Osthessen (oz) – In order to have more money at the end of the month, there is the option of increasing income or reducing consumer spending. There are a lot of options that can be used for this.
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Save money with simple methods
It certainly makes sense to put money aside every month, this has also been evident since the corona pandemic and the short-time work that went with it. For this to work, the cash flows should be carefully considered. In this way, an overview of income and expenses can be obtained.
Keep track of all finances
First of all, you should set yourself a specific budget every month, this also gives you the first monthly goal. In the long term, everyone has their finances under control. If a savings plan is also created, there are other aspects to consider.
- Check income and expenses from the last 30 days.
- Compare monthly income and monthly expenses.
- Divide expenses into variable and fixed costs.
- Determine variable costs and avoid them in the future.
The money saved from this can then be sensibly invested within a savings plan. The money can then be put aside, for example, for new interior design, new furniture or for unforeseen cost factors such as a car repair.
Save automatically
Then there is also the option of an appointment transfer immediately upon receipt of the salary, whereby part of the salary flows into a separate account. This savings account is provided with a fixed amount every month, which later results in a financial cushion or a dream can be realized.
Pay bills automatically
The same applies to invoices, which in the best case should also be paid when the salary is received. Every new invoice should also be paid immediately so that there are no expensive reminder fees or even collection costs.
Reduce rental payments
Rent payments are likely to be one of the biggest cost factors for most people, and you can save a lot of money here. This is certainly not easy and at first it is also costly, since moving costs are incurred first.
If you live alone in a large apartment, there are also other options, such as founding a shared apartment. The rental costs can thus already be halved. If there are two roommates, each takes a third.
In this way, a five-digit amount can be saved every year – by the way. It is often overlooked how useful this option actually is. We have a corresponding subpage for real estate.
Save additional costs
The additional costs are another cost factor that is often underestimated. Electricity and gas bills need to be reduced because these account for the largest part of fixed costs. These can be reduced through various measures.
- Change energy provider (there are usually cheaper tariffs)
- Replace light bulbs with LED lights (up to 85% more efficient)
- Reduce air leakage, this significantly reduces heating costs in winter
- Buy smart thermostat which will intelligently set the central heating
However, there are also measures that can be taken in consumer behavior. So should also be in that Lidl prospectus be looked to to save here too.
Looking for a part-time job for more income
A part-time job also has a big impact, because it means you have a few hundred euros more per month. You don’t have to leave the house for this, for example, there are jobs that can be done on the computer – for example, virtual assistants.
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