If you’re like one of many people who have made saving money their new year’s resolution, you’re not alone. Making small changes throughout the year can help you save big in the long run. We’ve rounded up some ways that can help you tackle your money-saving goals.
1.) Track your Expenses
It’s easy to guess how much we spend per month, but instead of guessing, get a more accurate look at your expenses. Look through your bank account or credit card statements for the month and separate them into categories so you can easily see the breakdown of your monthly spending. These categories can be things like groceries, electricity, car & gas, clothing, medical, miscellaneous, etc. This way, you can see how much money is going to each category and where you are able to cut back.
2.) Food Savings
After breaking down your expenses, you may realize you are spending way too much on going out to eat, or purchasing take out. When you factor in the price of your meal, tip and even the gas money it takes to drive to the restaurant, it can really add up. Cooking more at home is not only easier on your wallet, but it allows you to use up what you already have at home. If you’re someone who loves grabbing your fancy morning latte or lunch time cappuccino every day, why not invest in a coffee maker and milk frother for home? You can even add a few drops of vanilla, a pinch of cinnamon, or whatever flavouring you prefer to make a fancy coffee drink without having to spend a fortune in the long run.
Another way to save money regarding food purchases is to invest in items that can help prolong the shelf life of your food. FoodSaver is a food preservation system that includes vacuum seal bags, vacuum zipper bags and containers designed to work together with vacuum sealers for optimal performance. The system removes air from bags and creates an air-tight seal to lock in freshness and protect food from spoiling. As well, dehydrating fruit using a dehydrator is a great way to have an endless stash of healthy snacks!
3.) Energy Savings
If you see an opportunity to cut back on your home electricity and utilities bill, there are so many little ways you can save money in this area. These include:
- Turn off any lights when they’re not being used
- Unplug any unused electronics
- Take shorter showers
- Wash laundry in cold instead of hot water
- Hang laundry to dry
- Swap any old lightbulbs for energy efficient ones
- Wear warm sweaters and pants or use blankets instead of tuning up the heater
BC Hydro has a full list of all the ways you can cut costs, which you can view online here. Another great way is to invest in a smart thermostat. These can be easily controlled from your phone, tablet or laptop, and can be used to check your energy history, to see how much you save and see how to save money. As well, they can turn themselves down when you leave your home.
4.) Brand Swap
We all have our tried and true favourite products that we restock or often reach for. But if your goal for 2021 is saving money, and you are struggling to find items that won’t break or break the bank, the London Drugs family of brands is for you! The line up of “by London Drugs” products offer quality items at great price points. Each line has products in different categories:
- Today by London Drugs – Everyday essentials
- Collection by London Drugs – A unique assortment of items, from food to home decor
- Wellness by London Drugs – Vitamins, supplements and wellness products
- Eco Essentials by London Drugs – Planet-friendly products
- Trusted by London Drugs – Batteries and computer components
- Certified Data – Computing products and accessories
We hope you found these tips helpful. Remember, you don’t have to try all of these tips at once. Start with one, and then slowly incorporate another into your lifestyle. By keeping track of your expenses and making small changes, reaching your money-saving goal for the new year may be easier than you think!