Who doesn’t dream of a well-stocked savings account and financial security? Burning money is the easiest thing in the world, doing the opposite may not be as easy – but not as difficult as one might think. So how do you actually make that dream come true? Here you get our best savings tips!
Many associate saving with living poorly. Our philosophy is that it is rather about living a little smarter. If you just make sure you get a good overview of your finances, consider a lap around your everyday life and make smart choices along the way, you can actually save without compromising your quality of life.
How much to save per month?
The amount to be saved is at most individually. It depends on what income and expenses you have and what the savings goal is. But in general, about 10% of salary is a good guideline, and these can of course be divided into different items.
So how do you get started with saving?
Set up a savings goal
A good starting point is to think about what the purpose of your savings is. The focus is to build a buffer, a cash contribution, to save on pensions or to finance a trip. Maybe a mix? Find your stuff and then set up a reasonable savings goal – preferably with smaller goals, it will help you keep your motivation up.
Make sure the savings get rid by automating it. You can do this easily by setting up a standing transfer.
Savings account, funds or shares
Make sure you place your money either in a savings account with interest or in mutual funds and / or shares so that they have the opportunity to grow with the interest-on-interest effect. If you find it difficult and complicated with funds and shares, there are apps to help.
Review the expenses
Record what expenses you have and see which items you can reduce. Remember that many small streams make a big difference.
Negotiate the interest rate
If you have a mortgage or a private loan, it may be a good idea to contact the bank and try to negotiate the interest rate. You can either do this yourself or through a loan broker.
Collect loans and credits
Do you have several different private loans and credits? Instead, make sure to collect them under a single loan and lower interest costs significantly.
Collect all insurance policies
Most insurance companies offer a discount if you collect all your insurance with them. Compare different companies and see which ones offer you the best deal.
There are many good comparison sites online. Use them to see which companies can give you the best price on, for example, electricity contracts, broadband and mobile subscriptions. The same thing if you are going to shop for something, do some research first and find out which shop is the cheapest. It’s smooth and easy and can save you a lot of money.
List your various subscriptions. Is there anyone you can keep? Maybe it is enough with either HBO or Netflix instead of both? Quit those you don’t need.
Autogiro and e-invoice
Do you still get some bills home in the mailbox? Take action and put them on direct debit or e-invoice. Then you avoid administrative fees, reduce the risk of reminder fees and also do the environment a favor.
Smart savings hacks
Smart saving is the best saving. And most preferably when it benefits both the savings account and the environment.
Save money on food
There are many simple tricks to reduce food costs:
- Always write a shopping list and buy only what you need.
- Buy goods with “short dates”.
- Buy vegetarian rather than animal.
- Buy fruits and vegetables by season.
- Avoid semi-finished products. It is both tastier, cheaper and more useful with food prepared from the ground up.
- Make a big cook and bring lunch boxes to work.
- There will always be days when it feels really brave to cook. Be foresight and always have the ingredients for something quick and easy at home, so you don’t have to spend money on any sad take away.
Sell or exchange things you do not need
We all have clothes and gadgets that are just in the cupboards and garbage. Clear out regularly and sell on Tradera or Blocket or exchange with friends and acquaintances. You earn a living and it is also very liberating.
Buy second hand or borrow
Shop your clothes second hand or borrow at a clothing library (yes, there really are!). It gives you a cheaper, nicer and more personal wardrobe.
Walk, bike or ride collectively
Save on petrol money and emissions. Walk, bike or ride collectively when you can, and take the car when you really need to.