The economy being in the toilet does not always have to be a bad thing. Conveniently my mortgage is due to renewal in the next 2 months. I spoke to a rep at the bank I would like to transfer my mortgage over to and they advised they can lock me in for a rate of 4.15% for 5 years. When I setup my mortgage through another bank three years prior I received a rate of 5.25%, which was really good at that time as well. Another advantage to the poor economy which I noticed recently is that my line of credit's interest rate has decreased by almost 5%, so I am saving even more. Be wary of credit card interest rates though, i have noticed many companies have actually increased their rates. If you have a line of credit I recommend using it to pay your credit card to keep your balance with the lowest interest rate.
The grocery store can be a stressful place. What do I get? Is this really a deal? It doesn't have to be difficult though, with a few tips you can learn how to manage your money to the fullest and not empty your wallet. Here are a few tips:
1. Never never never go grocery shopping on an empty stomach! This has been a personal problem for myself as well. If you are hungry you are more likely to purchase whatever you may be craving, which will cost you a lot more! At the end you will be full but then realizing how much money you just spent.
2. Make a grocery list. If you know exactly what you need you will be less likely to purchase additional items while browsing. If you have a list you will be focused on the items you need and not slowly pushing your cart down the aisle looking at everything on the shelf.
3. Try to shop as fast as you can, once again you will be less likely to browse.
4. Check flyers for sales BUT only get them if it is something you purchase on a regular basis. Sales are a marketing method to convince people to buy things they normally would not, so if it is a regularly purchased item such as toilet paper you are getting a deal.
5. Purchase goods in bulk BUT once again only essential items. Toilet paper, soap, and other goods that won't go bad and store easily. Coffee is an item this house cannot do without, one day there was a sale on tins of coffee, normally they are $7.99/tin for maxwell house. The store was selling them on sale for $4.50/tin. I purchased 10 tins and saved approximately $34.99. This is also a product I would not use more then normal since I have it in bulk as we use the same amount every single day.
6. Use coupons, they can save you a lot of money in the long run. Once again only use them on regularly purchased goods.
7. Purchase items that can make affordable meals. Spaghetti is a great item as it will make a lot and feed the whole family for very little.
These are just a few tips on how to save yourself money when grocery shopping. Stay tuned for more tips.
I started over my coin saving after initially creating this blog (yes I have slacked on updating it, that will change). I collected my giant pickle jar and my blue piggy bank (yes its a pig) and started sorting and counting. I ran out of the paper things for pennies and nickels, and didn't have enough to roll all of my toonies ($2 coins) or my loonies ($1 coins).
The grand total came to $253.00 (not including the left over pennies and nickels. I will take that amount to the bank this week and put it against my balance owing on my credit card. This was from a 5 month period of time, it may not seem like much at all, but I am currently living paycheque to paycheque while my wife is in school.