With life getting more and more expensive it can be a difficult and even daunting task to save money when already struggling to make ends meet. But when it comes to saving money, very small changes in our daily life can add up quickly. We will be looking at five ways how you can save money in 2022.
Eat Smart
- Keep an eye out for specials and promotions
- Buy the stores own brand
- Always make lists, and stick to it
Food is essential. But unfortunately, it can also take a big bite out of your budget if you’re not careful. Dining out too much, takeaways, and not paying attention to promotions can lead to overspending on food. Luckily there are multiple ways in saving on food. One of the first and easiest ways to do that is by keeping an eye out for specials and promotions by looking at the shop’s flyers, commercials, and online ads.
Another trick is to buy the shop’s brand of goods as that is usually the cheapest and more than likely be on special. When you use the store’s coupons make sure to check the expiry date and use it on things that you actually need. When it comes to buying fruits and vegetables buy them when it is in season and in bulk as that will be a lot cheaper. Making a list and sticking to it will also help you to not spend money on unnecessary food that you might not eat or that is unhealthy for you.
Drive Smart
- Take the bus and save money
- Carpool with a friend or colleague
- Walk-as it is good for you and the environment
Probably one of the most expensive things at the moment is petrol and unfortunately, it does not look like it is going to change anytime soon. Luckily there are some ways in which you can save in this department. Carpooling and taking the bus are two ways in which you can save money. Carpooling with someone or a bunch of people allows you to save petrol and reduce the stress of driving every single day. Taking the bus is also an option as it does not just help you save money it reduces air pollution and lessens traffic congestion. Another option to consider when it is not far is walking. It will save you petrol and your health will definitely benefit.
Get Rid of Debt
- Create a budget
- Pay off the most expensive debts
- Be aware of your spending habits
It can be very easy to lose control over your debt and struggle to find a way out. There are some ways to manage it better and gain control over it once and for all. Before you start repaying debt, first make a list of each debt you owe along with its type, remaining balance, and interest rate. When you pay off your debts focus on the most expensive ones first and then the debts you do not own that much. This will help you out financially in the long run.
Another way to tackle debt is to keep track of your expenses by creating a budget. This way you can see where your money goes and what is the most expensive debts. Compulsive spending and misuse of credit cards are also huge culprits of people ending up in serious debt. By taking your credit cards out of your wallet and being aware of your behavioral triggers you can manage your debt and spending.
Choose cheaper entertainment options
- Spend some time outdoors
- Try an online exercise program
- Try a new hobby
There are plenty of ways to have fun without spending money. Spend some time outdoors by taking a hike, swimming in the ocean, and riding your bicycle around the block. Not only do you save money you are also making healthy lifestyle choices. Speaking about healthy lifestyle choices- you do not need to go to an expensive gym.
There are thousands of interesting online exercise programs that are fun and free! Going to museums and aquariums can also be a cheaper option especially when you go on days where you get a discount or free entry. When you feel very productive you can even learn new skills. This can be a fun and exciting new project like learning how to cook or focusing on hobbies that you enjoy.
Budget
- Keep track of your daily purchases
- Will help you see what is essential and what is luxuries
- Be focused on your financial goals
The most basic step on your money-saving journey is to keep track of what you are spending money on. This means keeping track of every single purchase you make. Make a list and categorize everything like petrol, groceries, rent, and savings. Your budget should show you what your spending habits are and what your expenses are relative to your income. A budget can help you to plan your spending and limit overspending.
Our spending habits can be sneaky as we do not always realize how much and how often we overspend. Having a budget will make it easier for you to see what is essentials and what is luxuries. Also, include a savings category in your budget and save what you are comfortable with. A budget can also keep you focused on your financial goals and make sure you stay focused and do not make risky decisions.