Save on everyday expenses
Looking for ways to trim costs and balance your budget? Try to find small changes that won’t make a significant impact on your lifestyle. Here are a few to consider:
- Minimize banking fees.
- Buy your phone, cable and Internet services from the same provider to take advantage of bundle discounts.
- Downgrade cell phones, data packages and plans.
- Switch to a lower-rate credit card if you tend to carry a balance.
- Consolidate debt into a lower-interest rate product.
- Cut energy bills by choosing energy-efficient appliances and lighting options, unplugging electronics when not in use and setting your programmable thermostat to a higher (in summer) or lower (in winter) temperature.
- Purchase a monthly transit pass instead of individual fares, find less expensive parking options or walk or bike when you can.
- Trim your grocery bill (stock up on sale items that are staples you’d buy anyway, buy in bulk, use flyers and coupons, switch to a less expensive store).
- Try to buy clothes that can be laundered at home instead of dry cleaned.
- Shop online to know the best price of something before you buy it.
- Choose less expensive brands if quality is comparable.
- When you buy electronics or appliances, skip the extra cost of an extended warranty.
- Think long-term savings, by purchasing quality items that are durable and low-maintenance, to save on repairs and replacement costs.
- Return items to the store for a refund when you’ve made the wrong purchase or if the item is faulty.
- Consider suggesting alternatives to seasonal gift-giving, like drawing names, setting a spending limit or making a gift yourself.