I did a live call-in radio show today on CFRB 1010 with The Motts (Carol and Paul) in Toronto. The interview was amazingly fun and I fielded calls from a diverse group of Torontonians ranging from students to seniors looking to save some dollars. We chatted about my new book 397 Ways To Save Money (download a free excerpt here) and discussed how to save money on laundry.
After the interview I remembered a few points I wish I had the brain capacity to share during the call so I thought I’d post them here in case CFRB listeners dropped by for more information.
Students Saving Tips
I believe it was Eric, the student, who was looking for ways to cut costs on school. Here are few big saving tips for students:
- Reduce your taxes with tuition, education, and textbook amount credits. When your post secondary school issues you forms T2202 or T2202A be sure to claim all of these credits on your income taxes! Using these forms saved me THOUSANDS of dollars over the years I studied as both a full time and a part time student. If your income is too low to fully benefit from Education Amounts then do carry them forward to next year.
- Claim your moving expenses. If you moved to go to school or to work, you may be able to claim your moving expenses and reduce your taxes. I’ve saved good money claiming this tax credit when I moved from Ontario to BC to study full time. See Moving Expenses for the full details.
- Buy discount and secondhand textbooks. The internet is a beautiful place for students looking to cut costs on buying textbooks. The Canadian Capitalist did a post showing students how to Save On Textbooks.
Travel Tips for the Budget Conscious
I have a whole section on traveling tips in my book but due to time constraints on the call today I couldn’t get them all in. So here’s a quick list to get you flying for far less:
- Go all-inclusive. Choosing an all inclusive resort vacation is the easiest way t stick to your budget, since you won’t have to plan for meal expenses and entertainment. An all-inclusive flight and resort package is about 20% less than the cost of booking separately.
- Go in the off-season. Visiting a destination during its low season can often save you 30% to 40%.
- Look for alternatives to a hotel. Booking an apartment or condo may be the cheaper for longer stays and vacations. House swaps are a bargain if you’re willing to let strangers stay in your place. Browse HomeForExchange.com, HomeXchangeVacation.com and VRBO.com for ideas and reviews of properties.
Laundry, Dishes, and Cracked Hands Oh My!
Radio listeners today loved to dish on dishes and save on laundry. Here are some tips for you!
- Cut laundry costs. I wrote a whole post on laundry, called: How To Save Money on Laundry. Lather and rinse!
- Open the dishwasher door to air-dry dishes. Skip your dishwasher’s heat drying cycle and save on your total dishwashing energy costs by choosing the air-dry option or by opening the dishwasher door to air dry dishes after the final rinse. Savings add up depending the size of your family and the amount of dishes you do!
- Use olive oil for cracked hands. Dabbing a drop of olive oil onto your dry cracked hands (and feet) is a frugal way to cut costs on hand lotions and potions. The bonus is that olive oil contains no weird chemicals and most people stock it in their kitchens – so it’s handy for hands.
Meeting The Motts today on CFRB was fun. I hope listeners enjoyed the tips and the giveaway winners love their free copy of my book!