A 25-year-old marketing manager with a net worth of more than $450k has shared the simple tweaks you can make that will save you thousands every year and millions by the time you retire.

Queenie Tan, from Sydney, said her financial success gradually accumulated after she started researching and investing when she was 19. 

Queenie now has a diverse financial portfolio after purchasing her first property in 2019 worth $500,000 with a $100,000 deposit. 

The 25-year-old recently shared a graphic that shows how two 25-year-old women earning $5,000 a month could end up with completely different figures by the time they are 65 years old – and it all comes down to how and where you’re saving. 

‘Small savings really do add up,’ Queenie told FEMAIL. 

‘The differences between Emma and Emily in this graphic might not look like much, but making tweaks like eating at home mostly instead of always eating out and living in a modest area instead of somewhere fancy mean the difference between being able to invest $800 per month, instead of $100.’

While Emma ends up with just $349,101 after investing $100 a month between age 25 and 64, Emily ends up with $2,792,806 after investing $800. 

Queenie shared the simple tips she recommends to people who want to pocket an extra $10,000 per year.

‘Saving an extra $10,000 in one year sounds like a big goal that is unattainable, but when you break it down into smaller increments it can suddenly seem a lot more achievable,’ she said.

‘Monthly, $10,000 is $833.34, weekly it’s $192.31 and daily it’s just $27.40. 

‘Give yourself a “why” of how you want to achieve this, and then check back in with your goal regularly to check you’re on track.’

1. Check your internet, electricity and phone are competitive

The first way you can save extra money is by checking your internet, electricity and phone bills are competitive. 

INTERNET = SAVE $240 PER YEAR 

‘The average NBN for 20mbps/50mbps is $80 per month, whereas the cheaper NBN plans average just $60 per month,’ Queenie said.

‘By switching to the cheaper plan you can save an extra $240 per year.’

ELECTRICITY = SAVE $600 PER YEAR

The second way in which you can save is by looking at your electricity provider.

‘The average household consumes 15,000kWh of electricity per year according to Red Energy,’ Queenie said.

‘The average cost for NSW electricity is $0.25, so this would cost $3,750.’

However, by reducing it to just $0.21/kWh, this would only cost you $3,150 and you could save an extra $600 per year.

PHONE = SAVE $99 PER YEAR

Finally, with general expenses, Queenie said you need to look at your phone bill:

‘The average Australian spends $36.25 per month for a post-paid SIM-only plan,’ Queenie said.

‘But there are some mobile phone providers who have plans for just $28 per month, and that’s a potential saving of $99 per year.’ 

2. Look at where you’re living

Potential saving = $9,600 per year 

While it might be nice to live in a fancier suburb or entireblogs area, Queenie said that in the long term it can be a much better idea to live somewhere cheaper and save that cash for later.

‘The monthly rent for a 480sqft furnished studio in an expensive area is $2,620, whereas for the same size in a normal area it’s just $1,813,’ she said.

‘That’s a potential saving of $800 per month, or $9,600 per year and you haven’t even had to do anything.’

3. Eat out less

Potential saving = $2,080 per year

Finally, Queenie revealed you can make big savings if you’re prepared to eat out slightly less.

The 25-year-old is a big fan of meal prepping and religiously brought her lunch to work when she was working in an office.

‘Eating out five times a week with a $20 cost per meal is equivalent to $5,200 per year,’ Queenie said

‘Whereas eating out three times a week with a $20 cost per meal is just $3,120 per year – saving you $2,080 in 12 months.’  

For more information about Queenie Tan, you can visit her Instagram page .