More tips for cutting your expenses and saving your money

There's a vast array of innovative and conventional ways of saving money and reducing your expenses. I'll continue to share ideas and tips that I have over the next week or so. I would like to hear what you think of these ideas, plus any tips that you may have.

1. Know your prices and watch your purchases being scanned. If the price scans higher than the marked price, take advantage of SCOP if it applies to the store you are shopping at. (More info on SCOP - Scanning Code of Practice - If the scanned price of a non-price ticketed item is higher than the shelf price or any other displayed price, the customer is entitled to receive the first item free, up to a $10 maximum).
2. Coupons are a great way to save money, but smart shoppers know that you can often get the same item for cheaper without a coupon if you buy generic brands. Always check the prices of competing brands to see if you can beat the couponed price.
3. Make your own baby food. Prepackaged baby foods are certainly convenient but not without cost. Learn more about making baby foods from Wholesome Baby Food and save some of your hard earned money.
4. Send away for manufacturer rebates; except when the cost of postage outweighs the rebate savings.
5. Buy clothing at consignment shops. You can get designer and brand name clothing at a fraction of the MSRP (manufacturer's suggested retail price). Often clothing found at consignments shops are still new with tags. Alternatively, you could take advantage of consignment shops by offering clothing items that you don't wear to them to sell. Perhaps you could make some extra dollars and lighten your closet load at the same time!
6. Sign up for the mailing lists of the stores where you shop. They will send you advance information of sales and special promotions. If they do not have an online site, ask the cashier of your favourite stores.
7. Replace a broken or lost button promptly. It just takes one lost button to put a piece of clothing out of commission. Which in turn could lead to spending money that you cannot afford. All you need is a small touch up sewing kit for button repairs.
8. Make a list and stick to it when shopping. Resist the temptation to impulse buy. A list will allow you to pick up the items you need systematically and help you avoid the aimless wandering around the store looking at everything they have to offer.
9. If you enjoy burning candles, an easy trick to make them last longer and cost you less over the long-run is to freeze them before burning.
10. Bank your savings! When you buy something on sale, use a cents off coupon or a free product coupon; take the money you saved and bank it! Take advantage of a tax-free savings account (TFSA) to maximize and shelter your savings from tax.

NOTE: Scanning Code of Practice is voluntary and has over 5,000 retailers across Canada participating in the Scanner Price Accuracy Voluntary Code endorsed by the Competition Bureau.

PLUS...don't forget to check out the first 10 cost cutting suggestions.