30 Day Savings Challenge: 30 easy tips to save money every day

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When it comes to saving, the rule is simple: nothing will change until you change your financial habits! So how do you move from good intentions to a real action plan? By taking up the “30 Day Savings Challenge”, which is both realistic and beneficial!

"In life, three things are essential: physical, mental and financial health," explains Mino Adjin, financial security advisor at Sun Life.

His approach aims to humanize personal finances. Over the years, he has seen the positive results of healthy savings habits. Let's go!

30-day challenge to strengthen your financial discipline

Day 1: write down your expenses every day

Note your expenses by hand or in an application for 30 days to have a portrait global, then evaluate if any are superfluous.

Day 2: prioritize the repayment of your debts

Do you have debts (credit cards, student loan, car, etc.)? Identify those with the highest interest rates and prioritize their repayment.

“To avoid over-indebtedness, the card and line of credit should only be used for really large purchases,” advises Mino Adjin.

Day 3: download and learn how to use an application to manage your budget

By observing your expenses and your cash inflows in a disciplined way, you will have a clear (and unfiltered!) picture of your financial reality.

“The budget is really the basis for better controlling your expenses. Without a budget, we advance at random. It's never a good idea, ”says the financial security advisor.

Day 4: Learn to say 'no'

Ask yourself, 'Do you absolutely have to buy that sweater?' And this umpteenth “gugusse”? Ask yourself the question: “Could I do without it? ". Very often, to ask the question is to answer it. Really enjoy yourself! Transfer the amount equivalent to its cost into your account which is dedicated to savings.

Day 5: Activate automated payments

Don't have a savings account? Open one and turn on automated payouts. Try it with $50 per week, or $7 per day. After one year, you will have saved an additional $2,600! “Systematic savings is a winning strategy,” confirms Mino Adjin.

And if you put that amount into a mutual fund, you'll accumulate even more money. It's a think about it that can pay off!

Day 6: Make a list of new rewarding reflexes

Here are some examples: lower the thermostats when leaving the house, unplug unused appliances, limit the duration of showers or replace light bulbs with LEDs less energy guzzlers.

Day 7: tell your friends and family about your first week

How is your challenge going? What are the issues? What's the next step? Stay motivated by telling your friends about the challenge (and influence them at the same time!)

Day 8: Shop for your insurance

Do you have the best service at the best price? Go around the different companies to check... and negotiate!

Day 9: renegotiate your cellular plan

Are you paying too much for your cellular plan? Do you need all the services offered? Is it cheaper elsewhere? Find out!

Day 10: ask for a raise

Is your contribution to the company noticed? Are you doing more than necessary? So why hesitate? If you don't ask for it, you probably won't get it.

Even a few extra dollars per hour can make a big difference over months and years!

Day 11: Plan a day of activities without expenses

Take advantage of free activities in your neighborhood: a new world will open up to you!

Day 12: finally use that gift card

Take your gift cards out of the mothballs and spend an afternoon at the spa without taking a penny out of your pocket.

Day 13: Cook!

Forget takeout and restaurants for a week. See how much you've saved. We tell you: you will be amazed!

Day 14: Pack your lunches

Your parents didn't make you lunches just for fun. In the long term, it makes a real difference to the budget. Cook in larger quantities and plan your meals for the whole week.

You're halfway there: congratulations!

Day 15: break out the scissors

Subscription to the gym or to that dust-collecting magazine, streaming channel forgotten after watching in a burst of a series... Take inventory of your automated subscriptions. Take out the scissors. Click.

Day 16: Ask those around you for advice

Learn from the best practices of those close to you. Your Aunt Ranya looking hot with her finances? Ask him for his stuff!

Day 17: think vintage

Why buy new when you can have it used, for less, with a vintage look?

And why not sell what you no longer use? As Marie Kondo would say: "free yourself from the superfluous to preserve only the essential and what gives you real joy".

Day 18: buy your presents in advance?

Do you already know what your family members want for their birthday or for Christmas? Watch the sales at their favorite stores. You will save a lot!

Day 19: save in green mode

Participate in exchange groups or identify online donations of items (Facebook Marketplace, for example).

You can also follow influential and inspiring people in savings and personal finance. It may give you the idea to adopt new good habits.

Day 20: Unsubscribe!

Say goodbye to newsletters and email notifications that pressure you to spend more. Take inventory and cut!

Day 21: Empty your groceries

Freezer, pantry, spices: Use everything you have before you go to the grocery store. It's time to take action and be creative in developing your recipes!

Day 22: go for inexpensive meals

Make a list of inexpensive meals. Do you like hummus or baba ganoush? These recipes are simple and super economical to prepare. Take advantage of the season to make preserves and reserves!

Day 23: rethink your grocery store

Check your supermarket flyer to find the discounts of the week and then draw up your grocery list. Plan the meals for the week in advance so that you only buy the foods you will need.

A quick reminder: go to the supermarket after eating!

Day 24: Store food in your freezer

If your mother cooks triplicate when you go to dinner at home, leave with leftovers and freeze them. These dishes will still be so good in a few weeks!

Day 25: Pay your bills on time

Paying interest because you forget something is like throwing your money away. Be careful to avoid late fees. Long live automated payments so you never forget to pay on time!

Day 26: Consider roommates

Living with friends, family or in an intergenerational home: if it suits you, you will also find human advantages.

Day 27: Do not make any expenses or payments

Today, from sunrise to sunset, do not spend a penny. So take your coffee home for once!

Day 28: wait 30 days!

From now on, if a new “need” comes up, wait 30 days before acquiring it. During this period, you will probably realize the pointlessness of this impulse purchase.

Day 29: talk to a financial security advisor

“Finances can be complex for some people. Financial security advisors offer to demystify and popularize this for free,” recalls Mino Adjin.

He adds that savings efforts must be accompanied by related strategies, such as choosing the right financial tools. “Whether it’s RRSPs, TFSAs or RESPs, each person requires a different approach. »

Day 30: have fun!

Over time, you will find that saving will become more rewarding than consuming. So, do not hesitate to regularly review your budget to target superfluous expenses.

What's next?

A bit like going to the gym after the holidays, you have to maintain these new resolutions to feel all the benefits in the medium and long term, advises Mino Adjin. “So the next challenge is to avoid falling back into bad habits after 30 days. You have to stay focused and motivated. »

To reach your savings goals, do not hesitate to ask for help from a Sun Life financial security advisor!

Dream. Planned. Realize. Come on! We will help you.