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Trying to save money and be consistent with your budget can be challenging. Many people struggle with not overspending which lead them to go over their monthly budget. Throughout this padlet I will be sharing multiple resources with methods to stretch your budget by cutting some costs.

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This is an example of a couponer's stockpile to show the possibilities of how you can earn free products, or bulk items. Stockpiling and buying bulk with coupons or when items are on sale will help you save money

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This article gives you the basics on how to begin your journey of couponing and what to expect. It goes over everything from finding coupons, how to organize them, where and how to check local flyers as well as how to organize your stockpile once your purchases begin to grow.

I liked this article as it was simple to follow and easy for beginners to get a glimpse into what they should expect before starting for themselves.

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Learn how to extreme coupon in Canada. Ever since the TLC show Extreme Couponing has aired, I have received numerous emails from readers begging me to give them tips on how to be an extreme couponer like the people they see on the show.

I'm sorry to break it to ya folks, but what you see on the show is not really how it all goes down. Those shoppers save up all of their "Free Product" and "High Value" coupons to use on the show so that their hauls will be much more impressive.

They know well in advance when their shopping date will be, so they have plenty of time to order coupons (many use a coupon clipping service at a cost - a cost that is never factored into their out of pocket total).

It's television - pure entertainment.

Is it possible to be an extreme couponer in Canada?

Yes, but don't expect to get the same types of deals as those you see on Extreme Couponing.

Many of the people on the show have stores in their community that will double (sometimes triple!) the value of coupons. They also have catalinas that print on your receipt, which are coupons you can use for future purchases (for example: save $5 on your next purchase of $20).

In addition, they often have better in-store promotions than those of us in Canada (for example: buy 5 General Mills products and get $5 off your purchase).

So, yes, you can be an extreme couponer in Canada. Just don't expect to go to the store every week and buy $600 worth of groceries for $10. It's near impossible.

How to Become an Extreme Couponer

Learning how to extreme coupon in Canada takes time. Becoming an extreme couponer and building a large stockpile doesn't happen overnight. It takes time to learn how to shop smart and get used to using coupons in large quantities. It took me well over a year to build my stockpile and I am still (and always will be) constantly taking from and adding items to it.

Find Coupons

If you really want to get serious about couponing, the first thing you need to do is find coupons - and find a lot of them. There are many ways to do this: tear pad coupons, coupon inserts, online coupon companies, printable coupons, coupon trading, etc.

Organize Coupons

Once you find a bunch of coupons, you will then need to organize them. My favourite way to organize coupons is the binder method, but of course, there are many other options. Choose the organizational system that you think would work best for you.

It's important to always stay on top of your coupons. When you get new ones, organize them right away. They start to pile up very fast! Also, don't forget to go through your coupons at least once per month and remove all of the expired ones.

Check Your Flyers

There are new store flyers every week. When you receive them, look them over and make note of the items that you think are good deals and would like to buy. Then, check your coupons to see if you have any to match up to those sale items.

You always want to shop with a list when you go grocery shopping. Otherwise, you will just walk up and down the aisles adding random items to your cart with no real rhyme or reason. To save yourself some money, always shop with a list and never buy anything that is not on it (unless you find some great clearance deals, of course!).

Also, you need to fill your belly before you go shopping, otherwise you will shop on impulse and fill up your cart with junk food. Trust me on that one.

Stock-up on Sale Items

You always want to stock up on items when they are at their rock-bottom prices. This is how you build a grocery stockpile. Give yourself a monthly "stocking up" budget and use that money to stock up on items when they go on sale.

If you use lots of frozen vegetables and normally pay $1.99 a bag, wait until they go on sale for $1 or less and then stock up. Sales typically run about every 3 months, so purchase a 3 month supply (if you can afford it) at that low price and then you don't have to worry about frozen vegetables for 3 months.

Always save your coupons to match up with great deals. I know it can be tempting to use a whole bunch of coupons when you first start out, but you will get the best bang for your buck if you hold on to those coupons and wait for a sale to combine them with. Avoid full price whenever possible, even if you have a coupon.

Organize Your Stockpile

Once you start using coupons for a while and purchasing things that are on sale, you will begin to amass a collection of items. This is called a stockpile. In order to avoid chaos in your home, you need to organize your stockpile. Basements work best, but if you don't have one available to use, here are some other ideas for stockpile storage.

Remember to always add newer items to the back and move older items to the front, to prevent expiration issues. You're not saving any money if you just end up throwing things out!

Donate Your Extras

When you start getting the hang of using coupons and stockpiling, you will probably end up having a whole heap of items that you can't possibly use before they expire. I would suggest donating those stockpile items to local food banks, shelters and even friends and family. Help others in need. Pay it forward. If you do good, good will come to you.

Becoming an extreme couponer is hard. It takes a lot of time, and it can be stressful. You have to find coupons, clip coupons, organize coupons, plan shopping trips, go shopping and put everything away. You will sometimes deal with cashiers that don't want to accept your coupons. There will be great big hauls and there will be very small hauls. Expect that.

If you want to be extreme, couponing becomes a job. It's not easy - but it can certainly be worth it!

If you found this article helpful, please share it with your friends and family by clicking one of the social share buttons below (or at the top-right of this post)!

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Learn how to extreme coupon in Canada. Ever since the TLC show Extreme Couponing has aired, I have received numerous emails from readers begging me to give them tips on how to be an extreme couponer like the people they see on the show.

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Here is an in-depth video going over how to begin extreme couponing here in Canada. You will learn how to start couponing, where to find coupons, ways to earn cash back, and will be shown multiple platforms such as Reebee, a site/app that gives you access to all store flyers in one location. You are even able to search for a specific item and get results for all the deals available for that product.

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This articles dives into the details regarding cash back and how to earn it. If you weren't already aware, there are many apps that you can use in order to scan your receipts from purchases, submit, and receive cash back. After viewing this website, you will have a better sense of how you can save money using this method.

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The 26 Best Cash Back Apps in Canada for 2022 | Hardbacon

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Canada’s cash back apps can make a big difference in your budget. Cash back apps let you earn back money or start a new income stream.

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In this video I have attached, you will go over where you can locate coupons to use here in Canada. Couponing in Canada is not talked about or as common as it is in the US. Three methods discussed in this video are online printable coupons, clippable coupons, and mobile app coupons.

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WHERE TO GET COUPONS IN CANADA |  Find Online Printable, Paper Clip, and Mobile Apps!

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Aside from couponing, there are other methods in which you can save money monthly, and attempt to have left over funds. This articles gives readers information on ways you can do so.

I found it interesting to learn that there are many class action lawsuits you can learn about that you may qualify to benefit from through a list on the Consumers Association of Canada website.

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1. Cut the cost of your debt

High-interest debt from credit cards and personal loans can be a major drain on your bank balance, especially if you're making only the minimum payments each month.

To slash the cost of that debt, you might shop around for a debt consolidation loan. You'll trade in all of your current balances - on credit cards, loans, everything - for a single monthly payment at a lower interest rate.

You can apply for a personal loan in as little as 30 seconds. Depending on how much interest you're currently paying on your debts, consolidating them could save you thousands of dollars and help you become debt-free years sooner.

2. Hunt down your long-lost money

You do know where all your money is, right?

Actually, people move on and forget all about money in old accounts all the time. It's so common that Americans currently have more than $40 billion in unclaimed funds waiting for them.

Is any of that yours? Search MissingMoney.com, which will show if you left any money in an old checking or savings account, or if you're entitled to unclaimed life insurance policies from relatives who have passed away. (You'll want to be much more careful when you buy your own life insurance policy.

You also should check with Revenue Canada to see if there are any tax refunds you're missing. You can amend your previous tax returns for up to three years if you were eligible for a refund but neglected to claim it.

3. Use technology to save when you shop online

If you do most of your shopping online - and these days, who doesn't? - you likely go to the same website again and again. You know the one.

But Amazon doesn't always have the best prices, and nobody has time to price-check every store.

You can let technology do that work for you. You might download a free browser extension that will automatically find you deals and coupon codes every time you shop online.

You also can set price-drop alerts for your favorite products, so if they go on sale, you'll be the first to know. Installation of the add-on takes just a moment and could save you hundreds of dollars a year.

4. Play the market with your extra cash

If you've never put money into the stock market, you might think owning a piece of a well-known company is out of reach. After all, stock prices have been climbing higher and higher over the last year.

But one popular service will let you buy fractions of shares, allowing you to ride the stock maket juggernaut with just your spare change. You can by pieces of companies like Google and Tesla for as little as $1 - and when they profit, so will you.

5. Shrink your car insurance bills

If you've got a car and aren't shopping around for cheaper insurance every six months, you could easily be overpaying by hundreds of dollars a year.

Comparing rates from multiple insurance companies may sound like a lot of work, but some websites do the shopping around for you. You might find a better deal in just a few minutes.

You'll answer a few quick questions and be presented with the best quotes from numerous car insurers. That way, you can find the lowest price available on the coverage you currently have.

6. Stop paying too much for home insurance

Homeowners insurance rates have been rising for many Canadians. But if your bill seems too steep, you might be able to cut it down to size with some good old-fashioned shopping around.

Don't stay married to a policy that might be costing too much. Instead, go online and compare quotes from hundreds of insurers. Answer a few basic questions, and you'll instantly see the best deals available in your area.

You could save serious money on your homeowners policy by comparing rates - while keeping the same level of coverage you currently have.

7. Get paid when businesses behave badly

When companies do the wrong thing, they get taken to court - and sometimes their customers get compensated.

The Consumers' Association of Canada has a website that lists class actions lawsuits. You can check to see whether you qualify to join in any of these suits, which may result in money coming to you.

Recently listed class action suits in Canada include one for owners of lawnmowers and another involving price-fixing of auto parts.

The criteria for eligibility will vary depending on the lawsuit, but in some cases you may not even need a receipt to get reimbursed.

8. Make money with your pocket change

Another way to use the stock market to help you battle rising inflation is by putting your pennies to work.

You could use a trading platform to help you grow a diversified portfolio with investments of as little as $1.

Inflation may be eating away at the value of money, but your pocket change is far from worthless. If saved and invested properly, it could turn into hundreds of dollars over the course of a year.

About the Author

Ethan Rotberg

Former Reporter

Ethan Rotberg was formerly a staff reporter at MoneyWise, based in Toronto. His background includes nearly 15 years as a writer, editor, designer and communications professional. His work has appeared in the Toronto Star, CPA Canada and Metro, among others.

Disclaimer

The content provided on MoneyWise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.

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Inflation busters: 8 ways to stretch your money and fight soaring prices

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High-interest debt from credit cards and personal loans can be a major drain on your bank balance, especially if you're making only the minimum payments each month. To slash the cost of that debt, you might shop around for a debt consolidation loan.

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27 ways to save money in Canada are mentioned in this video.

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How to Save Money in Canada: 27 Practical Ways

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What did you learn about the topic that surprised you most?

Before doing research and learning about couponing, I did not realize how widely available coupons are to Canadians. I always thought extreme couponing was only present in the United States.

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Posted here on the Government of Canada website is a guide on how to create your own budget. It is necessary to build your budget and be aware of your spending habits before you attempt to save and have more room in your budget.

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Why make a budget

A budget is a plan that helps you manage your money. It helps you figure out how much money you get, spend and save. Making a budget can help you balance your income with your savings and expenses. It guides your spending to help you reach your financial goals.

A budget is especially important if you:

don't know where your money is going

don't save regularly

have problems paying off your debts

feel overwhelmed by your finances

feel like you're not in control of your finances

want to make the most of your money

are planning for a major purchase or a life event

Making a budget can help you:

set spending limits

find ways to pay down your debts

reduce costs and save more

live within your means

reduce financial stress

have more money for things that are important to you

feel in control of your finances

What to consider before you make a budget

Take these simple steps before you make your budget.

Think about your financial goals

Identify your short-term and long-term goals. Make saving for those goals part of your budget.

For example, goals may be:

Short-term goals:

paying off your credit card

reducing your weekly expenses

starting to build an emergency fund

Long-term goals:

paying off all of your debts

saving to buy a home or a car

saving to have children, to go to school or to retire

To deal with unexpected situations, create an emergency fund. Your emergency fund should provide you with enough money to cover your living expenses for 3 to 6 months. These amounts can sometimes seem out of reach. That is why you should start by saving a small amount on a regular basis.

Having an emergency fund will help you reduce financial stress and avoid getting trapped in a debt cycle.
Learn how to set up an emergency fund.
Know where your money is going

Tracking your money will help you figure out what comes in and what goes out of your pocket. Every dollar you spend affects your overall budget.

For example, if you spend $3 a day on coffee, it will cost you more than $1,000 a year.

To keep track of where your money is going, take note of what you spend.

Try this exercise for 1 or 2 months:

keep track of everything you buy, from groceries to a daily cup of coffee

keep track of bills you pay during this period, for example your telephone or internet bill

try dividing your expenses into 2 categories: "needs" and "wants"

Small changes to spending habits can have a major impact on your budget and your ability to save.
Find ways to save money before shopping.
Evaluate your needs and wants

Knowing the difference between your needs and your wants is key to making a smart budget.

A "need" is something that is necessary, required or essential. For example, a roof over your head, clothing, food, or medication.

A "want" is something that you'd like, but don't necessarily need. For example, meals at a restaurant, a trip, a gym membership, or designer shoes.

Needs and wants aren't the same for everyone. One person's "want" may be another person's "need". For example, if you live near a bus route, a car may be a want rather than a need. However, if you don't have access to public transit and can't move around otherwise, you may need a car.

Your needs and wants may also change over time. For example, a large house may be a need while you're raising a family. However, a condo or a smaller home may be what you need when your children move out.

Once you've figured out your needs and wants, you're ready to make your budget.

How to make a budget

In order to make a useful budget you need an effective tool that is easy to use.

The Budget Planner is a tool that allows you to create a personalized budget and save it online. It gives you tips and guidelines and helps you figure out your next steps with suggestions. It also creates charts that show you where your money is going. You also have the option to compare your budget with those of other Canadians like you.
Use the Budget Planner to make a budget.
Steps to make a budget

Take the following simple steps to make your budget.

Step 1: List your income, savings and expenses

take your recent pay stubs, bills, and account statements

enter the amount of income, savings and expenses into each category of the Budget Planner

if you can't find a field for a specific item, you can always add and name your own items

When you're done, review the amounts to make sure you didn't forget anything. These items should represent your current situation.

As you're entering data, the tool will give you tips to help you save more and/or spend less. Consider those tips to balance your budget.

When you're done creating your budget, save it online so you can return to it anywhere, at any time.

Step 2: Review your results

The results section provides you with average guidelines. These guidelines tell you what Canadians usually spend or save for each budget category, for example, food, housing, clothing, insurance.

Look at the different alerts you receive for each category:

green thumbs up: this amount is within the average range

yellow warning sign: this amount is slightly above the average range

red hand sign: this amount is above the average range

These alerts will help you determine where you should focus your attention or try to reduce costs. Everyone's situation is different and while the guidelines can't apply to everybody, they provide a good starting point.

Review your results graphics, they give you a clear visual of your overall budget. You'll see a graphic that shows you how your budget compares to those of other Canadians in similar situations. It's valuable to compare your financial habits with people with similar age, income, housing and family situation.

Step 3: Review your next steps

In the next steps section, the tool gives you personalized suggestions. These suggestions are based on your situation and what you have entered in your budget. They help you figure out your next steps whether you have money left or are overspending.

Read them carefully and follow the links to useful educational tools and content to improve your budget.

Tips to help you stick to your budget

Now that you have a budget, try to stick to it and improve it as you go.

To help you with this task, try the following:

keep all your receipts and bills

limit your spending as much as possible to what's in your budget

update your budget with any changes, for example, a pay raise or a bill increase

compare your budget to what you actually spend at the end of each month

Evaluate your budget from time to time. If your actual spending often varies from your budget, adjust your figures to make it more realistic.

When comparing your budget to your actual spending, ask yourself the following questions:

are there large differences between your actual spending and your budget

which categories have the largest differences

are differences due to an unusual situation or is this likely to happen each month

can you save enough money to reach your financial goals or pay off your debts

Continue with this exercise each month. You can set a reminder or book time in your calendar to review your budget regularly. If you make it a habit, you are more likely to stay on track.

Related links

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budget; managing your money; financial goals; tracking my money; my financial needs; my financial wants; tracking your money; your financial needs and your wants; budget planner; personal budget; budget maker

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Tips on how to make and stick to a budget. Consider your needs, wants, spending habits and financial goals.

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Here is a video demo explaining how you can build your own budget based on your spending and your income

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Budgeting for Beginners - How to Make a Budget From Scratch 2021

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Provide a real-life example of how this topic is relevant or interesting for you.

This topic is interesting to me as I am always trying to find new ways to save money on expenses in order to save money to invest or to grow for the future.

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If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

I would share the information I learned about Reebee, I find it very convenient to be able to see all flyers for stores to compare before deciding where you want to do your shopping.

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Many people who coupon have binders in order to stay organized in the store during their shopping experience