Savvy Edmontonians are swapping super handy money-saving tips online
It seems like almost no matter who you speak to these days, the cost of living crisis is top of mind for many in Edmonton.
Rent prices are rising, utility bills are increasing, and don’t even get us started about the all-out assault on our bank accounts that occurs weekly at the grocery store.
In light of the cost of living crisis, a post on Reddit to r/Edmonton is offering a series of tips for those trying to make their paycheque last a little longer and free up much-needed space in their budgets.
These tips include:
- Downloading Flipp, an app that shows various store flyers and where individual grocery items are on sale, and downloading grocery store’s apps for exclusive in-app deals
- Locking in your electricity rate: “The best time to do this was two years ago, but now is better than never,” the poster wrote
- Negotiating a lower deal with your phone, internet and insurance providers
- Getting a consolidation loan with a lower interest rate to pay off debts
- Exploring various debt repayment options and getting free financial advice from Money Mentors
- Using Facebook Marketplace and Kijiji for second-hand items such as tools, furniture, and small appliances
- “Don’t let pride let you starve. Go to a f*cking Food Bank if you need to.”
- Contacting Alberta Emergency Assistance for things including overdue utility bills, emergency food and shelter supports
- Improving your home efficiency with LED light bulbs and window insulation kits
- Taking advantage of student discounts (e.g. Spotify, Amazon Prime, and other subscriptions)
- Cancelling any subscriptions you’re not currently using
In the comments, others offered up their advice and tips on improving your financial literacy.
“Basically, if you have anything to invest, you should, and you shouldnāt be paying percentages of that to banks or advisors,” one commenter wrote.
“Money Mentors was a HUGE help to me. I was stuck in student debt, low-paying jobs and everything… I just couldn’t get out of it no matter what I did. They got me back on track and I paid off my debts without having a real major financial impact on me,” another said.
Many people had food advice.
“Stop throwing cans out once they hit their dates. They’re cans — they’ll be fine for quite some time,” one suggested. “Get a granny cart if you’re on foot. These allow you to say no to a cab and you can get all your stuff home (far more than you could carry) — plus you save your hands from bag handles.”
“Get a Costco buddy — find someone to split orders with. Pays for itself [the] first time you use it.”
Another wrote, “Get a library card, it’s free and the EPL offers books, movies, shows, video games, ebooks, as well as other online subscriptions like access to some streaming services and things like car repair manuals. It’s insane how much you get.”
What are your best money-saving tips? Let us know in the comments.