Idea # 1 – Have two bank accounts

It is well known that the more money you have, the more you spend.  So, to avoid thinking you are too rich, make it a habit to transfer a certain amount called “don’t touch”, into another account.  It can be used for all your projects: travel, renovations, etc.

Idea # 2 – Review the pertinence of some expenses

We often spend money for certain things because that’s the way it is and we don’t question them. We may have never really taken the time to investigate some fees and charges that may seem low but, in the long run, may still add up.

An example? If you listen to the television one hour a week, the option of cancelling the cable and signing up for a service like Netflix is ​​probably worth considering.

The same goes for your landline, which may only ring once a month when your mother calls or when a firm contacts you to answer a survey.

Idea # 3 – Wait a few days before making some purchases

The juice extractor that you desperately wanted to buy last Sunday may not have been so important a few days later.

Impulse shopping often pushes you to believe you really must have this certain item.  But if you give it time, you’ll wind up confirming if the need is real or just a passing fancy.

Idea # 4 – Opt for good old cash

If you have a spending budget of $ 100 and want to avoid exceeding it, there is nothing better than taking the cash out and saying: “That’s all I have to spend this week.“

Idea # 5 – Evaluate expenditures in hours worked

If you are not rolling in money but cannot resist going out to the restaurant, for example, evaluate what it will cost you in hours worked is probably the best way to change your mind.

To know that your meal is costing you three hours of work may ruin your appetite.

Idea # 6 – Change your consumption habits

Here are a few small things that can be done and that make a big difference in the end.

• Cash cans or returnable bottles instead of throwing them in the recycling container.
• Buy staples in bulk (toilet paper, laundry soap, fabric softener, etc.).
• Go through your cupboards, fridge and freezer regularly so that no food is ever lost and choose the grocery store that saves you the most.
• Prepare your coffee at home before leaving for work instead of buying one on the way.
• Take a tour of the local thrift stores to renew your wardrobe or buy at the end of the season when prices are at their lowest.
• Register at the public library where you will have free books, DVDs and CDs.

Idea # 7 – Opt for carpooling

Not only is it good for the planet, but it will also save you gas and reduce the wear and tear of your car.

Idea # 8 – Evaluate the cost of addictions

People do not realize how much of their budget is often allocated to anything that falls into the addictions category: cigarettes, alcohol, gambling, shopping, food, and so on.

Take the time to sit down to see how much it costs you to smoke and drink.

For example, a person who smokes a pack of cigarettes a day may spend as much as $ 7,000 a year. Imagine what you could do with this money!

Jackie Beaudoin, Leclerc Insurance and Financial Services