that you can live with . Your budget should give you an idea of how your expenses compare to your income so that you can plan for your expenses and limit overspending. Be sure to take into account expenses that occur regularly, but not every month, such as car maintenance.
Tip: Include a savings category, and try to save 10 to 15 percent of your income.
Find ways to cut your expenses
If your expenses are so high that you can't save as you'd like, it may be time to cut back. Identify nonessential categories that you can spend less on, like entertainment and eating out. Find ways to save on your monthly fixed expenses like television and cell phone expenses, too.
Here are some ideas to cut down on everyday expenses:
Use resources such as community event listings to find free or low-cost events to reduce entertainment expenses.
Cancel unused subscriptions and memberships, especially ones that renew automatically.
Aim to eat out only once a month and go to places that are in the category of "cheap meals".
Give yourself some "time to reflect" - When you're tempted to make a nonessential purchase, wait a few days. Will you be glad you didn't, or be ready to save up to do it.
Set savings goals
One of the best ways to save money is to set a goal. Start by thinking about what you might want to save for, maybe you're getting married, planning a vacation, or saving for retirement. Then decide how much money you will need and how long it can take to save it.
Here are some examples of short-term and long-term goals:
Short term (1 to 3 years)
- Emergency fund (3-9 months to pay for daily living expenses, just in case)
- Holidays
- Down payment for a car
Long term (4+ years)
- Down payment to buy a home or remodeling project
- Your children's education
- Retirement
If you are saving for retirement or your children's education, consider putting that money in an investment account, such as an Individual Retirement Account (IRA) or a 529 plan. Although investments come with risks and can lose money, too They present the opportunity to grow when the market grows, and could be convenient if you plan for an event well in advance. See step no. 6 for details.
Tip: Set a small, achievable, short-term goal for something fun, and big enough that you won't have the cash to pay for, like a new smartphone or holiday gifts. Reaching smaller goals, and enjoying the nice reward you've saved for, can give you a psychological boost that makes the rewarding feeling of saving more immediate and strengthens the habit.
Decide what your priorities are
After your expenses and income, your goals are likely to have the biggest impact on how you distribute your savings. Make sure you have long-term goals in mind; It is important that planning for retirement does not take a back seat after short-term needs.
Tip: Learn how to prioritize your savings goals so you have a clear idea of where to start saving. For example, if you know that you will need to replace your car in the near future, this would be a goal that you can start saving for now.
Choose the right tools
If you're saving for short-term goals, consider using these FDIC-insured deposit accounts:
- Savings account
- Certificate of Deposit (CD) , which freezes your money for a fixed period of time at a rate that is generally higher than savings accounts.
For long-term goals consider:
FDIC-insured Individual Retirement Accounts (IRAs), which are tax-efficient savings accounts
Securities, such as stocks or mutual funds. These investment products are available through investment accounts with a broker dealer. Remember that securities are not FDIC insured, are not deposits or other obligations of a bank, and are not guaranteed by a bank. They are subject to investment risks, including the possible loss of your capital.
Tip: You don't have to choose just one account. Take a careful look at all of your options and consider things like minimum balances, fees, and interest rates, so you can choose the products that will best help you save for your goals.
Make automatic savings
Almost all banks offer automated transfers between your checking and savings accounts. You can choose when, how much and where to transfer money, and even split your direct deposit so that a portion of each paycheck goes directly to your savings account.
Tip: Splitting your direct deposit and setting up automated transfers are easy ways to save money, since you don't have to think about it and generally reduce the temptation to spend the money instead of saving it. With Mobile Banking and Online Banking, Bank of America customers can easily establish automatic transfers between accounts.
Watch your savings grow
Review your budget and see your progress each month. Not only will this help you stick to your personal savings plan, it will also help you quickly identify and correct any problems. Knowing how to save money can even motivate you to find more ways to save and reach your goals faster.
8 Tips to Save Energy in the Summer
When we think of saving energy, we mainly think of winter. But you can also save energy in the summer. These summer tips will help you with that.
Keep the house cool
It is best to keep the sun out of your home as much as possible. It may seem uninviting, but by leaving the sun protection (shades or curtains) down during the day, your house will heat up much less. Close your windows and doors during the day and only open them when it is cooler outside than inside.
Use nature or a fan, but no air conditioning
It is often cooler in the evening, at night and early in the morning, so feel free to open a number of windows or doors against each other.
Do you still need extra cooling at home? Then opt for a fan instead of air conditioning. The use of an air conditioner is considerably more expensive than a fan and that easily saves a few tens per year.
Dry your laundry outside
You may use a clothes dryer in the winter. But in the summer you can also use the natural drying sources: the wind and the sun. A rotary dryer in the garden or a clothes rack on the balcony is a free clothes dryer.
Spray the garden with rainwater
Every year we water our garden with hundreds of liters of drinking water. Of course, your garden needs water in the summer. How do you prevent a dried out garden, but do you water as budget-friendly as possible? Use a rain barrel to collect rainwater!
A rain barrel can save hundreds of liters of water every year. In the Netherlands, 1 out of 6 garden owners already collects garden water from the rain barrel (source: Milieu Centraal ). Is there a swimming pool in the garden for your (grand)children? Then you can also reuse that water to water the lawn.
Get rid of the (possible) extra fridge
Some families have an old refrigerator in the shed for ice cream, beer or frozen products. However, that second refrigerator is often an old creature and consumes a lot of energy unnecessarily. On average, a second refrigerator consumes tens of euros of electricity per year, but if the refrigerator is older and less efficient, that amount quickly increases.
Use solar garden lighting
Cozy in the garden in the evening, but not sitting in the dark? Use solar powered garden lighting. The lamps can soak up the sun all day, so you can sit in a lit garden in the evening. This also saves you having to extend power cables to the garden.
Turn your heating off or on summer mode
With the thermostat set to summer mode, you prevent the heating from starting at times when it is slightly cooler in the house, for example if you open the windows and doors in the morning or in the evening. A shame if the thermostat sees that as a signal to start heating – especially in the summer!
Turn off devices
Devices that are continuously on give off heat in the house. For example, think of laptops, lamps and (game) computers. Cooking also makes the house warmer, so opt for a fresh salad instead of a hot meal in hot weather.
15 Things You Should Never Buy at Gas Stations
Many of us spend thousands of dollars every year at gas stations… and not just on gas! Get better value for your money the next time you stop to refuel by avoiding buying these items.
Magazines
While you're lining up to pay, a magazine's headlines and cover page grab your attention… Don't give in to buying this copy of the latest gossip magazine. Gas stations and grocery stores place these kinds of items (magazines, treats and gadgets) in strategic places near the cash register, to grab your attention. And when it does, they cash in on your impulse buys.
Sandwiches and wraps
A 2016 survey by HuffPost reveals these findings from a food safety inspector: Many gas stations were not storing food properly. Normally, perishable products like sandwiches and wraps should be kept at a temperature of 4 ° C or less. Beyond this temperature, they become places conducive to the proliferation of bacteria and viruses that can make you sick. So, before you indulge in this turkey wrap, make sure the refrigerator thermometer isn't reading over 4 ° C. HuffPost also recommends choosing products near the cooling element and avoiding foods at the top of the stack.
Soft drinks
Each year, the 7-Eleven convenience store in the United States sells 45 million gallons of fountain soft drinks. According to this chain, that's enough liquid to fill 68 Olympic swimming pools. However, it's best to think twice before filling your glass: Due to the moisture that builds up inside the machine, soft drink dispensers are an ideal environment for mold growth. Ban Coke and 7-up , and opt for water in your bottle instead. When you think about the costs of these drinks and their negative health effects, your wallet and waistline will thank you!
Hot dogs
If the sodium and fat content of hot dogs doesn't stop you, think about how they were stored. Hot foods should be stored at 135-140 ° F to prevent bacteria growth. The storage of hot food at gas stations is rarely within standards - always according to HuffPost. We suggest that you avoid hot dogs at the bottom of the heating rack, especially if they have a "glassy" appearance. There is a good chance that these sausages have been stagnant on their shelf, at low temperature, for too long.
Bag of chips
A small (28g) packet of Lay's Potato Chips contains 146 calories, which at first seems harmless… until you find out that more than half of those calories are from fat. And that's without counting its sodium content. Additionally, you should always check the product's expiration date before purchasing it - especially at a gas station. The HuffPost investigation found that expired food was one of the most common food safety violations at gas stations.
Memories
From key chains to decorative napkins: anything with the name of a city or province is not worth the money you spend to buy it. Not only will you pay a premium price for a cheap item, but souvenirs bought at gas stations are designed to entice you to spend more while you stop. Take photos of your trip, they will be much better memories (and much more economical!).
Coffee drink
Stay away from mokas and slats as well. Between the milk, syrup, and all the other added ingredients, the calories in this drink can add up quickly. An average mocha with 2% fat milk and chocolate sauce, for example, could have up to 660 calories and 8g of fat. Worse, swallowing a Starbucks Vanilla Bottled Frappuccino is like eating 32 Nilla Cookies.
Energy drinks
Sometimes when you need a little “boost” on the road, a large energy drink might seem like a good choice. The contents of this kind of drink can give you a boost, but research shows that it can also lead to heart problems, anxiety and insomnia. With about 62 grams of added sugar per 16-ounce packet (that's the equivalent of six Krispy Kreme donuts!), You'll be consuming far more than your recommended daily intake of sugar.
Cupcakes
Beware: Cream-filled cupcakes can contain around 35g of sugar and 16g of fat - and almost 50% of the recommended daily intake of saturated fat. On the other hand, chocolate chip cream pies can contain 33 g of sugar.
If you're in the mood for something sweet, opt for trail mix or dried fruit instead.
Beer and wine
Unless your favorite beer is on special at the gas station, you'll find the same brands in the grocery store, for much less. For wine, avoid these kinds of places at all costs: it's not a question of price, but a question of taste!
Nachos
It's no secret that nachos are NOT a healthy option. But it turns out that they can also be fatal. In 2017, one person died and several others were hospitalized after eating contaminated nacho sauce at a gas station in California.While these kinds of cases are rare, gas stations try to do multiple things at once, which can cause them to slow down food security, HuffPost says. The safest choice is to snack on a granola bar or some nuts until you can stop by a restaurant for a balanced meal.
Slush
The Slushs and "Slurpees" may have been the highlight of your childhood road trips, but know they can have a huge impact on your waistline. A 44-ounce Dr. Pepper Slurpee contains approximately 825 calories, most of which come from sugar. And as with soft drink dispensers, Slurpee machines harbor mold and pathogenic bacteria. Forget the nostalgia and go for healthier alternatives.
Donuts
Like many things at a gas station, donuts are far from low in calories. In fact, you would need to ride a bike for over 30 minutes to burn a pack of four mini donuts. Say no to glazed donuts too. Even if they are delivered fresh to the gas station every morning, they will likely be stale after just a few hours. Instead, opt for a banana or an apple to satisfy your sugar craving.
Breakfast sandwich
Although breakfast is an important meal - one that should never be skipped - it should not be swallowed up. An English muffin with sausage at your local gas station is about 500 calories and 1030 mg of sodium.
Beef sticks
Make a “protein” stop on the road? Avoid prepackaged beef sticks. A single stick can contain over 550 mg of sodium - almost a quarter of what you should eat in a single day. In addition, this type of product contains a lot of preservatives.
see also finance and business knowledge
17 Easy Budget Tips to Save Money
Are you often short on cash and do you not know how you can save more money? Then read the 17 easy budget tips below and make sure you don't have to worry about saving even more money.
1. Get a bottle of cleaning vinegar at home. Vinegar is good against limescale, foul odors and it also seems to help against athlete's foot.
2. Swap one or more scents with your friends. If you've been using one scent for some time, you'll want to use another scent. By exchanging a scent, you don't have to spend money on expensive scents and you smell nice and different. Nice swap deal, right?
3. Get your fruits and vegetables on the market. Market prices are significantly lower than supermarket prices.
4. Compare items you want to buy online. If you have seen an (expensive) product in the store, first look on the internet to see if you can buy it cheaper.
5. Set savings goals. In this way you provide some extra reserves and you can spend this money on unforeseen expenses or a nice holiday of course. Earlier we wrote how to set savings goals.
6. Cancel newspaper and magazine subscriptions. It is much cheaper (and even free) to check the news online.
7. Make sure you know what your fixed costs are. This way you have a good and clear overview of your finances. Via my free fixed costs Excel file you will find out in one go what your fixed costs are, all in a handy overview.
8. Take a snack with you when you go into the city , so that you can not be tempted by all kinds of tasty snacks.
9. Have a fleece blanket or blanket in the house. Take this in the evening when it gets a bit cooler and leave the heating off as long as possible.
10. Pick up mainly the house brands in a supermarket, both at the AH and at other supermarkets there are plenty of cheaper and tasty products to be found than those expensive A-brands.
11. Know your income and expenses. Enter your fixed expenses and income in our free Excel sheet and see how much money you can save or lack.
12. Do your shopping less often during the week and limit getting your groceries to 1 or 2 times a week. This ensures that you have fewer snacks and other tasty snacks at home. Another good budget tip: make a weekly menu to save a lot of money on groceries.
13. Buy your winter clothes a little later in the year. The later you buy your winter clothes, the greater the chance that that nice coat is on sale. This also applies to buying your summer clothes, the closer to summer you buy your summer clothes the cheaper it gets. Clothing is also cheaper to get by looking at discount codes.
14. Halve the meat and double the vegetables with the meal.
15. Drive 80 kilometers in fifth gear. By driving less fast on the highway, you save about 10 to 15% in fuel costs if you drive according to the new way of driving.
16. Do you still buy expensive detergent bottles? Then easily make your own detergent yourself and save many tens of euros per person per year.
17. Use a shower coach. This ensures that you, your partner and your children are not in the shower for too long. Earlier we wrote an article about how to make your children shower shorter.
17 Tips to Help You Save Money Fast
These 17 tips for saving money fast could just help you reach your savings goals in record time.
While it might seem odd to save money during a pandemic, having a goal set during a time of uncertainty can be a source of stability - to an extent. It can also allow you to project yourself into a brighter future, which should improve your overall well-being! So if you are wondering how to save money fast, check out these 17 tips to increase your savings fast.
How to save money fast
Before you can start saving money each month, you need to have a clear overview of your cash flow. This means that you need to factor in all of your incoming and outgoing money flows, including your possible debt repayments, your monthly bills, and how much you save each month. Let's break this process down into several steps.
1. Learn to manage your budget and understand your finances
The most important thing in saving money fast is learning to manage your budget. If you control your budget, you control your finances. Becoming financially independent is critical if you want to achieve your short and long term savings goals. Here's how to create a budget so you can start saving quickly:
- Track your finances over a 30 day period. This includes all of your income and expenses.
- Compare your monthly income to your expenses to estimate how much you are currently saving, or how much you are overspending each month.
- Classify your expenses into fixed and variable costs. Your fixed costs include expenses that are usually difficult to adjust, such as rent or utilities. Your variable costs include expenses such as shopping, entertainment, and memberships.
- Identify all the variable costs you can save on in order to increase the amount to be saved each month.
- Evaluate your progress regularly and make adjustments if necessary. If you're feeling a little overwhelmed, there are plenty of business apps available to help you keep tabs on your budget.
2. Pay off your debts (if you have any)
Before you start saving, you'll need to pay off your debts. Because interest accumulates over time, the longer you wait to pay off a debt, the more it will grow. Pay off your debts as a priority before focusing on your other savings goals.
To do this, consider adopting the 50/30/20 rule . Created by US Senator Elizabeth Warren while she was a Harvard bankruptcy specialist, the 50/30/20 rule is a simple way to manage your budget and therefore pay off debt. It works as follows:
- Use 50% of your income for your needs i.e. fixed costs such as rent and utilities.
- Use 30% of your income for your cravings, that is, variable costs such as dining out and subscriptions.
- Use 20% of your income for your savings. If you earn € 2,500 per month after tax, that means you can set aside € 500. In just one year, you will have paid off € 6,000 in debt.
3. Open a dedicated savings account
In order to save money quickly, you will need to separate the money you use for your daily needs from the money you intend to save. For this, it is necessary to open a dedicated savings account. Thus, you minimize the risk of digging into your savings funds to cover your daily expenses. This will encourage you to follow your daily budget while keeping your savings safe.
4. Program your savings
If you have a fixed monthly income, remember to schedule your savings each month: you can schedule an automatic permanent transfer from your current account to your savings account each month. Thus, you reduce the risk of using these funds to cover your daily expenses.
5. Schedule the payment of your invoices
Note that you can also schedule the payment of your bills. Businesses often charge late fees if you don't pay them on time, so paying your bills before the deadline will help you avoid any extra charges.
6. Set the spending limit for your card
Want a great way to save money fast? Set a spending limit on your credit or debit cards. This will keep you from overspending and encourage you to evaluate your daily purchases in advance. Many banks offer this service. At N26 for example, you can set daily spending limits and choose whether or not to authorize ATM withdrawals in seconds from your N26 app.
7. Use the envelope management system
Another possibility to help you save money fast is to use Dave Ramsey's Envelope Management System. This system involves withdrawing your monthly cash income from the bank (yes, in full) at the start of each month and dividing it into different envelopes based on your management goals.
This will provide you with envelopes for your fixed costs (eg, rent, utilities) and for your variable costs (eg, clothing purchases, dining out, groceries). By paying everything in cash, it is practically impossible to break your budget! But we grant you, it is probably not the most practical in 2021!
8. Save on your rent
Saving on rent is one of the fastest ways to save a certain amount of money each month. If you live alone, one of the easiest ways to do this is to share a flat with you. This will immediately cut your rent in half, and if you choose to live with two roommates, you'll pay about a third of your current rent.
So if you are currently paying € 1,300 per month for a three-room apartment and find a roommate, you will save € 650 per month.
If you already live in a shared flat, you can move into a smaller room. The rents are generally calculated according to the room which is to be rented. So you can make big savings every month. In addition, it would encourage you to resell some of your furniture, and allow you to earn some money.
Of course, the ways to reduce your rent depend on the configuration of your home, your needs and where you live ...
9. Reduce your costs
Another tip for saving money fast is to reduce your expenses. Your electricity and gas bills represent the bulk of your fixed costs. If you can manage to reduce them, you will end up with a certain amount more each month. Here's how to do it:
- Change your energy supplier. By making sure you've purchased the best deal on the market, you can save several hundred dollars each month.
- Replace your light bulbs with LEDs. Not only do they consume 75% to 85% less energy than traditional light bulbs, but their lifespan is 15 to 25 times longer.
- Invest in a smart thermostat. This will allow you to adjust your central heating intelligently and potentially save you some money.
- Plug all air leaks. Air leaks around your windows and doors can increase electricity bills because your radiators will have to run longer to heat the room. Instead, plug those leaks with compressible thermal sealing strips to keep the air warm.
- If you own your home, consider doing energy renovations. There are many public aids to make your home a well insulated cocoon that will reduce your carbon footprint.
10. Carry out an additional professional activity
If you want to dramatically increase your monthly savings, you can try finding some extra activity. It could be working a few evenings in a bar or restaurant after your job, finding a few freelance contracts, becoming a virtual assistant, or maybe babysitting.
If you can afford it, it can be very motivating to transfer all of the income generated from these additional activities directly into your savings account. But it is important to be vigilant to the risk of burnout.
11. Cancel your unused subscriptions
Subscriptions are incredibly lucrative for many businesses because once customers sign up for their service, they're less likely to cancel their subscription, even if they rarely use it.
This is largely due to the sunk cost bias. If applied to a subscription, the sunk cost bias means that it is difficult to cancel a subscription that is rarely used because you have already invested a huge amount of money. Thus, canceling the subscription would be accepting that the money spent so far has been wasted. Postponing the termination of the subscription maintains the illusion that this subscription can still be used. In general, very few of us fully use our subscriptions. That's why it's more beneficial to cancel unused subscriptions now than to keep them in the event that you use them later.
How to save quickly for a car?
There are several options available to you if you want to quickly save money for a car. It should be a little easier to save for a car, as you usually don't need to save as much as you do for the down payment for a new home. However, it will still be necessary to be tactful in managing your money if you want to get behind the wheel of your car quickly. Besides, even if it means changing your car, why not opt for an electric vehicle? Many conversion bonuses have been put in place to lower the bill and guarantee a greener future.
12. Make small daily repairs yourself
Trying to fix what you've broken yourself is a great way to save real money - we're talking about small repairs, of course. Thanks to YouTube and the Internet in general, it is easy to find online how to repair many everyday items. From leaky bathroom pipes, to changing the belt on your washing machine, to fixing the zipper on your jeans, it is always better to fix these things yourself rather than paying someone. 'one to take care of them, or replace them completely.
13. Think before you buy
Giving in to temptation is the biggest problem when trying to save money fast. Before you make a big expense, whether it's a compulsive purchase or not, give yourself at least three to four days to think about it. This will prevent the impulsive part of your brain, looking for a dose of serotonin after a purchase, to gain the upper hand.
If you really want to test yourself, try not to make a big expense until after 30 days of thinking. It's a sure-fire way to keep your impulse buying under control and give yourself plenty of time to make sure there isn't a better deal.
14. Buy a car at the end of the financial quarter
If you want to get a good deal on a car, the best time to buy is usually at the end of March, June, September, and December. Why ? Because most dealers have specific sales targets to meet in order to claim their financial bonus. While these sales targets are set on a weekly and monthly basis, the big bonuses are given out quarterly. This means that you are likely to get a better deal on a car at the end of each financial quarter because the car dealership will be keen to meet their quarterly sales target.
15. Reduce your shopping expenses
If you manage to cut back on your spending on groceries each week, you'll be amazed at how much you can save in just a few months. One of the best ways to do this is to plan all of your meals in advance. This means you can accurately calculate how much you're going to spend before you shop and reduce your chances of going over budget.
Another tip would be to consider not consuming meat once a week. Because meat is generally more expensive than vegetables and vegetable products, it can pay off to go without one day a week. These little weekly savings will add up over time.
On top of that, be sure to look at the products sold at the bottom of the shelves. Supermarkets often put their more expensive products at eye level, to encourage you to spend more, and the cheapest products closer to the ground, making them harder to spot.
16. Set one free day per month
To get used to saving money, decide on one day per month that you spend absolutely nothing except fixed costs. You can prepare all your meals from the ingredients you have at home, choose to socialize at the park or at home, and spend a relaxing evening reading or watching TV. Once you get used to it, you can do this two days a month, and maybe even one day a week to really increase your monthly savings amount.
17. Sell your unused items
If you want to quickly start saving money for your vacation, it's worth making a list of all your unused items and selling them on an online shopping site like Le Bon Coin, for example. This not only helps to declutter your home, but also saves you small amounts of money that you can save for your next vacation. Conversely, you can also start buying second-hand items more frequently, in order to save a lot of money and avoid over-consuming.
25 Tips to Save on Groceries
Do you want to find out more tips to help you save money when you go to the supermarket? Here are 25 as simple as they are effective!
1. Budget
Making a monthly budget and trying not to deviate from it is the first way to avoid spending too much. Do you have trouble respecting it? To motivate yourself, put aside the money you would have spent on unnecessary purchases. The amount raised at the end of the year can be invested in a trip or in a project that is dear to you.
2. Buy in Bulk
When shopping for ground meat, chicken drumsticks or pork chops, for example, get family size packages. In general, these cost less. Always check the price per kilogram to make sure you are getting a good deal. Don't you need that much? Pack the excess and freeze it for later use!
3. Opt for the
President's Choice, No Name, Compliments, Selection house brands … at regular prices, private label products are generally more affordable than those of the big brands. According to Agriculture and Agri-Food Canada, they are 20 to 30% cheaper. On the quality side, it is often difficult to tell the difference, especially when it comes to basic products such as sugar, flour, salt, oil or spices! So why pay more for the same product?
4. Cooking
Making your own chicken broth, tomato sauce (or bolognese) and pâtés (meat, chicken, salmon) is a good way to save money. To avoid it being a chore, we put a few Sundays “meals with friends” on our calendar. Thus, we can cook large quantities that we share at the end of the day. The art of combining business with pleasure!
5. Don't go to the supermarket on an empty stomach
Nothing worse than going to the supermarket when you are hungry! At these times, we tend to overfill our basket and buy foods that are not always very good for your health. If you go shopping a bit before mealtime, consider eating a snack!
6. Growing our herbs
Dill for the fish, basil for the pasta, cilantro and mint for the spring rolls… Fresh herbs can add to the price of our grocery bill in amazing ways, especially during the winter. ! To save, grow them! Take advantage of the beautiful season to grow them outdoors and bring them indoors around mid-August.
7. Stick to our list
Write down all the meals you want to put on the menu during the week and make a list of ingredients to buy in order to prepare them. Once at the supermarket, just rely on this list. By avoiding buying superfluous products or unnecessary food, it will prevent you from wasting money ... and maybe even putting on a few pounds!
8. Buy in bulk
By opting for bulk products, you won't be paying for packaging. Think about it! Flour, sugar, nuts, peanuts… several products are sold in this way. Some grocery stores even make it their specialty! To avoid having a mess of bags in your pantry, get pretty containers from a “dollar store”.
9. Make your menu based on discounts
Consult the flyers of grocery stores near you and plan your meals for the week based on discounts. For example, if chicken thighs are on sale, put them on the menu! You can even buy more for freezing. However, since the discounts return cyclically every three or four weeks, there is no need to stock up on them too much.
10. Couponing Couponing
consists of using a discount coupon to buy a product already on sale in order to obtain it at a very reduced price… or even for free. Although it is not as profitable to do couponing in Quebec as in the United States, it can still save us a lot of money after a year! How to get these coupons? On the Web (websaver.ca, quebeccoupon.com, gocoupons.ca), in newspapers, in stores or by mail. The Quebec couponing community onmagasine.ca can also help you get more for your money! Go take a look!
11. Say no to processed products
Ready-to-eat meals, marinated meats, precooked and seasoned rice ... in addition to unnecessarily increasing our grocery bill, these products are often less healthy and less tasty than the small dishes that we concoct ourselves from ingredients that we have selected. Also note that ready-to-eat meals are taxable: one more reason to avoid them!
12. Buy according to the season
Choose seasonal fruits and vegetables as much as possible. Favor berries (strawberries, raspberries, blueberries and blackberries) in summer, apples in fall and citrus in winter. Do the same with vegetables, favoring those that grow in abundance in Quebec during the summer. It is also a good way to encourage the local economy!
13. Avoid Individually
Wrapped Say no to individually wrapped juices and yogurts. Instead, prefer large containers that offer you more at a lower price. For lunches, get reusable plastic bottles and containers. A solution that is both economical and ecological!
14. Look everywhere
The most expensive products are often placed on the shelf at eye level. Outsmart this marketing technique by looking a little higher and a little lower. You could find great deals there!
15. Be vigilant
Beware, because some products are showcased on shelves as if they are on sale when they are not. In addition, just because it is written “special” in red does not mean that it is necessarily a godsend! Always look at the price per unit (or per 100ml or 100g increments): this will let you know which product is the most advantageous to buy.
16. Buy as much as you need
Are canned tomatoes on sale at three for $ 5? Note that unless otherwise indicated, you will benefit from the discount even if you buy only one (in this case, the unit price of a box would be $ 1.66). For products that have a long shelf life, it may be beneficial to buy three if the promotion is worth it. However, for perishable foods, you just buy the amount you need. Thus, we avoid paying unnecessarily for food that we risk wasting.
17. Grocery shopping without the kids
"Mum, I want this, daddy, I want that!" Children create a multitude of needs when they are in the supermarket and sometimes they know how to be so insistent that it is difficult to say no to them. For this reason, it is more economical to shop without them. If that is not possible, let them know that you will not buy anything that is not on your list… and be consistent!
18. Stock up on vegetables at the end of summer
We take advantage of harvest time to visit the fruit and vegetable markets and to stock up! Peppers, beans, tomatoes, leeks… so many vegetables that you can buy in large quantities for freezing or canning. It is also an opportunity to get apples that can be transformed into compote, jelly or pie. Much less expensive than buying these products at the supermarket… and how much tastier!
19. Cut and grate yourself
Cheese and carrots cost much more when sold grated. The same goes for mushrooms and other vegetables that are offered sliced or ready to eat. When we think of the savings we can make, preparing our food is not that tedious! Psst! When there is a considerable special on brick cheese (cheddar, mozzarella, gouda), take the opportunity to stock up! Grated and packaged in an airtight container, cheese will keep in the freezer for up to six months.
20. Playing butchers
Rather than buying your chicken cutlets, cubes or strips, slice it yourself! Since the price per kilo is higher when the meat is sold cut, it will save you a lot in the end. Do the same with beef, pork and lamb, and take advantage of discounts to stock up!
21. Eat less meat
Animal protein is much more expensive than vegetable protein, which is found in legumes and tofu, for example. By replacing a few meals of meat and fish with protein-rich vegetarian meals, you save money by enjoying an equally complete diet.
22. Shun bottled water
Is your tap water of good quality and tastes good? No need to spend on bottled water! To keep it fresh at all times, fill a pitcher and keep it in the fridge. Do you doubt its quality? Get a water filter and a gourd. With just one filter, you will get the equivalent of 300 500ml bottles of purified water. Greatly beneficial for the health of our wallet… and that of our planet!
23. Avoid waste
We try to get fruits at different stages of maturity. If a few have withered away before they can be eaten fresh, they are given a second life by using them to make muffins, compote or fruit salad. As for wilted vegetables, they can be used in a soup or in a stir-fry. Every time you throw away a food, imagine that it is your money that you put in the trash.
24. Having a loyalty card
Some loyalty programs allow you to accumulate points that give entitlement to discounts or free items . It can also be interesting to be part of a co-op, since a percentage of the annual profits is redistributed to the members in the form of dividends. Think about it!
25. Becoming a member of a “club”
type store This type of store can allow us to save a lot of money… on the condition of respecting our shopping list! Once there, it's so easy to be drawn to items that we don't really need. This is the trap to be wary of!
35 Tips to Save Money and Optimize Your Budget
Has your financial situation changed? Has your income declined? Do you want to save for a project that is important to you? Now is the perfect time to review your budget, even if it means adopting new habits to save money. Here are 35 tips to reduce your expenses, without suffering too much, and have extra dollars in your pocket.
Save on a daily basis
1. Avoid impulse buying by taking the time to think. Wait 24 hours or even a week before buying. This will help you put your needs into perspective. For example, you can allow 24 hours or even a week to pass before making your purchase to put your needs into perspective and consume responsibly.
2. Reduce your electricity bill by applying the good habits of Hydro-Québec. For 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 private labels, they are cheaper than the big brands and often of just as good quality.
4. For your home improvement projects, rent tools that you won't use often. It's more economical and you won't clutter up your space unnecessarily.
5. Your morning coffee is now taken at home? You save without even realizing it. Set aside the amount spent weekly at the café to complete a project.
Save at the grocery store
6. Shop for groceries after a meal or grab a snack right before. Going on an empty stomach would encourage spending more. And prepare a list to avoid impulse buying.
7. Plan a budget and a shopping list by checking online flyers to spot deals. You can even use apps like Flipp or Reebee.
8. Look at the top and bottom shelves of the shelves in the grocery store. The cheapest products are often placed there.
9. To find the most economical size, compare prices by quantity by looking at the labels on the shelves.
10. Prepare your own fruits and vegetables. Already assembled snacks can cost double the price of unprepared foods.
11. Cut down on your meat consumption to save on your grocery bill. Why not start with one or two meatless meals a week?
Save on transport
12. Get around by bike. This is a convenient way to save on gasoline costs while playing sports. Let your insurer know that you use your car less often and you could save money.
13. You can not do without a vehicle for your trips? Bet on a used car and you will avoid depreciation. If not, have you thought about a hybrid vehicle? You will save on gasoline.
14. Before buying a car, use the CAA calculator to find a cheaper vehicle.
15. To reduce your gas bill, take a step back. Driving at 100 km/h on the highway, instead of 120 km/h, reduces fuel consumption by 20%, according to the CAA.
Save on the Internet, TV and cellphones
16. Analyze your usage patterns to see if you are paying for the superfluous. Do you spend more time at home? Chances are, you're spending less on cellular data. You could change your mobile plan to better suit your new daily life.
17. Consider renegotiating your package. Competition is so fierce in telecommunications that sometimes it is enough to ask for a discount on your plans to be granted. Shop the plans according to your actual usage patterns, think about discounted providers, or get a second-hand device.
18. Consolidate your Internet, telephone and television services. This will allow you to save money.
Save on expenses for children
19. Limit the number of gifts to birthdays and holidays. Give homemade gifts or second hand items. It's good for the wallet and for the planet.
20. Buy your children's clothes from thrift stores. Several second-hand shops are accessible online. You will find durable parts here at a fraction of the cost.
21. Buying used hockey or ski equipment will save you big money. Some specialty stores even offer credit for your undersized sporting goods.
22. By contributing to a Registered Education Savings Plan (RESP), you could get up to $ 10,800 in government grants for your child's future education.
23. Several CEGEPs and universities organize used book sales at the start of the semester. It is possible to get between 25% and 50% off the base price. Finds can also be found on social media or in school discussion forums. It is a good way to save on student expenses.
Save on travel
24. Rather than flying across the Atlantic and spending on lodging, you could encourage local tourism and go on an adventure in your own province.
25. You might find free accommodation for your next vacation. Visit sites like Trocmaison.com or Home for Exchange to follow the latest developments.
26. If you are visiting another province or country, see if you should change your phone plan to avoid receiving a hefty bill when you return.
27. Shopping for your vacation? 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 prove to be less expensive.
Save on outings
28. Several cities offer free cultural activities, such as conferences, shows and museum visits… online. A great way to have fun at a fraction of the cost.
29. Host picnics at the park rather than ordering food online. It's much nicer and it's a great way to enjoy the summer. In addition, you will avoid food waste.
Save on financial services and taxes
30. Are you starting to have good savings habits? An accelerated mortgage payment could save you tens of thousands of dollars. For 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 pay off your mortgage sooner than expected.
31. Try to pay off the full balance of your credit cards each month. Otherwise, watch out for interest : a purchase of $ 2,000 at 20% is $ 4,240 if you only make the minimum monthly payment due.
32. Give preference to your bank's automatic teller machines by planning your withdrawals to avoid fees for each transaction.
33. Whether you really need to spend on insurance policies, the answer is yes. Auto, home and civil liability protections are often necessary to avoid many worries. On the other hand, nothing prevents you from shopping for your auto and home insurance with each renewal. Premiums vary a lot from one insurer to another. In some cases, you could reduce your premium by consolidating all your insurance with the same insurer.
34. Consider participating in the pension plan for which your employer pays an additional amount. You will contribute more and this is usually very beneficial.
35. If you are in a relationship and one of you is retired, you may be able to 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 more affluent person moves to a lower tax bracket, your couple will pay less tax.
