“Whether it’s glow-in-the-dark soccer games, excursions to trampoline or waterslide parks, or hired entertainment, kids’ birthday parties are more extravagant than ever.”
Your hard-earned money is better in your pocket than the taxman’s
One percent may not seem like a lot, but can make a huge difference in the money you can earn from your investments.
As Ted Rechtshaffen explains in an article for the Financial Post, “On the same 5% investment gain, you can keep an extra 1% if the gains are in a mixture of capital growth and Canadian dividends than if they come from interest income. Of interest, the extra 1% happens almost regardless of your income and the province you live in.”
See: 1% in your pocket is better than 1% in the taxman's pocket.
Managing your expenses is a great saving strategy
One of the best ways to save money is to be on top of what’s going out and coming in. In an article at Frugal Rules, Grayson Bell describes the six-step process he uses at the start of each month in order to understand “where I am and where I am going.”
He starts by scanning his budget, then schedules his bill payments, audits his accounts for charges and errors, checks his credit report, and transfers extra money to his personal or savings accounts.
Buy for quality, not for price
While it can be tempting to always look for the lowest price items when you’re trying to save money, in some cases that’s not the best option.
"Buying quality items is one of my top ways to save money," says Kristen Cross of The Frugal Girl. "Paying more upfront for an item that lasts longer makes financial sense."
In a slideshow at MSN Money Canada, personal finance experts weigh in on which 13 items are worth the extra money, including shoes, bed sheets, and kitchen tools.
See: 13 ways being cheap will cost you more in the long run