Tuesday, November 4, 2014

Use Your Common Cents Day

                           Gail Vaz-Oxlade’s Common “Cents” Tip Sheet       

·         Do a spending analysis –
Knowing where your money is going is half the battle. Go through your past six months of spending, including groceries, household expenses, utilities, rent/mortgage, clothing and entertainment, and analyze just how much money went where. You want to understand the areas in which you’re overspending.

·         “Common Cents” comparisons –
In addition to doing a spending analysis, it’s time to shop smart and look for products that will stretch your dollar. So many people default to value brands thinking they equal savings. Not always! If you need to use more of a budget-product or rewash items to get the same results you’re not saving a thing. Look to trusted products such as Tide Simply Clean and Fresh, Charmin Basic and Ultra Dawn that offer value and efficacy.

·         Plan your purchases and stick to your budget
To avoid impulse purchases, plan head, make a list, and use cash! Avoid overspending by taking cash from the ATM twice a month and planning how you’ll use that money. When it’s gone, you’re done shopping.

·         Common “Cents” Couponing  
Common sense couponing can equal cash! Websites such as savingmadesimple.ca offer deals and coupons to save on products you already use and love. Flyers can also be a useful tool for finding great deals from the stores you regularly shop at and for price-matching.

·         Save your savings – 
Too often people don’t actually save their savings; they simply find another way to spend it. Working towards a big goal like a vacation or a special purchase? Every time you save a cent by shopping smart, send those savings to your high interest savings account where you can watch them grow.

·         Don’t be a money moron – 
In the end, it’s important to be conscious of what you’re doing with your money. Be conscious of how you’re using your money so you’re always working towards reaching your goals. 

For those who LOVE their coupons- they can be downloaded @ at www.savingmadesimple.ca
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