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April 16, 2024

Learning to save - with these tricks

It's a jinx: We're going to save money now - and at the end of the money there will be so much left over. Can you actually learn to save? One can! If you want to put money back today, our saving tips will help you:

A small change that makes a big difference

Usually, we think of saving ourselves as follows: We are reluctant to deal with our money, do not spend everything, and put aside what's left over at the end of the month. The problem: In most months, nothing is left. So we do not save anything.

There is a very simple trick that you can use to ruin the rudder and regularly save money every month: You simply save at the beginning of the month instead of at the end! Exactly: No longer what is left over (or should remain), is saved, but a fixed amount immediately to the beginning of the month. Professionals also have a name for this method: Pay yourself first! (We also call it the golden saving rule)

Learn to Save: Make a plan and a goal

What are you saving for? How much money do you need for this? It is much easier to get along with your money if you realize what you spend it on and what you save for it. If you want to "just save," you never know when you've reached your goal (Strictly speaking, you have already done that, if you only throw one Euro into a money-box). So you should know what you want the money for. Possible savings goals would be:

a reserve for emergencies
the next vacation
A big wish
a cushion for "later" (retirement)

Once you realize what you want to save, your goal is set. You now know how much money you need (for an emergency reserve experts recommend a cushion of three to six net monthly salaries).

In the next step, you can then think about how to reach your goal. An example: You want to make a holiday in a year that will cost you 1200 euros. Then it is already clear that you have to throw 100 euros into your vacation fund each month, in order to reach the destination safely.

Learning to save: reward yourself for your success

Saving should not be a pain. Although you should be very disciplined to achieve your goals, you can occasionally reward yourself with little pleasures in between. Do you now give up your daily coffee to go to put the money on the passbook? Why do not you treat yourself once a week to your hot soul comforter?

Saving should not feel like deprivation. If you feel that you can withstand all the pleasures of everyday life, there is a great danger that you will soon no longer enjoy saving. In diets is called the yo-yo effect? and that's what you can save as well. So be calm disciplined, but do not torment yourself and reward yourself in between for your successes.

Learning to save: Small cattle are also crap

One of the easiest ways to save money without it being "hurts": Put small amounts asideFor example, by dropping the coin money out of your wallet into a money box every night. In a few weeks, "the few coins" grown to a decent amount and after a year you can easily and well have saved a few hundred euros, without really noticing.

Or you try out the five-euro trick and put aside every five-euro bill you get. The effect is the same: You hardly notice that you are missing money, but the small amounts accumulate to a decent amount.

Learn to save: Do it automatically

One of the easiest ways to save is to automate the processes. You've already learned that it's smart to save money right at the beginning of the month. This works even better if you simply set up a standing order that automatically transfers a certain amount from your account to a savings account.

How much money do you want to put aside every month? Experts recommend that 10 to 20 percent of the salary for "later" cover. If you find that hard today, you can start with 5 percent of your income and increase the amount slowly (after 6 months to 6 percent, then 7 percent - until you reach your desired amount).

When should I start saving?

Now you know the most important tricks to spend money on your dreams or even bad times. Only the question remains: When should you start? There can only be one answer to that: Immediately!

If you really want to learn saving, you should get started now. You can set up your standing order today, plan now how much money you need and what you can do from today on your chosen savings strategies. We wish you good luck!

By the way: Do you want to get rich? Leading a budget can also help you learn to save, because with a financial plan you can keep track of your fixed costs and avoid impulse purchases. The main thing, you avoid the most common savings mistakes and do not make debts.