Smart Savings Ideas

Smart Savings Ideas

When you start making money, it is a wise idea to learn how to save it. Saving money each month can help you grow your business, take advantage of opportunities, and provide you with a nest egg. 

Saving smaller amounts over time is always a great idea, but the more you can save the better – of course

Here are several smart saving ideas that can help you begin to achieve your financial goals. 


When there are deals on things you buy regularly, you should stock up. You can stock up fastest by using coupons, deal finders and comparison websites. When you have your stockpiles, you will find that you can skip a grocery shop once a month or more. Make use of your freezer and stock up on frozen meat and veggies when they go on offer. 

Pay Off Credit Cards

This might sound obvious, but a surprising amount of people skip it. Paying the minimum on your credit card will mean you need to pay much more back. The minimum payments typically only cover a small percentage of what you have actually spent. The rest will be on charges and interest. 

Paying down credit card debts is one of the smartest decisions you can make but will take a strict budget and some careful calculations. 

30-Day Wait

Often what we buy isn’t based on things we need. Instead, it is what we want. Often driven by impulse and emotion rather than necessity. Many people can spend thousands on things they don’t need at all. Rather than sewing up your jeans, or buying second hand, people buy new items and things they don’t need on a whim. 

Those thousands of dollars could be used as a down payment on an affordable condo as an investment, a family vacation, or to help you start a new business venture. 

The 30-day wait helps you to stop impulse buying, and consider how much you really need the item in question. Most people either forget about the item or realise it isn’t as important as they thought. 

Impulse Purchases

Although impulse purchases are mentioned above, there are more than just clothing, shoes and other extras. It can be when you are grocery shopping too. Many people don’t have a meal plan, which means they buy ‘randomly’ when they arrive at the supermarket and will pick up extras that they just don’t need. Statistics Canada reported that a family of four could save ,300 only by meal planning instead of impulse buying at the grocery store. 

In just three years that adds up to a massive $6,900!

Pay in Cash

In a world of contactless plastic, try where possible to pay in cash. The act of physically handing over money is more substantial and more ‘real’ than simply paying with plastic. You have to count your money out and hand it over. If you place the exact amount of dollars you have allocated into your wallet, and don’t use your card, you might be surprised just how much you can save. This is again true with credit cards. That purchase now might cost you triple and more. 

Use cash, and you’ll be more conscious of what you are spending. 

Loose Change

When you start spending in cash only, you will likely rack up a lot of coins, and pretty quickly. Take the most significant value of coin you have, and start collecting them in a locked jar. Once a year, tip them out and put them into your bank. You can also use them to cover Christmas gifts. 

Use Cashback Websites

There is a cashback website for almost anything you need. Here are some of the most popular cashback websites:

ShopAtHome – They have a vast 3,000 different stores. The wide choice means you can save on just about anything. You can make around 4% cashback on your purchases. You need a minimum of $20 in your cashback accounts to cash-out. Points also count towards your bonus.

BeFrugal – This is a web-based cashback site, but offers some excellent percentages of cashback. They have daily deals, and you can get paid by PayPal, gift cards and checks. 

Swagbucks – This cashback site is top-rated. You accumulate and save Swagbucks, and you can get them by playing games, shopping, doing surveys and searching the web. It comes in app form to make it even easier to earn. 

Most of us need to make some more significant purchases through the year, and cashback sites can make sure that you get some of that money back, which is essentially like saving money. 

Saving money through everyday activities can have a significant impact on your bank balance by the end of the year, and that money can be spent on protecting your future, and saving for the future of your children.

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