Saving Money in 2013
English: ceramic piggy bank (Photo credit: Wikipedia)
Saving money in this age of austerity can be a difficult task, with many of us struggling to make it from paycheck to paycheck it has never been more important to keep track of how we are spending our money. With many of us becoming dependant on finance such as our credit cards, it can seem impossible to save money, pay off debts and live a happier financial life. Well don’t despair, there are ways, whatever our incomes, that we can make small changes in order to save a small amount of money, that will soon add up to a comfortable nest egg.
Before you read on, there is help out there if you are in the midst of a financial crisis that you may want to deal with before you start thinking about saving money. If you have an emergency situation, medical bills or an unexpected bill that has just landed through your front door, then you need to makes sure these have been paid or organised before you can take the next step.
If you have exhausted all other avenues to get you out of a tricky situation, then you may want to consider a short-term loan. These should only be used in an emergency situation but they are very useful for getting help in between pay cheques. You must make sure that you know the interest rates, repayment date and exactly what your loan will be used for before signing on the dotted line. If this sounds like something that will help you out of you crisis, then simply search for quick loans online in Canada and you can get all the information you may need.
One of the easiest ways to start saving a bit of extra money is to look at all your expenditure and see what small purchases you make regularly that could be cut out. We all do it, you get into a routine of buying that latte on the way to work, but that is an extra $5 a day. If you cut out the lattes you would be saving yourself an extra $150 a month – now that’s a nice nest egg for a rainy day!
One of our biggest expenditures each month is our food bills. The cost of food is set to rise again this year and when you are living on a tight budget this is probably the last thing you want to consider. There are two great ways to save on your weekly shop, collecting coupons and getting your hands on a supermarket reward card. Over the years, coupons have had a lot of stigma attached to them, but you really should forget that, they are a great tool for helping you spend less and eat more. The general variety of coupons will either give you a percentage off certain foods, or a buy one get one free offer. Either way they are great for stocking up on the essentials you need each month.
The other option for saving some dollars is to grab a points reward card from your local supermarket. There are also many big name stores that offer the same for clothing – these cards are perfect for larger savings spread out over a month. They work by giving a point every time you spend a dollar in their store; for example, if you spend $50 then you will gain 50 points that can be used against future shopping. This works perfectly when you have a large shop to do, such as a dinner party or a birthday where you will be spending more than usual.
In conclusion, there are many ways that we can change our spending habits to save some extra cash each month. You don’t have to give up your lifestyle, just make small tweaks and you will soon see the benefits.
This guest post is a contribution by Janice Thompson.
Category: Saving Money
