Tangerine Canada has recently posted a little infographic detailing how small sacrifices can aid your savings and allow you to put more money into your savings, investments, or simply to spend the money on something planned. Evaluating your priorities so that you know what you are spending your money on can only be a good thing.
Here’s a few examples from Tangerine:
Skip the latte and go on a vacation: $4.50 every morning = $1,512 or a vacation getaway
Save by making lunch at home: Eating out costs an average of $10, while a brown bag lunch costs about $2.50 on average. Savings: $2,520 per year, which could profitably be added to your RRSP contributions and save you some tax money into the bargain!
Check out Tangerine’s forward thinking blog for this item and others like it here.