Sometimes it feels like it’s just impossible to get ahead. You work hard, but as soon as the money comes in, it seems like it goes out the door. Or, when you finally do save up some cash, all of a sudden a large expense will rear its head and catch you off guard.
Over the summer I’d like to try and save a little extra cash. This could be to have some extra project money handy for things around the house, emergencies that may come up or possibly to invest if markets decide to tank again. A 30-day savings plan (or conservation plan) may also be helpful if you’re out of work and give you a little extra time before the money runs out. Whatever the reason, nobody is going to be upset about having extra cash in the bank.
Below are a few ideas I’ve come up with to help declutter the house and at the same time help stockpile some cash for a rainy day. Obviously these ideas aren’t feasible for everyone, but I think the list gives a good starting point. Hopefully it provides some ideas to push you in the right direction towards additional savings or conserving your current cash balance.
Cash & Coins
Yes, this first one should seem completely obvious. It may sounds dumb to say check your house for money, but life gets busy and we forget about things. I’ve found cash hidden away in places that I forgot about, locations like nightstand drawers, the fireplace mantle, couches. In cleaning up your home you may discover some hidden treasures. The fact I’m misplacing money might make is sound like I shouldn’t be dishing out financial advice, but hey – it happens to the best of us, dig through your cushions!
And it may not even be “found” money, but sometimes just some cash you had lying around that you hadn’t used or maybe was a gift. Deposit it into your savings account or use it to purchase things you’d normally be putting on your cards and paying off, to lighten the load of those bills.
Coins are another area you might hit the jackpot if you’re lucky. I used to have a big coin jar. I’d empty the contents of my car and dump all the change into this big glass jar. I didn’t think much of it, but all those Loonies and Toonies plus the Quarters will add up. I’m pretty sure the last time I emptied it I deposited around $150 bucks in change. That’s like a whole utility bill (or two) that you don’t have to pay for the month.
Gift Cards
Check around your house to see if you’ve got any gift cards you aren’t using or have forgotten about. I found some grocery cards, a couple gas cards and even some Canadian Tire cards. Using up these cards can help lighten your monthly expenses. If you don’t like the idea of forgoing takeout or restaurants (which I’ll get to later), use up any dining cards you might have to minimize your bills.
Another option that I’ve used in the past is simply selling gift cards that I know I won’t use. I had a few old cards that were given to me for places like IKEA and Toys R Us, cards that had sat around for literally years and I knew I was never going to use. You can sell unwanted gift cards online at places like CardSwap and while you won’t get the entire value of the cards, you’ll at least get some cash. The value will typically depend on the popularity or re-sale potential of the cards. You’ll probably end up with arond 70% – 80% of the card value in cash, but it’s better than a gift card sitting in your house for another year.
Food Reserves
Go check the back of your freezer and your pantry! Better yet, clean them out. It’s amazing the food you forget about or just don’t get around to using or eating. I’ve attempted in the past to go through all of the freezer contents and pantry items that are getting near the end of their shelf life and making meal plans with those specific food items if possible.
You’ll realize a savings right away just by not having to throw away food that goes bad. You can probably also cut your grocery bill down substantially for a couple weeks. The last time I tried this, I think I still had to make my weekly grocery trip, but only ended up buying a few essentials. Many of the bigger ticket items were held off my list, resulting in about 1/3 the usual bill.
Grow your Own Food
If you have a bit of space in your backyard, why not try growing your own food? Fruits and vegetables are fairly pricey these days, so hopefully during the summer and fall this can save you a few dollars. There are lots of easy vegetables you can grow like green onions, lettuce and tomatoes.
In the past I’ve had fruits as well, like strawberries and even watermelons. I haven’t planted anything in awhile but I’d love to get another garden going sometime soon. You can even plant small pots with garnishes like fresh herbs to go with your meals. It’s a great option to have the freshest (and cheapest) vegetables right outside your door. And the best part is you can plant whatever you like! (Assuming your thumb is green enough.)
Garage or Online Sale
This is a big one that most people can do and will also help you get organized. Doing a big spring cleaning (or anytime cleaning) just makes your home that much more livable and nicer to be in. When going through your house, an easy way to declutter is to move things into sorted piles. Try itemizing things you will keep or put away, things you want to sell and items you will donate. Oh, and of course junk.
You can do this for your garage or shed as well, it will likely have some hidden gems in it. Once you have your “for sale” piles, sort through everything again to decide what price you can get for them possibly, or if it’s not worth the time and can be donated or junked. You may want to try selling more valuable items on a place like eBay or Kijiji. Save smaller items and knickknacks or really large items you can’t ship for a garage sale.
Most people have things they can get rid of like old clothes, old tools and old kitchen gadgets. Sorting your tools in the garage for anyone that does handy work will help you save time looking for that elusive screwdriver or socket wrench, but you may also find you have 3 or 4 of the same item. You can get rid of duplicates and make some money while tidying up in the process. I’ve got two lawnmowers and two weed whackers that I haven’t got around to getting rid of. Items like that, even if they only fetch you $50 is money in your pocket and junk out of your house.
Transportation Savings
Now that the warmer weather is here, why not get out the bikes or go for a walk. This can be to visit the neighbours a few streets over, for a shopping trip or even walking or biking to work. Try cutting out any non-essential travel or replacing it with methods that don’t require spending gas money. Over the course of the month you’ll save a fair amount of fuel and you’ll enjoy the beautiful weather.
If you do need to use your vehicles, try minimizing your trips and planning your outings. Do all your errands in one day, or do a large shop versus several trips to the store. Use up any old gas cards you might have lying around as well.
Home Maintenance
There are a lot of easy home maintenance jobs you can learn to do yourself and save some money in the process. Yes, some of these are better left to a pro, and I definitely wouldn’t encourage people to neglect maintenance to save money. Do what you can – there are a lot of jobs that only require time and elbow grease.
In the past I’ve completed jobs like fence repairs, driveway patches, painting – these are the sort of things that aren’t overly difficult but will save you from paying a fortune to a handyman or contractor. Every year in the late spring I open our swimming pool, which is a good way to save $300-$400 and doesn’t really take that much time or effort. I do the same in the fall with our sprinkler system, an easy way to save $50-$100 bucks. See what you can do around your home to cut those repair bills that are eating into your savings.
Axe Non-Essential Food
Yeah, I know it’s hard for some… but just try it, it’s not the end of the world. Create a goal and go day by day… try skipping the take out meals and restaurants for a month. A fancy dinner for two can set you back an entire week’s worth of groceries. Think of all the cash you’ll pocket skipping those weekly dinners x 4! Plus, you don’t have to tip the cashier at the grocery store 15%-20% of your bill.
If you want to take it a step farther and torture your family even more, cut out non-essential and indulgent grocery purchases like snack foods. I’m sure we all have at least one or two of those items that sneak onto our lists. Whether it be chips, cookies, ice cream or chocolates. If the item has tax on it, you can probably do without it for a month. Depending on how much of a snacker you are, this could save you a good deal of money over a 30-day period.
Lastly, avoid food trucks, street vendors and convenience stores – if that even needs to be said. Anyone interested in saving money shouldn’t be buying snacks at convenience stores or $6 dollar ice cream bars from a rolling music box. Try these ideas and make it a challenge. Challenge yourself. It’s only a month and afterwards you might find you don’t even miss some of the foods you’ve deprived yourself of.
At Home Entertainment
Try putting any expensive outings on hold for the month. See what sort of fun things you can do for free with your family. Take a walk down by the water, to a park or a local trail. Watch movies at home or play a board game. Work on some fun building projects with your kids or be a tourist in your own town… the possibilities are endless.
The main idea is to find things you can do for fun with your family that doesn’t cost you anything (or barely anything). And do your best to avoid pricey outings like the theme park, movie theatres, the zoo etc.. There are usually lots of free substitutes that will suffice.
Are you up for the Challenge?
I’ll likely give this a go a bit later in the summer and am interested if any readers have partaken in similar money saving challenges? I’m sure there are some who live this lifestyle everyday, to various degrees. The key seems to be how much can you save and still have a good time, while being comfortable and not completely depriving yourself from the good things in life.
So true that it’s easy to forget about gift cards and spare cash. I found a whole heap of coins in my car the other day. Good tip.
Thanks for your comment. Gift cards or ‘found money’ you’ve forgotten about are always welcome surprises!