Ever wonder how much money you really spend on things that don't seem to be of much consequence? That daily cup of coffee, that bottle of water, that beer you pick up on the way home. They don't cost much in the short run but in the long haul, they can draw big bucks from your wallet. Cutting back on that $1.40 cup of java can put $365 back in your pocket. Taking your lunch to work and avoiding restaurant fare - with its expensive menus and tips for the wait staff - can add another $2,300 or so annually.
And don't even mention the never ending increase for cigarettes, which always causes both your money and your health to go up in smoke.
The simple act of paying off your credit card bills on time can put a small fortune back in your wallet. "An average debt of let's say about $6,600, and if you had a rate of about 13 per cent ... would take you over 20 years to pay that off," calculates investment advisor Paul Thornton. "And the interest portion of that would be about $5,000."
To see the top 10 sugggestions, watch Consumer Specialist Jee-Yun Lee's story by clicking on the video links. And while you're viewing that, consider these other money saving suggestions that could put a little bit more in your pocket at year's end.
Lottery Tickets
Sure, it's your way to easy street, but your odds of actually arriving there are pretty slim. Buy just one Lotto 6/49 ticket every week and you spend $104 in a year. Even the odds, by buying less often and keeping that change in your jeans. Then you'll really be a winner.
Newspapers
Yes, they're great for reading on the subway. But they're also available for free online - just like CityNews.ca. Each copy ranges from 50 cents to $2 depending on when you buy them. Get one every day (including weekends) and it's around $280 a year. Take one of the freebies to read on the bus and look online for the rest.
Magazines
Don't buy them at newsstands. If you want to read one every month, get an annual subscription. Most offer reduced rates for those who buy through the mail - and you get the added bonus of having them delivered straight to your home.
Parking/Speeding Tickets
O.K. we all get them. But do we all pay them on time? That little $30 fine that starts out small can blow up into a monster bill if you let the days go by. Try not to speed, but if you do, pay for your sins with the same haste before the deadline.
TTC/Walk
You can't speed if you're not driving. Consider taking transit if it's practical. Yes, fares are going up in November. But it's still cheaper than a car with all its attendant expenses, like parking, insurance, license fees, gas and more. Better yet, if you're close enough to your job or shopping, try a brisk walk. It's good for your health and your wallet - and it's free.
Cell Phones
Whoever said talk is cheap didn't have an expensive mobile plan. Try making calls after peak hours where possible and shop around for better packages that can save you a few bucks but still meet your needs. Beware of long term commitments - they're harder to get out of. One new service that will eventually be coming to Canada is the Skypephone, which allows free calling between computers anywhere in the world for free. And you don't have to be near a PC or a wireless connection to make it work.
http://www.citynews.ca/news/news_16241.aspx
And don't even mention the never ending increase for cigarettes, which always causes both your money and your health to go up in smoke.
The simple act of paying off your credit card bills on time can put a small fortune back in your wallet. "An average debt of let's say about $6,600, and if you had a rate of about 13 per cent ... would take you over 20 years to pay that off," calculates investment advisor Paul Thornton. "And the interest portion of that would be about $5,000."
To see the top 10 sugggestions, watch Consumer Specialist Jee-Yun Lee's story by clicking on the video links. And while you're viewing that, consider these other money saving suggestions that could put a little bit more in your pocket at year's end.
Lottery Tickets
Sure, it's your way to easy street, but your odds of actually arriving there are pretty slim. Buy just one Lotto 6/49 ticket every week and you spend $104 in a year. Even the odds, by buying less often and keeping that change in your jeans. Then you'll really be a winner.
Newspapers
Yes, they're great for reading on the subway. But they're also available for free online - just like CityNews.ca. Each copy ranges from 50 cents to $2 depending on when you buy them. Get one every day (including weekends) and it's around $280 a year. Take one of the freebies to read on the bus and look online for the rest.
Magazines
Don't buy them at newsstands. If you want to read one every month, get an annual subscription. Most offer reduced rates for those who buy through the mail - and you get the added bonus of having them delivered straight to your home.
Parking/Speeding Tickets
O.K. we all get them. But do we all pay them on time? That little $30 fine that starts out small can blow up into a monster bill if you let the days go by. Try not to speed, but if you do, pay for your sins with the same haste before the deadline.
TTC/Walk
You can't speed if you're not driving. Consider taking transit if it's practical. Yes, fares are going up in November. But it's still cheaper than a car with all its attendant expenses, like parking, insurance, license fees, gas and more. Better yet, if you're close enough to your job or shopping, try a brisk walk. It's good for your health and your wallet - and it's free.
Cell Phones
Whoever said talk is cheap didn't have an expensive mobile plan. Try making calls after peak hours where possible and shop around for better packages that can save you a few bucks but still meet your needs. Beware of long term commitments - they're harder to get out of. One new service that will eventually be coming to Canada is the Skypephone, which allows free calling between computers anywhere in the world for free. And you don't have to be near a PC or a wireless connection to make it work.
http://www.citynews.ca/news/news_16241.aspx