25 Ways To Save Money Every Month
25 Ways To Save Money Every Month
By: For Saving Heating & Cooling
Managing your finances can be a daunting task, but when you take small steps toward saving money each month, you can make a big difference in your financial well-being.
Here are 25 ways to help you achieve your savings goals every month:
1. Upgrade To An Energy Efficient HVAC System
When you upgrade to an energy-efficient furnace and energy-efficient air conditioning you'll be able to cut up to 70% off your energy bill.
Of course, there will be an upfront cost but there are HVAC companies like For Saving that offer buy now pay later plans with 0% financing.
2. Check The Benefits From Your Workplace
There are many benefits that your workplace can offer, such as child support and discounts to local supermarkets, a better healthcare plan, and so on, so if you want to get the most out of it, then you can do that!
3. Use Resale Platforms
Hunt for used or brand-new second-hand items and exchange the ones you don’t like, but still keep as a part of your wardrobe.
This is an excellent way to make some extra money that you can later save.
Shop on Facebook Marketplace or eBay or Kijiji and find bargains.
4. Notice Your Gadgets And Appliances
There is a certain amount of electricity you spend every time you leave an appliance turned on or just leave it plugged in.
If you change this behavior, juice up for a few hours during the day, and unplug later, you will save plenty on your electricity bill.
5. Match The Price
Make sure to always shop at stores that have a policy of matching a price. This is not the case with everyone, so browse carefully and see what would fit you. All you need to do is have thorough research online.
6. Be Patient
This especially goes for people who are shopping online. Once you fill in your basket and you are ready to check out, don’t go to the payment option immediately. Instead, leave the products there for a day.
They will notice that you are not buying anything, so oftentimes companies send a one-time discount code to push you to make the purchase.
7. Track What You Spend
If you want to see how much you are spending (and maybe put a break on it), then you need to be conscious about how much you are spending, and where.
There are many budget apps that you can download on your phone so they can help you get started.
Along with the budgeting tools that they offer, you will get to become a mastermind in spending (and saving) money!
8. Go Paperless
Become an online customer and remove all the paper energy bills. This is how you are more likely to get a better deal and even a cheaper plan.
Also, there is the added bonus of following your account online through your phone.
9. Check Your Pension
It is important to make sure you are getting the most out of your pension plan from your workplace. Once you start at a new position, you should receive a pension plan and the percentage of your salary that goes toward that.
Make sure it is an adequate amount and let your employer know once you agree on a sum. It is incredibly important to save up for retirement, and do that from now because when the time comes, you should be happy with the pension you get!
It is basically free money that you have saved yourself – for yourself!
10. Have A No-Spend Day
This is the best way to practice self-discipline. Try having a no-spend day at least one day a week, and see how it goes. This is a baby step that you can incorporate much better in the long run. It is very simple to do it.
Refrain from buying anything that day. Whether it is a cup of coffee or food instead of cooking your lunch, try to make the most out of it. Add a lot of coffee in a coffee pot and take it with you everywhere you go – this is how you will get free refills all day!
11. Cut The Grocery Bill
This seems like an incredibly difficult thing to do, but trust us, it can be done! It also seems like the most obvious way to cut down on your spending, but it is easier said than done. Next time when you go to a store, try buying only what you need.
However difficult that may be, sticking to a list can allow you to go home with a smile on your face, without ever worrying that you have spent too much on things you don’t need.
12. See Your Insurance Policy
After the pandemic, a lot of people stayed and continued to work from home. In this case for example, if you have insurance on your car and you are not driving the car every day, check to see if the insurance still fits. Instead of letting it renew itself, check and change it if needed!
13. Claim Back Any Money You Can
You may have a forgotten bank account or a tax rebate – check for this if you want to save up some money. You just may have some savings stacked up somewhere where you can’t remember.
13. Waste Less Food
Think about it. Almost all of the food that you are throwing out is still edible. This can be noticed by simply looking into what is in your trash can.
If you start making some more conscious efforts about what you buy. Check out the best before dates and be mindful of the quantity of food you are buying.
14. Shop For Local Brands
If you want to slash the money you spend, instead of branded products, try shopping from local brands. This can be for anything from pasta to liquid soaps, to branded clothing!
You can even take it a step further and do blind testing on your family for some foods – we bet they will never notice the difference!
This is probably something you have never heard of up until now, but it is a smart move to make if you want to save some money.
Talk to your mortgage broker and see the deal they have to offer you. If it seems like it is the right time to remortgage, then do it!
16. Switch Your Supplier
If you dedicate a little bit of your time you will notice that you can easily switch any of your suppliers and receive lower household bills.
If you have not done this until now, maybe it is time to take a look at it. Check for cheaper deals, and if they fit you, accept them!
17. Avoid The Buy One Get One Free Deal
We can only imagine how many times you have walked out of a supermarket with something that you bought based on this offer. Well, think about it, have you really needed anything from that?
This is not so much a money-saving opportunity as it is a money-spending opportunity. On top of it all, it does not only make you spend more money, but it also contributes to food waste too!
18. Weather The Storm
It is important to push through when times get tough, so this is something you should always keep in mind.
If you feel like your savings have lowered lately, all you need to do is try to do a little better, and if you are unable to, just note that better days are yet to come.
19. Work From Home Tax Relief
If you are working from home, you can claim your tax relief. All you need to do is a couple of clicks online and you are good to go!
20. Get Saving Savvy
One of the best ways that you can manage your money is to take a portion of it and invest it. You do not have to be an expert on the subject – all you need is an app and a little research to get started!
21. Stop Splurging On Payday
All of us are waiting on that sweet payday, but none of us have thought about how difficult it is to refrain from spending money on the same day.
In this case, try practicing a little self-control. Try going the first day or two without spending money from your bank account – you will be happy that you have done that.
22. Use An Incognito Browser
If you want to shop online, for literally anything, it is always better to go incognito. Whether it is shoes, airline tickets, or clothes, you can get some of the best deals if you are shopping incognito.
This means companies cannot look into what you are interested in.
23. Keep On Track
Try not to let the money slip away from you. Download a digital bank app and get some help managing your money. This is how you will see exactly what you spend, and where.
24. Save, Then Spend
Last but not least, the one thing you need to remember is that you should not spend money you don’t have. Instead, try to save up some money first, and spend them later. This is an excellent approach, especially in those cases where an emergency arises.
25. Buy A Smart Thermometer
When you buy a smart thermometer you'll be able to automatically set the temperature of your home accordingly so you don't spend any more than you have to.
So when you're not at home you can lower everything down automatically without you having to physically be at home.
If you have any questions about our article "25 Ways To Save Money Every Month" or want to learn about our energy-efficient HVAC systems in Toronto that'll help cut your monthly energy bill by up to 70%, feel free to call us at 416-543-0641 or chat with us in near real-time on our Facebook fan page.
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