How to Save More Money in 2022

These tips could help you boost your savings in a big way.

Maybe your goal is to boost your savings to the point where you have a fully loaded emergency fund in 2022. Or maybe you're all set for emergencies and want to save up for a big vacation. If you're eager to see your savings account balance grow in the new year, here are four key moves that could help you achieve that goal.

1. Follow a budget

When you stick to a budget, it's easier to track what you're spending on various expenses. And it's also easier to see if you're going overboard in a particular category. If you set up a budget for 2022, you may find that you have an easier time meeting savings goals.

Check out these budgeting apps that can help you get a better handle on your finances. Or if you'd rather stick to a budget you create using a spreadsheet, that's fine, too.

2. Get a side hustle

You're no doubt aware that cutting back on expenses is a great way to boost your savings. It's also not an easy thing to do. You don't want to deprive yourself of too many fun things, like takeout meals and entertainment. And you may already be living pretty frugally, leaving you with few expenses to trim.

Instead of slashing expenses to grow your savings, try boosting your income with a side hustle. There's a host of gigs you can choose from depending on your skills, schedule, and savings goals. Think about the amount of money you want to earn and the number of free hours you have each week, and let that help you narrow down your choices.

3. Pay off credit card debt

Carrying a credit card balance means spending money on interest. Paying that balance off means not just shedding debt but not having interest rack up against you. If you're not throwing money away on interest, you can use it to pad your savings instead.

You may need to stick to a budget and get a side hustle to make it possible to pay off your debt. But once you've freed up some cash to do so, aim to pay off your credit cards in the order of highest interest rate to lowest. Or, see if you qualify to consolidate your debt with a balance transfer.

4. Refinance your mortgage

The less money you spend on your mortgage, the more you might be able to stick in the bank. Refinancing could be your ticket to a lower mortgage payment every month.

Of course, you'll need to make sure refinancing makes sense before going this route. If you have a great credit score (which makes you likely to qualify for an attractive interest rate on your new home loan) and plan to stay in your home for a while, then refinancing could be a good bet. But if your credit score needs some work and you might move within a year, you may want to take other steps to boost your savings and hold off on refinancing.

Many people have the goal of saving more money in 2022. If that's high on your list, follow these tips to make it easier to boost your savings -- and enjoy the freedom of having that financial cushion.