How I Saved $440 a Month: 10 Easy, Money-Saving Tips

Given the current state of the economy, I don’t know anyone that’s not attempting to tighten their purse strings – myself included. Here, I’ve devised a few tried and true money saving ideas that have worked for me over the past month. I think you’ll find that they’re easy (and even fun) to do, and by pursuing just a few of these ideas, you'll save you some serious cash.

#1 - Bundle your entertainment

Since many companies are now offering bundling deals due to the economy, it’s a great time to shop around for a new entertainment package. By bundling my internet, phone, and cable package, I’ve managed to save around $80 per month. The good news is that I really didn’t have to cut back on channels or change my internet speed.

#2 - Eat locally

Local vegetables and fruits are in season right now, and lots of farmers are spreading the joy. Find the closest farmers’ market to you, look for seasonable foods, and start seeing your money go a lot further.

#3 - Make a simple budget

Creating a simple budget for yourself is really a good idea. Include the costs of your monthly bills, your average grocery bill, entertainment costs, and any other expenses that you can think of. By devising a monthly budget I was able to save around $30 per month, because I’m more aware of where my money is going and can spot easy places to save.

#4 - Visit a financial advisor

When was the last time that you spoke with your bank’s financial advisor? If you have yet to do this, make an appointment. After speaking with my financial advisor, I was able to find ways to save money, invest money, and learn how to make my money work for me.

#5 - Automate your savings

Do you have a problem saving money? If so, set up a savings account that you can’t touch for 5-10 years. Money can be deducted from your bank account every month (you determine the amount), and deposited directly into savings.

#6 - Know the cost of things

Do you know how much everyday items cost? Far too many people simply make weekly purchases without really thinking about the cost of items. Learn what a good price for your favorite deodorant or dish detergent is, and you’ll save money by not buying products that are priced too high.

#7 - Learn to cook

As an occasional food writer, I love food. But, the price of dining out was really dipping into my pockets. After observing my food spending habits, I realized that I was spending anywhere from $70 - $150 dollars per week on food. While I’m not going to abandon my love for new restaurants, cutting back on my food budget has saved me around $300 per month. Track your food spending habits (yes, those lattes do count!), and you’ll begin to see how much money you can save.

#8 - Create lists

By taking the time to write grocery lists (everything from food to cleaning products), I estimate that I’ve saved around $30 per week by avoiding buying impulse items that I don’t really need.

#9 - Be conscious of your surroundings

Learn to turn off lights, fans, televisions, stereos – anything that uses electricity. By simply remaining conscious of the things around you, you’ll be able to save a bundle in electricity on a monthly basis.

#10 - Don't be tempted by credit

It’s far too easy to whip out your credit card when you really want something – I know that I’m guilty of it! Instead, get into the habit of only paying cash for items. This way, you’ll only buy those things that you can truly afford.

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This guest post was written by Harriette Halepis. Harriett is a professional writer specializing in personal finance. If you are interested in contributing to SpendOnLife.ca, visit our Write For Us page for more information.