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    • Seven ways to help you save on everyday expenses

    In his column for CTVNews.ca, personal finance contributor Christopher Liew shares some of the best ways to save on everyday expenses, to help you keep up with life and get back on top of your financial health (Getty Images / Nuttawan Jayawan) In his column for CTVNews.ca, personal finance contributor Christopher Liew shares some of the best ways to save on everyday expenses, to help you keep up with life and get back on top of your financial health (Getty Images / Nuttawan Jayawan)
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    Is the ever-rising cost of living keeping you down? Do you feel like you鈥檙e spending way more than you should, leaving your account balance lower than you鈥檇 like?

    The costs of rent, groceries, dining out, and even weekend fun all seem to be increasing faster than many of us can keep up. Unfortunately, prices are unlikely to dip anytime soon.

    In my opinion, the best way to combat this is to find creative ways to save money. Below, I鈥檒l share some of the best ways to save on everyday expenses, so you can keep up with life and get back on top of your financial health.

    Money-saving tips you can implement today

    Seventy-seven per cent of Canadians reported that they鈥檙e unable to save as much as they鈥檇 like, according to the results from an RBC poll in late 2023. If you talk to the average worker, they鈥檒l probably share that their living expenses have risen disproportionately to their wages.

    You can try asking your boss for a raise, but your request may or may not be granted. One thing that you do have control over, though, is how much you spend on everyday expenses.

    1. Take public transportation more often

    If you live in a larger metropolitan city, you should be taking full advantage of public transportation. Statistically, Canada has some of the in the world.

    Buses and trains are an excellent way to save money that you鈥檇 otherwise be spending on fuel, and they鈥檒l generally get you to where you鈥檙e going in a similar amount of time.

    Another great advantage of taking public transport is that you don鈥檛 have to drive. If your normal daily commute is 30 minutes, this means you鈥檒l have an extra 30 minutes of your life back that you can spend reading a book, learning something new, catching up on emails, or even building an online income stream.

    2. Use couponing apps at grocery stores

    Gone are the days of hunching over your table cutting coupons out of newspapers and magazines with a pair of scissors. Today, there are a number of easy-to-use coupon apps like Flipp and Reebee that allow you to browse through coupons in your region.

    Some coupons are store-specific while others are offered by manufacturers and can be used at any store. To apply your coupon, you just need to scan your app at the checkout counter.

    Your savings will be tallied up in the apps, and you can cash your balance out in the form of a check or gift card at the end of the month.

    3. Buy groceries in bulk

    Shopping at Bulk Barn, Costco, and other grocery wholesalers can be a great way to save money on everyday necessities and food. While you may not want to purchase perishable goods in bulk (other than meat, which you can freeze), you can save hundreds on your monthly grocery bill by purchasing your favorite non-perishable goods or household supplies in bulk.

    Sure, you鈥檒l pay a little bit more upfront. However, your food and supplies will last you a lot longer, keeping your overall household expenses down.

    4. Dine out less, meal prep more

    Dining out is one of the biggest wealth killers out there. If you purchase a moderately healthy, somewhat filling meal from a fast-food restaurant, you鈥檙e probably going to spend between $15 and $20 after all expenses are paid. If you do this every day, you鈥檒l spend $100 or more every week, not including any extra money spent on breakfast, dinner, or snacks.

    Try meal prepping large amounts of food on your day off, and packing your breakfast and lunch to go. This can save you hundreds of dollars per month.

    If you鈥檙e not an experienced cook, YouTube is your friend. No matter what type of food you like, you鈥檒l be able to find thousands of easy-to-follow, inexpensive recipes that will blow your average fast-food meal out of the water.

    5. Cut back on your vices

    Going out to the bar on your night off can cost you. Every drink you purchase is going to be marked up by at least double what you鈥檇 pay at the store. The same goes for that $7 cup of coffee you buy every morning instead of making a cup of coffee at home.

    I鈥檓 not saying that you shouldn鈥檛 treat yourself every once in a while. However, try to be mindful of habitual spending patterns, as these can be the hardest to break and cost you thousands over the course of a year.

    6. Make your home more energy efficient

    The more efficient your home is, the more you鈥檒l save on your monthly power bill. Some tips include:

    • Switch your light bulbs to LEDs instead of incandescent bulbs
    • Apply insulating film to your home during the winter to keep the heat in
    • Turn your lights and power cables off when you leave the house
    • Install a smart home thermostat to make your heating/cooling more efficient

    7. Use a cash back debit or credit card

    One of the best ways to save on everyday spending is to take advantage of a cash back debit or credit card. These cards allow you to earn a percentage of every dollar you spend back. Some categories may offer a higher cash back percentage than others.

    This cashback can then be applied towards future purchases.

    If you鈥檙e using a debit card, there鈥檚 no risk, as you鈥檒l only be spending money that you鈥檝e already deposited into your account. However, if you鈥檙e using a credit card, make sure that you鈥檙e not over-spending and do your best to pay your balance off completely every month.

    What鈥檚 the best way to start saving more money?

    In my opinion, the easiest ways to start saving more money are to use couponing apps when you do your grocery shopping and cut back on dining out. These two small changes can save you hundreds of dollars each month, putting more money back in your pocket that you can put toward growing your savings or paying off your bills.

    Read more to see how this is helping to save money and the planet.

    Christopher Liew is a CFA Charterholder and former financial advisor. He writes personal finance tips for thousands of daily Canadian readers at .

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