Good Finance’s great guide to saving money
This is how you can save money and get a better personal finance.
Firstly, we show you how to save money by reducing your costs. On the one hand, you get tips on how you can save the money you get over for the future.
Save money by reducing your costs
- If you have many different loans and credits, you can save money by collecting everything into a new loan. Then you usually get lower interest rates and fewer papers to keep organized.
- You can also reduce your costs by comparing mortgages. A suitable opportunity to do this is when the mortgage rebate for your original loan expires. Compare mortgages for free here.
- Collecting their insurance in a company can also be a way to save money through reduced insurance premiums.
- If you want to buy capital goods or maybe a holiday trip, you can save money by saving first and then shopping. It is always cheaper to buy something for your own money than with borrowed.
- Compare electricity companies. But do not fall for the promises of the first best phone vendors. If you want to save money, then it is important to find out which supplier is really the cheapest overall.
- Clean up your finances every now and then. Many small expenses such as telephone subscriptions, newspaper subscriptions and network services together become significant amounts. Save money by making sure you have the most advantageous deals and by canceling things you no longer need or use.
- Save money by making a budget. If you do not have control over your expenses, it will easily happen that they are larger than your income.
As a conscious consumer, you can save thousands of dollars each month just by collecting your private loans. See calculation examples here.
To save their money
If you get money over, it’s a good idea to save for future expenses or to have a secure buffer.
If you want to save for something special like a purchase or a trip, it is important to start by thinking about what you really want to prioritize.
Then set a clear goal for how much you want to save for and how long it will take. Then, calculate how much you need to save each month to reach your goal. Prefer not to borrow money for things that lose their value or are consumed quickly. Keep the motivation up by celebrating achieved sub-goals at regular intervals. Read more on our page on how you can achieve your goals with a smart savings plan.
Here are some ways you can use to save
- Get a savings account. If you want to save money, it is a good idea to have them in a separate account, which you do not use to pay everyday expenses.
- Make an automatic monthly transfer to your savings account. That way you can save without even having to think about it.
- Save in your accommodation. The value can not in itself be known until it is time to sell. But in the last few decades, housing has been a good investment.
- Fund savings allow you to choose a risk profile. If you want to make it easy to save, you can choose an investment savings account. Or you invest directly and pay taxes on the entire profit from the sale.
- Save to the pension. It is becoming increasingly important that you start saving for your pension yourself, for a safe old age. For most, such savings are made through the occupational pension. It is also possible to take private pension insurance. For best savings, compare fees and tax terms.
- The financial world also offers a large number of different instruments for investment and savings. Here it is entirely up to your own judgment. But the rule of thumb is, as always, that if something sounds too good to be true, then it’s probably too good to be true.