Saving Your Hard Earned Money – 20 Simple Ways I Save Money

Finance Fox is predominantly about debt, saving money and becoming a wiser consumer. I written many times before on different ways to save and even shared with y’all my secret – paying a 10.9% fee on loose change savings. However, despite writing over 27 articles this year on saving your hard earn money, I’ve decided to write another post on saving money. What’s different this time around? I’ve incorporated my self and how I save money on a day to day basis in a simple and easy to follow numbered format list.

I promise that this won’t be a dull post or a long read. In fact this post only has 667 words.

Below are 20 ways I save money on a day to day basis. Enjoy!

1. I use “light” cable for my Internet versus a heavy duty package. 25GB monthly download allowance is ample for me.

2. I track my spending with my personal bi-weekly budget. This budget gives me a great idea where my money is going.

3. I use cash only when shopping for groceries, household items and clothing. It keeps me in check and within my budget.

4. I cook at home about 5 times per week, even though it’s tough to cook for one sometimes.

5. I make my own coffee at home and avoid buying coffee on the go.

6. I do my laundry only once a week.

7. I don’t pay any monthly banking fees, because I negotiated no monthly fees for having 3 products from my bank. (Mortgage, RRSP, Business Account and Credit Card)

8. I don’t rent movies anymore. I pay $8/month for my Netflix account, giving me unlimited movies to watch. And I’m totally find with older movies, most of which I’ve never seen before.

9. When I do get the urge to see a newly released movie in the theater, I only go on matinee night (Tuesday). Movies are half price.

10. I frequently visit the library to appease my reading addiction and when I do want to purchase a new book, I only buy from Amazon. Books are up to 50% cheaper than at Indigo (store or online) and free shipping over $25.00 and my order arrives the next day.

11. I don’t spend any of my change. Instead I collect it all in a jar and once a month I exchange the coins for cash. I use the cash and directly deposit the money into my TFSA.

12. Majority of my shopping consists in outlet stores or factory stores. Savings are greater and I don’t need the latest fashions.

13. In summertime, I don’t dry my clothes in the dryer, instead I dry it on the balcony.

14. I have two credit cards and both have interest rates under 10 percent. And no, the interest rates are not teaser rates.

15. I shop by looking for the best deals and incorporate coupons as much as possible into my grocery shopping. Check out my friend Cassie’s website for excellent coupons, freebies and the best savings – www.mrsjanuary.com

16. I do my own home improvements. Yes, this can be tricky at time, but very rewarding. Just finished hooking up my new dishwashers, saved a nice chunk by not paying someone else to do it.

17. I don’t subscribe to any subscriptions.  I enjoy reading magazines like MoneySense, but I catch up with my reading online for free.

18. I used to use a dumb savings route by trying to save money manually. Now, all of my savings are automated and set in institutions away from my day to day banking, making it harder to access the money. Think Ally (2% interest rate) and ING Direct (1.5% interest rate).

19. I don’t use a land-line phone. All of my business and personal calls go through my cellphone.

20. I sign-up for freebies and samples wherever possible. There are tons of free sample products, books and trials available online for everyday consumers.

Once I wrote this article, I realized that some of these tips won’t apply for everyone. However, they do work of me. I’m sure there are many more avenues for me to save money, but overall, I think I’m doing a good job. Hopefully some of these tips can help you out or maybe inspire you to becoming more frugal or add to your already existing frugal arsenal.