Saving money often means cutting back on the things you love – but the Marketing Director has proven that’s not the case.
Queenie Tan, from Sydney, revealed the simple tweaks you can make that could save you an extra $7,000 in 2022.
Watch the video above: How do I save a Queenie a home deposit
The 25-year-old — who went from $13,000 in debt to a net worth of $500,000 in five years — shared an infographic showing exactly where you can make small changes without sacrificing your lifestyle.
Her tips include preparing your own lunches, selling unwanted items, and switching from a “underperforming” box.
We’re all guilty of buying lunch at work, but this daily habit can be costly in the long run.
Queenie said that by packing your lunch to work every day, you could save an additional $2,400 by the end of the year.
Whether you’re saving for a big vacation or simply trying to cut back on spending, one of the best ways to earn some extra cash is to sell unwanted items around your house.
By selling items like clothes, kitchen utensils or furniture you no longer need, Queenie said you can buy up to $1,000.
“Sometimes it’s hard to let go. But once you do that, you can unlock amazing amounts of money, especially things like old technology, it really adds up,” said Queenie.
It’s all too easy to get stuck on an electric, phone, and internet plan for convenience – but you could miss out on cheaper deals elsewhere.
By switching providers, you can save up to $900, Queenie said.
Taking advantage of credit card rewards like the frequent flyer program can help you save up to $900 – depending on your spending.
Using energy-efficient appliances like washing machines, dryers, or the TV can cut your electric bill by $200.
Other simple ways to save include keeping your money in a high-interest savings account and using cashback apps.
To ensure she gets the money she deserves, Queenie said she avoids buying fast fashion and a cheap coffee machine.
“I cut my budget on trendy clothes that I probably won’t be wearing in a few months. I usually buy timeless clothes that are of better quality and good value for money.”
“Buying a cheap machine means I won’t use it and it makes me buy coffee anyway. Buying a quality machine means higher cost but I use it all the time.”
Last month, I told Queenie 7 lifestyle There have been easy adjustments to lower your living expenses so you can save more money without drastically changing your lifestyle.
“I think it’s really about saving money on things that can save the same thing but at a cheaper price,” she said. 7 lifestyle.
She said “small savings” could start with loans for electricity, insurance, phone, internet and real estate.
“These are easy trade-offs that 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 – has been getting smarter with her money from a young age.
Queenie, who was raised by a single father after her parents divorced when she was a child, said her father quit his job to take care of her full time.
“My dad had passive income to pay for our lifestyle,” she said, “but it certainly wasn’t a flashy lifestyle.”
“I grew up in an ordinary neighborhood. I went to public schools. We had no income to spend on “fun” things. But my father always had time for me and instilled big money lessons.”
As a teenager, she got a job ASAP so she could become independent.
“I hated asking for money from my father because I saw how much it meant to him,” she said.
“I got out of the house when I was 19. That’s when I was really struggling to make ends meet, so I started learning how to build wealth.
“I realized my dad had some great points about being frugal but I wanted balance so I could still spend money on fun things to enjoy my life.”