Everything is increasing in price. We’re getting less for our weekly shop, it’s costing more to fill up our cars, and energy bills are spiralling.
After a tough couple of years many people so we need to find creative ways to make our money go further and save where we can. There’s also so many great articles around helping you think of new and different ways to save money. You’ll find my favourite ones detailed below.
Here’s my tried and tested top 5 tips for saving 2022:
- Get an ISA – If you’re a taxpayer, then you need an ISA! Interest rates in instant access are dire at the moment so anything that helps especially an ISA that’s tax efficient isn’t going to harm.
Everyone who pays tax should have an ISA – it’s just good practice and savings sense.
- Do a savings challenge – they can be fun and rewarding. Try a few and see which one works best for you.
- Automate a roll up with your spending – there are many bank accounts that will do this automatically for you, every day, every week, every month or for every transaction. Your daily coffee that costs you £2.60, if you roll up the daily 40p – that’s £146.00 in a year!
- Eat the freezer for a week, or Monday to Friday once a month. Not only will you make sure you clear out your freezer, you’ll be surprised how much you can save – it’s just good practice.
- Turn down your thermostat! With energy prices continuing to rise, we are all in for a shock in how much our bills will be. So turn the thermostats down in all the rooms.
Finally remember the process of saving isn’t exciting and it’s not sexy, so find a way of anchoring the act of savings to something you enjoy. Rewarding and celebrating the little achievements and savings goals.
It’s a process and you have to trust in the process, be patient and give it enough time. It’s always about building good financial habits that can last a lifetime.
Why not make 2022 the year of making positive changes to help you save money.