Ways to Save in Alberta Without Feeling Broke

Posted by: Sandy Lyons on 12/14/2011

Most people know that saving money is a must. A savings account with three to six months worth of expenses can help you get through difficult financial problems in Canada without accumulating debt or missing payments. In fact, many Alberta bankruptcy cases could be avoided if people had enough savings.

Oftentimes, however, saving money is associated with cutting back on “fun” things. Many people think of saving money as going without, but that doesn’t have to be the case.

These are a few easy ways you can save money without feeling broke:

Swap out cable for the library

Cable subscriptions can run over $100 a month, more if you have special HD and DVR upgrades. Cancel your cable or satellite subscription and opt for less expensive ways to get a TV or movie fix. Many networks’ websites allow you to watch current episodes online. You can also rent movies from the public library for little or no cost. Redbox, which charges a dollar a night for new releases, is a popular alternative.

Pack your lunch

Running out to grab lunch on your lunch break can eat away at your monthly budget. Additionally, school lunches for kids can really add up each month too. Wake up an extra 10 minutes early and pack lunch for you and your kids.  Not only will it save you money, but it’s healthier too.

Get rid of your landline

If you still have a landline phone, cancel it. Before cell phone carriers began offering unlimited minutes, a landline was a necessity. Now, however, more and more people are realizing it’s a waste of money and switching to using their cell phones exclusively.

Start shopping around

You may be paying more than you need to on necessary expenses like insurance without even knowing it. Comparison shop for auto and home insurance and look for discounts like multiple car or good student discounts, which can save you 10% or more each month. You can do the same with credit cards. See if you can find a card with a lower interest rate that will transfer your balance for free.

Buy generic products

Paying for name brand products at the grocery store can really add up. However, in most cases you won’t even be able to tell the difference between generic and name brand. One shopper did a study and spent $150 on name brand groceries, then bought the exact same items, swapping name brand with generics. The resulting savings were over $60.   Coupons are another great way to save.

Don’t rely on your vehicle

Instead of driving to work every day, look for alternative transportation in Alberta to help you save money. If it’s not too far, consider biking; it’s great exercise, better for the planet, and better for your wallet. Carpooling and public transportation are also great ways to cut down on your gas bill each month.

With a little creativity, it’s possible to save money without feeling like you’re going without.