Statistics Canada recently trumpeted in the news, that food prices are getting higher around the world and that this is finally affecting us.
Food inflation is alive and well in Canada and at its highest level in 2 years.
As gas prices are beginning to soar they are having an impact on consumer’s shopping patterns and the price of commodities like coffee, bread, corn and meat.
We have not noticed it pinching our bottom line yet. That is because retailers are currently picking up the tab so are bottom lines are not noticeably being affected. Competition is intensifying and retailers are slashing prices and working harder to attract more business.
Regardless of the deals you may find there are still ways to consistently save money on groceries and put that money in your wallet (or the bank) for that rainy day.
Buy local:
Buying local means you are supporting your local economy and means that items are raised and produced in your community. You can find locations of farmers markets in local flyers, newspapers and on the web.
You can usually find vegetables, meats and fruits produced and raised close to home.
Grow your own:
There are websites for everyone from the novice to expert. There is something for everyone on how to make that patch of land a delicious goldmine of fruits and vegetables.
All it takes is a little time, patience and a little practice to make all of this work.
Shopping (with a full stomach) with a list:
Shopping this way saves you from buying wasteful items that you don’t really need. Planning ahead and buying with a purpose will save you a few bucks in the short and long run.
Eat at home:
Buying fast food in excess while convenient can have a long-term impact on your wallet (and your health). Some meals are better made at home with the right ingredients and saved when possible to save yourself time on cooking and on buying lunch the next day.
You can also make your favourites by getting a cookbook or recipes you can make online.
How to save on water - Buy a water filter:
Water filters are a great way to save money. Many stores carry these filters and they can save you buying packages of water bottles in bulk. They are easy to install and quick to use. They are easily accessible and can be purchased at many retail stores including supermarket chains and Dollar stores like Dollarama.
Use coupons where possible and keep comparing prices:
I’m not saying to become an extreme couponer but getting coupons from places like Flyerland will help you purchase and stock up on items you need. You can also compare prices by reviewing shopping websites to find your favourite products.
Store rewards:
Stores like Wal-Mart and Costco reward their clients with loyalty rewards and the points they earn give them extra savings they can use while shopping.
Keep comparing prices:
Flyerland has different retailers who are now on the web to refer to and compare prices, compare products and deals.
Always check your bill:
Always refer to your receipt to see if discounts and deals have been applied. As well to see if everything is on an even keel with your bill.
Some of these are solutions that will allow you to have a healthier wallet and a healthier bottom line. And hopefully, you can use your savings to put together your own rainy day fund.
Just in time for things like back-to school shopping or just about anything.
Frequently Asked Questions
Have a question? We are here to help.
What is a Debt Consolidation Program?
A Debt Consolidation Program (DCP) is an arrangement made between your creditors and a non-profit credit counselling agency. Working with a reputable, non-profit credit counselling agency means a certified Credit Counsellor will negotiate with your creditors on your behalf to drop the interest on your unsecured debts, while also rounding up all your unsecured debts into a single, lower monthly payment. In Canada’s provinces, such as Ontario, these debt payment programs lead to faster debt relief!
Can I enter a Debt Consolidation Program with bad credit?
Yes, you can sign up for a DCP even if you have bad credit. Your credit score will not impact your ability to get debt help through a DCP. Bad credit can, however, impact your ability to get a debt consolidation loan.
Do I have to give up my credit cards in a Debt Consolidation Program?
Will Debt Consolidation hurt my credit score?
Most people entering a DCP already have a low credit score. While a DCP could lower your credit score at first, in the long run, if you keep up with the program and make your monthly payments on time as agreed, your credit score will eventually improve.
Can you get out of a Debt Consolidation Program?
Anyone who signs up for a DCP must sign an agreement; however, it's completely voluntary and any time a client wants to leave the Program they can. Once a client has left the Program, they will have to deal with their creditors and collectors directly, and if their Counsellor negotiated interest relief and lower monthly payments, in most cases, these would no longer be an option for the client.
