Save $40 on your grocery bill, plus more money-saving tips
3. Bypass the booze and save up to $60
When you dine out, avoid ordering martinis and wine. “Restaurants have a huge mark-up on drinks,” says Tehranchian. “If you can get away with water with dinner — you can have wine and beer at home beforehand — you can save quite a bit.”
If you eat out once a week and share a moderately-priced bottle of wine (about $40), you could save at least $60 a month by having non-alcohol drinks instead.
4. Slim down your grocery bill and save at least $40
The average family spends at least $100 dollars on groceries a week, says Tehranchian. Revise your grocery list so your bills are 10 to 15 per cent less and you could save at least $40 dollars a month.
Here's how to save on your grocery bill:
-use coupons
-buy no-name brands (they're usually 20 to 30 per cent less than name brand products)
-buy less prepared food — fresh is cheaper and healthier.
5. Go landline-free and save at least $40
If you and your family are outfitted with cell phones, consider unplugging the home phone. Disconnecting your landline could save you at least $40 a month. Meanwhile, keep your mobile bills low by shopping around for the most affordable packages. “And only get the additional features you need rather than going with all the frills that you may never use,” Tehranchian says.
6. Cool off at home and save about $17
Reduce your energy consumption at home and you'll save. For example, Tehranchian suggests switching from standard to compact fluorescent light blubs, which use about 75 per cent less energy. As well, turn down the heat when you're not home. “If you lower the thermostat by 10 per cent, you can save 10 per cent off your gas bill,” she says. “If you're paying $2,000 a year, that's about a $200 savings (or $17 a month).”
Sticking to a savings plan isn't always easy. To stay on track, keep your sights focused on your goals. Before you know it, you'll be travelling the world or enjoying a shopping spree at Dior.
Click to download our handy budget tracker and find out just where your money goes each month.
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