I thought I’d rekindle something here at Simply Frugal. 🙂 I love hearing from you guys and enjoy the conversation that can be had with the “I’m wondering” questions I’ve asked in the past. So, I thought I’d get those “I’m Wondering” questions going again!
Let’s get started shall we?
I’m Wondering: What is your #1 Grocery Saving Tip?
Have you got something you’ve been wondering about that I could feature in a future I’m Wondering post? Submit your question to us here!
Many Canadians go into debt each year to give gifts to those they love for the holidays. Now that the damage is all done, and if you're one of those people, it’s time to take a serious look at what needs to be payed off. You will need a plan and I’m here to help you with that!
Check out these tips for getting out of debt after the holidays:
Get a Total
Before you can tackle the debt you created, you will need a total. Gather up all of your credit card statements or loan amounts to see what the grand total is. Try not to beat yourself up when you see the total. 🙂 So you got a little caught up in the season... now is the time to get back on track financially.
Create Goals
After you know how much money you’re owing from the holidays, it’s time to create goals to get the debt paid off. For example: "By May, we want to have $300 of our debt paid off." Your goals should adequately reflect how much debt you are in. Of course, you’ll want to be out of debt way before next Christmas, so this doesn’t happen again!
Make Extra Money
If your current budget is being taken care of by your income and there’s nothing leftover, making extra money might be your next step. There is so much extra work you can pick up even after the holiday season is over. Consider shoveling snow or even working part time at the mall. Or perhaps you could try selling some of your unwanted/unneeded stuff!
Create a Christmas Goal
As I mentioned earlier, without a goal in mind for next year, you will be in the same place each time with debt. It’s important to create a goal for Christmas earlier in the season. Set an amount of what you want to save and go from there. If you can swing it, start saving weekly or each time you get paid. It makes a lot more sense to save cash now rather than use credit later. (In other words, credit is for cash you may not have!)
Use Cash From Here on Out
It’s one thing to use credit cards and to get into debt over the holiday season, but it can be detrimental to your family’s income if you continue on this path. Your best bet is to use cash from here on out. You can even put cash in envelopes to keep yourself from spending above and beyond what you budgeted for. Cash is always your friend when budgeting and spending.
Do you have any tips for getting out of debt after the holidays? I’d love to hear them!
7 Good Financial Habits That Can Help You Save More Money
Do you ever feel like your money disappears faster than you expected?
It happens to all of us. A few extra purchases here, a takeout meal there, a subscription you forgot about, and suddenly you're wondering where your money went.
The good news is that you don't need to completely overhaul your finances to make a difference. A few good financial habits can help you become more aware of your spending, save more money and feel more in control of your budget.
The goal isn't to be perfect with your money. It's to make small changes that you can actually stick with.
Here are seven good financial habits worth trying:
1. Make saving automatic
One of the easiest ways to save money is to make saving part of your routine.
Instead of waiting to see what's left at the end of the month, set aside money for savings when you get paid. Even if you can only start with a small amount, it can add up over time. You can always increase the amount later as your budget allows.
Consider setting up an automatic transfer from your chequing account to your savings account on payday.
The important thing is to get into the habit of saving regularly.
2. Pay attention to what you're spending
It's so easy to spend money without really noticing it, especially when you're tapping your card or paying with your phone.
For the next 30 days, try keeping track of everything you spend.
Don't worry about judging your purchases or trying to change everything immediately. Just write them down.
You might be surprised by how much you're spending on things like takeout, convenience purchases, subscriptions or those little "I'll just grab this while I'm here" purchases.
A spending journal can give you a much clearer picture of where your money is actually going. If you'd like to try one, you can read How to Create a Spending Journal.
3. Keep your receipts for a month
Keeping your receipts can be a surprisingly useful money saving habit.
For one month, try keeping your receipts instead of immediately tossing them.
At the end of the week, look through them and see what you've purchased. Are there things you bought that you didn't really need? Are you spending more on groceries, coffee, takeout or entertainment than you realized?
You don't have to scrutinize every single purchase forever. Even doing this for a month can help you become more aware of your spending habits.
And once you're aware of where your money is going, it's much easier to decide where you want it to go instead.
4. Give your money a plan
You don't necessarily need a complicated budgeting system. You just need to know what your money needs to do.
At the beginning of each month, look at your expected income and expenses. Account for necessities such as housing, groceries, transportation and bills, but don't forget about savings, fun and the occasional unexpected expense.
If a monthly budget feels overwhelming, start with a weekly budget instead.
You could decide how much you have available for groceries, entertainment, takeout or other flexible expenses each week.
The best budget is one you can actually live with.
If you have trouble sticking to spending limits, an envelope system can make your budget more tangible.
The traditional method involves putting cash into separate envelopes for categories such as groceries, entertainment, clothing, gas or takeout.
Once the money in an envelope is gone, that's your spending limit for that category until you replenish it.
But you don't have to use actual cash to make this work.
You can create separate categories in a budgeting app, use separate savings accounts or simply keep track of your spending digitally.
The idea is the same: give yourself a spending limit before you start spending.
6. Find someone to keep you accountable
Money can be easier to manage when you aren't doing it on your own. Find a friend, partner or family member who also wants to be more intentional with their money.
You could check in with each other once a week, compare your savings goals, share money saving ideas or simply encourage each other to stay on track.
This doesn't have to become a serious financial meeting. Even a quick "How did your spending go this week?" text can help. Having someone who understands what you're working toward can make it easier to stay motivated.
7. Find ways to have fun without spending money
One of the biggest challenges with trying to save money is feeling like you're giving up all the fun stuff. But you don't have to!
Look for inexpensive or free ways to enjoy your time instead of automatically spending money whenever you're bored.
Take a walk, visit the library, have a movie night at home, work on a hobby, explore a local park, invite friends over or finally tackle that book you've been meaning to read.
And don't underestimate the value of simply staying home and enjoying what you already have.
Saving money doesn't have to mean making your life miserable. In fact, learning how to have fun without constantly spending money can become one of the most valuable financial habits you develop.
You don't need to completely change your financial life overnight.
Start with one or two of these good financial habits and give yourself some time to get used to them. Once they become part of your routine, add another.
Maybe you start tracking your spending. Then you set up an automatic savings transfer. Then you create a simple weekly budget.
Those small changes can add up.
Being better with your money isn't about never spending or never treating yourself. It's about becoming more intentional about where your money goes so you can spend on the things that matter most to you.
And that sounds like a pretty good financial habit to me.
Do you find yourself with leftovers after each meal? It's wasteful just to toss those scraps into the trash, but are you stuck on ideas on what else can you do with them? Even if your family isn’t crazy about leftovers, there are fun ways to make the most of them. Take a look at these 7 ways to make the most of leftovers so you can stretch your grocery budget each week.
1. Invest in proper storage supplies.
Before you begin making the most of your leftovers, invest in some proper storage supplies. Having sturdy, clear plastic or glass containers is ideal for seeing the contents of each container. Freezer bags and tin foil will also help you store and save leftovers. If you don’t have these items it's way more tempting to toss leftovers in the trash. Instead, be prepared!
2. Plan menus ahead of time.
When you know you are having steak for dinner, you can easily plan to eat steak salads (using your leftover meat) for the following day. If you know you are having hamburgers, you can plan a beef and vegetable stew for the day after. By using leftovers from your dinner in your subsequent lunch, you can make the most of those leftovers. Meal planning can help you stretch each meal.
3. Get creative with stews and soups.
Leftover chicken, vegetables, beef, and noodles can all be added to a broth and warmed up into a soup or stew. See what combinations you prefer and get creative with your soup recipes.
4. Try chicken salad recipes.
Leftover chicken can be peeled from the bone, added to a bowl, and turned into chicken salad quite easily. Just add a little mayo, a hard boiled egg, and some celery and you have the perfect lunch! Try adding other leftovers into the mix to see if there is a combo you enjoy.
5. Bake those buns!
Turn leftover buns and bread into croutons. Just cube, sprinkle with olive oil and seasonings of your choice, and bake in the oven until nice and crispy. These are great for soups and salads.
6.“Wrap” leftovers up.
Always have some tortilla wraps on hand to make wraps using your leftovers. You can add steak and vegetables, chicken salad, veggies and cheese, or any other combinations that might appeal to you.
7. Use leftovers as toppings.
Leftover cheese, veggies, and even meat can always be chopped or crumbled and used as baked potato topping, pizza toppings, or soup toppings. Don’t think of these leftovers as a whole meal (if you don’t have a lot) but more as a topping or condiment.
Never look at leftovers the same way again when you give these creative leftover ideas a try.
I'd love to hear how you use leftovers in your household! Share in the comments!
It is that time of year again, when ghouls and goblins will be showing up at your door asking for tricks or treats. If you have a great number of visitors in your neighborhood, you might be wondering how to save a little cash on Halloween candy. Well don’t fret, take a look at these 7 simple ways to save money on Halloween candy and get the sweets you need for less.
6 Simple Ways to Save Money on Halloween Candy
1. Head to the dollar store.
You will be quite impressed when you see the selection your local dollar store has to offer. Everything from fun sized licorice to candy bars are available as are themed pencils and erasers perfect for passing out.
2. Consider non candy treats.
As mentioned above, your local dollar store will have themed treats like pencils, erasers, and other small Halloween toys. These are great for passing out to trick or treaters and can cost less than a bag of candy. For example pencils can be sold in packs of 18 for $1, while most bags of candy have less than 18 treats. Do the math and see if it makes sense to opt for a non edible treat.
3. Opt for hard candy.
Your hard candy like suckers, mints, gumballs, etc. will always cost less than chocolate bars. When you buy hard or other non-chocolate candies you are sure to save and are able to get more bang for your buck.
4. Don’t buy candy you like.
This is a wonderful tip, because buying your favorite candy means you will eat it. (guilty!) When you eat it, you need to buy more. Instead, choose a candy that isn’t your favorite and you don’t have to worry about half of it being gone before Halloween even gets here. Along the same lines, don't buy too early because it may end up being eaten before Halloween. 🙂
5. Don’t buy at the grocery store.
Since Halloween candy is seasonal, it's a specialty item and will cost more at your local grocery store. Instead, opt to buy it at a retail store like Walmart, Dollar Tree, or Dollarama. You will get better prices and still have an excellent selection.
6. Price match.
Stores will start offering all sorts of deals on their Halloween candy and treats. Don’t take the first deal you see. Instead compare flyers and price match. This is a great way to get a great price without having to run all over town.
Don’t go broke trying to buy Halloween candy this year. Instead, give these tips for saving money on candy a try and you can still fill those treat bags for less.
It's time to start planning those Thanksgiving menus, and you might be wondering how you can save a little money in the process. The great news is, you can still enjoy a hearty Thanksgiving meal while saving some money. Take a look at these 7 ways to save money on Thanksgiving dinner, so you can plan a feast that is easy on the budget as well as pleasing to the stomach.
1. Start stockpiling now.
Don’t wait to start grabbing the ingredients you need. If you see sale prices on items such as soups, broth, rice, noodles, and other items that won’t go bad before Thanksgiving gets here, grab them! These staples can be put to use in many ways so finding a good deal on them is a great reason to grab them.
2. Get creative with starches.
Potatoes, noodles, and rice can all be used in your Thanksgiving menu and are relatively inexpensive to buy. Look at different ways to prepare these foods so you can create your feast for less. Some ideas could be cold salads, oven bakes, loaded potatoes, baked potatoes, and even stuffed peppers to use the rice.
3. Don’t forget the bread.
Bread products are filling and can be purchased for just pennies per serving. Grab some boxed bread mixes while they are on sale, or grab a few fresh loaves closer to the holiday. If you find a great deal on bread now, don’t forget you can always save it or use it as croutons. You can also visit day old bread stores to get some real deals.
4. Use in season produce.
Use in season produce items to make your salads and side dishes. Some examples would be squash dishes, potatoes, apples, and grapes. In many areas these items are in season and so they will be at their lowest prices of the year. Just find creative ways to use them and make them part of your delicious meal.
5. Search out coupons.
Start scouring your flyers now for coupons that are good on meat products, side dishes, dessert items and more. Clip them out as you see them and ask family to do the same. Match your coupons with store sales so you can double up on your savings and maximize your dollar.
6. Ask guests to bring a favorite dessert.
One of the easiest ways to save some money and stress is to ask guests to bring a dessert. You will find that most are happy to do so. Some inexpensive dessert ideas can be jello parfaits, pudding parfaits, or fresh in-season fruit.
7. Don’t overlook the dollar store.
Dollar Stores are perfect for buying your roasting trays, tin foil, wax paper, and other cooking supplies. You can also find seasonings, side dish items, pasta, canned vegetables, and more. Head to your local dollar store and see what you might be able to use.
If you are in charge of Thanksgiving dinner this year, don’t see dollar signs just yet. Give these tips a try and see how frugal your feast can be.
What are your best savings tips for a frugal Thanksgiving dinner? Share them in the comments!
