The new year will soon be upon us, and that means there are plenty of opportunities to save money. Saving can feel like a monumental task, with bills and life seemingly hitting us at all times; however, saving is possible for anyone—you just need to look for ways to cut costs where possible (we promise, this isn’t another avocado toast and millennials article). Read on to learn our top money-saving tips for 2022 and watch your bank account grow nice and full this year.
Shop with Apps
From ibotta to influenster, there are plenty of apps with the sole purpose of saving you money or giving you free product. Some of these apps, like influenster, will send you products in exchange for reviews. Others, like ibotta, will reimburse you for your purchases at certain stores. The main thing to remember here is that you’ll need to be flexible around brands to get the best deals.
Create Meals Around Deals
So, this is going to take some planning on your part; however, by planning around what you can coupon, you can save hundreds of dollars on your food bills. Look at what deals you can get through your local grocer on Sunday and plan your meals for the week. Bonus points if you food prep to save on lunches at work or school.
Make a Budget
You’ll need to rip off the band-aid for this one to see where you can cut corners and save. Are you utilizing every streaming service you pay for? Get rid of the ones you’re only viewing every once in a while. If you’re paying a lot for insurance or cell phone bills, don’t be afraid to negotiate to lower your bill or get on a better plan.
Life happens, and expenses for emergencies can rack up quickly. The best way to avoid these expenses wiping out your bank account is to have a savings account. Putting in 5-10% of your income into a savings account every month adds up quickly, giving you money for something unexpected or a trip you’ve always wanted to take.
Switch to Generic
Elle Woods wouldn’t love this one, but you will when you see how much you’re saving. By switching to store brands for things like garbage bags and medication, you’ll save hundreds of dollars throughout 2022. Remember, most of these generic products are actually made by a lot of the big brands, meaning you’re getting the exact same product for less.
Change Your Appliances
Okay, this one will cost you initially, but it saves money in the long run. If your appliances or fixtures are a decade old, look to replace them with newer models. From energy-efficient lightbulbs to appliances, your new items will pay for themselves in a short amount of time.
Fix Your Plumbing
Leaking toilets and faucets can add up quickly, causing your bills to skyrocket. For example, a leaky faucet adds $20 to your water bill every month. If you have three leaking faucets, that’s $60 you’re spending every single month! Call a plumber or (to save more) look up YouTube videos to get your leaky plumbing fixed.
Cut the Cable
Cable TV is quickly becoming obsolete, so why keep paying for it? Cut the cord for good and start utilizing streaming services for your entertainment needs. Want local channels? Most areas will give you basic channels for free with a receiver.
Lower Student Loans
Student loans add up quickly, and repayment can feel like an uphill battle. Look to see if your bills qualify for income-driven repayment plans. These plans will help you repay your loans at a rate you can actually afford being they’re based on your income.
Set the Thermostat
The old adage of 78 in the summer and 68 in the winter is great, but those temps won’t be comfortable for everyone. Set your thermostat to a higher temperature than you might normally but still allows you to live in comfort.
Sell Your Stuff
Are you really going to revisit those old college textbooks? Do you have clothes in the closet you’ve never worn or only wore a couple times? All of these items are basically money sitting in your home, taking up space. Take the time to list these items on sites like eBay to get some quick cash.
Get a Side Hustle
From freelance writing to crafting, you probably have a skill or hobby you can expand upon. Get a side hustle to get a few extra dollars every month.
Make Your Own Cleaning Products
Did you know vinegar works wonders around the house? Take the time to look around online for some homemade cleaning product instructions and say goodbye to purchasing cleaning products in-store.
Turn Off Electronics
Your television, gaming console and computer all use power, even when they’re not being used. Instead of letting your tech devices increase your power bills, unplug these items when not in use.
This isn’t going to work for everyone, but if you have a co-worker who lives near you, look to see about carpooling with one another. You’ll both save money by only taking your cars roughly half of the time.
Have a No-Spend Time
Whether you decide not to spend for a week, month or even year (it does happen!), no-spend times allow you to really cut the fat out of your life and see where you’re spending needlessly.
Shop Clearance Sales
Clearance racks are great because you’re getting quality products you love for steep discounts. The next time you go shopping, head straight for the clearance section to see if that perfect item is just waiting for you to buy it.
Pay Your Bills on Time
Late and overdraft fees add up quickly, so take the time to pay your bills on time every single month. While this isn’t the most fun item on your list, paying your bills on time will save you hundreds in 2022.
Saving money in 2022 is the perfect New Years resolution. By utilizing the above tips, you can expect your bank account to grow all year long. Which tip are you going to use this year? What’s your ultimate money-saving tip? Sound off below and let us know!