We’re all looking for ways to save money. A good first step to build your savings account is to lower your cost of living. Whether your savings goals include a down payment on a home, an emergency fund, you want to save for retirement, or you simply need more money each month to cover your expenses, these small but impactful saving tips can help you find money – potentially lots of money! – in the long run. Consider these tips to help you put money away and start saving!

How to save money in 5 simple steps

Start a carpool

Those who drive to work everyday end up spending thousands of dollars on gas each year. Starting a carpool is an easy way to spend less on gas every week. Not only are you saving money, but you’ll be reducing your carbon footprint at the same time. The more people in the carpool the better!

Buy non-perishable foods in bulk

Buying non-perishable items in bulk is an easy way to save lots of money. Look at the cost per unit of all of the sizes and choose the best deal. You can also use coupons, or take advantage of multi-buy deals at your local grocery stores, to save more money each month.

Consider buying no-name brands

No-name brands are strikingly similar and priced lower than most of their mainstream brand counterparts. Switching to no-name products can significantly reduce your weekly grocery bill and can save you hundreds of dollars over the course of a year.

Make your own coffee at home

Buying coffee on a daily basis can really put a dent in your budget. You may not notice it right away, but over long periods of time, it really adds up. By making your own cup at home every morning, you can add a few extra dollars to your savings plan and avoid the unnecessary waste of a paper cup!

Remove unnecessary features from your cell phone plan

It’s likely that there are unnecessary fees, or some features you’ve forgotten about that you’re paying for. Double check to ensure you’re not paying for anything that you don’t use often.

We bet you’re not the only one who’s looking for tips on how to save money this year. Try these money saving tips with a family member or friend to keep each other motivated and ensure you both stay on track. Sometimes it’s not just what you buy, but where you shop.

Lowering your cost of living doesn’t have to be difficult. By following these tips on how to save money, you can reach your savings goals in no time, and purchasing your next home can happen sooner than you think! Happy budgeting!

RELATED READING: Find out where to find fabulous furniture on a budget!

More to Explore

Curb appeal tips

Top 5 Summer Curb Appeal Tips

April 23, 2024

Apartment rents in Alberta

Rents in Alberta Growing Fastest in Canada

April 22, 2024

financing

Financing Options: What Every Move-Up Home Buyer Should Know

April 20, 2024

friends

What to Know About Buying a House with Friends

April 19, 2024

home

Financial Planning Tips for First-Time Home Buyers

April 18, 2024

Capital Gains Tax on Sale of Real Estate

Canada Will Not Apply Capital Gains Tax to Primary Residences in New Budget

April 17, 2024

CMN Hospitals Corporate Partner of the Year Canada_REMAX

RE/MAX Named 2023 CMN Hospitals Canadian Partner of the Year

April 17, 2024

2024 federal budget impacts homebuyers

2024 Federal Budget: Key Takeaways for Housing

April 17, 2024

The Miracle Home and Miracle Commercial Program

RE/MAX Cares: The Miracle Home and Miracle Commercial Property Program

April 17, 2024

Find the
Right Agent

Sign up
For Our Newsletter

Hidden

Next Steps: Sync an Email Add-On

To get the most out of your form, we suggest that you sync this form with an email add-on. To learn more about your email add-on options, visit the following page (https://www.gravityforms.com/the-8-best-email-plugins-for-wordpress-in-2020/). Important: Delete this tip before you publish the form.
Untitled(Required)

*RE/MAX, LLC, 5075 S. Syracuse St., Denver CO, 80237; RE/MAX Western Canada and RE/MAX Ontario-Atlantic, 639 Queen Street West, Toronto, ON M5V 2B7, 905-542-2400