When it comes to budgeting, the common excuse I hear from people is that they don’t have the extra money to set aside to grow their savings account. Once they get paid, and take care of all of their important bills, there is simply nothing left for them to put into savings. Does this sound like you?
If so, I have a few suggestions for you that will teach you how to save money in no time.
Tip #1 – Always pay yourself first
What do you consider to be an “important bill”? Your mortgage/rent? Your car payment? Insurance? Of course, these are all bills that absolutely must be paid each and every month, but what about the bill of YOU? Aren’t you important?
Growing your savings is so very important for your financial future and you need to make this a priority. Do so by treating your savings as one of those “important bills” that absolutely must be paid each month. Ideally, it should be the very first “bill” you pay so that your brain knows that this bill is important. To make it easy on yourself, set up an automatic withdrawal from your chequing account each month (or week), so that a pre-determined amount of cash goes into your savings account without you having to lift a finger.
Tip #2 – It doesn’t matter how much you save (in the beginning)
The hardest part about saving money is simply getting started. How much should you save will depend greatly on your life goals, but also, on your current financial situation. If you are only working part time, or you are a one-income family, you may not have very much money to save each month. Don’t get discouraged and whatever you do, do NOT say you will “start saving when I make more money”. Save money right now, regardless of how much you make.
Even if you are only saving $5 each week, that’s still $240 a year that normally would have just slipped through your fingers. As you start to bring in more money, you can increase your savings amount, but in the beginning, start small if you have to. Don’t dismiss saving money just because you have a low income.
Tip #3 – Eliminate all unnecessary expenses
This is obvious, but I feel I should mention it anyway, because I know so many people who complain about having no money to save, yet they go out to the movies every weekend, buy new clothes with each paycheck and have a $300 monthly cable bill when they rarely even watch television.
Stop paying for things that are not necessary and save that money instead. Don’t buy new clothes if you already have a closet that is bursting at the seams. You don’t need to completely eliminate cable (unless you want to), but at least scale back on the cable package that you have – why pay for something you’re not using? As for entertainment, stop over-spending. Consider frugal entertainment ideas instead (or in combination), or commit to only going out once or twice per month.
Tip #4 – Make more money
Again, this is obvious, but if you really want to start saving money, you need to seriously consider if it’s worth it for you to start bringing more money home. This doesn’t necessarily mean you need to take on a second job (although that will help, of course).
There are many ways that you can make extra money. If you’re looking for a few ideas, check out this article that I wrote recently: 7 Ways to Earn More Money.
Just because you don’t have a lot of money, doesn’t mean that savings is something you should ignore. You need to start saving money as soon as you start earning it (however young that may be when you start working!). The golden rule is to save a minimum of 10% of your gross income every month, but like I said in tip #2, you don’t have to start saving this much initially.
Start saving whatever you can and gradually increase the amount. The key is to never give up. Never stop saving, no matter what your circumstances may be. That, is how to save money.
Are you looking for ways to save on baby stuff? If you’re like most parents, it’s likely that you are!
Here are 3 easy ways to save money on items for your new baby:
Buy Used
Purchase used for as many baby items as you can.
You can find fantastic bargains on clothing, toys and even strollers and play pens at yard sales and thrift stores. Facebook marketplace is another great resource for used goods and the way I find most of my used purchases.
The only items you may not want to buy used are a car seat and crib. Those are things you want to invest some money in, since they will be used heavily and safety is a priority.
Borrow
Do you know someone with kids? If so, there’s a good chance they have baby items that they no longer need! Ask if you can borrow those items until your child(ren) no longer need them.
Great items to borrow include play mats, change tables, bassinet, bouncy seat and crib mobile.
Be sure to pay it forward the next time a friend or family member needs baby items!
Buy in Bulk
When it comes to things like diapers, wipes and formula, a great way to save is to purchase these items in bulk.
Consider shopping at a wholesale store, such as Costco, to pick up these items.
In addition, watch the sales at your regular grocery and drug stores. There are always coupons available for baby items and when matched with a sale, you can often get these necessities inexpensively.
These are 3 simple ways that you can save money on baby items.
Don’t believe the myth that babies cost you thousands of dollars every year. By being frugal with your purchases, you can easily save quite a bit of cash on the things you need to buy for your child.
I’d love to hear your tips for saving on baby stuff! Let us know in the comments below.
Throughout these strange and uncertain world events as of late, I have been collecting links to activities and helpful articles. In my online world, I am always amazed to see amazing humans step out and share their knowledge to try to make these, perhaps uncomfortable, days a bit easier. Life is so much better when we can learn to come together, even in unconventional ways. (Separately, in our own homes. LOL)
In these coming weeks, I would highly encourage you to set yourself up to create positive memories to strengthen your relationships. In times of crisis or upheaval, fear and anxiety really don’t serve us well. Take the necessary precautions, find the happy moments, dream together and tell your family and friends how much you love and appreciate them.
With all that said, here is my list of free indoor activities and ideas that you can enjoy as a family or even virtually with others. Make a list of things you want to accomplish as a family or even some projects on your own.
Many churches offer a livestream of their service. Try a local church or perhaps something else from around the world for some encouragement.
I’m also noticing many local stores offering free delivery. Take advantage of this and support your local small businesses!
During this time, food may also be at the forefront of many of our thoughts. Here is another list with helpful articles relating to feeding our families:
Whether you’ve recently purchased a home or you’ve been living in it for years, you want it to be a space that is not only functional for your family, but also reflects your style. But remodeling your home can be a pricey thing to do. Luckily, there are several strategies you can implement to make sure your home remodel fits your budget and delivers the best return on investment.
Chose wisely.
It’s tempting to redo every room, but you’re better off focusing on the essentials. Kitchens and bathrooms can be expensive, but they’re also the best bet to ensure you see a return at the time of sale. (If you are selling.) However, if you have any glaring problems (like water stains on the ceiling) or out-of-place extras (like disco-era wallpaper or a stainless-steel counter top in a cottage-style home), deal with them first.
Keep what works.
You may hate the look of your cabinets, but if they are soundly constructed and meet your spatial needs, give them a cheap facelift with a coat of paint or some new fronts and handles to save hundreds of dollars on custom cabinets.
Go green.
Recycled and reclaimed products (like flooring, cabinets, sinks, and tile) can be purchased for a fraction of the cost, so keep them in use and out of the landfill.
A little hardware goes a long way.
If your house came equipped with copper fittings and the look you crave for your faucets and drawer pulls is brushed nickel, you don’t necessarily have to toss the old ones and start from scratch. For some items, you can try spray-paint made specifically for use on metal. Otherwise, consider a swap. Take your older items (if the condition is good) to a local second hand store like ReStore and see if you can find something you like better. You could always try selling your old hardware to recoup some of the cost of brand new hardware, if you go that route.
Design on a dime.
Any fashion you see in a magazine has a cheap counterpart somewhere in the world, so before you buy a designer brand, look at discount stores and shop around online. You may even find the exact piece you’re wanting for less by checking sites like Craig’s List, eBay or even Facebook Marketplace.
A little common sense can go a long way towards cutting your home remodeling costs, so shop sales, do comparisons, and take time to find the right materials at a better cost. And don’t be afraid to request price-matching or haggle to get the price you want. After all, it is a vendor’s job to get the maximum amount of profit while you are solely responsible for sticking to your bottom line. It is possible to create your dream home for a lot less cash, and capitalize on your resourcefulness when it comes time to sell, if you follow these simple steps for frugal home remodeling.
It’s a brand new year. A time when we all have an excitement for a fresh start. A time when we decide we’re finally going to get our act together. We start out great, but then we tend to get tired over time and go back to our old ways. Getting financial situations back on track rank high on the “fresh start” list.
Below I’ve listed a bunch of ways to make saving your hard earned cash easier and way less painful!
Set up automatic deposits
Have your bank move a set amount of money automatically into your savings account each month. Whether it be $50 or $500, if you don’t see the money in the first place, you’ll never miss it! And at the end of the year you’ll have a very nice amount in your savings account!
Stay home
By staying home more often, you’ll save money on gas, impulse buying and even free up precious time for the things you really want to do! Let this be a time when you encourage yourself to learn new skills such as learning to make bread from scratch, or learning to recreate your favourite restaurant meal at home, or even learning simple wood working techniques to build a shelf. Involve your children so they learn the value of being creative.
Put extra money into savings
Did you receive a bonus at work? Or a cash gift from Grandma? Why not put it all, or a portion, into your savings account? Since the money was unexpected in the first place you shouldn’t miss it once it’s safely away in savings. Just resist the urge to spend it right away on something that caught your eye if you’ve got some financial goals you’d like to accomplish.
Once you’ve finished paying a big bill, put that money into savings
Did you just finish paying off a car loan? Pretend you haven’t paid it off yet and put that same amount into savings or onto another debt. Be your own bill collector.
Shop for things you need, not for recreation
Recreational shopping used to get me in lot of trouble. I would shop when I was bored. I’d also wonder why I was never saving money and why I never had time to do the things I really wanted to do, like read a book! Once I stopped treating my boredom with shopping, I discovered the things I really needed to buy were essentials and I discovered ways to occupy myself that made life more meaningful. I stopped cluttering my house up with useless stuff too!
Shop with a “frugal” friend
If you have a tendency to overdo it during your shopping trips. take along a trusted friend that has a more frugal mindset then yourself. Nothing like a sensible person to reign in your personal spending habits!
Have you got any more recommendations on how to painlessly save money? Let me know in the comments below!
This post is mainly to get my own butt in gear regarding food waste, but I think many of you could benefit from it as well! Or at least input some valuable tips for those of us that need some help! 🙂
These days it’s essential to save money on groceries, so here are five tips to make the most of your food and minimize food waste.
5 Ways to Waste Less in the Kitchen
Use what you buy
A very obvious tip, but I too often find produce or other time sensitive ingredients sitting in my fridge on their very last legs. There are some days at the grocery store when I purchase something because it looks good and is on sale. Yes, a spur of the moment purchase, thinking that I can transform it into some tasty meal or snack during the week. The key here, with these purchases, is that I actually have to use the ingredient! So if I don’t have a particular purpose in mind when I buy it, I quite often find it sitting in the fridge rotting away. One way I’d like to help myself with this is to do something with the item right away. Maybe it’s a giant bag of carrots that I could cut up into sticks for easy snacking throughout the week!
Learn to use the ingredients you have
An important factor in my success with using these spur of the moment purchases is learning how to use them. Especially if they’re a bit more unique. I once used a coupon for a free tub of Greek yogurt with the intention of using it in some muffins. But, never having used, or tasted Greek yogurt before, I was unsure if it would be a good replacement for regular plain yogurt. I asked the wonderful people at our Simply Frugal Facebook page how I’d make out if I used it. They convinced me it would be wonderful and even healthier for us! That day, I learned some great tips about a product that was unfamiliar to me.
If some of your produce is starting to show its age, don’t throw it out, simply salvage what you can! This is probably the area I fall the hardest. I have intentions of turning that soft apple into apple sauce, but making it happen is another story. I get lazy 🙁
Here are some suggestions to make the most of older food:
Cut around the bad parts
Turn stale bread into croutons or breadcrumbs
Make apple sauce out of soft apples
Puree tomatoes into sauce or salsa
Brown bananas are the best for smoothies or baking
Old vegetables can be used in soups or stews
One bad potato in the bag? Weed out the rotten produce so you don’t contaminate the rest of the lot!
Know what you have
Knowing exactly what you have on hand can save you tons in the grocery budget. Make an effort to regularly go through the contents of your fridge and freezer so that nothing slips by unnoticed. Store things in clear containers so you can see the exact contents at a glance. Label your freezer food well. Learning to store your produce properly will also ensure nothing goes to waste before you have a chance to use it!
Use the freezer
By now you might have noticed that I’m a big fan of using our freezer. Here are my favourite ways to fill it up with extra food:
Freeze any dinner leftovers to make for a super simple meal on a rushed night
Put all the end bits of vegetables in a freezer bag to make broth once the bag is full
Take advantage of local, seasonal fruit and stock up, but freeze the majority of it for a taste of summer all year long. Here’s how I freeze peaches if you’re interested!
Put any extra wine, broth, tomato paste, lemon/lime juice into ice cube trays to add to meals at a later date.
Freeze extra rice to turn into fried rice
What are your tips to make the most of your groceries and leftover food?
