Saving money can be quite a challenge, especially when the thing you want seems so far out of reach. You’ve probably heard the usual saving tips before, setting a budget, cutting down on leisure spending, so in this article we wanted to explore some money saving ideas you may not have considered.
1: Make Your Own Coffee
Tim Hortons is a proud morning tradition for millions of Canadians, And to be fair it’s the cheapest option around when it comes to Coffee on the go. Especially when you compare it to the likes of Starbucks. However, cheapest doesn’t mean it’s free. And those $2-$3 a day start to build up quite quickly.
Instead it’s worth investing in a travel mug and brewing your own coffee in the morning. It’ll be an adjustment at first but it will save you money in the long run. And if you do end up having to make an emergency Timmy’s run, they offer a discount for bringing your own cup.
2: Never Shop Hungry
Common wisdom is to not buy food when you’re hungry and that’s simple enough to understand, when you’re hungry you want food so you’re going to end up buying more and probably a bunch of unhealthy snacks too.
However what you probably don’t know is that this rule applies to all shopping, not just food. Studies have shown that hunger increases the likelihood to buy things in all categories of shopping, even as simple as office supplies?
Why? Well researchers theorize that the psychological difference between “I want food” and “I want” are not so far apart, and so hunger can quickly turn to simple desire for things. Safer to go shopping after lunch if you want to save money.
3: Cancel TV
Be Honest with yourself, when’s the last time you turned the TV on to watch anything other than the news or the weather channel. The truth is that traditional television where you have to watch things “when they’re on” and deal with constant intrusions from ads is completely outdated in the age of YouTube, Netflix, and the Weather app on your phone, and yet you’re probably still spending a crazy sum of money on it.
4: Going Meatless
Most people will give a moral reason for going vegetarian or vegan, but there’s a pretty strong case to be made for the economic reason too, meat, especially red meat, is really really expensive and it can be much cheaper to switch to a meatless diet.
If that’s completely impossible for you, an easy place to start is to try “Meatless Mondays”. It doesn’t have to be Monday but the idea is to try at least one night a week where you don’t eat meat. Even those nights can start saving you money.