If you’ve resolved to make 2020 your year to better manage your money, it’s not too late to get started.
Just like the best-laid plans, taking smaller, manageable steps is often the easiest – and most sustainable – way to make big strides!
Here are 10 simple ways to start saving right now:
- Don’t wait ‘til month-end: You’ve probably heard it, or even said it yourself – I’ll see what I have left to save at the end of the month. But the key to meeting your savings goals is doing it as soon as possible, so you’re not tempted to spend “leftover” money after bills are paid.
- Get automated: Don’t trust yourself to save? Check with your bank or credit union to see what kind of options you have – as simple as setting up a separate savings account and having a set amount automatically transferred each payday!
- Check your spending: It’s easy to accumulate expenses through the year, from regular lunches with friends to your daily latte. Step back and review your routine to see where you’re spending.
- Take a spend-free day: Commit to a day or two of spending nothing – make your coffee at home, or stay in to watch a movie rather than going to the theatre. Can you incorporate this into your regular routine?
- Entertaining options: Speaking of those extras … are regular subscriptions adding up? Netflix or magazines might not cost a lot individually, but combine them to see the full cost. Is there anything you’re no longer using or enjoying?
- Utilize your utilities: Turning down the thermostat, ditching channels you don’t watch, or streamlining your phone plan can yield significant savings.
- Get thrifty! Need a new toaster? A sweater to warm up through winter? Head to your local non-profit thrift store to see if a pre-loved item might fit the bill. Bonus: You’ll also be doing your part for the environment and supporting local charity.
- Say goodbye to high interest: Why pay someone else when you don’t need to?! By paying off debts with the highest interest rate, you’ll have more money to save, or apply to other debt.
- Share the love: How can you and your friends join forces to save money? Instead of going out to a restaurant, host a potluck. Meet for a regular run and ditch the gym membership. You’ll not only save money, but have fun doing it!
- Check in: Being informed is the best way to tackle a challenge. Take a good look at your spending and use that information to create a budget that lets you save, with a little left over to enjoy the occasional indulgence.
When the unexpected happens
Despite your best intentions, sometimes life just happens. Don’t panic. That’s what options like online payday loans from MyCanadaPayday.com are for.
“As Canada’s fully licensed, online payday loan specialists, we offer a simple, secure, one-page online loan application, meaning you’ll be done in minutes,” says Sundeep Thind, manager of MyCanadaPayday’s Surrey office. “Our experienced team will look after the rest, so you can get back to those savings goals in no time!”
My Canada Payday is a Canadian-owned and operated direct lender. To learn more, call 604-630-4783 or email firstname.lastname@example.org.