The Sheaff Brock Institutional Guide

If you’ve read any financial advice in the past year or so, you’ll probably have heard something along the lines of ‘start saving money. Money is not easy to come by these days, especially if you have student loan repayments, car payments, and other costs to contend with on top of your everyday living expenses. But that doesn’t mean there aren’t ways to save money so you have more cash at the end of each month.

The Sheaff Brock Guide to Making Money has some great advice for anyone looking to save more money in 2022. It doesn’t matter how much you earn or how much debt you have because everyone can make small changes to their spending habits which will add up over time.

Make a budget

If you want to save more money, you have to make a budget. This is one of the most important steps you can take toward saving more money. Making a budget will help you realize where your money is going, and it will make it easier to prioritize savings.

When you make a budget, you’ll have a better idea of how much money you have to spend in each category every month. You’ll also be able to see how much money you’re bringing in each month so you can plan accordingly. There are tons of free budgeting apps and websites to help you get started—one of our favorites is Mint.

Cancel your subscriptions

Any time you sign up for a subscription service, make sure you’re aware of how much money you’re committing to each month. Cancel any subscriptions you don’t absolutely need. If you’re a member of a gym, for example, that’s great.

But if you’re paying for Netflix or magazines you don’t really have time to read, you’re wasting money each month. You may even be paying for subscriptions you aren’t aware of.

A lot of credit card companies offer subscription services as a perk—if you’re not careful, you could fall into the trap of automatically signing up for things you don’t need. Pay attention to your monthly bills so you can avoid accidentally signing up for subscriptions you don’t want.

Pay off your debt

If you have any debt with interest, this should be your first priority. After you’ve made sure you’re saving money, make sure you’re paying off your debt. Debt should always be prioritized before saving money. If you have a lot of debt, you’ll probably be paying a high-interest rate.

This means that you’re actually losing money each month on the interest alone.If you have a car loan, student loan, or personal loan, the best thing you can do is to make more than the minimum payment each month. That way, you’ll have the debt paid off sooner. If you have credit card debt, though, you’ll want to focus on paying that off first.

Take care of your car

If you drive a car, one of the best ways you can save money is by taking care of your vehicle. Make sure you’re getting your car serviced regularly, and get your oil changed when the manufacturer recommends it. If you have an old car, consider trading it in for something newer.

This can cost a lot of money, but it will save you money in the long run. If you live in a city with public transportation, consider getting a pass. This will save you money on gas, and if you carpool, it could actually save you money on insurance.

Shop smart

If you have a certain item you’ve been thinking about buying, consider waiting a month before you actually buy it. If you’re still thinking about it a month later, then it’s probably worth purchasing. If you’re shopping online, use an extension like the one available on Google Chrome.

This will help you realize how much you’ve actually spent online, which is often an area where people overspend. If you’re looking to save money, you may want to rethink your energy company. Shop around to see which energy company offers the best rates in your area.

Conclusion

If you want to save money, there are a number of things you can do. Start by making a budget so you know how much money you have to spend each month. Take care of your car and shop around for the best energy company to use. Finally, if you want to save money, you have to make sacrifices. There's no easy way around it: if you want to save money, you have to stop spending it!