I’m always looking for little ways to save money. I think of it as being thrifty. Sometimes my family uses less complimentary words.
My point is that managing a balanced budget is not always about the obvious big expenses like houses, cars and vacations. Sometimes the day-to-day things, the things that seem inconsequential, can actually have a major impact.
Buying your lunch, even the most economical choices (food courts, burger places, sub shops, etc.), is approaching $10 a day. Places like that are all about convenience. What if I told you that you could make a great sandwich at home for about $1? I’ve measured out the ingredients and done the math.
Let’s do some more math together. If you are spending, say $9 a day on lunch, you could save $8 each day. If you are working a regular 5 day week and buy your lunch every day, that’s $40 each week. Over the course of a year, that’s going to be about $2,000. What could you do with $2,000?
Don’t like sandwiches? Here are some recipe ideas I read online the other day. The key, like so many aspects of life, is planning.
Maybe you’re thinking that you won’t really see that $40, that it will get spent some other way. Here’s another idea. Set up a savings account at your bank and schedule a weekly transfer of $40 from your main account. Now you’re setting up an emergency fund for unexpected car repairs, dental expenses, etc.
I meet with people every day in our Kitchener bankruptcy office to discuss their financial problems. Sometimes it’s a question of finding ways to reduce expenses and balance the budget. Sometimes it’s more serious than that and we talk about consumer proposals and personal bankruptcy.
If you are struggling under a mountain of debt, you can all me a call at 310-PLAN to schedule a free consultation. We will take the time to understand your problems and review all of your options. You can also send me your questions by e-mail.
Hoyes, Michalos & Associates Inc. has offices throughout southern Ontario and the GTA.
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