Many people live paycheque to paycheque. In order to get the most out of your budget, here are some money hacks that can really make a difference by month’s end.
If you are serious about saving money, it is important that you plan out your meals. If you know in advance what you are getting when you go to the grocery store, you won’t buy whatever looks good when you are there.
Also, don’t forget about buying in bulk. If you have space issues or just can’t see yourself eating an entire case of something, organize your friends (someone probably has a Costco membership) and get the staples everyone needs at a lower unit price.
If you’re looking for fresh fruit and veggies, try your local farmer’s market. Pro tip: sometimes farmer’s market prices are the same if not more than the grocery store. If you’re looking for a deal, visit at the end of the day. Most farmers discount their produce rather than load it back on their trucks.
You can plan your meals around deals and savings to save even more money! Make sure you know which grocery stores in your neighbourhood offer price matching. Then download an app like Flipp or Reebee. They’re easy to use and can save you a ton of cash!
Too many people spend money on things that they don’t really need such as magazine subscriptions, online box subscriptions or impulse shopping on Amazon or Instagram. Ask yourself, do you really need that miracle cat carrier backpack? Establish a one-week rule: if you still want it a week later, then pull up your budget and try to fit it in.
What about your phone bill? Check your data usage. Can you find a way to cut back on your data? If you’re under your data cap, is there a cheaper plan available?
Do you need all of your cable channels? Do you even watch cable TV? Compare your media consumption to what you are paying for. Maybe just having a Netflix subscription instead of a full cable TV package might be a solution.
How about your car / home / other insurance policies? You would be amazed at how much money you may be able to save if you just checked your insurance rates at least once a year. Most of the time, you should be able to find a better rate.
That being said, you shouldn’t go for the cheapest because you are getting what you paid for. You need some coverage in case you need it.