Many people feel uneasy when they look at their account balance at the end of the month, because that’s often when their cash reserves are running low. We tell you how to save more money, so you can check your account balance without worries.
How to save money
How you can save money
Probably everyone has a wish that they would like to fulfill at some point in time. What is often missing is time and the necessary financial reserves. Here you can learn how to plan your time better. Find out how you can save money below.
There are many areas where you can save money. In some cases it’s a small amount, in other cases you can save several hundred euros over months. Small changes hardly seem worthwhile at first glance. However, if you add up the savings over months, the change will have been worth it. It will be even more rewarding if you change many small things. After a year you will notice how your savings add up and you get a financial buffer.
The smallest changes can make a big difference. Your quality of life will not suffer from these changes. When you realize what you can do with your savings, you realize that you can even improve your standard of living. You could, for example:
- Pay off your debts
- Flying on vacation
- Fulfill a long-cherished wish
- Give a gift to your loved ones
Here’s how you can go through life more worry-free, making yourself and your loved ones happy. It will bring you more joy to spend your money on these things than wasting it on nothingness throughout the month. Saving money also makes you live more consciously and rethink your consumption.
Save money in the household& in everyday life
When it comes to budgeting, there are a few things you can keep in mind to save money permanently. Many changes you will not even notice, others will quickly become routine. What you will notice, however, are the positive changes in your wallet.
But only in the household, but also in the normal everyday life you can save some money. If you consider a few very simple things and consume consciously, you can ease the burden on your wallet.
If you want to start saving money, it’s worth looking at your current contracts first and foremost. This includes electricity and gas providers and your DSL tariff. Compare the premium you pay with other offers. If they are cheaper, you should switch providers as soon as possible to avoid losing more money.
On the well-known comparison platform Check24 Find the best tariffs for electricity, gas and Internet. The tariff conclusion is on-line possible and takes only few minutes, the saving potential is opposite enormous – alone with the river annual savings of 500 euro and more are no rarity. Optimized tariffs are undoubtedly the simplest and most convenient way to save money, because here you don’t have to change anything in your habits and save practically while you sleep.
& Eco-electricity comparison at Check24 at Check24 at Check24
Free current account – avoid unnecessary fees
Save money with free current account
Many people have had the same account with "their" bank for decades branch bank – and pay unnecessary fees for account management and transfers, which are not charged by direct banks without thousands of costly branches. There is enormous potential for savings here, involving only a small one-off outlay – registering with the new bank, changing direct debits – and in return bringing enormous savings over the long term without any cutbacks in convenience.
When choosing a direct bank, you should pay attention to the availability of free withdrawal options. If you have to pay high fees every time you withdraw cash, the apparent cost advantage of direct banks over branch banks can quickly be reversed.
Our recommendation is Comdirect, the direct bank subsidiary of Commerzbank. With Comdirect you have free account management without minimum deposit (the catch with many similar offers), you get a free Girocard and Visa-Card and you can Withdraw cash worldwide free of charge. In Germany, you can use any of the Cash Group’s ATMs, which include Commerzbank, Deutsche Bank and Postbank.
The Comdirect current account is therefore completely free of charge. But that’s not all: There is a 100-euro welcome bonus and an additional account credit of 2 euros per month – for a full 24 months. The bottom line is that this is an all-around successful offer that allows you to save massive amounts of money and, practically as a side effect, gain convenience in your banking transactions.
Insure cheaper with direct insurance
Insure cheaper with direct insurance
Similar to the utilities and the bank account, also in terms of essential insurances many people are still stuck in old and expensive contracts with providers with a costly branch network along with representatives who let themselves pay dearly for contract conclusions. The change to a direct insurer promises here apart from cost savings of fast several hundred euro in the month also a large comfort plus, because with further inquiries and in the insurance case the solution is frequently only one mouse click or a short telephone call away.
The number 1 among direct insurers is CosmosDirekt. CosmosDirekt belongs to the renowned Generali financial group and, with 1.7 million customers, is Germany’s largest direct insurance company and the country’s largest term life insurer. CosmosDirekt scores with a complete offer at a great price-performance ratio, direct displays of costs, and a simple online application process.
Save money with cheaper loans
Save money with cheaper loans
If at the end of the money is still a lot of month left or unplanned an expensive purchase is pending, your account balance slips already once in the minus. The consequence: expensive overdraft interest.
If you have a major expense coming up or you want to balance the checking account and avoid the inflated interest rates, there are two recommended options to save money for different needs. At Vexcash there are Uncomplicated short-term loans with terms of 7-60 days, Auxmoney offers Loans from private to private with attractive conditions. On both platforms you will receive a commitment within a very short time and the desired amount already after a few days on your account. Alternatively you can also Loan comparison try – at the independent consumer portal Tariff check there are in times of low interest rates sometimes already offers under 1% effective annual interest rate. .
- Loans from private at Auxmoney at Tarifcheck
Higher interest rates for overnight money and time deposits in EU countries
Savers know the problem: On German daily money accounts there is only tiny interest, which does not even compensate the inflation rate. A clever and at the same time safe solution is to park overnight money and time deposits at banks in other European countries. Here you benefit from significantly higher interest rates of up to 2%, and at the same time, thanks to EU-wide harmonized deposit protection, you don’t have to worry about up to 100% of your savings.000 Euro do not worry about your equipment.
The leading online platform Zinspilot offers centralized management of your investment: with a single account you can invest your money in many different banks and benefit flexibly from significant interest rates. Registration and use of Zinspilot is of course free of charge.
Reduce electricity consumption
In the household you need some large appliances that can eat up quite a bit of electricity. This includes the dishwasher, fridge, freezer and washing machine. You can already account for one fifth of your total electricity consumption. With a few tricks you can reduce the power consumption of these appliances. When buying an appliance, you can already pay attention to the energy efficiency class. If you buy an appliance marked "A+++", you save 50 percent more electricity compared to an appliance marked "A+".
You can also make sure that you turn off some appliances completely and don’t leave them in standby mode. The best way to do this is to unplug them. There are also power strips with integrated switches that allow you to easily disconnect appliances with the push of a button. This is the case, for example, with televisions, coffee machines, dryers and washing machines.
There are many small things you can do to reduce electricity consumption. If you switch to LED energy-saving bulbs, you can already reduce your electricity bill by a few percent. It is also effective to rethink your consumption. Many people tend to use several electronic devices at the same time. While the TV is on, surf the Internet. The TV often runs on the side without anyone paying attention to the program. If you only turn it on when you actively want to watch a show or even rethink your overall TV consumption, you can lower your electricity bill.
Write shopping lists
When shopping, it is advisable to make a list in advance of the products you will necessarily need for cooking. You should stick exclusively to the list and avoid spontaneous purchases. Therefore, never go shopping hungry. It’s precisely then that you tend to reach for sweet and fatty convenience foods that drive up the bill. If you want to be even more efficient, you can plan your meals carefully and write down the ingredients you need for a particular dish each day. Try to find several dishes with similar ingredients. So you have to buy less ingredients.
Pay attention to offers
Before you go shopping, you should study the brochures of the shopping stores and their offers. If you pay attention to what products are on sale and adjust your meals accordingly, you can save even more money. However, do not be seduced by the offer price. Just because something is on sale doesn’t mean you have to buy it. Think about whether you really need it and whether buying the product is really worth it. This is especially true for clothing and electronics. Often people tend to make impulse purchases when the offer seems tempting. In retrospect, the product turns out to be a bad buy. In addition, sale products often can not be exchanged.
Cook for yourself
Cooking yourself saves money
Eating out is expensive, especially if it becomes a habit. Cooking is a burden for many people. After a long day at work, few people have the motivation to get into the kitchen and prepare a meal, especially if they live alone. That’s why many employees tend to go out to eat during their lunch break or order food after work. Others turn to expensive and unhealthy convenience foods. So not only your wallet suffers, but also your health.
It would be better if you pre-cook on Sundays for the week. This way you don’t have to worry about your meals anymore and have a home-cooked meal ready every day. You can freeze some of your meals. The rest you can store in the fridge for a few days. It is also practical if you always have a few snacks with you. A cereal bar, an apple or trail mix can satisfy the first hunger pangs. You’ll be less inclined to buy snacks and save a euro or two.
Keep a budget book
Keep a budget book
To keep track of your finances, you can create a budget book in which you write down all your expenses. At the end of the month you have an overview and can reconsider where you can still save some money. Already at the beginning of the month you can calculate your costs for the month and set yourself a goal. On average, 5 euros per person is used for food. Now multiply this number by the number of days in the month. If the month has thirty days, you calculate thirty times 5 euros. That makes 150 euros a month in food costs. It’s best to add a small buffer, for example 30 euros. This way you can budget 180 Euro per month for food. In your budget book, you can now check whether you are reaching your goal and not exceeding the 180 euros.
To clear your head and become aware of the things you really need, you should first sort out your possessions. Minimalism is trendy and has some positive effects on your consumption – and thus also on your wallet. If you look at your possessions, you’ll quickly discover some items you didn’t even know you owned. In addition, there are things for which you no longer have a use and which may even burden you. Sorting out these items will probably make it easier for you to keep track of things. You sharpen your eye for the really important things in life. If you own less, you have less need to buy new things. This way you save a lot of money in the long run.
Sell instead of throwing away
Once you have sorted out some items, the question is what to do with them. Probably most of the things are still fully functional. Therefore, you should not throw them away under any circumstances. What may be a burden to you is a helpful item to others. Sell your stuff online or at flea markets instead. This way you can make others happy and even make money.
Borrow instead of buying
Borrow instead of buy
If you need new things yourself, you should consider in advance whether it is worth buying these things new or used or whether you would rather borrow them. This is especially worthwhile for books. You usually read a book only once and then put it on a shelf. Instead, use a library and borrow books for free, then return them after a couple of weeks. Every city has a library with many books. So you have a wide choice and don’t have to limit yourself at all.
You can now borrow almost any item you need. You can rent tools for gardening and woodwork at the hardware store and rent a car for little money. This is especially useful if you only need these things in exceptional cases. Many cities lend bicycles free of charge. So you are mobile, even without spending a lot of money.
If you want to save money, you should always compare prices. This is tedious, but also very effective if you want to find the cheapest offer. When shopping, it’s best to look at brochures that show you what’s on offer. On the Internet there are countless comparison sites that compare, for example, airfares, electricity prices, hotel prices and Internet providers with each other. This way you always have an eye on the price-performance ratio and can choose the right offer for you and avoid unnecessary costs. Watch out for hidden costs in the small print and inform yourself in advance about the seriousness of the sites.
Do you really need it?
To minimize costs you should question your consumption. Therefore, also question your habits and consider whether you really need these products and services. Many people consume without really thinking about their behavior. This costs them not only a lot of nerves, but also a lot of money. If you eliminate some of your habits, you can save a lot of money in the long run.
- TrendsTrends come and go. This is also the problem. As quickly as a new trend appears, it disappears again – and the consumer is left with the products. Often you feel like you need a certain item just because it’s trendy. When the trend is over, you realize that the purchase was unnecessary. If you distance yourself from trends and listen to your own needs, you will make fewer bad purchases and save money.
- Bottled waterTap water is not necessarily worse than store-bought water. Almost everywhere in Germany you can drink still water from the tap without hesitation. This way you can save some Euros while shopping and you don’t have to carry heavy boxes. If you still want to be on the safe side, you can invest in a filter system. If you prefer sparkling water, you can buy yourself a water sprayer.
- Delivery serviceIf you want to save money, you should only eat out on special occasions, because eating out can be very expensive. It is even more expensive to have your food delivered. Then you pay not only for the food, but also for the delivery service. Cook with fresh ingredients at home or – if you can’t avoid it – pick up the food yourself. At least you can save on delivery costs.
- CarIn many cities and even in the countryside, you can now do without a car. Public transport is well developed, so you are mobile at all times. Riding a bike is not only more environmentally friendly, but also a good and cheap alternative to the car.
- SubscriptionsYou probably have several subscriptions or contracts that you pay for every month but hardly ever use. It could be the gym, the daily newspaper, pay TV or streaming services. Think carefully about whether the subscription is worth it or whether you would rather use the money for more sensible things.
- Cigarettes: Cigarettes are expensive and unhealthy. Chain smokers spend a small fortune a month on their addiction. If you’re a smoker yourself, you should consider quitting smoking. This saves money and is good for your health.
Save money by traveling cheaply
Save money by traveling cheap
If you want to travel on a budget, there are a few things you can keep in mind when planning your trip to make it more affordable for you. Keep in mind, however, that cheap travel is nowhere near as convenient as all-inclusive travel.
- Couchsurfing: Couchsurfing is an online platform for travelers looking for cheap accommodation. Couchsurfing is where locals offer their couch for free to provide a temporary home for travelers.
- Work for accommodation: Other platforms organize short-term employment in exchange for free accommodation for travelers. For example, they can work on a farm, give English lessons or work as a babysitter.
- Blind BookingWith blind booking, you don’t find out where you’re going until the day of departure. You pay a fixed amount up front that includes airfare and hotel. This is often cheaper and takes you to places you might not otherwise have traveled to.
Cheap travel often requires more organization than a package tour. You have to get from the airport to the hotel on your own, organize excursions on your own and are also on your own in case of flight cancellations and booking difficulties. This can be exhausting, but it can also give you a whole new experience.
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