If you haven't stepped outside or opened a window lately, I'm here to let you know that fall is officially here. Yes, that means cooler temperatures and shorter days. While I'll be growing out my fur and storing fat in preparation for the winter, I suspect you humans might appreciate a different strategy. Might I suggest a mini financial hibernation?
I recently came across something called Low Spend October on Reddit and I think it'll jive with many of you money savers. The idea is that after a big summer of spending (I know I let loose with beers on the patios and terraces these past few months), you'll reel it in to spend as little as possible in October. That means doing things like forgoing those $8 pumpkin spice lattes. Sigh!
A big way to go low-spend is making food at home instead of getting Uber Eats or going out to eat. Crafty grocery savings are a great way to cut back on your spending. In this edition of the Moose Money newsletter, we're sharing some tips from a family of four that cut back their annual grocery spending by a whopping $14,000 and we feature the experiment of one of our writer who bought the same items at 6 different grocery stores to figure out which one was the cheapest. Tim Hortons is also raising the price of its coffee, so that's another reason to up your at-home coffee-brewing routine.
We know it's impossible to spend NO money at all, so as usual, we've included a few great deals from across the internet to make this October your financially proudest month yet.
Let's get saving!
This Toronto Family Saved $14,000 a Year on Groceries With Penny Pinching Strategies
The Toronto Star recently shared a story about a family of four, including two kids under 10, that spent just $2,387.45 on groceries compared to the average of $16,833.67. Dee Debarros says she did this by combing flyers to find the best deals and making a list, while also looking for coupons in-store, collecting loyalty points (Debarros accumulated the equivalent of $2,000 PC Optimum points) and taking advantage of bonus events and shopping at non-grocery stores like Giant Tiger when they have good deals on food.
Source: Toronto Star
Financial Calculator of the Week
This calculator helps you create a strategic plan to pay off your debts faster by tackling high-interest debts first, saving you money on interest payments.
You Can Now Earn Air Miles From Renting Cars on Turo
Turo, a peer-to-peer car sharing marketplace (it's like Airbnb for cars), recently announced a new partnership with Air Miles. New Turo guests get 200 bonus after for signing up and completing their first trip, while existing members get one mile for every $15 spent on Turo. Cars are available in most provinces across Canada and they just launched in Yukon this summer.
Source: Canadian Auto Dealer and Turo
Minimum Wage Has Increased In Five Provinces
Half of Canada's provinces and territories are increasing their minimum wages in October. That means minimum wage earners will see some extra cash landing in their next paycheques. Ontario's minimum wage is going up from $17.20 to $17.60 while Manitoba minimum wage workers will see an increase from $15.80 to $16. Saskatchewan, Nova Scotia and Prince Edward Island also bumped up their minimum wages in October.
Source: DailyHive
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BARRY CHOI: Why Consistent Deal-Hunting Is a Money-Saving Superpower
Have you ever heard of the term “low-hanging fruit?” It’s often called something that’s easy to get with little effort.
For example, in the past, it wasn’t difficult to earn hundreds of dollars' worth of bonus points when signing up for a credit card. The promotion typically included the first-year annual fee waiver, and you only needed to spend around $1,000 to earn the bonus.
Yes, you had to spend a bit of money to get the offer, but that would have been money you would have spent anyway, so why not get something free out of it?Of course, most financial institutions have realized that these offers were too generous and have now cut back significantly. However, every so often, an offer comes up that you just can’t pass up.
Recently, Triangle Rewards offered a deal where you could earn $5 in bonus CT Money by filling up with at least 25 litres of gas at Petro-Canada or Gas+ and paying with your Triangle Rewards credit card. Alternatively, you could scan your Triangle Rewards app and pay with cash or debit to get the deal.
Even if you didn’t regularly fill up at Petro Canada or Gas+, it was worth switching if there was a location nearby, as it was easily the best gas deal. Interestingly, the offer was available multiple times, allowing you to make the most of it by visiting several times.
Another example of low-hanging fruit is the flash sales Shoppers Drug Mart frequently hosts. A few weeks ago, they offered No Name butter for $3.99 and a dozen eggs for $2.99. This deal lasted only two days, but it was likely 25% to 40% off.
In the grand scheme of things, low-hanging fruit won’t significantly affect your daily budget when making individual purchases. However, if you develop the habit of taking advantage of these deals, you're likely to see more money in your pockets.I’m not suggesting that you load up on 20 packs of paper towels at Costco when they’re $5 off, or pick up a decade’s supply of toothpaste just because they’re 50% off. But if you want to save money, you need to seize deals when they come up.
This guest post was authored by Barry Choi, an award-winning personal finance expert who specializes in credit cards and loyalty points.
Walmart Rewards Mastercard increases rewards in-store earnings from 1.25% to 3%
Walmart announced an enhanced no-fee Walmart Rewards Mastercard that boosts its reward dollar benefit. The old card used to give 1.25% back in Reward Dollars on all Walmart purchases while the new benefit more than doubles that to 3%. The benefit amount for purchases elsewhere remains the same, at 1%, but considering you can buy a lot of household items at Walmart, like groceries, the increased benefit can add up.
Source: Milesopedia
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The Price of Coffee at Tim Hortons Is Going Up
As if you needed to hear about another company raising its prices, Tim Hortons recently announced that its coffee is about to get more expensive. Attributing the bump to inflation pressures, the company said its increasing its coffee pricing by 1.5%, which equates to about three cents per cup. Sure, that's not a ton of money, but every penny counts! A small brewed coffee at Tim Hortons is currently only about $1.59, but McDonald's still sells their small coffees for $1. Or better yet, make your coffee at home for $0.50 per cup.
Source: Global News
🚨🏷️ Moose on the Loose in Dealville
50% off Pizza Hut Pizzas
$10.99
Okay, so we did say you should try and cut back on deliveries for Low Spend October, but if you cave and need to dial one in, this Pizza Hut deal gets you 50% off up to four medium and large pizzas through their new app. That means a classic pepperoni pie, which used to cost $21.99, is now just $10.99. I'll take extra anchovies on mine, please!
Atuvos Air Tracker 4-Pack
$34.99
Yes, I am a dingus and sometimes I lose stuff. Don't blame me, blame my lack of opposable thumbs! That's why I like to tuck these smart tags into most things I own so I can keep track of where they are. Amazon's currently selling a four-pack of these for $34.99, which is a 56% discount from its regular price of $79.99.
FILA Weathertech Extreme Boots
$39.99
As much as we all want to pretend it's not happening, winter is coming. If your boots have seen better days, you'd best upgrade to this pair of FILA Weathertech Extreme Boots before you start slipping and sliding at the first sight of winter. They're on sale at SVP Sports for $39.99, down from $139.99 (for you non math-y folks, that's a $100 discount). These boots have a grippy rubber outsole so you won't be that person wiping out on the sidewalk when it starts snowing outside. You can thank me later!
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