Top 10 money savers

1. Reduce your high-interest, non-deductible debt (like credit card balances) by paying it off with a lower-interest line of credit.
2. Make the biggest RRSP contribution you can afford every year in order to maximize your potential tax return.
3. For any large purchase — especially one that you intend to finance — try to negotiate the purchase price and/or the financing conditions. 
4. Cut back on impulse buys by spending a few days reconsidering any purchase over $50.
5. Shop when items are on sale and buy on-sale groceries in bulk.
6. When deciding to buy or lease a new car, work out the math carefully before you choose. A monthly lease payment may appear to cost less, but in the long run a leased car may cost you more, depending on your circumstances.
7. Take advantage of last-minute vacation package sell-offs rather than paying the full cost in advance.
8. If you receive a holiday bonus — ask if you can receive it in January as opposed to December. This way you can defer the tax for almost a year.
9. Negotiate for non-taxable benefits at your job, such as on-site daycare, extra vacation time or better health benefits. 
10. Transfer cash balances to a high interest savings account and/or an account with low fees.
    

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Top 10 money savers