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Money Saving Tips For A Car In Stoney Creek

Money Saving Tips For A Car In Stoney Creek

Sensible spending is at the heart of budgeting and living within our means. It’s also a great way to raise money for a down payment and make sure you always have money to pay your Stoney Creek auto loan. So, who better to share 5 money saving tips for a car than our very own Stoney Creek auto loan team!


1.   Create a household budget


We always say it, because it’s always true. Creating a household budget is the #1 way to manage finances. You know how much is coming in, how much is going out and how much you have to spare.


It’s the basis of any money saving scheme and today is no different. Set one up today. Income in one column, outgoings in another and debts in a third. Make it as accurate as possible and include everything you regularly spend money on.


2.   Never go grocery shopping hungry


This is a trick passed down through my parents. Never go grocery shopping when you’re hungry. You’ll buy all kinds of things you don’t need and probably few of those you do.


Have a snack before you leave, make a shopping list and avoid impulse buying as much as you can.


If there’s a grocery delivery service where you live, that’s an even better way to save! Order your groceries online and have them delivered. Then you cut out the risk of impulse buying altogether!


3.   Use balance transfer credit cards to minimize interest


If you regularly carry credit card debt, use 0% or balance transfer cards to carry it. Why pay 20-25% interest when you don’t have to? Get a 0% credit card with a long interest free period, switch all of your card balances onto that card and pay as much off as possible during that period.


When it’s nearly up, find another interest free card and rinse and repeat. Some balance transfer cards charge a fee so make sure to check and compare before you sign up!


4.   Use the 48 hour or 14 day rule


If you’re planning to spend, use the 48 hour or 14 day rule. For smaller or cheaper items, wait 48 hours until you buy it. For larger, more expensive items, wait 14 days.


That way you’re eliminating the emotional part of the purchase and are making sure you really want it. If you still want it after that time, chances are it’s more than just an impulse and you can buy it if you can afford it.


5.   Use coupons


Couponing is almost a recognized sport in the U.S. but Canadians love a coupon too. Get them from magazines, newspapers or online. Keep anything that’s relevant and use them to make savings.


While it takes effort and organization, it can save surprising amounts of money over a year.


Do you have any money saving tips for a car that you want to share? Tell us about them below if you do!


We will use all our skill and experience to deliver the lowest possible Stoney Creek auto loan rates, guaranteed. Contact Car Nation Canada Direct to learn how we can help.


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