First, you need to make a budget. A budget shows you how much money comes in, and how much goes out. You also see where your money is spent. Some budget types allot a certain percentage of your income to various categories of expenses, including for savings and nonessential expenses.

Make Sacrifices

You want more money in your pocket so you need to make sacrifices. Where’s the logic in that? Very simple: sacrifice less important things to use your money where it really matters. The 2018 Canada’s Food Price Report shows that the average Canadian household spends about thirty percent of their income on restaurants. Try cutting on those. Continue eating out with friends once in a while, but cut the coffee shop in the morning and the fast food joint when coming back from work. You will save much money just by doing that.

Cut on Utilities

Use a VoIP system for your home phone instead of going through a phone company. It costs between $35 to $70 dollars per year. For that price, you have voicemail, caller ID and unlimited long-distance calls to Canada and the US.

Do you need cable TV? One out of four English-speaking Canadians have cut their cable service and are using Netflix. Cable services start at about $30 monthly for a very basic plan, including channels you never watch, while Netflix is available for $11 per month, and have over 3000 titles at your disposition.

Learn How to Save

There are plenty of small things you can do to save money in the long run. Carpooling to work saves on gas money. Putting the thermostat down when you leave for work or at night lowers your electricity bill. Insulating your water heater also helps. These are little things that can have a big impact at the end of the day.

Get a Loan

If you have no money left because you have too many debts, consider a debt consolidation loan. These loans have low interest rates and allow you to pay off other debts, which leaves you with only one payment to manage, and less interest to pay.

If you’re short on money because something broke (like your car), and you need to fix it immediately, check out online loans. These types of loans are especially great if you have bad credit, as they do not make credit verifications. The interest rates are high, but the payments are spread over three or four months, depending on the amount you borrow.

Make a Change Jar

Put an empty jar on the table where you put your keys and wallet. Every time you come in the door, empty your pockets of any loose change and put it in the jar. You won’t believe the rate at which your jar fills up.

Stick to It

These changes might be hard at first until they become a habit. But when you see how much money is left after you pay the bills, you will see it is well worth the while to make these small adjustments. Now you can invest your money where it matters most to you.