20 Ways to Save Money on Everyday Expenses

Saving money and cutting expenses has become a necessity for many Canadians and their families. There are literally thousands of ways that we can save money by making simple changes to the habits that we've developed.

Today we're looking at 20 various ways to pinch those pennies:

Household Expenses   

Grocery Shopping 

Use coupons for the products that you already purchase whenever possible.

Utilize price matching guarantees to save the cost of fuel by driving to multiple grocery stores.

You can save hundreds of dollars each each by comparing price per units on shelf labels. This is great information to store in your price book.

Cleaning Products   

Use sponges rather than paper towel for clean ups and spills. If they become smelly, give your sponges a bath in baking soda and water to refresh them.

Use newspaper rather than paper towels to clean your windows and mirrors. Plus it's the best at a streak-free clean.

Make your own cleaning products rather than purchasing heavily marketed products.


Banking   
Chequing Accounts  

Choose no fee or low fee chequing accounts. Some great examples are PC Financial (with rewards points for groceries) and BMO Club Sobeys (also with rewards for groceries)

Opt for direct deposit whenever possible for employment income, government returns, etc. This will give you immediate access to your money without spending the fuel and time to drive or take pulic transportation to your bank every week.

Inquire about fee discounts for child accounts, student accounts and senior accounts.

Savings Accounts  

Although the interest rates are pretty low these days, it's still best to try to get the most return on your investment dollars. Choose higher interest savings accounts like ING Direct or ALLY.

Credit Cards  

Lower the total interest you pay by paying off your balance every month.

Choose credit cards which have rewards so you get more for using their card services. Remember to pay your balance each month to get the full value of the rewards you've earned.

Do not pay annual fees to have a credit card in your wallet. There's plenty of credit card options that are free of annual fees.

Tax Time 

Complete your taxes as soon as your slips arrive. The sooner you file, the sooner you receive your refunds and can invest it to start earning a return.

If you owe money at the end of the year for taxes, it's best to pay your outstanding debt as quickly as possible to avoid accrued interest charges.


Transportation   
Fueling Your Vehicle   

Avoid the weekend prices by refraining from filling up on Fridays as well as the day before long weekends and holidays.

You can save up to $100 a year on your gas bill by keeping your engine tuned and your tires properly inflated. Check your vehicles manual or wall of tire for proper inflation details.

Reduce the amount of money you spend on fuel by following these fuel conservation tips.

Insurance 

If you don't drive very often, your car insurance may be less. Check with your insurance company to see if they offer a discount for individuals who drive fewer than the specified number of kilometers each year.

Take advantage of affiliate discounts such as College Alumni, employer, club, etc when applying for or renewing your insurance. Ask your insurance company if they have association discounts.


Car Rentals  

Rental car companies offer various insurance and waiver options. Check with your won auto insurer in advance to avoid duplicating any coverage that you may already have.


We continually discuss and review the various ways to save money. For more ideas on how to cut expenses and put more into your pocket, click here. We love to hear the ways our readers save their biggest dollars too! Please leave us a comment below.