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This month has been a rough one our our budget. Between our daycare costs skyrocketing due to summer break, both of our cars needing work done, and trying to save for vacation, I’ve been trying to utilize every extra dollar I can find.
I have a few tricks I turn to every time we have a budget-blown month and it’s the perfect time to share!
Here are my 5 easy ways to save $100 this month.
1. Cancel or adjust your cable / phone / internet package
When things get really tight around here, my first phone call is to our cable, phone, and internet company. This month, I called and bumped down our cable to the cheapest package which immediately saved us $50. When we have more money, I have the option to call and bump it back up.
For those who don’t have cable (which is almost everyone these days), making small adjustments to your phone and internet packages is tough but possible. It’s a sacrifice, but most internet providers have an option to transition to a slower speed to save money. If you really need it, that $20-30/month is worth not being able to scroll Instagram as quickly.
As for cell phones, some providers have the option to remove add-ons. I can remove my long distance plan, get rid of voicemail and caller ID, and even ask for less data to save every month.
You will never know about hidden savings until you call and ask. Call your providers and simply ask “I need to save some money on my bill over the next few months. What can we do to make that happen?”
2. Redeem your loyalty points
The opportunities vary based on where you live, but here in Canada I have a few options for utilizing my loyalty points when things get rough. This month is a perfect example as I cashed out on every single savings app I have to try and make our budget balance.
The biggest savings comes from redeeming my PC Optimum points (a grocery store loyalty program here in Canada). With over $300 in points sitting in my account, I decided to use $150 in each July and August and therefor reduce my grocery budget by a total of $300 over two months.
Beyond that, I cashed out on Checkout 51, Caddle, Drop, and Shoppers Army this month. I believe all of these programs, except Caddle, have a US counterpart. Check your apps and pull money from wherever you can!
3. Sell something
I know, I know, I know. This one is a massive pain. If you’re like me, you look around your home and see no big ticket items to sell. Yes, big items that will make you $100 immediately are great, but most of us have an abundance of small things we could sell to add up to that.
Kids clothes and toys, old electronics, multiples of tools, etc. It will be tedious and most likely annoying to sell (Hi, people who constantly bail on Facebook marketplace) but like anything, you’ll have to work to get your money.
Just remember that every dollar is worth as much as the next.
4. Agree to a no spend month
This is something that my husband and I try and do at least once a year. Other than normally budgeted items, we don’t buy new things. Period.
Our rules for a no spend month are as follows – if we decide we need something (this month it’s a new fan for our home), we have to wait for the month to roll over in order to purchase it. In most cases we do still end up purchasing the item in the next month, but sometimes this month allows us to take time and think about the purchase. Is there another option? Can we find it somewhere cheaper? Do we even need this item? It sounds silly, but waiting changes things.
Our “Dining Out” budget is where we see the biggest savings during a no spend month.
5. Participate in a pantry challenge
Pantry challenges are my favourite for two reasons – they save you money and also help to declutter your cupboards.
The basis of a pantry challenge is to take a time period (a month or even just a week) and agree not to buy any new food other than fresh milk and produce. This means you will solely use what you have in your fridge, freezer, and cupboards to prepare food.
By the end of a month long pantry challenge our fridge and cupboards are empty and we struggle to meal plan. It’s incredibly challenging but so resourceful. I find that it forces me to find creative ways to use items that have been sitting too long.
During a pantry challenge, you’ll see a massive savings in your grocery budget. For our family, this one is the my #1 of all the easy ways to save $100 this month.
Those are my 5 easy ways to save $100 this month, but I would love to hear what your go-to’s are. Share them in the comments!