12 Budgeting Hacks To Add $12000 to Your Bank Account This Year

Everyone longs to get more prosperous each year through a promotion or a significant hit with a side hustle. However, in reality, the quickest way to get rich is and make that extra money is through useful budgeting hacks.

That is, find the extra cash you desire in your current budget. When you are thinking of how to get rich quickly, you must realize that the money you are after is already a part of your budget and is probably being misspent.

When you make these changes, it helps you to focus on the long process of building a successful business that can increase your income. This article contains some budgeting hacks that will help you to add over $12,000 to your bank account within a year.

These tips have been carefully chosen based on research and careful consideration.



Read Also: Personal Budget Categories to Start Your Budget

These are all just simple, budgeting hacks to help you make everyday changes to your lifestyle now. It does not include any crazy money-making schemes or get-quick-rich programs. It is all just practical budgeting hacks that can make a difference.


1. Make a Budget Every Month


Every new month comes with new expenses and circumstances. This is why this making a monthly budget is first on our list of budgeting hacks to help you add $12,000 to your account. It is essential and necessary to create a new budget every single month of the year.

To create a new budget, you can use the previous month’s budget as a working model.

However, your budget must be a realistic one for it to help you. For instance, your expenses in December, including holiday gifts, wrapping paper, baking ingredients, and decorations, will look completely different than those in July, which will include sunscreen, Popsicles, bug spray, Popsicles.

Importantly, you should plan for variable expenses and include them in your budget.


2. Change Phone Plans


On average, phone contracts attract about $36 monthly for 24 months. Even if you get the usual deal of unlimited texts, minutes and 2Gig of data monthly, can you say that you usually go over that data limit?

Besides, do you need unlimited texts when you have Whatsapp and other messaging apps? Very few of us do need these things!

For instance, when my phone contract expired in January, I decided to switch to a free pay-as-you-go sim card and topped it up with $15. Then, I relied on the free wifi that is readily available in every public building these days.

Just by doing this, I was able to save because the $15 lasted about two months.

So, give this a try. With it, you will be able to save hundreds of dollars in the long-term. You will also be able to spend less time on your phone, allowing you to focus on things that matter to you. Besides, a lot of us need to get off our phones more to embrace our world more.

The bottom line is that following this budgeting hack can help you to save up to $400 each year.


3. Empty Your Fridge

Next on our list of budgeting hacks is to empty your fridge. The Natural Resources Defense Council reports that

The average family throws away 25% of the food and drinks it buys. The 25% percent it wastes is estimated to worth over $165. This creates an urgent clamor to stop throwing money away by emptying your fridge.

To do this,  Annette Economides, co-author of Cut Your Grocery Bill in Half With America’s Cheapest Family, advises

being sure to take stock of your pantry and freezer at least once a month. Also, take stock of your fridge about once a week to see what is about to expire.

In doing this, you should place items that are approaching their expiry date in front of the fridge, freezer, or pantry. This is so you will automatically remember it and pick it up first.

As for leftovers, there are tons of recipes online about how you can turn them into something new and delicious. That way, you are getting the best without wasting anything.


4. Brew Your Coffee (and Get a Pot With a Timer)

Generally, occasionally taking small things like coffee will not ruin your budget. However, if you are the type that needs a $5 cup of coffee each morning, then its time to take these budgeting hacks serious, take a chill and make your cup of coffee.

I learned to do this the hard way when, at the end of my first budgeted month, I realized that I had spent $80.77 on coffee on my way to work.

Now, I have a decent Mr. Coffee Coffeemaker with a timer feature. It allows me to take care of myself without biting too hard into my money.

On days when I’m running late, and I am forced to buy a cup of coffee, I am pained because it costs me money and does not contribute to my overall happiness much.


5. Recycle your wardrobe


With the dynamism of fashion, gone are the days when we could get through the year with a black and white dress. Fashion trends now demand that we make additions to our wardrobes every few months, and that can be expensive.

This is why you need to save money by recycling your wardrobe.

Lots of people have begun to embrace converting their old clothes and make them look as good as new. A friend of mine used to cut up her son’s old jeans and turn them into Bermuda shorts.

Another lady used her skills as a seamstress and successfully converted her husband’s old formal dress shirt into a trendy top for herself. Just make an effort not to throw clothes out each time a new trend is making waves.


6. Use DIY cleaning supplies

These days, there is an abundance of choices for cleaning products sitting on laundry shelves in supermarkets. All of the cleaning products come promising to make our home squeaky clean and smelling as fresh as the morning air.

Even though they may deliver on their promises, they also gulp a considerable portion of our wallet over time. This is why the ext on our list of budgeting hacks is using DIY cleaners.

A better and more practical homemade cleaning solution can be made with a bit of vinegar and baking soda. Apart from being cheap, it also limits exposure to harmful toxins in most store-bought cleaning products. This is in addition to having anti-bacterial properties.

This hack might not apply to everyone. However, it is essential for those who want to save more money. To save money on your cleaning products, you must begin to make your homemade cleaning product. Several online recipes teach you how to do this with ingredients that are available to you.


7. Leave Your TV


When I was living in a house (and not out of a backpack!), we used to pay up to £32 monthly as a subscription fee to Virgin TV. Out of the many available channels, I only watched 5 of them at most.

I know that many people are in this shoe. Do you know that you can save a lot of money by using an online entertainment provider like Amazon prime and still enjoy access to more than 15,000 movies and TV episodes for just £79 per year?

Amazon Prime also provides free one day delivery for millions of items online, so you’ll be bagging a bargain not only by cutting the cable but also for when you need to shop online!

Sign up for an Amazon Prime trial today, and you’ll get 30 days completely free. For just £16.88 more (only $10.99/£7.99 a month!), you could sign up for Amazon Prime Video and enjoy:

  • Watching Amazon original productions in HDR from your living room
  • Exclusive hit shows that can only be found on Amazon Prime
  • Unlimited streaming of TV shows and thousands of movies
  • Unlimited Access to content
  • Free 30 day Amazon prime video trial when you sign up.

Total Savings: £305 ($409)


8. Build an emergency fund as quickly as possible

A significant category when creating your budget is your emergency fund. An emergency fund helps you not to have to use your credit card when your budget cannot handle unexpected expenses.

Emergency funds should be built purposefully. It is not advisable to stumble into it. Do not leave contributing to your emergency fund account only when possible. Instead, tax yourself to stay committed to paying into the account.


9. Cut Down On Eating Out

A survey reports that the average American household spends $53.14 on restaurants and hotel bills weekly.

If you do thorough research, you will find that this is not too far from the truth, as a lot of people love to get a quick take-out. Some prefer a chilled Friday night at home. Gradually, the weekly expense begins to add up.

Therefore, next on our budgeting hacks is cutting down on eating out. To do this, you need to limit the number of takeouts you get. You must also reduce the nights out at restaurants to just one week a month.

The way to do this is to start cooking meals that are equally or more delicious than the ones you usually get. Learning to cook your meal from scratch more can help you to save hundreds of dollars a year. If you are consistent, you can even save up to $2174 in a year.


10. Do Garage Sales Monthly

A usually less practiced way to save morning on your budget is by making Bi-Monthly Garage Sales. Not only are garage sales a significant way to make extra cash, but they are also an opportunity to start living minimally.

For those who travel a lot, you can offer the content of your shed or attic up for sale. Then, take them and organize a local garage or boot sales.

That is not to say that you should sell all that you own; instead, it means that you should sell off the cluster of things you no longer need or use. Remember that the fact that you are not using them anymore does not mean others won’t.

On each sale, you might make up to $176.76 and earn a total saving of about $1208 yearly.


11. Start Walking/Cycling to Work


Not only is walking/cycling good for your health and fitness, but it is also perfect for improving your wallet. Even though this option may not apply to everyone, those who try it will see that it is easy when you get into the routine of it.

Mr. Money Moustache calculates that the actual cost of commuting every year is approximately $795. Which is a significant amount of money that could be so much better spent!

You will also be surprised to see that you enjoy that period of walking to and from work. This is because the period affords you time to enjoy your own company and listen to music.

You also get to wake up earlier to get to woke and to unwind and stretch your body after work. The journey would probably take time, but when you’re saving on fuel and burning calories, you will be grateful for that time!

If you try this somewhat healthy budgeting hack, you can gather a total saving of about $795 yearly.


12. Do Online Surveys

Indeed, online surveys will not make you rich because it does take a while to stack up against your winnings on these sites, and you’ll answer a lot of surveys in the process.

However, online surveys are ideal for people that struggle to sit still while relaxing or watching TV in the evenings. Usually, such people need something to do with their hands, and this is where surveys come in.

The reviews do not take a lot of brainpower, and if you can answer a few surveys for an hour daily, you could make a few hundred pounds monthly.

A few popular and well-recommended survey sites that offer cash rewards include Swagbucks, Pinecone Research, and Valued Opinions. You can also try Inbox Dollars (free $5 sign up bonus!)

The estimated earning you can make from online survey sites for each hour every night or month is about $117.78. This accrues up to $1413.30 in a year.




Use the budgeting hacks contained in this article to save money off your monthly budgetary allocations and you will be smiling to the bank. At the end of the year, you are sure to get an estimated $12,000 in your account as you’d have saved more.

Drop a comment below on how these hacks worked for you. You can also add your personal hacks in the comment section.

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