I’m talking about little things you do or buy everyday that cost you small amounts of money - these amounts start out as small, but they can add up. For instance, if I’m not careful with my student chequing account, I an easily run up $20.00 of fees a month.
Here are a few tips to keep you free of those little drains:
1. ATM Fees - Use your home bank’s ATM’s whenever possible, avoid that $1.50
$1.50 x 3 Withdrawls Per Week = $4.50
$4.50 x 4 Weeks = $18.00
That is almost $20.00 of your money gone in ATM fees per month. Now, this is only a theoretical situation, but it holds some merit providing you withdraw several times a month at least.
2. Student Discounts - Most places offer a student discount, so don’t feel guilty, take advantage of it. If it saves you a few dollars, it is already worth it. One of the biggest places to look for this is when travelling. Transit authorities often offer a large discount to students.
3. Pack a Lunch - Anytime you can, pack a lunch at home and bring it with you to school, work, whatever. You have already bought that food or your parents have - so why not save the $10.00 you were going to spend at Wendy’s or Tim Hortons and eat what you have brought. Assuming lunch costs you $10.00 a day, you are going to be $50.00 in the whole by Friday. Shame on you because that is $50 towards beer or a car.
4. Save your Change - As dumb or childish as it seems to have one of those big jars or bins in your room, it can help. If you save your change and then roll and bank it monthly, who knows what you will end up with. I emptied my large “Toronto Maple Leafs Beer Bottle Bank” last month and came away with $120.00 - Most of it was pennies, nickles and dimes too. Never throw money away, it all adds up.
5. Be Frugal - Do you really need more than 1 magazine for the subway or train? Do you need to visit Starbucks 3 times a day? Probably not, so try eliminating the purchase of small unneccessary items from your daily routine. Snacks and good reading material are okay in moderation, but don’t go overboard. You will notice a change when you come home with less than 3 packs of gum.
Hopefully, by remembering these everyday things, you will come away with a few extra bucks every month. Remember Vending machines are the enemy, they attack the waist and the wallet.
