Purchases today that will save you money in the long run
When money is tight and you are doing everything you can to stick to your budget, you need to be resourceful.
“Smart shopping isn’t just about clipping coupons and scanning sales. It’s also about considering how your purchases today may save money going forward. There are instances in which investing a little money now can save you a great deal down the road,” says Jeff Schwartz, Executive Director, Consolidated Credit Counseling Services of Canada.
“In order to benefit from these savings strategies, you need to plan ahead and stick to your plan over time, or else you’re wasting money today and tomorrow too,” says Schwartz.
Here are some smart purchases that can help you to save money in the long run.
A slow cooker
Meals prepared in a slow cooker are delicious, nutritious and convenient, but that small appliance can help you save big bucks off of your grocery bills. A slow cooker uses far less energy to cook than your oven or stovetop does. Additionally, the cuts of meat that benefit from the long and low method of cooking in liquid in a slow cooker are generally far less expensive.
Eco-friendly plumbing fixtures
You may pick your plumbing fixtures on how they look, but you should also think about how they work- specifically how much water they use. Consider investing in eco-friendly plumbing fixtures, like dual-flush toilets, low-flow showerheads and motion-activated faucets. You’ll reduce your water use significantly while still getting the job done. Less water use means lower water bills.
Whether it’s a lunchbox, plastic storage containers or a re-usable water bottle, having the option to re-use is going to save you money. Carrying a refillable water bottle means that you won’t need to buy water on the go. Carrying a lunch box helps you to save money eating out at work. Having plenty of plastic storage containers on hand means that you can reduce food waste by properly storing your food and your leftovers.
As a rule of thumb, whenever you can DIY you’ll save money. If you can handle small household repairs on your own, you’ll save money automatically. However, you can’t perform repairs if you don’t have a basic toolkit. You don’t need to go all out, but make sure that you’ve got a hammer, wrench, pliers, flashlight, a few different kinds of screwdrivers, a utility knife and a tape measure.
Energy efficient appliances
ENERGY STAR® certified appliances are energy efficient, which means that your bills will come down. Look for this seal on all major appliances. It’s also a good investment to get a high-efficiency furnace.
A chest freezer
If you are low on storage space in your fridge freezer, buying a chest freezer (even a small one) can help you save money in the long run. That’s because you can buy in bulk which is cheaper. You then portion items and freeze them. This includes meat, fish, poultry and produce. Make sure that you label items with the date so you reduce food waste.
One of the biggest cost centres in your home is probably transportation. Having a bike means gives you free transportation and exercise at the same time.
Setting a budget and sticking to it can help you avoid accumulating more debt. Call us at or check out our free online debt analysis .