Marie-Christine Daignault | Desjardins Group
Saving is all about making small, day-to-day changes. Insignificant? Not really!
We’ve all heard that buying a coffee a day adds up to $800 a year. But therre are lots of examples of unnecessary expenses! That’s why we suggest you take on a new challenge so you can develop new micro-habits. Without even realizing it, you can save a lot of money—and often faster than you think!
Your challenge: start (or replenish) an emergency fund.
Step 1: Calculate your monthly expenses for 3 months to determine your savings goal. As a general rule, you should set aside enough to cover 3 months of expenses.
Step 3: Find ONE good opportunity to save every day. For inspiration, here’s a list of the 5 most common tips for successful savings shared by our members.>
Step 4: Calculate your savings every day and transfer that amount as often as possible toward your savings goal.
Step 5: Stick with it—it takes 21 days to form a new habit.
4 points to consider
The fewer monthly expenses you have, the smaller an emergency fund you’ll need: