It may seem like you canâ€™t afford to save, but there are daily opportunities to be frugal. From skipping that morning coffee or resisting the urge to buy that pack of gum, this itinerary highlights how you can start saving a few dollars each day and eventually be on your way to financial stability.
8 a.m.: That Overpriced Coffee
Skip the line at the coffee shop and brew at home. A French press, AeroPress or simple pour-Âover setup makes for delicious coffee and with little hassle. Sure, you might not think the few bucks you spend at your favourite coffee shop affects your bank account, but if you consider the cost of a coffee every day over the course of a week, a month, and then a year, youâ€™ll begin to see the money add up.
10 a.m.: Checkout Counters Impulse Purchases
The checkout counter trap is real and all those marked up packs of gum can really add up in cost. Buy your gum in bulk packs instead and if youâ€™re going to the store to buy one thing, make a conscious effort to buy just that item. Your wallet will thank you.
12 p.m.: That Fast Food Lunch
It takes some advance planning, but youâ€™re better off bringing a lunch to work instead of purchasing at the cafeteria. Not only will you be saving yourself from extra calories, youâ€™ll save some major cash too. Dedicate Sundays to making large batches of food and pre-pack snacks to save time in the week.
6 p.m.: Happy Hour Drinks
No one is telling you to stop going out, but think about applying the â€śwork smart, not hardâ€ť dictum to your after-work shenanigans. A cursory look at available happy hour-type deals illustrates this point best. HalfÂ-price food and drinks is a perfect way for you to have a little fun after a long day without spending too much.
10 p.m.: DIY Beauty Regimen
Looking like a million bucks doesnâ€™t have to cost a million bucks. Sure, there are some things you donâ€™t want to skimp on, but a lot of your beauty products can be made with ingredients you already have in your kitchen. From lip exfoliators made of brown sugar, honey and olive oil to shampoo made out of coconut milk, the internet is full of DIY recipes that are effective and affordable.
Finding opportunities to save in your day is the first step to living a more financially stable life, but developing a savings plan that works for you is the next one. Book an appointment with a Scotiabank financial advisor and ask about the Scotiabank Momentum Savings Account.