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How Saving Money is Easier Than it Seems in 2022



As we cruise through 2022, prices have been steadily on the rise. Most necessities, real estate, and every other market is seeing increasing rates. Inflation is kicking everyone’s butt, besides maybe the super-rich. Let’s go over some ways to save money that will be so easy, you’ll wish you thought of these ideas sooner. 

How Much is Too Much

To save money, you should start with a better understanding of determining if the product is worth the price. As we stated above, many necessities are on the rise. This means you need to be able to determine what is the best price for the product you need. The best way to do this is to compare prices. Compare products in the store and compare them to what you can get at other stores. 

For example, even in 2022, you can get hand soap for $.99 to $1.25. However, you can get hand soap for $4.99 as well. Maybe the $4.99 is a bit larger, let’s say 12 oz. And the lower-priced soaps are only 10 oz. However, is the extra 2 oz worth over $3.00? The answer is no. You can always get the $4.99 hand soap, but that’s going to make saving money even more difficult. 

You will have to consider your necessities as well. Is getting a haircut every 3 months necessary? We should always take care of ourselves. It’s great for our self-esteem and hygiene. However, you may need to realize that if you’re trying to save money, you can get your haircut every 6 months instead. Some of our favorite things to do sometimes sneak into the “necessity” category. However, when you’re hoping to conserve money, you need to reconsider what you need against what you want. 

Finance Your Larger Purchases

Some larger purchases may be unavoidable. Perhaps you find yourself needing a new large appliance such as a refrigerator or washing machine. If you have saved money for these kinds of emergencies, you may already be equipped to purchase another. However, if you’re looking to keep some of your savings in case of another emergency, or just to save – you may want to consider financing your new purchase. 

With the financing option, you’ll have a smaller down payment. And then you can just focus on your monthly payment. It is convenient if you have solid employment and hope to keep some of that money in your savings account. You can apply this to almost all electronics, appliances, and large equipment. There are even options for buy now pay later cell phones. Need a new laptop? Or possibly you’re looking to purchase a new bass guitar. There are options to finance all of your needs. 

It’s best to look at options like this when you are hoping to save money on your initial purchase. This way you can pay it over time and not have to worry about dropping $300 on a new cell phone or dishwasher. You’ll end up paying the whole price for the item, but it won’t be all at once.

Cut Back on Spending Across the Board

Similar to weighing how much is too much when you’re paying for something, you’ll want to look at your budget overall. A great place to start is with your subscriptions. Americans tend to sign up for monthly subscriptions and then forget about them. There are streaming services, monthly subscription boxes, monthly gym or club memberships, and virtually any other unnecessary monthly charge you can think of. 

Look at your spending for the month, what can you cut? Can you live with just watching Netflix and Hulu only? Do you use your gym membership? Does your dog need a new box of toys and treats every month? Some things will have to be cut if your goal is to save money. It may be difficult to weigh what you use against what you don’t. Even if you use these subscriptions, you may have to cut back on them for a few of those months to save. 

There are about 100 other ways to cut back on excessive spending, but we can’t name them all here. These options are some basic ways of saving funds in 2022. It’s hard for all of us to make a nest egg when prices are on the rise, but it’s not impossible. Holding back on some of the more excessive purchases can get you further than you realize.