Having money in your savings account brings peace. Knowing that you have enough money to buy a new washing machine or have your car repaired if it breaks down gives a feeling of security. But saving is not always easy, so you will find tips below to ensure that you too can build a small piggy bank.
1 Start now
It’s never a good time to start, so just start. Don’t be discouraged by the small amounts you save. You can start by saving 25 euros per month (and of course more if you can miss this), this doesn’t seem like much but it is always more than nothing! And if you have some money left over (10 or 100 euros), you can also transfer this directly to your savings account.
2 Good savers know the difference between wanting and needing something.
The biggest lie we tell each other is that we think we need the things we want. Because the latest gadgets, new shoes and eating out are things we want, but certainly do not need!
3 Good savers keep an overview
Many accounts are automatically debited. This is useful because it prevents you from paying late and getting fines. But it is good to regularly check your bank account because if everything goes automatically, you can sometimes forget what you spend money on.
4 Good savers have a budget
If you know what you receive and spend, you can draw up a budget for yourself. What are the fixed expenses? What comes in, how much do I have left? How much do I spend on groceries? How much can I spend on the children’s sports clubs, clothing, and savings? Make a budget for yourself and stick to it. It is quite normal to make a budget, you are not a millionaire so you have to take a critical look at what you spend your money on.
5 Good savers give priority to savings
It sounds simple and it is. Prioritize saving. Before good savers spend it on other things, they first pay for themselves by putting money in their savings account.
6 Good savers think small expenses are just as important as big ones
Lunch for a few euros here, an app of € 0.99, a bottle of water, a magazine, a pastry, the more expensive tea you like, just a sandwich there … All these things cost money! Good savers don’t spend money on useless things. Because fill your bottle of water at home and top it up where necessary (it is also better for the environment), take your sandwich or salad from home and think about your expenses! Small things quickly add up to a large amount.
7 They adapt when something changes in their lives
If you have children, you have to adjust your spending pattern. If you are divorced, you probably have less money to spend than before. Keep this in mind and adapt to the situation. You cannot live as you did when big things in your life have changed, accept this.
8 Good savers have covered their costs for 3 to 6 months
Most people live from payslip to payslip. So if anything happens there is no more money. That is why it is good to have enough money to be able to move forward at least 3 months if something unexpected happens. How much money you need depends on your lifestyle, but make sure you have put enough money aside to pay for your mortgage or rent, groceries and, insurance for 3 months.
9 Good savers dare to be honest with themselves
We (fortunately) are getting older every year. But the older we get the more money we need. Because the older we get, the more chances we have of getting diseases and the older we are, the faster our pension gets closer. You can stick your head in the sand, but saving for your old age is something that goes with it whether you like it or not.
10 Start small
You may feel overwhelmed by this list and think … never mind, but that’s such a shame. Financial security gives you peace of mind, it is a nice feeling to have a few thousand euros in a few years’ time for unforeseen situations. Start small, but start. Save automatically and you probably don’t even realize that 25, 50 or 100 euros per month goes from your checking account to your savings account. Just set it up and enjoy that peaceful feeling in a few years.