12 Simple Money Saving Tips

Did you spend a little too much over the holidays? Are you planning your annual budget and wondering how you can purchase a new appliance or go on a nice vacation? Here are 12 simple money saving tips to help you achieve your goals:

1.  Coffee and Tea

You can save approximately $1.25 a day if you make your coffee at home versus buying it at a coffee shop.  Over the course of a year, you can save over $450 a year.  If you make lattes at home, you can save about $3 or more a day, or over $1000 a year!

2.  Snacks and Water

Avoid buying snacks on the go and save $25 a week, or over $1300 a year!  Instead of buying a chocolate bar or a cookie, pre-pack a fruit, a small bag of nuts or a granola bar.  Fill your water bottle at home and avoid buying it at a store. Ready to save more?  Make your own protein shakes, juices and lunches at home!

3.  Refrigerator

Avoid having to throw out rotten and expired food by putting oldest food and produce in the front of the fridge so they get eaten first.  You can save about $4 a week by doing this, or over $200 a year!

4.  Groceries

Save money by buying seasonal fruits and vegetables.  Not only does it save money, but the seasonal fruits are fresher and of higher nutritional value.  Save $3 a week, or over $150 a year by doing this simple trick!

5.  Telephone, Internet and TV

Bundling multiple services with one provider can save you quite a bit.  Look into family sharing plans and discounts. You can also threaten to go to a competitor. More often than not, your existing provider will offer you a better deal to stay with them. If you don’t use your home phone, cancel it.  That is $30 a month you are wasting.  If you stream more than watching traditional TV then cancel cable TV and save some more money!  Many companies will bundle Internet with phone services so call around and see where you can save the most money. Looking for ways to cut your long distance call charges?  Apps like Google Hangouts allow you to call anywhere in North America for free.

6.  Insurance

Bundling your home, car and life insurance can save you a few bucks.  Be sure to call around to find the most reliable, but best deal.

7.  Utilities

Did you know that there are over 40 appliances and electronics around that house that are constantly drawing power and costing you money? Items such as the toaster, coffee maker, microwave and hair dryer are only used for a few minutes a day (or maybe not at all).  Reduce phantom power by unplugging unused electronics and you can save about $200 a year!  Easy right?  Set a timer on your thermostat to reduce the temperature in your home by a few degrees during the day when no one is home.  This will save you more money.

8.  Music and Games

Family sharing will help reduce the cost of buying the same song or game by multiple members within the same family.  That is saving another $10 a month ($120 a year).

9.  Assign a Home

Assign a home for all household items so you don’t need to buy doubles/triples.  Imagine you can save $20 a month, that’s another $240 a year in savings!

10.  Sales and Promotions

Buying something on sale? It is only a sale if you need the item.  If not, then you are just wasting money!!! 

11. Coupons, Flyers and Price Matching

Save both time and money.  Find the best deal using apps such as Flipp.  Saving $5 a week means another $260 in your pocket!

12. Interest

If you receive bonuses from your job or if there is a possibility of inheriting a large sum of money – spend 1/3 repaying debts, spend 1/3 on purchasing something that you need now and save 1/3 for the future (children’s education, retirement etc.).  Reducing debt allows you to pay less interest in the long run and saving for the future will allow further investment growth.  Win! Win!

If you follow these simple steps, you can save a minimum of $4000 a year!  That’s over $300 a month! Sound good?  Now let’s put the plan into action!  Happy Saving!

Pam from Zen N Organized