We are still fresh into a new year, and if you had a goal to save money or get out of debt I’m here to help! I found six of the best tips for your finances for 2022.
1. Set a budget, and make it realistic. If you are spending $600 a month on groceries it’s probably not practical to decide you can do it for $150 a month. You will likely starve doing that. Maybe you could shop your fridge, pantry, and freezer and get by for the first month, but after a short time you will run out of food. Try reducing by $50 or $75 in the beginning and work from there to your realistic goal budget.
2. Set a shopping timer. Yikes. This one is aimed at me. I’m a late night shopper, and I can spend a lot of time on Amazon while I’m up for a feeding with my baby. Setting a timer and sticking to your list are game changers for your budget! If you didn’t get it after 5 or 10 minutes you probably didn’t know you “needed it”.
3. Delete your auto fills- get up and get your wallet. It will make you think twice about the money you’re spending.
4. Splurge with cash, cash has no interest applied. Cash doesn’t result in overdrafts. Pay for your splurges in cash.
5. Make your goals visible. What happens when you pay off debt? Or what will you do with the money you save? Print out/draw/write down your goal and put it where you will see it or set it as your phone or desktop background. Keep it on your mind to keep you motivated.
6. Try a no-spend week or weekend once a season. You can set your parameters for what is allowed and what isn’t. Necessities like gas to get to work, bills, etc. may be exemptions if going for a whole week. Decide what is still allowed but cut out all unnecessary spending for your set amount of time.
The beginning of a new year is when so many start new goals, but a random Wednesday is also a good time to get your finances in order. The most important thing is getting started.