Every day it seems we are bombarded with new warnings that we are not saving enough money for our retirement years. In fact, a sizeable percentage of Canadians are having to live cheque to cheque. So, what can you do to rectify the fact that too much of your cheque is just not going as far as it used to? Here are a few easily implemented ideas:
Be Careful What You Collect
Many people say they collect certain items because they view them as an investment. Well, unless you are collecting gold, there is no way to know for sure what will have some value in the years to come. You’re better off keeping that money in the bank.
Don’t Buy Immediately
How often have you experienced Buyer’s Regret purchasing something as soon as it hits the market, only for the price to go down a few weeks later. Or decided that you didn’t actually want the thing after all. Wait a few weeks, say 4-6, and then decide whether you really wish to own the item. In many cases, once that time has passed, you will find it easy to pass up.
Cut Back on Restaurant Meals
Yes, it fun and convenient to eat out, but you pay for both of those privileges. Make dining out something special by only doing it once a month or for very special occasions.
Make Clothing Last Longer
Trends come and go; just ignore them and wear what you want instead of buying new clothes every few months. Also, repair those old clothes instead of just tossing them out.
Sell Old Items
Many people just consign old, unused things to closets, basements, or attics. In fact, some of these may well be worth money. Hold a garage sale, or list them on an internet auction site, like ebay or Kijiji.