Day-to-Day Decisions That Will Make You Money

What do you do when you want to save more money? If you’re like most people, you hop on the Internet to get some ideas. It’s a great way to brainstorm, but there’s just one problem: these tips always involve cutting out your morning coffee to set aside extra cash.

While choosing to brew your own coffee could save you more than $1,000 a year, it isn’t the only way to adjust your budget. This is good news to any bean heads.

If coffee is one of the few pick-me-ups in your day, don’t skip it. Try these other tips to limit spending and boost saving.

Cut the Cord

Still watching shows the old-fashioned way? Cancel your TV package and you stand to save hundreds of dollars a month.

But don’t worry, you won’t have to give up on your favourite shows or movies. With subscriptions services like Netflix, Hulu, and HBO, you can catch up on Game of Thrones for a fraction of the cost of cable.

Switch up Your Commute

Do you start the average workday by jumping into your car and peeling out onto the roads, only to get stuck in traffic? Your long commute to and from work could be costing you.

If it’s possible, try walking or cycling to work. They’re free, and they’re a lot less stressful than driving through gridlock. If you live too far away to walk or bike, try carpooling with others. You’ll have a friend to talk to who splits the bill of parking and gas.

Stop Paying Banking Fees

How often do you get dinged for taking money out of the ATM? Or what about just keeping your money in a chequing account? The big banks have service fees and minimum monthly balances that eat into your bottom line.

Although bank fees may feel like an unavoidable charge, you can escape them by switching to a credit union. A credit union is a cooperative approach to banking that shares the profits with its customers. Rather than raising fees each year, a credit union maintains affordable daily banking services with higher interest rates on deposits.

To find out more about how a credit union can offer the same banking services at a lower fee, stop by a First Calgary Financial location to talk with a specialist.

Skip the Gym

Working on that beach bod? Your hopes and dreams for 6-pack abs could be draining your savings.

Although it may only cost you roughly $50 a month, this adds up to $600 a year. This is a lot of money considering most people with memberships don’t go to the gym at all.

By skipping the gym altogether, you stand to keep more money in your pocket — but without sacrificing your health. You can stay active without the gym. There are plenty of free apps and videos that walk you through cardio workouts, weight training tips, and specific exercises such as yoga and Pilates.

Find Savings Where it Makes Sense

If you enjoy your daily coffee too much to give it up, then don’t! Take a sip and savour that sweet, caffeinated beverage.

Saving is all about sacrificing some things to afford others. If you keep your daily coffee, find another daily expense you can easily live without. Start with cable, banking fees, or a gym membership, but don’t stop there. Look to your budget to find unique expenses you can cut out, so you can keep fun treats and save, too.

David Jackson

David is a personal finance expert, a professional male model, and an entertainment writer.