Small savings habits beat big resolutions; the 1% challenge is one change a month, and here is how to start.

I get it – it’s hard to save money. The same applies to some of our routines and changes that we want to make. If it’s too daunting, then we just ignore it or avoid it.

So when I read a newsletter about a 1% change, I thought – that’s it! I don’t need to make 100% of the change or save 100% of the funds all at once. But if I start with 1%, then I can handle this.

So here’s my challenge to you:

Save 1% extra in your chequing account this month.
Save 1% extra in your savings account this month.
Reduce your grocery bill by 1% each time.
Reduce your fun spending by 1% each week.
Give yourself permission for some self-care 1% longer than usual.

What do you think? Can you handle the challenge?

You might be saying, you’ve got to be kidding me. This is silly. But the thought process is that in saving 1%, you often save a little more than that. And if each time you do that, you set that extra money aside, that 1% grows into a little “nest egg” that can be used for something bigger.

A mindset change starts to happen where you start becoming more aware of your spending and savings.

And the 1% more self-care, well that’s just a little reward for yourself!

Enjoy,

Lisa

Start with cash flow, not perfection

Most people are not stressed about money because they are doing something wrong. They are stressed because things feel unclear. Confidence comes from understanding, so the first step is simply to look: what comes in, where it goes, and what it needs to support. Once you know your true fixed expenses, how flexible the rest of your cash flow is, and where the pressure points show up, every financial decision gets calmer, including the mortgage ones.

Three small wins that add up

Be deal-savvy, not deal-driven. Ads promising 60 percent off are designed to make you buy things you did not need. Shop from a list, compare, and use the cash-back and flyer apps you already have for the things on it.

Take a sledgehammer to the food bill. Plan the week’s meals around what is on sale, cook from scratch where you can, use up what is going soft (old bread becomes croutons, tired apples become applesauce), and shop with a list so the aisles do not do the shopping for you.

Sell what you no longer use. A weekend of listing unused items on local marketplace groups will not make you rich, but a few hundred dollars into the savings account, and a tidier house, is a real return on two afternoons.

Small savings habits beat big resolutions because they survive a bad month. If you want a place to put the money, a First Home Savings Account or a mortgage prepayment turns the 1% into something that compounds, and the small savings habits you build now are the ones that make the next mortgage easier.

Talk to us about small savings habits

Every file is different, and a ten-minute conversation usually answers more than an hour of reading. Book a call with Lisa or Kelly, or phone 289-723-2126, and we will walk through your numbers.