Examine the source of waste in your budget. The less wasteful spending the more financially efficient you become. Imagine what you could do with the “found” money! Right now Tightwad has a small home reno on the brain and she knows what she would do with it, upgrade the faucet hardware! Here are some potential sources of found money, just slipping through your fingers…
Don’t pay full price Seek sales. Avoid paying full price. Negotiate – you have nothing to lose.
Plan your meals Eating out is a huge way to flush money down the drain (literally!!!) The secret? Take meat out of the freezer and stick it in the fridge to thaw overnight so it’s ready for dinner the next day. Pair with a salad and some veggies and you are good to go.
Organize your finances Pay attention to where your money is going to avoid overdraft fees, bounced cheques and NSF charges, and other fees. Look for a financial institution that doesn’t charge ATM fees or that refunds them - a bank that makes it pay to use their services.
Get rid of stuff you don’t use Look over your subscriptions and memberships. If you aren’t going to the gym, using those phone minutes or reading that periodical it’s time to cancel.
Quit paying for stuff you can get for free! Many museums have a “free day” during the year. Libraries are a terrific year round free source of the latest books, magazines and movies. Watch for restaurants that offer “kids eat free” nights. It just takes a little planning.
Use purchase power Buy bulk. For example, let’s face it, bottled water is a rip off… but it does serve a purpose in a pinch. Buy water in six packs; which are often the same price as a single serving that you get at a vending machine.
Earn interest, don’t pay it Instead of paying interest, pay down your debt and look for ways to earn interest through savings accounts or reward chequing account.