It’s easy to spend your money and then have no idea where it went. A coffee here, some lunch there and before you know it you’re counting down the days until you get paid with no clue where all the money you earned went. I’ve lived in Toronto, one of the most expensive cities in the world and managed to save over $20,000 in one year to fund our Round the World trip. I’ve also lived abroad in Sydney, Australia for 6 months and we managed to save 30,000 in 6 months. I’ve done it by making a conscious decision to stop wasting money on stupid things.
If you stop wasting money on these 13 things, you’ll easily be able to save an extra $300/month.
This is a habit that’s really hard to break. All those delicious food options, you don’t have to spend any time cooking, you order, pay and bip bap boop – hot, yummy, food is sitting in front of you.
We all know that all that fast food adds up – not only financially but physically! When you stop buying fast food you can save upwards of $200/month!
To stop wasting your hard earned money on food – plan ahead, meal prep and take your lunch instead! It will taste better, be healthier and save you hundreds if not thousands of dollars every year.
Bottled water is something that I’m against because if you’re living in a country where you can drink from the tap it’s just UNNECESSARY.
Buy a reusable water bottle and refill it instead. Not only will you save money, but you will also help save the environment as well.
Buying drinks at restaurants
Drinking has become something that most people don’t even think about, it’s just second nature. But alcoholic beverages at restaurants are expensive and ridiculously marked up. Be honest, you usually have more than one and drinks alone can sometimes cost more than your meal!
Skip the drinks and have water instead. It’s healthier and FREE.
One dollar scratch card here, $5 Lottomax ticket there…it all adds up. Stop wasting your money on the dream of winning the lottery and work on achieving your dreams. Winning the lottery is very, very unlikely and many lottery winners end up broke within a few years anyway!
Brand Name Products
Brand name products have a mark up because they have worked hard to build that brand. They’ve made us believe that they’re the best product and are worth the extra money. However, the generic version of almost every brand name product works just as well and you’ll save over 30% on your grocery bills.
Switch today and save!
Unused gym memberships
January 2nd. The busiest time at the gym. I know that you meant it when you said this year would be different and you would actually go to the gym…but here we are six months later and you’ve only gone twice.
Stop signing up for expensive gym memberships before actually being committed to going. There are many gyms that offer a week free or even a month trial. Do a trial and see if it sticks. If you don’t go when it’s free, you won’t go when you’re paying for it. Cancel the unused membership and sign up when you’re ready to make it a real priority and get your money’s worth from that membership!
Tip: There are tons of free workouts on YouTube that you can try as well! Working out at home is the best way to save money instead of going to the gym. All you need is a light and heavy set of weights and a mat. I love it and have lost 30lbs doing at home workouts.
When I had cable there were 2 channels I would watch – The cooking channel and HGTV – I just love those house flipping shows! It was a waste of money and we would barely be home to watch it anyways. With so many online streaming options you don’t need cable AT ALL. Many shows that are on cable, put their shows on YouTube after its aired on TV so you still get to see some of your favorite shows!
Additionally, with services like Netflix for less than $12/month, you can save a lot of money by switching.
We saved over $80 a month by cancelling our cable and should have done it sooner!
having a home phone line
If you have a cell phone, you don’t need a home phone. When’s the last time you went anywhere without your cell? If someone is trying to get a hold of you, they will reach you on your cell and having a home phone line is just a waste of money. I know some companies like to trick people into getting packaged deals with internet, home phone, and cable. This bundle is outdated and you’re not saving anything with this plan. Cancel the cable and the home phone package and if possible try and get a better deal for internet and a cell phone plan.
Expensive phone plans
The first time I realized that I was overpaying for my phone bill was when I called about something they billed me incorrectly for. They were so apologetic that they decreased by bill by 10%! I was ecstatic. Then I was so tired of this phone company that I called and said I wanted to cancel it. They sent me to the retention centre phone line and the person there gave me an even better package and a much lower price. I took the deal.
I realized that companies will bend over backward to keep you as their customer – the longer you’ve been with them, the better. It costs them A LOT of money when they lose a customer, so they will try to accommodate you as best they can.
Try it, call your phone company and ask for a better deal – 9/10 times you’ll end up getting a better deal!
These Apps may seem harmless because they are such small purchases – but you’ll see the recurring trend here – every dollar adds up. You don’t need to be spending time playing games on your phone anyways, you have to meal prep 😛 There are many thousands of free apps available just use those instead.
I love me a good book store. The smell, the sights, the beautiful PLANNERS and notebooks! Love it.
Stop wasting money on books and go to the library instead. The library is the besttttt. It has almost any book you ever want and it’s all for free! Some libraries even have e-books that you can borrow. You’ll be able to get the knowledge you wanted without spending anything to get it.
An additional benefit is you won’t have so much clutter in your home from all the books you read – or never even started.
I know it seemed like a good idea to get it at the time because it was so expensive and the thought of, “what if something happened to it?” would haunt you. But realistically how many times have you ever used an extended warranty?
Buying stuff on sale/clearance that you don’t actually need
Retail therapy was my addiction. And when I saw a clearance sign my heart would start racing excitedly. I never realized how much money I wasted buying things just because they were on clearance. I thought I would use them and NEVER did. When packing our home up to go on our Round The World trip, I found hundreds of dollars worth of picture frames, baking cookware, books, and clothes with the tags still on.
Change this habit now. Only buy things you actually need – even if it’s on clearance. Never buy something you think you’ll need just because it’s cheap.
Since implementing these things in my life I’ve saved thousands of dollars. We were able to pay for our wedding debt-free, saved over $30000 in 8 months to go on our RTW trip and even managed to save 30000 while working abroad in Sydney, Australia within 6 months.
I hope this post helps you save some money this month! If you use any of these tips, let me know in the comments below 🙂
FTC Disclosure: I may receive a commission for purchases made through links in this post. I only recommend products/services that I personally use and/or believe will add value to readers :) Love ya! Read my full disclosure.