With Christmas over & a new year beginning, I thought I’d share my top 5 money saving tips. My husband & I share the same views on money & spending & these are things we both do & have done for years.
- Eat breakfast at home. I eat breakfast before I leave the house almost every day of the week. I make sure I have enough time in the morning to have my coffee & toast. In my previous job, there was coffee provided & a toaster so if I was running late I’d just bring something with me to toast. It doesn’t seem like much but if you’re buying breakfast or even just coffee a few days a week it can add up. Now I’m not saying you shouldn’t ever buy breakfast but I like to have a treat day where I get myself a vanilla latte from Starbucks – if I did this even just 3 times a week I’d be spending about $15 which I’d rather spend on lipstick 🙂
- Bring your lunch to work. I prefer to eat something that my husband or I have cooked anyway, I know what’s in it & how it was made. We try to make at least one extra portion for dinner so that I can have it for lunch the next day. Again, I do treat myself but when you think about how much the average lunch can cost, the savings add up.
- Give yourself a weekly cash allowance. I give myself $20 a week to spend on whatever I want – coffee, lunch, lip balm – I think of it as my money to blow. All other purchases are planned in advance & budgeted for so this money is earmarked for small things I want during the week.
- Use a credit card with cash back rewards. The one I use gives me 3% cash back on groceries & gas & 1% on other purchases. They issue a cheque once I’ve accumulated $50 & I put that money in a separate bank account & save it for a purchase either hubby or I are thinking about. I paid for my Louis Vuitton purse this way!
- Plan for large purchases. I always think about what I want to buy, research it & compare prices before I actually buy anything. By doing this, I ensure I’m buying something I really want & am getting the best price for it.
I hope that I’ve given you some ideas on how you can save money. I’d love to hear your tips, please leave a comment with your tips below 🙂