Cost-saving tips for the new year

(NC) Last year’s inflation and high interest rates forced many Canadians to look for ways to cut back on their spending so they could pay their bills. Even if things do settle down this year, it’s always a good idea to find ways to cut back. Here are four ways to stay on top of your expenses this year.

Build a budget
The only way to truly know your financial situation is to create a detailed budget. There are a number of free budgeting tools available online. Tally up all your income in one column and all of your expenses in another. If the expenses exceed your earnings, try to identify areas you could cut back on.

The more details you include, such as having separate line items for groceries, takeout meals, convenience store purchases and sit-down restaurant receipts, the easier it will be to spot areas where you can cut back.

Look for grocery deals
Groceries are essential, but they’re also becoming increasingly expensive. So, when you go shopping, watch for sales and stock up on staples you regularly use. Also, keep your eyes open for discounts on surplus items or products approaching their best-before date.

Canadian apps like FoodHero makeit easierto find discounted proteins, bakery items, fresh and frozen produce, and more from grocers in your area. You’ll not only save money, but also help reduce the estimated 50 million tonnes of food that goes to waste in Canada every year.

Sell your unwanted items
As you’re working on having a fresh start this year, go through your wardrobe, bookshelf and other household items to look for things you no longer want or need, but someone else might value. There are many online platforms where you can sell these items and gather together some spending money.

Seek out free or low-cost activities
Your local library is not only a great resource for free access to books, music and movies, many also offer free passes to local attractions. Museums often host a day or night where they offer free (or steeply discounted) admission.

If you’re a sports fan and there’s a college, university or junior team in your area, tickets are generally much cheaper than they are for professional games, and you might have future bragging rights about having seen the next big star play before they were famous.

Find ways to save at foodhero.com.

Attention editors: Here is an alternate spring-themed headline and third point
Trim your budget this spring with these cost-saving
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Sell your unwanted items
As you’re working on your spring cleaning, go through your wardrobe, bookshelf and other household items to look for things you no longer want or need, but someone else might value. There are many online platforms where you can sell these items and gather some spending money.  
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