Back to school is not just for kids! Now is the perfect time to get your finances and credit in check. We have compiled a list of our top five tips to save money and get your habits back on track this fall:
Buy in bulk and plan your meals!
Step one? Write that grocery list, but write it out for the whole month. Step two? Head to a bulk food store for things like dry goods, toiletries and things that can be frozen. Use your weekly shops for fresh items and stretch your budget. You will be amazed at how much you can save when buying in bulk.
Pay off debts
You may think that saving is the most important thing, but you’ll also need to pay down debt if you have any. Consider paying debt down while simultaneously saving for maximum results and consolidate debt into one place; a line of credit often has far less credit than a credit card – and finally, pay debts from highest to lowest to avoid higher interest rates.
Set-up automatic savings
Consider your financial goals in 2021 and automatically save for them! By setting up auto transfers each week or month, or each time you get paid, you won’t risk accidentally spending the money you should be saving.
Consider needs vs wants.
When making larger purchases, a 24-hour rule is key. Sleep on it. Consider, is it need or a want? Will this item add value to your life? If the answer is yes, we salute you!
Looking forward to some home renovation projects? Hop on Pinterest and check out the world of DIY! Many home renovations can be done for a lot less than you think!
We are part of Canada’s largest and fastest-growing mortgage brokerage. We work for you, not the lenders. Looking for a new home? Contact us at (403) 589-2777.