20 Unexpected Ways Canadians Can Save Money in 2024
Saving money isn't just about bolstering your bank account; it's also about making sustainable choices that benefit your finances and the environment. In Canada, many ways exist to cut down on expenses while minimizing waste and promoting eco-conscious living. Consider these 20 effective strategies to achieve financial savings and environmental responsibility in 2024:
1. Subscribe to Meal Services
Meal services like Hello Fresh reduce food waste and minimize the carbon footprint of excessive grocery shopping. Our food waste has reduced significantly in the last two months since we started using HelloFresh. The first month cost way less than our monthly grocery bill. Our recycling amount was reduced, although there was a lot of cardboard. Because it was fall, we reused the cardboard board in the garden, significantly reducing the waste there.
2. Avoid Seasonal Spending
By resisting the allure of "Holiday" merchandise, you contribute to a reduced demand for disposable and often environmentally harmful products. You don’t have to spend lots of money on trinkets and other wasteful ornaments. Maybe use what you already have for decorating, plan for experience instead of material objects to gift your family and friends.
3. Opt for Budget-Friendly Phone Plans
Switching to providers like LuckyMobile cuts costs and supports companies employing sustainable practices in the telecommunications industry. Lucky Mobile also has a program called Refer-A-Friend to Lucky Mobile, and can each get a $50 credit” . You can use my referral link to get $50 credit (https://referral.luckymobile.ca/claudiac-1411)
4. Cancel Subscriptions
Cancelling unused subscriptions will save you a lot of money. We cancelled Netflix this year, partly because they got greedy with their subscription fees and partly because I wanted to spend more time reading and writing on this blog. I am not talking just about streaming subscriptions but subscriptions in general. Chances are that you forgot about a few subscriptions that don’t make your life better or don’t help you achieve your goals.
5. Leverage Scene Points
In Canada, a Scene points card accumulates points when purchasing at specific stores, such as Sobeys. It happens that we generally shop at Sobeys, and we collect points that way. We like to use the points against travel expenses and occasionally for groceries.
6. Earn from Plant Clippings
I don’t know about you, but my plants grow like crazy. So, now and then, I cut them back and sell the baby plants. I sold over $200 in plant clippings this year. Having a healthy plant and making some money simultaneously sounds good to me.
7. Learn a New Skill
Look around and see what service you are currently using that you can learn to do yourself, and it saves you lots of money. For instance, I learned to groom my dogs so I do not spend $70 every five weeks. What skill can you learn to save you time or money?
Another example is we learned how to clean our gutters. It is not a fun activity, but it helps us save money and maintain our home.
8. Prioritize Repair over Replacement
Repairing devices before buying new ones decreases electronic waste and contributes to a circular economy, conserving resources and energy. In PEI, we have quite a few repair shops and contractors. Every year, there is also a Fix it event where people can fix things for free. Depending on what brand your appliances are, you can order parts. We are big fans of the RepairClinic, a website we use for parts for our Kenmore appliances.
There are so many YouTube videos that show how to fix something. We are about to fix our trackballs using a YouTube video we found. I find it exciting to take things apart and extend the life of our favourite objects.
9. Practice Energy Conservation
Unplugging electronics and adopting energy-efficient habits reduces energy consumption, utility bills, and carbon footprint. If you have big electronic devices or equipment, your electricity adds up.
Having thermostats for your rooms, heat pumps on auto and LED bulbs will help conserve energy.
10. Choose Second-Hand
Not only will you save tons of money, but this will positively impact the environment. Opting for second-hand purchases reduces the demand for new products, contributing to a more sustainable and circular economy. Check out my articles on the best spots to thrift in PEI and the 6 Apps to Help You Reduce Your Waste in Canada
11. Maintain Wish and Need Lists
By distinguishing between desires and necessities, you can limit unnecessary consumption, promote a sustainable lifestyle, and reduce waste.
It doesn't have to be fancy. Keep a family “Wants” and “Wishes” list on the fridge or somewhere everyone can add to it and see it. Having a clear picture of what you or your family need and what you want will give you perspective and will allow you to budget for it or rethink if you need it or not.
12. Engage in Community Swap Events
Community swap events foster a culture of sharing and reusing, minimizing the need for new purchases and decreasing overall waste generation. Generally, there are Facebook groups for these types of community swap events. In PEI, we have a group called “ Freecycle PEI” and a “Buy Nothing Canada: Charlottetown/Stratford, PEI”
13. Start Investing
Although it is not exactly a way to save money per se, it is a way to make your extra money work for you. If you make any extra cash after your emergency fund is set up, do not just keep it in your bank. You can invest in stocks or your retirement. I enjoy learning about investing and how I can make my money work with Wealthsimple.
Join Wealthsimple and get up to $3,000 when you sign up with my referral code: 9KHPBW
14. Embrace Reusables
By incorporating reusable items, you reduce waste and lessen the demand for single-use products, promoting a more sustainable way of life.
15. Borrow Tools and Equipment
Borrowing tools and equipment minimizes resource consumption and waste generation by promoting the shared use of products within the community.
16. Attend Free Community Events
Participating in free community events supports local initiatives and encourages a culture of community engagement, fostering a sense of environmental responsibility and sustainability.
By incorporating these sustainable and cost-effective strategies into your daily routine, you not only safeguard your financial well-being but also contribute to a more environmentally conscious and sustainable society.
17. Learn to Negotiate or at least ask
Sometimes it is good to just ask for a bigger salary, or a better deal. Negotiation is a skill that will save you lots of money.
18. Change your phone plan to Lucky Mobile
My husband and I pay 75 dollars a month for both our plans. I pay $40, and he pays $35. We used to pay $200+ two years ago. We are very happy with the Lucky Mobile plans and coverage. You can join SpryMobile here with my referral link: referral.luckymobile.ca/claudiac-1411.
19. Declutter
Every week, I go through my house and find things that bring no value to our current lifestyle or occupy space in my house and in my mind. I find that decluttering helps me feel more relaxed in my home and brings a lot of extra money. Facebook Marketplace and Poshmark are the two main websites where I sell things I am decluttering. Last year, I made over $1000 selling random things I no longer liked or needed.
20. Walk, bike or take the bus
Summers are short in PEI, but biking to the grocery store in the summer is dreamy in the area I live. Take any opportunity to save money on gas by biking, walking or taking the bus. Not only you will save money on gas, but you will also get healthy.
I hope these found these “unusual” tips are helpful. Let 2024 be the year of saving and going debt-free.
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