Easy Tips On How To Save

Every month end we have the constant urge to purchase items and do grocery shopping because we’ve received our salaries. This has been my routine every time I receive my monthly allowance: I do a little bit of shopping and refill my pantry with fresh grocery supplies. I asked a friend who works as a calgary corporate accountant at mmtcpa.ca/services/corporate-business-tax, to share with me simple tips on how to save my hard-earned money so that I would be able to save more. It is quite frustrating that even if I’ve worked for years, my savings are not proportional to what is expected. Here are some tips she shared with me on how to save:


  1. Savings first before purchases.

There’s a common practice that is probably the main cause on why we are not able to save as much as we want and plan to: it is the practice of choosing to save only the amount what was left from your purchases. Set aside a goal amount that you can commit to setting aside every month and subtract that immediately upon receipt of your salary. By making savings your top priority, you are forced to only spend what is left of your monthly income.


  1. Make a grocery list.

Going to the grocery without a list will only make you spend more than what you’ve originally planned. Sure the list may be in your head, but putting it all in paper with their equivalent amount will make it more clear what items you really need and what should be removed from the list. This method will also force you to think on the meals you will be eating the next weeks, making you prioritize efficiently.

  1. Limit shopping items to one item per month.

Most of the time we spend hours in a shopping mall to reward ourselves for another month of a job well done. We treat ourselves with purchases such as clothing, perfume, and even gourmet food; before you decide on spending, ask yourself whether it really is necessary for such purchases. It is better to reward yourself with one item you really like than spend too much on stuff that will be of less use to your daily activities.


  1. Bring only what you need and some emergency money.

If you are the type of person that spends on an impulse, it is better if you leave your cash at home and only bring what you think is necessary. Of course, emergencies may happen and so it is best to keep spare cash in your wallet. By only bringing a minimum amount you are forced to spend only on what is needed and lessen the possibility of doing an impulse shopping.

There are more ways on how you can save money, as long as you keep being thrift and setting your priorities straight, saving will be easy. The most basic rule is that you do not spend on items that are mostly ‘wants’ rather than ‘needs’, remember that financial freedom is not determined by how big your income is, but it is achieved only by being able to budget perfectly and to live within your means.

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