How to Save your Money in 2022


If you’re wondering what you can do to start saving money, try the tips below.

Setting a savings goal

When saving money, you should set specific goals. For example, saving for a large/small business plan; save for debt repayment, save for emergencies.

If you do not have a clear goal when saving money, the plan will be difficult to be implemented continuously, even lose motivation to save when something goes wrong.

After budgeting for each expense, try to put 10-15% of your income into savings. If your spending is so much that it doesn’t save much, cut back. To do so, identify unnecessary expenses you can cut down on, such as entertainment or eating out. At the same time, you need to consider reducing frequent items such as food and forming a savings habit.

Allocate finances by dividing money into each basket

Putting money in each basket is a way to help you spend wisely and have a savings.

The first basket is the fixed monthly expenses: food, electricity, water, living, car… Usually the amount put into this basket is 50% of your total income for the month.

The second basket is for personal enjoyment, which accounts for 10-15% of income. For example, money for movies, coffee, clothes, shoes…

The third basket is the unemployment reserve. No one knows in advance that I will be unemployed in the near future. So save money from today. The amount put into this basket is about 15% of your total income.

The fourth basket is long-term/short-term savings with a goal. For example, you can deduct 15% of your total income to deposit in the bank, invest in stocks, real estate…

Only moderate withdrawals in the account

Another experience when saving money is to only withdraw enough money in ATM cards, credit cards. Because if you have a lot of cash, it will be difficult for you to control spending.

Save money from the smallest things

“Accumulating small to great” is a lesson that is always true in all times. Right now, let’s start from the smallest things such as: turn off the lights when not in use, work hard to cook at home instead of going to the restaurant, use your membership card, and accumulate points for more incentives. …

Statistics and elimination of unreasonable expenditures

The detailed statistics of spending, especially the inappropriate ones is also a way to save costs. This becomes even truer for those who are married and raise children.

Normally, a month you have to pay fixed amounts such as: the amounts in the month you need to spend include:

Food, living expenses, electricity and water…

Gasoline for transportation.

House rent (if you have to rent)

Money to buy necessary items.

There are also expenses incurred: weddings, visiting sick people, birthdays, parties…

Follow the 24 hour rule

Many times we shop for emotion, not necessity. To cut costs you don’t really need, you should stick to the 24-hour rule. Please wait a day before buying. Emotions will calm down and you may eventually realize if you want the item. Once you apply this rule, you’ll be surprised at how much furniture is avoided.

Apply the 50-30-20 Rule

World-renowned financial advisor Sallie L. Krawcheck offers very useful advice for those who want to learn how to manage their spending, including setting aside 50% of your earnings for necessities (electricity, water, rent, necessities, food, transportation, etc.), 30% for things you “want” (things that make you happy like traveling, watching movies, etc.), and 20% for giving you in the future (saving, investing or paying off debt).

This rule may not be easy to achieve, but you can change it up a bit to suit your life.


Try adding up your expenses in a month to see if it’s really equal to or greater than your budget. If you exceed your limit, find what is really unnecessary and limit it. Because if you don’t spend properly, you can’t save your idle finances.

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About the Author: Nicole Ann Pore

Nicole Ann Pore is a writer, an events host and a voice over artist. Travel, health, shopping, lifestyle and business are among the many subjects she writes about. Through quality and well-researched writing, she informs and even entertains readers about things that matter. She is also interested in film critiquing and filmmaking. Giving all the glory to God, Nicole graduated Cum Laude from De La Salle University Manila, Philippines with a Bachelor’s Degree in Communication Arts.