Toronto has been pegged as the most expensive city in Canada to live in. Residents of that area consider the costs a necessary evil for living in such a wonderful and progressive city. If you happen to live in this city you will want to consider these money saving tips to get more for your dollar and get a handle on your Toronto finances.
Managing your money takes a lot more than knowing the math. You must know yourself and your attitude towards money. It will require some self discipline and taking a new approach to saving for the future.
Avoid Temptations To Spend
Going to the malls to window shop, to get away or to take a stroll is never a good idea if you’re trying to save. There will always be a temptation to purchase things that you don’t need. Instead of strolling through the mall go to the park or around your neighborhood where there will be less of a temptation to spend.
Another temptation comes in the form of catalogs that are delivered via mail. Browsing through the catalogs will create the urge to spend so unsubscribe from them all or just throw them out for recycling when they do come.
Is your favorite bottle of wine on sale? Purchase it even though you do not need it right this moment. If you buy goods when they’re on sale it means that you won’t ever have to pay regular price for them. Make sure that you purchase only things that you use so that you’re not spending money and hoarding things that you don’t need.
Automation saves time and saves the hassle of trying to remember all the bills that you need to pay. The downside to automation is that you are usually billed the same rate that you paid a year or quarter before (based on your payment scheme). For your credit cards, insurance, mobile phone, internet bills and other bills it is always best to compare rates and negotiate lower rates before you renew.
Advising someone to shop cannot be considered a money saving tip but in this case it is. If there is something that you need to purchase it pays to search eBay first since you might get it much cheaper there than the store. You will save even more if you purchase items in ‘like new or ‘refurbished’ condition. If you don’t like the item received or no longer need it you can always relist on eBay to recoup your money.
Cut the Long Distance Service
Use webcams or Skype to keep in touch with distant family and friends and cut the long distance phone service. Skype offers affordable pay as you go options so that you are not stuck with a monthly bill. The best part is that you can use video and see your friends and family while you talk. This is always more fun than just talking over a phone.
What are some of your best money saving tips?