When we talk about saving money, our minds often go to cutting back on non-essentials. Yet, everyday expenses can quickly add up, impacting your household budget significantly. Making minor adjustments to your spending habits can make a substantial difference in your finances.
Discover How to Save Money on Everyday Purchases
Telling yourself to forgo your daily coffee may not be the solution. Life should be enjoyed, and with the rising cost of living in Canada, finding ways to save on daily essentials is essential. However, constantly monitoring your finances during everyday purchases can be exhausting.
So let’s talk about 10 tips we have to help you save money on your everyday purchases. Stay inspired by finding some influencers to follow on social. After all, Moola is here to help you to double down on your savings and stock up on everyday essential deals, like gas, groceries, and food delivery.
1. Simplify with Subscription Cancellations
2. Consider a Cost-Friendly Relocation
You’d be surprised at how much more affordable it is to maintain a fruitful lifestyle outside of the country’s major urban centers when you aren’t paying thousands in rent each month. Relocating to a more economical location can help you save big on everything from housing and groceries to everyday items and activities. The overall cost of living can be lower outside of big cities, so saving money could be even easier!
It doesn’t mean you have to move away from your friends and family. But, perhaps moving a little further out might work.
3. Round-up and automate your savings
Automatically rounding up your purchases to the nearest dollar and investing the difference can boost your long-term savings. Numerous apps offer this feature, making it effortless to grow your savings.
4. Embrace Meal Planning
Planning and preparing your meals at home can keep your stomach filled with nutritious eats and your wallet with extra cash. A great way to cut down on your food costs, and reduce food waste, is to map out what you’re eating for the week and the exact ingredients you’ll need.
Meal planning apps can help you organize and prioritize your shopping list, so you won’t overspend. There are also a few other apps on the market where you’re able to input the random ingredients that you already have on hand, and it will pump out instructions and recipes for complete meals. Say goodbye to food (and money) waste!
Avoid making impulse purchases at the grocery store by shopping on a full stomach. Placing your order online for pick-up or delivery can also help you stick to purchasing only the essential items on your list and avoid falling victim to the many subliminal advertising pitfalls that grocery stores use to get you to spend more. Consider subscribing to a meal kit delivery service, like goodfood and Fresh Prep, which makes meal planning a snap and supplies only the ingredients that you need.
Don’t forget: if you happen to buy more than you need, you can freeze the extras. You might be surprised at the foods you can freeze!
5. DIY Projects for Savings
Saving money can be really easy by fixing what you already have. From changing your brake lights to fixing your bike chain or refinishing that old piece of furniture you found at a garage sale, fixing what you already have can make a huge difference. We all have things around our home waiting to be fixed for a fraction of the price of re-buying.
I totally get it, not everyone was born handy. Luckily, you can find the instructions or learn how to do pretty much anything yourself by watching tutorials on YouTube, Google, or Instructables.
You don’t need to amass a huge toolbox to complete your projects. Save money when your project calls for special equipment or tools by renting them, borrowing them from a friend, or becoming a member of a local tool library.
While you’re fixing things up around your home, take a look around and see what you’re still using. If you’re not using it, consider selling the item or perhaps renting it out on a sharing platform. You never know!
6. Streamline Your Social Media
Limit your exposure to targeted ads and FOMO-inducing content by unfollowing fashion, travel, luxury brands, and influencers promoting excessive spending. Reducing screen time helps you resist impulse purchases and supports your financial and mental well-being.
7. Join a Buy Nothing group or try a Buy Nothing day or No Spend month
Buy Nothing Groups are hyper-local Facebook groups where members post free items to give away to their neighbors. It’s all part of the new “sharing economy”.
I’m always amazed at the diversity of items posted on my neighborhood Buy Nothing Group. I can find pretty much everything – furniture, kitchenware, books, toys, craft supplies, and more. These groups also allow you to post items that you are “In Search Of“ (aka ISO). It’s surprising how often someone has that extra thing-a-ma-bob you need.
If you’re up to it, you could even try out a spending freeze on certain categories in the grocery store or other spending areas. Try not to buy any nonessential items for a week (or even a month or a year). Try it out as a social experiment to see how long you can last and what you learn about yourself and how well you succeed with saving money.
8. Bundle and save on your reoccurring expenses
Hot money-saving tip: Set a reminder in your calendar for when your contract for utility services runs out. This is the best time to re-negotiate your current deal or look around for new deals. Saving money can be as easy as making a phone call to your existing service provider.
9. Choose Cost-Effective Commuting
Cut car-related expenses by joining car-sharing networks, using rideshare services, or transitioning to biking, walking, or public transit. Reducing car usage can lead to significant savings and environmental benefits.
10. Change the way you pay with Moola & build in support for your spending goals
Sticking to a budget can be tough. But, using Moola is a very effective shopping strategy to boost your resolve.
Moola eGift cards can be used at over 200 shops, services, and restaurants in place of a credit card, including groceries, cosmetics, clothing, and food delivery. Not only will you be saving money on amazing brands, you’ll also be sure to keep your budget in check. What’s even better is that you won’t be paying more interest on your spending.
Don’t have Moola yet?
Download Moola from your app store now Bundle products or services to enjoy discounted prices and simplify recurring bill payments. Utility providers often offer discounts when you bundle services, such as home and car insurance or internet and cable. Keep track of contract expiration dates for negotiation opportunities.