3 Money Saving Hacks for 2022

If you’ve written out some new year’s resolutions, then chances are something to do with money or finances is on your list. Whether it’s saving enough for your dream vacation, for a downpayment for a house, or just getting rid of your debt, in order to achieve those financial goals you’re going to need some savings. Getting into the habit of saving can be hard, but once you’re there you’ll soon see how fun and easy it can be. Here are my top 3 money saving hacks for 2022 that can help you set aside more in savings and get closer to your financial goals.

1. Make Coffee at Home
Starbucks has once again raised their coffee prices, and my favorite drink now costs $7. While I love having a coffee when out and about, those $7 drinks really add up fast. One every day for a year comes to a grand total of $2555 each year, which is easily enough for a holiday. If some days you have two, well you can only imagine how much you’re spending. Not only is there the expense of the coffee, but all the syrups, cream and extras while delicious are calorie bombs. Learning how to make coffee you love at home can actually become somewhat of a hobby. You’re going to need to learn more about how to properly prepare coffee and you can really perfect making it how you like it. Buy yourself a good espresso machine and milk frother, and you’ll be surprised how delicious it can be.

2. Start Investing
Investing can be a great money saving hack, because you’re putting your money to work. You’ll often see much higher returns than leaving your money in the bank. You have tons of options, from cryptocurrencies through to a Performance Bond, but the important part is doing your own research to see what option feels good to. I suggest setting up regular investment amounts, so that you’re constantly adding to your portfolio. If you can set it up so there’s an automatic payment, all the better, that way you can set it, forget it, and then see your savings grow! I find investing a good way to help kick start my savings goals because with the money outside of my spending account, I’m not tempted to spend it or use it for other things, so I know it will definitely be saved.
3. Watch Your Food Bill
We all have fixed bills like our rent or mortgages, car repayments, and so forth. I find that it’s the fluid bills where there’s the most saving potential. With a bit of forward planning and budgetting you can cut down your food bill dramatically, which can leave you with hundreds of dollars extra each month to put towards savings. There are some easy food buying hacks you can do to help yourself save, such as doing bulk freezer meals, buying in bulk at discount stores such as Cosco, and even shopping in season. I find the biggest money saving tip for me with groceries is to make sure I have a clear list when I walk into a store. If I just try to shop spontaneously I end up with a lot of things, but no actual meals and have to go back again soon.

Saving more money can mean you’ll have more money left to reinvest into your business too. Whether you’d like to invest in the best calibration weights or set aside some money to hire a new employee, having more in savings can help you amplify your business.

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