Save $10,000 per Year

Seriously. If you can cut back on discretionary spending, or save money on necessary spending to the tune of only $27.40 a day, you could park $10,000 of cool cash into your bank account (hopefully, a savings account) by this time next year. Do the math yourself; it's true.

Think it's impossible? Not so. There are so many ways to save that we just don't think about, it can make your legs weak. Here are just a few ways to knock back expenses so you can set aside some serious cash in only 12 short months. Challenge yourself. Challenge your family. And this time next year, you might be planning your family vacation of a lifetime-and paying for it in cash. Imagine that.

Stop smoking. This is a serious saver. And with as many free programs as there are out there for Canadians to take advantage of, today is your day to quit. And put about 10 days' worth of $27.40's into your bank account.

Cut back on dinner out. For just two of you, with just one drink each, an appetizer and two main dishes (don't even start on dessert) at a decent restaurant, you'll likely spend about $90. Cut that out, even once a month, and you've added 3 more days of $27.40's.

Borrow your books and your movies from the library. A library card costs nothing. Nada. So stop buying P.D. James at a whopping $19 per book, and renting 3 movies a week (at about another $10) and you've put more than $27.40 into your vacation account.

Start sharing the cost of driving to work. For some commuters, this can add up to huge bucks. Even cutting your driving costs in half is at least a 50% savings, every month.

Cut down on your coffee by two cups of java each week, your lunches out by about the same, and you'll save another $27.40 each week. (Starting to see how this works?)

Start re-cyling your clothes (that means selling them by consignment) and buying in "vintage" shops. Most Canadians spend at least $2000 every year on clothing. Cut that by just $500, and add 18 more days to that growing bank account.

Hold garage sales-and get your neighbors to hold them, too. You can rake it in by the hundreds-no kidding.

Stop dry cleaning. If it has to be dry cleaned, it's got to go. Weekly cleaning can easily cost $27.40 a pop-and it's not good for the environment. So quit the dry cleaning, save on your pocket book, and help the environment, too.

Turn the heat down, and when it's warm, keep the air conditioning up. A programmable thermometer can save you hundreds in electricity costs, by turning the heat down or up only a few degrees-ones you'll barely notice because you'll be so captivated by that fat bank account of savings.

Saving money is easy once you put your mind to it. Get the whole family in on it. Set a goal, any goal at all. Working together, you can find $10,000 in a year, and maybe a whole lot more.


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