Where has all the money gone?
Given the less-than-admirable current financial state, it’s especially important to look at ways to save your hard-earned money. Here’s 5 quick and easy ways to help you save more money right away:
- Buy Grocery in Bulk
Reports outline savings of as much as 10%-15% when purchasing groceries in bulk. Online grocers such as Grocery Gateway are becoming increasingly popular and often offer significant savings for purchasing in bulk. Besides, who doesn’t want five packs of deliciously nutritious Pop Tarts in their cupboard?
- Put 30% of Your Paycheck in a Savings Account
It’s really easy to indulge on payday – regulate that urge by putting away 30% of your paycheck in a high-interest savings account. You’ll thank yourself later when that money accumulates toward the purchase of that brand new 5- speed manual BMW. Or that brand new 5-speed mountain bike. Whatever floats your boat.
- Reduce Phone Extras
“This message is directed to a voicemail service that has not yet been set up by this customer. Thank you, goodbye.” Seriously, if you’re not going to use your voicemail service, cancel it! You wouldn’t pay extra for a delicious piece of chocolate cake after dinner and NOT eat it, right? (I sure wouldn’t) The same applies to phone extras outside of voicemail – call forwarding, caller ID, long distance calling, etc.
- Take Advantage of Bank Programs
The Canadian bank marketplace offers a multitude of money-saving options. Scotiabank’s Bank the Rest program can save you over $500 dollars a year just from purchasing lunch 3 times a month or more.
- Track Your Spending
It may come as a surprise, but knowing exactly where your money is being spent most will definitely help you look to what expenses you can cut out or reduce monthly to save money. Sites like spending profile offer a free, useful online portfolio designed to help track your monthly expenses.
Take advantage of these 5 important ways to save money and I assure you’ll see results instantly. It worked for me – I’m now the proud owner of a brand new, shiny 5-speed mountain bike.