Where can you find more money to invest?

1. Consider going from two cars to one. You could save up to $10,000 a year in insurance, repairs, maintenance and gas costs by running only one car and using public transit for some trips.

2. Pay yourself first. Set up an automatic transfer to your RRSP, TFSA or other savings account every two weeks to coincide with your paycheque. You won’t even miss the money after a while, and if you save enough automatically, you can spend the rest guilt-free.

3. Cancel that expensive gym membership. You can easily spend up to $800 a year at a high-end club. Instead, look to programs at your local recreation centre—the fees can be as low as $10 a month.

4. Install a programmable thermostat. These devices regulate the temperature in your house automatically according to the schedule that you set. You can save 10% to 20% a year on your energy bill.

5. Trim wasted spending. Examine your budget for expenses that can easily be trimmed. For instance, it may be worth raising the deductible on your car or home insurance to reduce your monthly payments. Choosing a $2,000 deductible instead of a $500 deductible can save you 25%.

6. Exploit your benefits. Visit your company’s HR department and ask about job perks. You may be eligible for a great pension or low-cost group RRSP, plus company discounts and free workshops and seminars.