Six good money habits to take into 2022

Are bad money habits standing between you and your goals? Do you struggle to save money each month or lose track of your spending? If your answer to these questions is yes, then it might be time to start changing your habits and making your money work for you. We’ve rounded up the six best money habits to help you stay on top of your finances and reach your financial goals this year!


Create a budget

The best place to start when you’re looking to be smarter with your money is creating a budget. To put it simply, a budget is a way of keeping an eye on your money so that you can achieve your goals without spending more than you earn. One of the first things you’ll need to do is work out your take-home income (also known as ‘net’ income) and your expenses for each month. From this point, you’ll be able to work out how much you can realistically save and if you can afford any small luxuries. If you’re unsure on how to begin, Money Helper has created an online budget planner to help get you started!

Set financial goals

To reach any destination, you have to know where you’re going. The same goes when it comes to your financial future. Whether you want to pay off outstanding debts, save money for your first home, or even save for a rainy day, having a goal in mind and a plan to get there well help you see the bigger picture. This means paying attention to the smaller expenses, and asking yourself ‘do I really need this £4 coffee?’  Breaking your money goals down into smaller steps will make everything seem more manageable and keep you motivated.

Track your spending and progress

Jot down all your expenses – that means every single one! Each coffee, meal out, quick trip to the shops and subscription. Tracking your spending is vital to good money management and will ensure you stick to your budget and keep your eye on the prize! Checking in each month to see how you’re progressing with your savings will help you realise how much you have already accomplished and where you need to make adjustments.



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There you have it, six money habits that you can try this year. It’s important to remember that these things take time, but by taking small steps and tackling one habit at a time, you’ll be well on your way to success!

If you’re looking for more information and guidance, then head over to the Money Management page on our website and if you need someone to talk to, find out how you can contact us.


Look for the best deal

It’s important to check the price that you are currently paying for your phone bill, broadband or your car insurance, and take the time to search around for a better deal. If you find a cheaper price with an alternative supplier, you can ask your current supplier what the best price they can offer is and if they can match it. Price comparison websites such as Money Supermarket and are also super handy, and will compare all the deals available, helping you to find the best price possible!

Save before you spend

If you want to grow your savings, the quickest way to do this is to pay yourself first. That means putting a proportion of your income into savings as soon as you get your paycheck, and then living off what’s left. By doing this, you make saving money a priority, and once it’s in a separate account you’ll be less likely to spend it. You can also set up automatic transfers into a separate savings account each week or month to make things a lot easier. Set this up regularly and watch your savings increase without you having to lift a finger!

Have a plan for spare change

As the saying goes, if you look after the pennies the pounds take care of themselves! Why not start putting that change jangling at the bottom of your pocket into a jar? You’ll be surprised how quickly those pounds add up, and at the end of the year you’ll have a little extra money saved and be even closer to your goals! If you prefer to save digitally, there are plenty of apps out there that help you round up any spare change from your everyday purchases.



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