Saving money often means cutting back on the things you love — but a marketer has proven that doesn’t have to be the case.
Queenie Tan from Sydney has revealed the simple changes you can make that could save you $7,000 in 2022.
WATCH THE VIDEO ABOVE: How Queenie saved up for a door-to-door deposit
The 25-year-old – who went from $13,000 debt to $500,000 net worth in five years – shared a graph showing exactly where you can make small changes without sacrificing your lifestyle.
His tips include cooking your own lunches, selling junk items, and switching from an “underperforming” super fund.
We’re all guilty of buying lunch at work, but this daily habit can be costly in the long run.
Queenie said that by making your own lunch at work every day, you could save $2,400 by the end of the year.
Whether you’re saving up for a big vacation or just trying to cut back on expenses, one of the best ways to make extra money is to sell unwanted items in your home.
“You can unlock incredible amounts of money if you sell unwanted things like old technology, they really add up” – Queenie Tan
By selling items like clothes, kitchen gadgets or furniture you no longer need, Queenie said you can pocket up to $1,000.
“Sometimes it’s hard to let go. But once you do, you can unlock incredible amounts of money, especially things like old technology, they really add up,” Queenie said.
It’s all too easy to get stuck on power, phone and internet plans for convenience – but you might miss out on cheaper deals elsewhere.
Queenie said switching providers can save you up to $900.
Taking advantage of credit card rewards like frequent flyers can help you save up to $900 – depending on your spending.
Using energy-efficient appliances like washing machines, dryers, or televisions can cut your electricity bill by $200.
Other easy ways to save include keeping your money in a high-interest savings account and using cashback apps.
To make sure she gets her money’s worth, Queenie said she avoids buying fast fashion and a cheap coffee machine.
“I cut some trendy clothes from my budget that I probably won’t be wearing in a few months. I usually buy timeless clothes that are higher quality and good value for money,” she said.
“Buying a cheap machine means I won’t use it and it forces me to buy coffee anyway. Buying a quality machine means more money but I use it all the time at home.
Last month Queenie said 7Lifestyle how you can reduce your living expenses to save more money without drastically changing your lifestyle.
“I think it’s really about saving money on things that can provide the same thing but for less,” she said. 7Lifestyle.
She said the “little savings” can start with your electricity, insurance, phone, internet and home loans.
“These are easy trades we can make that don’t affect our way of life too much and can save us thousands of dollars every year,” she explained.
Queenie – who shares her journey to financial freedom on social media – started getting smarter with her money from a young age.
Raised by a single father after her parents divorced when she was a baby, Queenie said her father quit his job to care for her full-time.
“Dad had passive income to pay for our lifestyle, but it definitely wasn’t a flashy lifestyle,” she said.
“I grew up in an average neighborhood. I went to public schools. We had no disposable income to spend on “fun” things. But my dad always had time for me and taught me good money lessons.
As a teenager, she found a job as soon as she could to be independent.
“I hated asking my dad for money because I saw how much it meant to him,” she said.
“I left home when I was 19. That’s when I really struggled to make ends meet, so I started learning how to build wealth.
“I realized my dad had a good point about frugality, but I wanted balance so I could still spend money on fun things to enjoy my life.”