Skip to content 
Making Your Money Work
Stretching your money means to take the money you earn and maximize it to its fullest. It takes some practical thinking, but once you catch on, you can become a master with the money you earn. It also means being prudent with your spending and being careful not to spend frivolously, especially on things and people you do not need.
Please note, I am not an economist, but a regular citizen who manages my money the best way I know how. These are all suggestions that you can implement if you like them. Thank you for reading.
How Can I Stretch My Monthly Budget?
Ways To Stretch Your Dollars
The following suggestions are a list of 10 ways to stretch your dollars. These are just a start but useful if you are serious about becoming self-sufficient and independent. Apply these methods to maximize your earnings and stretch them out as far as possible.
1. Take Advantage Of Sales
Anything from one dollar to thousands of dollars in savings is a great way to stretch your earnings. Be smart about this though because it can get out of hand. If you are driving 50 miles to save $10.00, that is not smart. Use common sense when it comes to saving and maximizing your money properly.
If you have the patience to wait a few weeks to buy a big item, then wait. Sometimes that same product is 30%-50% off. Most items, with some exceptions, like an Apple laptop, will go on sale. Apple products are hardly on sale.
We are reaching a point where finding a good sale is a challenge due to inflation. It is not as common as it once was before. However, great sales do exist and you will be surprised with what you come across. You just have to be on the lookout. When you go shopping, have a mission on what you are going for.
When you find a good sale, take advantage of it as this is a great way to stretch your dollars. I automatically spot sales and save a lot of money. My eyes look at the sticker price first. Then I compare that sale price item to other items at regular price to assess the product. If it is just as good it is worth it, especially if it is something I need.
Pinching Pennies
Recently I shared the best dining room tables for families and best office chairs for long hours. Both of these items are products I waited for and got on sale. One of them was exactly at 50% off, $1000.00 off its original price. Now, the sale price is $400.00 more than what I got it at. It is a sign of inflation.
2. Take Good Care Of Everything You Have
Take care of your things. Treat what you purchase with respect. Many people have a lot of nice things, but they do not take care of them properly. Those of us who drive a car, keep the car clean.
There are so many people who have a nice car that looks like a junkyard on the inside. There is clutter and dirt all over the place. This is not to say that one should be a neat freak, but clean up the mess from time to time or try not to make one in the first place.
Board Games And Toys
As a little kid, I always took care of all my toys. They were never damaged unless they landed in someone else’s hands, which by that point, were destroyed, literally. If people did not damage my toys, I would still have all of them today, in good to great condition and worth a lot of money because these items are collectors items and considered classics today.
If someone came in my room, I knew. Everything was kept in order. If you are a child or have children who have toys, take care of them. You will be amazed what they might be worth in the future. If your children naturally take care of their things, teach them to protect their belongings and do not allow others to damage their possessions.
10 Ways To Stretch Dollars
3. Stop Eating Out
This is a difficult one for many people to stop doing, even me. North American culture is designed to get us to go out and eat. My partner and I enjoy take-out food from time to time but are mindful how often we do it. In the summertime we go out to eat at restaurants a lot more, than in the fall and winter. However, there is a budget and I usually have something saved up to this point, especially if we go somewhere nice.
Life is tough as it is and the idea of wanting a break from cooking is justifiable. However, in the long run, it is a huge liability, especially if you like going out with friends. If you watch what you are spending on eating out, see how much money is being spent on take-out food, coffee, snacks etc. It will become evident how all this spending crops up and becomes a liability.
When you purchase food from outside, you only receive a meal or two out of it, like take-out food for example. Meanwhile, cooking at home gives you three or four times more quantity of food, better quality and at a lower price.
Take-out and restaurant food ends up becoming inconvenient. You will hardly be served anywhere near the vegetables you receive if you make it on your own. This is a huge factor why making it yourself instead of buying outside is better, especially for vegetarians.
Most restaurants treat making vegetarian food like it is very difficult. If you receive a good amount of vegetables on your plate, you might pay a lot more. Many restaurants in North America, as well as restaurants that serve International dishes, feed their vegetarian customers a lot of carbs.
You will always see a lot of rice, rotis, breads, potatoes, french fries and fried food with a few pieces of vegetables. Often times the vegetables are deep fried.
It is very easy to be heavier eating vegetarian food compared to someone who eats meat because of all the extra carbs.
4. Eat Vegetarian Foods
When you stop eating out it is another way to stretch your earnings. However, it depends on what kind of grocery shopper you are. If your groceries are mainly meats, cheeses and frozen foods, you are looking at almost paying triple the price for food compared to someone with a vegetarian grocery list. Grocery shopping for a vegetarian costs significantly less.
If you switch to eating vegetarian foods you will be amazed by how much less expensive your groceries are. Instead of buying 1/2 a turkey for $20.00, take that $20.00 and buy four 5 bags of 4lb bags of lentils for $20.00. Now you have 16 pounds of uncooked lentils.
That will serve up to one main meal a day for a month for at least one person, likely more. The turkey might last, but not as long as one month and will only feed one person.
If you have the choice to buy a tray of chicken for $20.00 or a bag of rice for $20.00, the rice is a better choice. Now you have enough lentils and rice to feed you for a month. The chicken you bought for $20.00 will last maybe 4 meals only, maybe less. One tray of chicken will not be able to get stretched out for one month.
The yield is significantly better. Vegetarians are not expensive eaters. It does not cost as much to feed a vegetarian than it does to feed someone who eats meat.
If a vegetarian comes to your home, thank your lucky stars because we are cheap to feed. But we are not worth feeding junk food like a bag of chips, so please do not serve that. If you eat vegetarian foods, expect to save a lot of money.
Feeding vegetarians is not expensive. Many people do not know how to cook cost effective delicious vegetarian meals. This is a major factor that makes vegetarian cooking troublesome in North America. Check out my recipes blogs though. They are low in cost and healthy. It is a myth that those with less funds cannot eat healthy because you can.
Invest in my Authentic Homemade Vegetarian Cookbook and follow all the recipes that are high quality and low in cost. Thank you for your support.
5. Grow Your Own Garden
Another great stretch to your dollars is to grow your own garden. Those of us with just a small space to work with will not have as much of a yield than someone with land. Still, it is possible to grow something and it is worth the effort. We all have the capacity to be green thumbs in the heart of the city and be abundant with our own yearly harvest. Be grateful that you have some land or a balcony that faces the sun. Use it to your advantage.
I feel very lucky that the backyard we have gets a lot of sunlight. Check out my gardening blogs to see what I have been able to grow over the past two years. We save a lot of money from growing food.
6. Cook Your Own Meals
Even if you are not a good cook but have a slow cooker, for example, throw some rice and water in it and let it do the work. When you cook at home, you are saving a lot of money. Making rice is a basic cooking skill anyone who is old enough to handle a stove can do. In most cases, whatever the quantity of rice you wish to cook, double that amount in water and make it on the stove.
Wash your rice before cooking. It can be made as basic as this without hassle. The same applies with learning how to make rotis and baking your own bread. It is very easy and cost effective. My Authentic Vegetarian Homemade Cookbook shares how to make all the best staple foods combined with other vegetables to make full meals. This book is a long-term investment that will not go out of style. 🙂
7. Put Your Earnings In An Investment
Instead of buying things that are going to last only once or twice, buy something that will not only last a long time, but can grow over time and give back in return. This is why many people invest in land and property because the value of land will always be valuable. The prices will keep rising because people see real estate as valuable.
We know that housing and land costs continue to go up. The need for building more homes is growing and till this day, properties are a strong investment.
If you have a property or two or more, put your earnings in them. Over time they will grow. Keep your investments secure and long-term, like real estate. Have it for up to five years before moving your funds and buying something bigger or more properties.
If you are not a big money maker, be conservative. The turtle makes it to the finish line before the hare so there is no need to rush. Let people laugh at your slow pace in life. They will be shocked and on edge once you outpace them.
8. Read A Good Book Instead Of Going Out
After 2020 I watched some episodes of The Real Housewives franchise reality shows and I learned several things. The most valuable lesson I learned is that arguing and talking about nothing is not worth dressing up for. Just to make it to that party, thousands of dollars are spent on paying a make-up crew to glam them up, dress them up in designer clothes, shoes, hand bags, etc. Then they are coming to the party/event in a luxury car. All of this, just to sit around, compare and contrast one another, be jealous of others and argue. That is very stressful energy.
We are much better off reading a book at home with a cup of coffee/tea/hot chocolate by our side. Some books are so good it is hard to put them down. Plus, while you read, subconsciously your English is getting a little better.
If what is shown on these shows is the reality of what relationships between women is today, then reading a good book is much more enriching.
Be mindful where and who you invest your energy in. If you are around people who do not support you, inspire you or treat you with respect, why bother investing time in them? They are secretly undermining you and will drain you. Put that investment in yourself instead. You will be very happy you did anyway. Omitting toxic fake relationships will save you thousands of dollars.
The whole concept of keeping up with the Joneses was to trap people into debt. Watch the movie “The Joneses”. The movie is PG-13. It is educational because it shows the lengths people will go to just to fit in.
On the surface it seems funny, but in reality, it is quite sad. Do not fall for the idea of “fitting in”. You already fit in because you made it here on planet Earth. We are all in. The rest of it, selling insecurities, is a distraction.
9. DIY Home Renovations
DIY home renovations will not only save you thousands of dollars, but will increase the value of your home. This is an excellent way to stretch your dollars and save you a lot of money, while living better and doing better. In 2021, we did so many small renovations that have made such a huge difference in our home. Check out my Home Reno blogs to see all the changes we made in just one year.
We did not spend more than $10,000.00 in 2021 on home renovations and have made a huge difference in our place. DIY home renovations are truly rewarding. Not only did the money we spend in 2021 include DIY upgrades, but I was able to buy brand new furniture for our space as well. DIY home renovations are a low cost, high yield investment worth making.
10. Diversify Your Portfolio
Invest in more than one thing. Put your earnings in what you find valuable. If you are interested in stocks and do well at it, invest in stocks. If you are enthusiastic about cryptocurrency, invest in crypto. Although I do not support either avenues of building wealth, these are options many are choosing.
Cryptocurrency was manifested right after the 2008 financial crash for a reason. It is more deceptive than paper dollars. Celebrities market digital money because in the future artificial intelligence will control our world. It already kind of is.
Cryptocurrencies will give you no control over your wealth and your life. Your life will be controlled for you. However, you can do your own research on the effects of technology over humanity. We are living in it as you read this message. If you think crypto is the next best thing, well then, buy it if you wish.
I have none because I do not want cryptocurrency in my future. I see digital money as a trap against humanity. This suggestion is unpopular. However, far into the future after it is implemented, people will see where I was coming from. Nevertheless, if the world pushes us all into a controlled digital currency in space, there might no other choice but to comply. It all depends on how this plays out.
Your home is an investment and you can invest in that. If you like jewellery, invest in it as well because it is getting more expensive. Plus jewellery is tangible, unlike cryptocurrency for example and it is in your possession.
Invest in some jewellery or buy a few ounces of precious metals. Gold and silver have been around for a long time, much longer than digital money.
If you are looking to make a big purchase in your future, set aside your earnings in a TFSA account for a few years. Or put that money in the tax free savings account and keep it there.
If you have no earnings, then make sure the purchases you make have value to be traded. Food is an investment. If you say you cannot invest in anything, you can with food. No matter how rich people are, at the end of the day we all have to eat. Make sure you buy high quality foods that help optimize your health.
In Summary-10 Ways To Stretch Your Dollars
These are just 10 ways to stretch your dollars. There are many more ways, but it is a matter of perspective on how we view making money and spending it. Hopefully this offers some suggestions you have not yet implemented and see the difference in your money growing stronger.
Good luck stretching your dollars to the max. Hope you are headed on the road to real wealth.
**Originally posted on mcinthehouse.com on January 24, 2022**
**This post is updated on July 10, 2023**
If you enjoyed this article, please check out the following Related Posts
