Life is expensive. A seemingly loaded bank account can quickly evaporate from a monthly onslaught of recurring bills, seemingly minor purchases and daily expenses.
You can, however, cut into your monthly expenses in numerous ways. You have likely heard money saving tips such as saving loose change, buying in bulk and couponing. We are not going to be talking about those things (although hopefully you are doing them). Instead, we are going to help you save by discussing seven incredibly creative ways to save money.
1. Pay more attention to your teeth
Root canals are expensive. So are crowns, fillings and other fairly common dental procedures that most people undergo. You can, however, reduce your need to undergo procedures like these by taking better care of your teeth.
Try bringing a portable toothbrush to work so that you can get rid of all of the food residue after lunch and any snacks. Also, be sure to floss everyday (many dentists consider this to be more important than brushing).
2. Pick a bank that will pay you (not the other way around)
Many banks make a substantial profit by charging their customers chequing fees, minimum balance fees, ATM fees and overdraft fees. You do not have to suffer these expenses. There are many banks that forego most of these types of fees — and sometimes even pay you interest for having an account. Most of them will be local banks.
3. Get your hair styled or cut at a beauty school
Beauty schools will charge you next to nothing (if they charge you anything at all) to get your hair styled or trimmed. Most beauty school students are highly experienced in their craft and are simply trying to hone their skills and earn a certification in the process, so you can bank on them doing a good job.
4. Stop (accidentally) wasting electricity with surge protectors
Most devices have a standby mode that causes them to continue using between 10 and 100 percent of the power they consume when in use; and this can really hurt your electricity bill. It isn’t exactly practical to unplug everything when you are done, so use surge protectors everywhere and switch them off when you are finished.
5. Print your own greeting cards
If you send ten relatives greeting cards on just birthdays and Christmas, you have just spent (at least) $100. Printing out greeting cards cuts this cost to only a few cents per card, so you will end up spending no more than a couple of dollars.
6. Share your (or someone else’s) Netflix account
Online streaming sites are great for instantly accessing your favorite movies and shows. Sharing the use and cost of these accounts will cost you less than $10 per month. You may even be able to cut back on your cable bill altogether!
7. Drink more water
Juices, soft drinks, and alcohol are not as good for your health as plain old water. Plus, water costs a lot less than the alternatives (especially if you decide to drink filtered water instead of buying packs of bottles).
For more creative ways to save money…
Contact Credit Counselling Services of Atlantic Canada. Our financial counsellors can help you create a budget that involves even more creative ways to save money. Call us at 888.753.2227 or contact us online.