Saving Money by NOT Buying What You Don't Need

A smart consumer knows what they actually need and what they just want.

A smart consumer knows that they don't actually need a new phone every time the models are updated nevertheless many people do buy new phones every month.

Here are some tips to not wasting your money on something you already have:

• If your phone works, don't buy a new one.
• If your car is fine don't buy a new one unless the new one is more fuel efficient and saves you money in the long run.
• Don't waste your money on expensive TV channels you watch once a year.
• Remember that for every dollar you spend from your savings account is possibly $10 after many years.
• If you are wondering if you need something, just wait a month and if you still "need" it you can buy it.

Remember this money is your money earned through your hard work.

5 Easy Ways to Make Money Grow

We all know money is hard to make, so we want to make the most of it.
There are many simple ways to do so, here are some:

1. Keep your money in a high interest savings account. Times are tough, but you can still find a decent interest rate if you shop around.
   
2. Have your employer automatically deduct a portion of your pay into a high interest redeemable savings bond (or GIC) or a separate savings account for emergencies.
3. Once you have over $10,000 you should consider setting aside $5000 to buy shares in a few well performing or well priced companies. Tips: High dividends is nice.
4. Buy things with value that will increase overtime. If you have enough money to buy and maintain an antique vehicle this could pay off well.
5. Follow Wain Roy's advice and open a money market savings account.