From couponing to meal prep, here are ways Manitobans can save money

With the cost of living skyrocketing to new heights, it may seem impossible to save money right now.

However, whether it’s searching for coupons, shopping seasonal produce, or cutting back on takeout, there are some ways you can start bringing in some extra cash and get your finances in order.

Jessica Moorhouse, financial educator and host of the More Money Podcast, said the best way to start saving money is by determining the source of the problem.

She suggests taking a look at your past three to six months of expenses to identify patterns.

Moorhouse also recommends putting everything into a spreadsheet.

“You’ll start seeing some patterns, like ‘Oh wow, I’m going to this coffee shop all the time or I’m doing a lot of online shopping on the weekend. Maybe I need a different activity,’” she said. “So seeing some of those recurring patterns.”

Carrie Hayes, a budgeting and personal finance coach, also suggests getting all your financial details into one spot and taking inventory.

“I know that seems like obvious advice, but a lot of people have their phone bill in one place, their Netflix bill in another and it’s kind of all over,” she said.

She said her best advice is to set up your money so that it’s a bit ahead of you, meaning so you have the money for your bills set aside 30 days in advance.

“I’m not saying it’s easy to get that right away,” Hayes said.

“But that’s the top thing that will take away most of your money stress."

Cutting costs

For those looking for places to save money, Moorhouse said there’s nothing she considers “bad” to spend money on, but rather it’s about cutting back on things that don’t bring value to your life. This includes purchases you make out of emotion, stress or hunger.

“It very well could be, ‘Why am I ordering out food like every second day?” she said.

“It’s likely because you’re stressed, you’re tired and you don’t want to cook all these kinds of things.”

She said the solution is changing your mindset and finding joy in different activities. For example, if you are ordering a lot of takeout, you could try and find ways to fall in love with cooking.

“Sometimes it’s about figuring out where the money is going and are there areas that you’re like, I don’t feel good about the money going there,” Moorhouse said.

“That’s where we should focus on retraining ourselves and seeing how can we flip the script a little bit.”

Another way to save some money is by looking at your financial products, along with your consumer purchases.

One thing Hayes advocates for is switching to a no-fee bank account, which can help you save $15 to $20 a month. She also recommends shopping around for interest rates if you are paying off debt, and looking at products that will earn you interest.

“Often with those no fee bank accounts you’ll get a better interest rate,” she said.

“So for example, at one of the big five banks, you may be getting a 10th of a percentage point in interest on your savings, whereas if you move to a no-fee bank, I’m seeing between two and four per cent right now, which can add up over the long run.”

Cooking tips

For those who feel like all their money goes to groceries and food, professional home economist Getty Stewart says meal planning and grocery store preparations are the keys.

“There are some studies that say that when you go shopping with a plan and the list, it can reduce your grocery bill by 23 per cent, provided you stick to the plan,” she said.

Stewart also recommends buying seasonal produce and then repurposing those ingredients into different meals. For example, she said green beans, which are in season right now, can be made as a side dish, into a three-bean salad and then into a bean and feta salad.

Stewart added that it’s also about knowing how to properly store food.

“Knowing how to store food will help save money in the long run, because you can take advantage of bulk buying, buying bigger bags, knowing that you’re going to store them well and have a plan for using them,” she said.

While in the grocery store, Stewart suggests comparing brands and calculating price per unit. She said going for the big brand name isn’t always the best choice.

“Talk to family and friends, which ones do they love?” she said. “Sometimes the off-brand labels are even tastier than the brand names we’re used to.”

She also emphasized that convenience is more costly, so the more you can prep at home the more money you will be able to save.

“For example, peeled baby carrots will cost you $1.50 per pound whereas the full-size carrots will cost half of that at 75 cents a pound,” she explained.

“A block of mozzarella cheese versus shredded mozzarella or cheddar is going to cost maybe ¼ of the price than if you get it pre-shredded.”

Couponing advice

Another way to save money at the grocery store is through coupons.

Patricia Marquez runs the 204couponing Instagram as a way to help those who want to coupon.

She said couponing has innovated over the years and now includes apps, loyalty point systems and printable coupons.

“Now everything’s on your phone,” she said.

“You can watch the sales. You can follow the price mark that we’re hitting to get the items for free.”

Marquez said coupons can be used for several different items, including food, personal care items, and baby products. She said the savings can range from 20 per cent to getting items for free.

Her advice for someone who is just starting with couponing -- download any type of flyer app, including Flipp and Checkout 51, to start saving money quickly.

Why save?

Though saving money may seem like a daunting task, it has many benefits, including bringing down your stress levels.

“You’ll feel more safe, more independent and have more personal agency,” Hayes said.

Moorehouse noted that financial management is a form of self-care.

“No one else is going to take care of your finances besides yourself,” she said. “It’s coming to the rescue, and you want to start as soon as possible, because the sooner you start, the better off you’ll be in the future.”