We can save money in everyday life, on vacation, on fees and in investments. The secret for money saving does not ruin our quality of life either. The savings are easy to implement and we benefit twice from most of them: We have more money and live more healthy. Whether as retiring earlier through savings or a dream for which you need money: Be inspired by the savings methods!
Save Your Money At The Beginning Of The Month
The longstanding misconception was that you save the money you have left. So we waited to see what was left in the account at the end of a month in order to save this money. A big mistake as we now know because at the end of a month there is usually nothing left that is worth saving.
Avoid Consumer Debt
Success in building wealth isn’t just based on the things we do. The things that we don’t do are particularly important. Financial errors are meant: a new car that loses its value after 3 years, the overdraft of the facility or consumer debt. These are just a few examples of decisions many of us make without realizing the negative sides on our wealth.
Daily Money For The Emergency Reserve
An emergency reserve of money should always be available quickly just in case. This can either be in cash or in a call money account. Most providers offer the variant of a savings plan, so that you can easily deposit your savings amount into your daily money account.
Learn The Main Things Of Investing
Money saving is a great rule for building wealth. However, if you only leave the money in the savings, you will not make more money out of it in the long term. As purchasing will decrease due to inflation. Therefore, everyone should be familiar with the rules of investing. You don’t have to be a professor to do this.
Smoking And Alcohol Are Hard Cash
The great thing about unhealthy habits when we change something in our behavior: our health is better and at the same time we keep more of our hard earned money. Quitting smoking or reducing alcohol is a great lever for our health and for money saving quickly. You may also want to quit or at least reduce smoking. Just work out how much money this could save you in just one year.
If You Buy Cheap, You Buy Twice
One fact of being more careful about new acquisitions is that you won’t have to buy things as often. This means you have more money available at the same time when you really need something. In this case, you can get better tools, shoes or clothing that will last longer. You won’t buy a new screwdriver in two weeks because the old one broke again, even if it was a bargain.