Year over year, it’s easy for our personal finances to remain the same if we keep living the same way. That means keeping the same habits, mindset, and daily actions. Without change and action, things stay the same.
This post will focus on just that-taking action and improving our money situation. Now that we are a few months into the year, this post will focus on 64 easy ways to save money in 2022.
Similar to my post How to Drastically Cut Expenses, this will be divided up into six different categories to keep things organized.
- Food and Grocery
- Household
- Transportation
- Travel and Entertainment
- General Money-Saving Principles
- Housing
Category One: Food and Grocery
Number 1. Shop in-Season
Really easy to do and doesn’t require much thought. Simply shop in-season. The produce will taste better and the costs are significantly less. For example, cantaloupe and strawberries in the summer, oranges in the winter. If you’re interested in more detailed steps, read my book Cash Uncomplicated.
Number 2. Cook More at Home
Cooking more often at home not only saves money, but is generally healthier than going out to eat at restaurants. Think about cooking breakfast, lunch, and dinner at home. Nothing wrong with enjoying a meal out now and then, but try to keep a regular cooking schedule.
Number 3. Make Coffee at Home
I wrote a whole post about this to see if brewing your own coffee really saves money. The answer is it does make a big difference, especially if you live in an expensive area where coffee costs more.
RELATED: Brewing Your Own Coffee: Will it Really Make You a Millionaire?
Number 4. Use Coupons
I’ve never been one to cut out coupons from the Sunday paper, but taking a quick look online for coupons can save good money. Especially for items you use regularly and can buy in bulk.
Number 5. Meal Plan
Planning and writing things down goes a long way towards completing a task. In this case, the task is to cook. Writing down your meals for the week greatly increases the odds that you will follow through. Plus, you get to plan out delicious and healthy meals.
Number 6. Drink More Water
Soda, juice, and other drinks are expensive. Water is almost completely free if you drink it out of the tap or buy the large jugs. Not only will you save money but the general consensus is that water is the healthiest thing anyone can drink.
Number 7. Stock up on Sales
When food you normally eat goes on sale, stock up. If it’s something you regularly eat anyway, why not buy more when it goes on sale. This works perfect for non-perishables. Perishables can be a little more challenging so make sure you’re not buying things that will quickly go bad.
RELATED: How I Saved $50 at the Store in Less Than 45 Seconds
Number 8. Grocery Shop Less
More trips to the store means more opportunity to buy things you don’t need. Instead of stopping by the grocery store four times a week on your way home from work, make one shopping trip. Less opportunity to buy and more time you get back on unnecessary trips to the store.
Number 9. Leftovers
Since you’re cooking dinner anyway, cook a little more and keep some leftovers. Not only does this save money, but it also saves time in meal prep. It’s much faster to cook one large meal with leftovers than two normal sized meals.
Number 10. Make a Grocery List
To save money in 2022, make a grocery list. It’s human nature to wander around the aisles at the store and pick up anything and everything that looks good. Creating a list prevents this from happening because with a list, you’re shopping with intentionality and a plan.
Category Two: Household
Number 11. Negotiate Bills
Negotiate bills to save money in 2022. Contact various providers: internet, streaming services, cable, etc. and see if you can get a better rate. Companies want to keep your business so they often will offer you much better rates. The key is you have to ask–companies aren’t going to offer money to you out of the blue.
Number 12. Check Utilities
Check utilities for a couple things. Number one that there aren’t any mistakes or overages in your bills. Secondly, see if there are programs to get better rates. Many companies have assistance or other types of programs.
Number 13. Reduce Heat and AC
When you’re not home, reduce the use of heat and AC. Same applies at nighttime when you are sleeping. Even turning the thermostat up or down a few degrees can make a big difference in savings. For energy savings tips, check out these sites:
Number 14. Fill Up Dishwasher and Washing Machine Completely
Before you run the dishwasher or washing machine, make sure it’s full. Not overfull, but full enough to make it worth the energy costs. If there’s plenty of room in the dishwasher for tomorrow’s dishes, hold off on running it until the next day.
Number 15. Use Less Water
Running the dishwasher and laundry less will help with this tip. Use less water in general. Optimize sprinkler use, take shorter showers, turn the water off when you’re brushing your teeth, etc. All easy things to do that take very little effort.
Number 16. Dry Clothes Appropriately
Set the dryer for the right time. Drying things longer than they need wastes energy and money. You don’t have to be perfectly precise (say that 10 times fast), but try to get it within a few minutes.
Number 17. Clean Dryer Lint Trap
Keep your dryer running as efficiently as possible. After you take out a load of laundry from the dryer, make it habit to clean out the lint trap. This shouldn’t take more than a few seconds and it will keep your dryer running at its most efficient.
Number 18. Change Air Filters
This takes a little more effort than cleaning out the lint traps, but it’s an important step to keeping your HVAC system running smoothly. Periodically check your air filters and change them out when they get dirty. A quick glance up at the filter will tell you if it needs to be changed or not. I buy my air filters in bulk and keep them in the shed.
Number 19. Use Products Completely
An easy way to save money in 2022 is by using products completely. Don’t throw away the dish soap or lotion when there’s an eighth of it left over. Flip it over and use as much as you can. With that said, you don’t need to squeeze out every drop of every product, but use as much as you can of it. This is easy to do with products like toothpaste, laundry detergent, shampoo, etc.
Special Note: Use Common Sense. This applies especially to showering. If you’re spending extra time trying to get the last out of the bar soap or shampoo, you might actually be spending more money. Why? Because the water is running. Once items like bar soap and shampoo start to take too much time to get the last out of it, time to throw it away and use a new one.
Number 20. Low-Flow Showerheads
Install it once and you’re done. If you have strong water pressure, a low-flow showerhead will probably save you a decent amount of money. Don’t take the pressure so low that it’s going to annoy you or make showering an aggravating experience–but if you can reduce the flow just a little bit, you’re likely to save some money in 2022.
Number 21. Identify Any Leaks
Check the house for any leaks. Under the kitchen sink, in the bathroom, laundry room, and sprinklers. Not only will this save money in water consumption but it’s a good way to prevent long-term water damage.
Number 22. LED Bulbs
Replace old bulbs with LED bulbs, similar to these. They last longer and use much less energy. An easy and quick way to save money in 2022.
Number 23. Minimize Disposable Items
Paper plates are great for picnics and barbecues at the park, but not so great for everyday use. When at home use regular plates, bowls, and utensils. This avoids creating excess trash and saves a lot of money just by washing your own plates, bowls, and utensils.
Number 24. Turn off the Lights
I’m sure most people can remember their parents telling them to turn off the lights. Turns out that was sound advice. When you leave a room just turn off the lights. Easy to do and it quickly becomes second nature.
Number 25. Unplug
Similar to turning off the lights, unplug chargers not in use. Once you’ve charged your phone, computer, or tablet–just unplug the charger. If it’s not convenient to unplug everything, unplug whatever you can. Some is better than none.
Number 26. Get Solar
If your roof gets enough sunlight and you live in an area where solar is relatively inexpensive, get solar installed to save money in 2022. Solar can take those multi-hundred dollar electric bills in the summer and turn them to zero, or pretty close to it. I had solar installed a couple years ago and the return was immediate.
Number 27. Insulate
Adding a little extra insulation keeps your home cooler in the summer and warmer in the winter. This helps immensely with heating and cooling bills. Get some bids–and if it’s cost effective, add some extra insulation.
Number 28. Open Windows and Doors in the Summer Mornings
Before it gets hot, open the windows in the summer. I’ve been doing this for years and it keeps the house cooler for at least a couple more hours. It’s not a perfect solution to reducing cooling bills, but it does help a great deal.
Number 29. Close Windows and Doors in the Winter
Opposite to the last tip–close windows during the winter. Keep the cold air out and the warm air in. Even having the windows, doors, or sliders open for a few minutes in the cold months creates a draft and much colder temps. Easy to do, and common sense for most people.
Number 30. Shades Down in Summer, Up in Winter
Keeping the shades down when the sun is angling into the house keeps temps much cooler. And keeping the shades up when the sun is angling into the house in the winter warms up the house. Do both to reduce heating and cooling costs in their respective seasons.
Number 31. Adjust the Thermostat or Use a Programmable Thermostat
Especially if you’re not home or sleeping, adjust the thermostat. No need to have the AC at its lowest temperature when you are not home. And when you’re sleeping, keep the temps lower to reduce heating costs. A programmable thermostat really helps because you can pre-set everything and not have to worry about it for months at a time.
Number 32. Turn off the TV
An easy way to save money in 2022 is to turn off the TV when you’re not watching. So many of us, myself included, mindlessly have the TV on when we’re home. There’s really no reason to have it on, it’s just out of habit mostly.
Number 33. Watch YouTube Videos for DIY Repairs
I’ll admit it–I’m not very handy. But now and then I’ll tackle an easy repair or fix. YouTube has thousands of videos with step by step directions on how to fix anything. From a simple project like resetting the garbage disposal to a more complicated project like installing a toilet–videos are available for almost anything.
Category 3: Transportation
Number 34. Use One Car When Possible
If you can become a one-car household, it will save a lot of money in 2022. This isn’t possible for everyone, but if one person works at home, is a stay at home parent, or can take public transportation–there’s a great opportunity to save money.
I detailed the costs of car ownership in great detail in my book Cash Uncomplicated. The costs are even higher than I originally anticipated when doing my research for the book.
Number 35. Walk or Bike for Short Trips
If you live close to the store, try biking instead of taking the car. This probably isn’t feasible for a big trip to the grocery store but if you’re just getting small items, it’s doable. Walk or bike to not only save the fuel costs, but to get out for some easy exercise.
Number 36. Drive Slower
I’m not suggesting driving 45 miles per hour on the freeway, but slow it down a little bit to optimize fuel costs. For more tips on getting better fuel economy, check out fueleconomy.gov.
Number 37. Keep Tires Inflated
Especially with sky-high gas prices, keeping tires inflated is one small thing anyone can do to save money in 2022. Many tire stores will even fill your tires up for you without you having to get out of the vehicle.
Number 38. Buy Quality, Inexpensive Gas
Find a quality local gas station with inexpensive gas and make it a habit to fill up regularly there. Of course you won’t always be able to utilize the same gas station, but should be able to most of the time.
Number 39. Combine Car Trips
If you’re out and about, combine car trips to save money. Many stores are right by each other so it’s easy go to from store to store without having to go home first.
Number 40. Buy an Electric or Hybrid Vehicle
This is hardly a simple tip, but something to consider for your next car purchase. Look at the costs of buying electric or hybrid versus traditional gas vehicles. It might cost more upfront but over the course of three or four years, the cost of ownership will become much less expensive because of fuel costs alone. Compare costs to see if the numbers work for your situation.
Category 4: Travel and Entertainment
Number 41. Travel Off-Season
If you’re able to, traveling off-season can save tremendous amounts on travel. This works especially well for retired people and those with flexible work schedules.
Number 42. Camp a Couple Nights
Rather than stay in an expensive hotel, try camping for a few nights. My wife and I used to camp multiple nights in a row. Since having kids, we’ve adjusted that to a couple nights camping, a couple nights in a hotel. You get to wake up in the great outdoors and be closer to nature.
Number 43. Stay Outside Tourist Areas
For some trips, you’re probably going to want to stay in tourist areas. For other trips, it’s not going to matter as much. If it’s just the same to you, stay outside tourist areas to save money. Hotels, restaurants, and attractions are frequently much less.
Note: It’s important to see the forest for the trees. If there’s an attraction you want to see or an area you want to stay, don’t miss out just to save money. This tip is only effective when staying outside a tourist area doesn’t matter to you.
Number 44. Be Flexible with Travel Dates
Oftentimes leaving just a day earlier or later can make a big difference in price. I’ve had really good luck getting lower cost airfare in the middle of the week. So if you’re flexible on travel dates, take advantage of the lower airfare opportunities.
Number 45. Watch Ticket Prices
Tip number 45 on how to save money in 2022 relates especially to event tickets like concerts, sports, and theater productions. Keep an eye on ticket prices because they often go down closer to the event. If there’s high inventory, they likely will go down closer to the event.
However, if there’s low inventory, prices are likely to remain the same or rise closer to the event. Keep a close watch and buy when it makes sense.
Number 46. Find Lodging Alternatives
Oftentimes comparable hotels in the same area of town are vastly different in price. Explore all lodging options and don’t settle for the first one you see. Airbnb and Vrbo are also really good options, depending on where you are staying.
Number 47. Use Credit Cards to Buy Trips
Many personal finance experts tell you not to have a credit card. My stance is if you’re using your credit card responsibly, you can actually use it to your advantage. I’ve purchased multiple plane trips using my airline miles. Over the years I’ve probably saved a few thousand dollars. If you want to get really advanced in using credit cards to pay for trips, try travel hacking.
Category 5: Housing
Number 48. House Hack
House hacking is finding ways to save money on housing. It can take a variety of forms, including, but not limited to:
- Renting out rooms to long term tenants
- Buying a duplex or triplex–living in one unit and renting out the others
- Listing your house on a vacation rental platform when you’re out of town
Recommended Reading: The House Hacking Strategy
Number 49. Get Roommates
If you’ve got a three or four-bedroom house, try getting roommates to reduce the cost of living. As a quick example, if your mortgage is $3,000 and you rent out 2 rooms at $1,000 each, your housing costs are reduced by $2,000!
Number 50. Negotiate Rent
Landlords want good tenants. If you’ve been a good tenant, try negotiating your rent during the next increase. It might be worth it for your landlord to keep you at your current rent than them trying to get another tenant. Negotiation also sometimes works when signing a new lease if you’re a well-qualified candidate.
Number 51. Get Lowest Interest Rate Possible
Interest rates are rising but they are still historically low. Once you lock in your rate, you’re set for the terms of the loan. To illustrate the savings, I’ll compare a $500,000 loan with three different interest rates:
- Four percent interest rate monthly payment: $2,387
- Five percent interest rate monthly payment: $2,684
- Six percent interest rate monthly payment: $2,998
*Note: Principal and interest only (doesn’t include property tax, insurance, etc.)
Number 52. Short-Term Rentals
There are plenty of options to save money in 2022 using short-term rental platforms like Airbnb and Vrbo. To name just a few:
- Rent out spare room(s) nightly
- Whole house whenever you’re out of town
- Spare rooms on the weekends
- Entire house when there are local big events
Number 53. Geoarbitrage
Geoarbitrage is living somewhere less expensive while keeping your same income. This works especially well for people who have the ability to work remotely or for retired people with passive streams of income. Geoarbitrage can be moving to a less expensive part of the city, state, country, or even out of the country.
Number 54. Carefully Think About Where You Want to Live
There are a lot of living options. If you’re trying to save money, think about different areas of town or the country where you can live and still keep your same standard of living. Instead of living downtown, maybe a couple miles outside the city would meet your needs. Or instead of living in an expensive state, another part of the country might also fill your needs.
Category 6: General Principles
Number 55. Value-based Spending
To save money in 2022, or any other year for that matter, value-based spending is a principle that always applies. Value-based spending is spending on things and experiences you really want, and avoiding the other things.
Everything you spend money on is either because it’s something you value or it’s a necessity. There’s no trying to impress others or show how much wealth you have.
Number 56. Optimize Credit Card
If you’re going to use a credit card, make sure there are some types of rewards. Whether it’s cash back or airline miles, make sure they are offering you some perk. Credit cards want your business and they’ll offer incentives to get it. As always with credit cards, make sure the balance is paid off each month. Carrying a balance and paying interest kind of defeats the purpose.
Number 57. Take a Savings Challenge
An interesting and fun way to boost your personal finances is to take a savings challenge. Set a short-term goal and devote yourself to reaching that goal for the month. Common savings challenges I’ve seen people participate in:
- No dining out for the month
- Eliminate alcohol for one month
- Cook meals at home for one-week straight
Number 58. Carefully Review Credit Card
With most people electing to get their credit card statements online, it’s easy to overlook monthly costs. At the end of each billing statement, carefully review what you spent on for the month. This will allow you to catch any errors, and also identify any wasteful purchases that don’t align with your values.
Number 59. Buy in Bulk
This applies anywhere–grocery store, box retail stores, warehouses, etc. Buy in bulk whenever you can and store it at home. For example, items like paper towels, toilet paper, and cleaning supplies can all be purchased in bulk and stored at home. This is much more cost effective than running out to the store to restock in small quantities.
Number 60. Track Expenses
Writing down expenses is a very powerful exercise. Pen to paper has a way of making things real. It might feel good to buy a certain product but when you write it down, you realize you really didn’t need it or want it. If you don’t want to use pen to paper, try an app like Mint, which connects directly to your bank accounts and credit cards.
Number 61. Sell or Donate Things You Don’t Use or Want Anymore
If you don’t use it or want it–sell or donate it. We all have a tendency to put things we don’t use anymore in a closet, the garage, or attic. Thinking that someday we’ll use it again. The reality is we’re not going to use it again and it just creates clutter. And even worse, some even buy storage space to store the things they’ll never use again.
Number 62. Take Advantage of Easy Fixes
Disclaimer for this tip: I am not handy. However, there are things even non-handy people like myself can do. If it’s an easy household or car fix, try doing it on your own. Watch a YouTube video or ask a friend and see if it’s something you can do. If you can’t, no worries–that’s when it’s time to hire it out.
Number 63. Avoid Convenience Stores
Convenience stores charge a premium because quite simply, they are convenient and easy. Sure, now and then you need one item and it makes sense to go to the convenience store. To save money in 2022 though, just don’t make it a habit. Get as much shopping done as you can in advance and be intentional about it.
Number 64. Buy High Quality Items
Spend money to save money in 2022? Yes! Buying high quality items can cost more upfront but frequently saves money in the end. Think about a high quality t-shirt that costs 15 dollars upfront versus a low quality t-shirt that costs eight dollars.
The high quality t-shirt last five years while the low quality shirt lasts a year and a half before getting a hole in it. Over the course of a five-year period, the high quality item actually ends up costing less because you only have to buy one.
Conclusion
There are so many ways to save money in 2022. This list is just the tip of the iceberg. Saving money doesn’t have to be a burden or cumbersome either. Most of the items on this list are easy to do and require very minimal effort or time.
Don’t try to do everything at once though. Pick a few and find some success. Then add a few more, and a few more after that. After a while, the results will start to compound and you’ll be saving good money.
How can you save money in 2022?
