Saving money starts by re-thinking the way you live your life. Here are some tips and tricks to save money in ALL areas of your life:


Buying A Car: Cars are a HUGE waste of money. They lose value the second you buy one, but sometimes you just NEED to have one. When buying a car, some things to consider that will save you money are: new vs. used (a car that is a couple of years old is always cheaper than a new one – let someone else take the price hit), fuel efficiency, maintenance costs (higher end cars are more expensive to maintain), and dealer incentives (free gas or maintenance). Always compare prices between dealerships, negotiate the price. Don’t fall for the silly add-ons like rust proofing and fabric protection (either unneeded or you can do it yourself at a fraction of the cost). Avoid the expensive upgrades (especially if you are leasing) as paying for the upgraded stereo will only benefit the next owner when your lease ends. There is too much to cover about this topic so stay tuned for a future post on this topic.

How To Save Money

(Image via

Gas: Here are some tips on how to save money on gas.

Insurance: Shop around! Compare quotes with many insurance providers and try using a broker. Always do research on companies before choosing one because you don’t want to be screwed if anything major ever happens with your car.

Maintenance: Dealers are a rip off! Unless your car came with a maintenance package, always get your regular service done elsewhere. Many people think this will affect their warranty, but in many cases it will not. Don’t be afraid to shop around as prices can be as much as 75% less than the dealer!

Getting Around: The cheapest ways to get around are walking, riding a bike, rollerblading or skate boarding. Public transport is usually the next cheapest, and if you need a car then consider a car sharing program like Car2Go. Taxis are the biggest rip off and should be considered a luxury item. Only take a taxi if you are unable to drive and are concerned about your safety getting somewhere.


Bank Fees: When selecting a bank account, consider how you use your bank. Bank fees range drastically on accounts and can be waived in certain situations (ie. if you hold a minimum balance). Consider switching to a no fee bank if you don’t need to visit the branch often. If you think you are paying way too much in fees, you probably are! If you do, talk to your bank to negotiate a better deal and if they don’t budge be ready to walk away.

ATMs: Avoid using any ATM that doesn’t belong to your bank. If your bank says you will not pay fees on their ATM network withdrawals, this typically ONLY covers the fees your own bank would charge on the transaction. Meanwhile, the other bank is still charging you to use THEIR machine. Casinos, nightclubs, bars and strip clubs are often the worst place for ATMs as these can often carry service charges as high as $10 per transaction!

Credit Cards: Shop around for a credit card that works for you. Here’s a list of the best credit cards for Canadians. Never carry a balance on your card unless it is for an emergency. The interest rates on credit cards are ridiculous, and by paying it off every month you will also improve your credit rating .

Make Your Money Work For You: If you have some money saved up, don’t let it sit in a checking account. Always put the money in something that gives you a return. Even if it is just a savings account that gets you 2%, it is better than getting nothing. If you save enough money up, banks will often give FREE financial advisor services who can help you diversify your savings in several investments. When invested properly you should expect returns between 5-15%.


Home Phone: If you have a cellphone there often isn’t much need for a home phone. If you don’t need a home phone, get rid of it! If you do, shop around and see what the best options are. (article coming soon)

Cell Phone: Here are some tips to save money on your cell phone plan.

Long Distance: Technology has helped drastically reduce the cost of long distance. Some alternatives to making a long distance call on your regular line are: calling cards, Skype, whatsapp and Fongo (a really cool app for your phone that allows you to make FREE long distance calls in Canada from your cell phone).


Buying A Home: Doing your research is the best way to save money when it comes to buying a home. Compare historical prices for similar properties in the area and always negotiate! Consider buying a fixer-upper or a place in an upcoming area to get the best return on your investment. (article coming soon)

Rent: The simple answer is DON’T RENT. Why pay someone else’s mortgage when you can pay your own?

Mortgage: Shop around for the best rate. A 1% difference in the amount of interest you pay can make a world of difference. Try to pay off your mortgage as quickly as possible, within reason. If you have amazing credit and want to pay off your property as quickly as possible, consider a HELOC (Home equity line of credit).

Maintenance: Homes need much more maintenance than a condo but don’t have the regular monthly fees. Shop around when getting work done on your home and try to get a word of mouth referral for someone who does good work at a great price.

Electricity: Use all major appliances during off-peak times. Check with your power provider to see when these times are, as peak times are usually double or triple the off-peak rate.


Grocery Shopping: Prices vary drastically from supermarket to supermarket. Shop around and compare prices from the different grocery stores in your area. The “no frills” grocery stores are usually the best place to go as you will see a huge reduction in your grocery bill. Also, weekend farmers markets are a great place to find a good deal on quality produce.

Eating Out: Restaurants are EXPENSIVE, even the “cheap ones”. Eating out should be considered a luxury, not a daily occurrence. Stop being lazy, make your meals at home and enjoy all the extra money you will have in your pockets.

Rethink Your Drink: If you are drinking a cocktail with a high-end liquor in it, ask yourself: “Can I really taste a difference?”. Don’t be fooled by marketing because the only major difference between a vodka cranberry with Absolut or Grey Goose in it is the price. Another thing to consider is how fast you drink certain drinks. Beer and red wine will always go down a bit slower than a delicious cocktail.

Daily Specials: When going out, always ask your server if there are any drink or food specials. If you really can’t find anything in the specials menu that you like then order off the regular menu.


Movies: Only go on the cheap night. Why pay double when you can go for half price?

Bars And Nightclubs: Before going out anywhere, if you like to drink, consider pre-drinking. This means you will spend less money while out wherever you go. When you to go out, find a bar that you like that has drinks at a reasonable price.

Events: Most events do a giveaway these days on social media. Search Twitter for the event you really want to go to and enter any contests you see to get you there. If it is an event you really want to go to, always look for a discount code or buy tickets last-minute from someone who can no longer make it on Kijiji or Craigslist.

Travel: Travel doesn’t have to be something that is expensive. Here are some cheap travel tips for Canadians.


Buy On Sale: Only buy clothes when they are on sale. Stacked discounts work the best as you can find incredible deals. For example, a few weeks ago I purchased $569.45 worth of clothing for about $89 at Urban Outfitters during their 50% off discounted items sale.

Buy From Discounted Retailers: Winners is one of the best places to get some great fashionable clothing finds for a low price.

Buy From The USA: Clothes are WAY cheaper in the USA. If you are planning a trip down south then buy your clothes while away to save a bundle. Tax-free states like Pennsylvania are great places to go on a shopping trip and save a bundle of money!


Looking to save money in another area of your life, or have a question? Just leave a comment below and I will get back to you as soon as I can!