If your costs seem to be growing but your wallet isn’t, check out these tips and tricks from Royal Bank of Canada to hack your budget and help keep more money in your pocket.
Audit your bills: While it may sound tedious, it’s important to scrutinize your expenses. Take the time to review phone bills, subscriptions and receipts to spot areas where you could be saving.
Reward yourself: Leverage rewards cards and programs for your everyday purchases and expenses, and take advantage of retailers offering extra points when you shop.
Consolidate debts: When paying off your credit card isn’t an option, look for opportunities to consolidate your debt to a lower-interest option, like a line of credit.
Reduce impulse buys: Add a delay-switch to your online shopping. After adding items to your cart, let them stay there for 24 hours before completing the checkout. This will give you time to review the purchase and reduce impulse buys.
Make sure sales really are sales: Even if something is labelled as a sale, make sure you do your research and shop around for the best price.
Talk about it: There is value in talking about your finances with others. Even if you don’t have a banker on speed dial, you likely have financially savvy people in your network. Pick their brains.
Find more money-saving tips at rbc.com/mymoneymatters.