It goes without saying that spending your hard-earned cash is way easier than saving it. But thanks to new advances in technology, socking away money automatically—before you even notice it’s gone—has never been easier.
This article on Global News does a great job of breaking down why saving is so difficult for so many people (spoiler alert: it has a lot to do with our inherent need for instant gratification). It also lists some great Canadian apps to help you automate your savings behaviour.
KOHO, for instance, automatically rounds up your purchases to the nearest $1, $5, or $10 increment, and socks that money away for you. NOMI Find and Save, on the other hand—which is an app for RBC clients—sweeps your accounts up to three times a week, looking for opportunities to save money.
Personally, when my monthly expenses get too high, I often call up my telecommunications provider to see where I can shave off a few extra bucks. I’ve saved up to $100 a month or more simply going through my cell phone, Internet and cable packages and taking advantage of new promotions, or simply downsizing my existing packages. One day, perhaps, I’ll be able to cut the cord all together–but I’m not there quite yet.
What about you? What are your saving strategies?