We have all experienced everyday items becoming more expensive. I wanted to share a few ideas on how to combat it and help keep inflation from impacting your family.
Review Reoccurring Payments
Review your credit card statements, chequing accounts and monthly TV plans, if you aren’t using them, cancel it
- TV add-on subscriptions
- Scale down your TV package
- Monthly reoccurring smartphone apps
- New customers are often offered the best deals when it comes to cell phone plans, TV & home internet plans – changing providers might be worth exploring depending on what the cancelation fee is with your current provider
Delay Big Purchases or Wait For a Sale
- Flipp is a free app and great tool to determine if everyday items (big or small) are on sale
- Can your purchase be second-hand? Facebook Marketplace or Kijiji can have some great items listed which are practically brand new but a fraction of the price
Home Heating
- Review your thermostat setting and hot water temperature settings – a simple tweak helps to use less energy and saves you money
- Look into rebates – for example, Enbridge Gas offers a $75.00 rebate when purchasing a smart thermostat
Create (and Use!) a Budget
- Review your financial statements to see where your money is going
- Scale back coffee runs and ordering in/ dining out
- Plan “spend nothing” days – where you don’t make any purchases with your credit card, debt card or cash
- Maximize your groceries by planning your weekly menu around bonus points at your local grocery store – i.e. Optimum, Air Miles, etc. these can really start to add up and equal a few free shops annually
Address High Interest Debt
- High interest debt, such as car loans, credit card bills, retailer financing, lines of credit (personal & HELOC) and so on can really take a hit on your cash flow. A great way to better manage these items is to refinance your mortgage and combine these bills/expenses into one payment, ultimately saving you thousands in interest.
Interested in learning more, give me a call to review your options today.