10 money saving tips that can save you over $1000 a month

Want to know 10 money saving tips that can save you up to a thousand dollars every month?

Your daily work rituals (morning coffee & bagel, 2 o'clock snack) could be costing you hundreds every month. Here are a few simple work related and general cash saving tips you can do every day to keep more of your hard-earned money where it belongs - in your pocket.

By Following these 10 simple, almost pain-free steps you can easily save more than $1000 a month. Personally, when I started doing this - just the first 6 tips alone saved me over $700 a month.

When I quit smoking back in 2000 a pack of cigarettes cost about $7.50. So by quitting I immediately saved an additional $225 a month. There was also the added bonus of looking and feeling healthier.

Enough about me...on with the list!

1 Pay yourself first - If your goal is to save money then this is by far the most important of my 10 money saving tips. Pay yourself first, literally. Designate a certain amount to come out of your pay check and have it automatically deposited into a high interest savings account. This ensure the money you intended to put in the bank doesn't get used for something else. Potential savings = $50 -$500 / month.

2 Quit smoking - Arguably the most important of our 10 money saving tips (If you're a smoker). Qutting may seem unrealistic but aside from the obvious health benefits the financial reward can be pretty substantial. Besides, I quit cold turkey almost a decade ago - believe me, if I can do it anyone can do it. I smoked a pack a day which used to cost me around $300 / month in cigarettes. Potential savings = $120 -$300 / month.

3 Pack a lunch - The next 4 of our top 10 money saving tips add-up to alot of money in a month - but cutting them out can add-up to big savings. This was another big hurdle for me personally because I ate out everyday at work. Two advantages of packing your own lunches are 1) they tend to be healthier and 2) it'll save you a ton of money every month. For someone like me who used to buy lunches 5 days a week, that works out to about $200 / month extra in my pocket. Potential savings = $120 -$200 / month.

4 Don't drive to work - This is another daily work ritual that you probably don't think much about but it's definitely costing you alot of money. This may not be possible if your car is an integral part of your work like a real estate agent for example. Cutting out the car has 3 possible advantages, 1) it's better for the environment 2) walking or biking to work will make you fitter and 3) you'll save alot of money on gas. Potential savings = $30 -$100 / month.

5 Avoid vending machines - This one takes a bit of self control but what I do is I trick my mind into believing they do not exist. Also if you bring enough snacks from home you won't be as tempted when walking by them. If you can pull it off it's an easy $30 - $60 / month saving.

6 Don't buy coffee - Being Canadian, I have a hard time going out without my Tim Horton's coffee in the morning. If you're not too keen on other coffee brands consider buying instant coffee cannisters from your favorite coffee shop and brew it at home - this alone will add up to significant savings each month. Potential savings = $20 - $80 / month.

7 Use a shopping list -This is one of the most important of my top 10 money saving tips. You probably already know to never, ever go grocery shopping on an empty stomach but it's an even bigger budget buster when you not shopping from a list. Potential savings = $50 -$200 / month.

8 Cancel unused club/gym membership - That New Year's resolution that just collecting dust could still be costing you money. The gym or club doesn't care that you don't use your membership - they just care about the payments going through every month. A home gym is a real money saver, not just in membership fees but also in gas and other expenses. Potential savings = $10 -$75 / month.

9 Bring kids to daycare 1 day less/week - If you can find a way to keep your children out of daycare just once a week you can save yourself hundreds. Plus if you're keeping them - you're spending more quality time with them. Potentially a huge saving if you can swing it. Potential savings = $80 -$240 / month.

10 Lose the cell phone - You may think that you can't live without your cell phone but if you're like most people - losing it would not be the end of the world. This probably the easiest expense you can cut out of your life and it would immediately pay dividends in monthly savings. Potential savings = $40 -$65 / month.

Want to see more than just the 10 money saving tips listed here? You might also be interested in money saving tips for teens.

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