Super Simple Ways to Save More Cash

Posted on June 25, 2013 by | 21 Comments

Super Simple Ways to Save More Cash

For today’s post, I’m going to cut right to the chase.  I’ve thought about a few super simple everyday things we can do to save more cash.  Count how many of these practices you apply in your life or feel free to add your favourites in a comment below.  Can you go 20/20?

  1. Avoid ATM and banking fees.
  2. Shop with a purpose. Make a list and only buy items on your list.
  3. Use coupons when you shop for groceries.
  4. Always look for sales before buying anything.
  5. Ask for discounts before purchasing any larger priced item (>$100).
  6. Take care of the products you purchase (i.e., make stuff last).
  7. Pay off high interest debt first every month (e.g., credit card debt).
  8. Limit dining out or take-out food.
  9. Take your lunch to work.
  10. Collaborate with neighbours and friends to buy in bulk (e.g. driveway sealing, landscaping supplies)
  11. Drink less booze.
  12. Stop smoking.
  13. Shop around for lower home and auto insurance.
  14. Use a cash-back or rewards credit card (as long as you pay it off every month).
  15. Carpool.
  16. Avoid using your car when a bike, a walk or public transit will do.
  17. Negotiate your cable costs.
  18. Shop around to lower your cell phone plan/bills.
  19. Make lump sum mortgage payments to reduce your borrowing costs over time.
  20. Minimize your investment trading costs (i.e., keep them to about $10 per transaction, a few transactions per year).

Are there any other simple ideas out there to save more cash?

My name is Mark Seed - the founder, editor and owner of My Own Advisor. As my own DIY financial advisor, I've surpassed my goal and now investing beyond the 7-figure portfolio to start semi-retirement with. Find out how, what I did, and what you can learn to tailor your own financial independence path. Join the newsletter read by thousands each day, always FREE.

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21 Responses to "Super Simple Ways to Save More Cash"

  2. Deane H · Edit

    Some great tips Mark. You reminded me its time to beat up on my cable/internet provider again! We also employ all of the ones Dividend Tactics mentioned. The only one we don’t do aside from the ones that don’t apply such as smoking, mortgage or work related(but did what you suggested when it did apply) are:

    1. avoid banking fees. We pay fees to receive additional perks such as safety deposit box, free cc(us &cdn) and overall are satisfied with value/convenience we receive. We also do have no fee banking accts.

    Some other potential savings areas we utilize are:

    Have our own home garden that supplies a large amount of our fresh vegetable needs in season and also by freezing the remainder of the year
    Use VOIP home phone for free LD and very cheap monthly cost
    Do nearly all home and most vehicle maintenance myself
    Buy most clothes at used clothing stores
    Combine all errands to minimize vehicle travel and lower fuel maintenance costs
    Rent unused garage space in the off season
    Make our own beer & wine (expensive here in my province)
    We throw 0% food out and rarely eat out other that when traveling.
    Learn about and invest in making your home energy efficient. Even simple sealing with caulking around window casing/build out, replace leaky gaskets etc at low cost will pay off.

    Reply
  4. @BarryChoi · Edit

    One tip I like to do is menu plan. I combine this with tip #4 so I buy what’s on sale and I plan meals around them so I waste as little food as possible.

    In a family of 2 finishing groceries can be tough especially veggies.

    Food waste can cost you tons.

    Reply
  5. Powderly · Edit

    Completely agree to some of the ways listed here to save money. It’s all about proper investment, wise spending and saving. I’m fond of coupons also, somehow help me to save some pennies especially on bulk buying. Interesting article! Thanks for sharing!

    Reply
  6. Canadianbudgetbinder · Edit

    Quitting smoking was the best thing I did last year. Not only did it save my life, I saved by not buying smokes and my life insurance was cut in half. Sometimes one saving can give the ripple effect into more savings, like in this case.

    Reply
  8. ljh · Edit

    1. Shop thrift shops and garage sales.
    2. Price match at grocery stores.
    3. Make homemade dog treats.
    4. Make homemade soup from leftovers.
    Many more cost savers when you stop to think of them.

    Reply
  9. LifeInsuranceCanada.com · Edit

    My wife is an abstainer, and I drink socially so when we dine out there’s no alcohol component to the bill. And my wife likes soft-serve ice cream so we frequently skip desert and go for a $1 cone somewhere. Our meal bill is like half of what you might expect. Next time you dine out, skip desert and alcohol and you’ll see a $100 dinner bill turn into a $50 bill.

    We also noticed a decrease in our electricity bill when we got rid of our old fridge and put our computers on a power bar that turns it off every night.

    Reply
    1. My Own Advisor · Edit

      The booze in restaurants is a killer. I suspect most restaurants don’t make any money on food, but just drinks. We try and limit our dining experiences to just one beer or wine. One of us has to drive anyhow. If we want a few drinks, we drink at home or at a friends house.

      We have a new fridge that is energy star efficient. I’m sure that helps.

      All our laptops run through power bars and they are usually off at night anyhow. Every little bit helps. Thanks for the comments Glenn!

      Reply
  10. BetCrooks · Edit

    Don’t wear socks. (Well, at least in the summer….)

    More seriously, bake your own treats especially if you have children who like them. I thought there was a serious misprint when I priced ready-baked muffins a few weeks ago. Then I found they all are those outrageous prices. And muffins aren’t even difficult to make!

    Reply

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