Last month, I had the chance to sit down with Canada’s self-proclaimed ‘money-honey’, Gail Vaz-Oxlade, to chat saving made simple with a handful of P&G Mom Bloggers.
To help Canadians overcome financial anxiety, Gail launched ‘Use Your Common Cents Day’ that was celebrated on November 4th to educate Canadians on better budgeting and financial literacy. November is Financial Literacy Month, and Gail is hoping by the introduction of Use Your Common Cents Day that it will empower Canadians to use their common sense when it comes to everyday spending.
Let’s face it – with the holiday season looming over us, many Canadians are feeling the inevitable burden of bills and the need to save. In Fact, 1 in 3 (31%) Canadians identify November as being a month their budgets get derailed due to unforeseen holiday spending.
Here are Gail Vaz Oxlade’s 6 tips for using your common cents.
- Do a spending analysis. Go through the past 6 months of spending and analyze how you spent your money on things for your house, food, entertainment, utilities, etc. Spending time analyzing how and where your money went is a great way to help you understand and pinpoint your areas of overspending.
- Use Common Cents comparisons. Aim to shop smart and look for products that will stretch your dollar. Be aware that buying no name products doesn’t necessarily mean you are saving money. It could in fact mean you are spending more.
- Plan your purchases and stick with your budget. Before heading out to the store plan for your shopping trip. By writing lists you avoid impulse purchases. Another way to avoid overspending is to bring cash to the store, and not use your credit cards. That way when your money is gone, you’re done shopping.“If you shop without a list you are letting the impulse monkey whisper in your ear!” – Gail Vaz Oxlade
- Common Cents Couponing. Common Cents couponing can equal cash. Use sites such as savingsimple.ca, Flipp, and Checkout 51 to locate deals and clip coupons for common products you purchase and love. Flyers are also useful for finding great deals, and can also be used for price matching.
- Save your savings. It is that simple. Too often people don’t save their savings, but rather find other ways to spend it. Set your savings aside. Put them in a jar or add them to a high interest savings account, and watch your savings grow.
- Don’t be a money moron. Be conscious of what you are doing with your money. Continue to be mindful of your money and work towards a common savings goal. It is always empowering to work towards a savings goal because you aren’t wasting your money, but rather are self-aware that you are “doing this”. Remember – every choice you make when spending your money is a choice your make. Make good choices.
Visit http://www.savingmadesimple.ca for helpful tips and advice from Gail on how to gear-up for successful savings. You can also join over 1 million Canadians and register to have access to print-at-home coupons on top brands, exclusive samples and daily inspiration every day of the year!
To celebrate Financial Literacy Month, we have a Common Cents Prize Pack to giveaway to one lucky reader. This prize pack includes:
- Ultra Dawn Dish Washing Liquid
- Charmin Basic
- Bounty Basic
- Cascade ActionPacs with Dawn
- Puffs Basic Facial Tissues
- Tide Simply Clean & Fresh
* This giveaway ends on December 7, 2014 at 11:59PM EST. Giveaway is open to residents of Canada only (excluding Quebec).
Disclosure: By entering the following contest you are accepting that if you win your contact information will be shared with a P&G PR and shipping agency for the purpose of mailing your prize. Please allow 4-6 weeks from the contest closure date to receive your prize.
This giveaway may appear on other blogs as part of the #PGmom program. However, to be fair, you can only win once per giveaway. If your name is chosen more than once, another winner will be selected. All winners must be from within Canada. Please note giveaways are only open to Canadian residents, excluding Quebec, and will not be sent out of the country.