Five quick money tips for 2022

According to a recent study, “More than one-third of the gender gap in financial literacy can be attributed to confidence, instead of a true gap in knowledge” As a result, it’s important that we seek to empower those around us by showing that financial success is something we can work towards.

Whether you are trying to get a business up and running, pay for a holiday, or simply grow your savings – here are some tips you can use to add some digits to your bank account in 2022. 

• Entering the world of investing and trading can seem a little scary. However, when done correctly, it can be a great way to boost your finances and improve your financial literacy. For example, Forex trading is a great place to start as not only is it beginner-friendly, it’s also the biggest financial market in the world – potentially giving you plenty of earning potential.

• Budgeting can be tricky, but it’s a great way to ensure that you are spending your money wisely. Set yourself a weekly allowance for things such as groceries, travel, and entertainment and dont go over it without good reason. If you find it hard to stick to a budget on your own (or seem to spend money without realizing it), then try downloading a budgeting app onto your phone.  

• If you intend to fund your own business, remember that not all of the money has to come out of your own pocket. You could launch a crowdfunding campaign or find out if you are eligible for any social enterprise grants. 

• Set up a separate savings account and transfer a small amount of money to this account each week or month. Using a separate account for your savings means you are less likely to spend this money accidentally. Many savings accounts offer a great interest rate so that you are able to earn more money without any effort on your behalf. Ideally, you should aim to place around 10% of your monthly income into a savings account, or use these funds to pay off any outstanding debts, such as taxes or student loans. By slowly making all necessary repayments, you’ll find that your finances will improve tremendously.  

• Whether you are working as a freelancer or as part of an established company, it’s important that you know your worth when it comes to your salary. Don’t be afraid to renegotiate your salary with your employer – especially if you feel as though your pay grade does not match your efforts and contributions. Before entering this conversation, do some research on how much your people with your role are paid in other companies so that you can use this to leverage a better deal for yourself.