Although it may seem difficult at first to limit your spending and stick to a strict budget, with a few practical tips you can change your spending habits. You'll see what a difference a little saving here and there can make to your household budget!

Buy on card

 

Try not to buy on credit cards or debit cards, as you will lose track of your budget too quickly. By paying for everything in cash, you know exactly how much money you have in your wallet and how much you can still spend. If you run out of cash, you won't be tempted to buy anything as long as you leave your bank cards at home.

If you do have to make a purchase or two by credit card (e.g. online), make sure that you repay the money spent immediately to the relevant account so that you can't spend the money elsewhere. This will also save you a lot of interest on your credit card.

 

Everyday habits

 

Take a packed lunch from home. It's cheaper to take food from the supermarket to work or university than to go to the chip shop, even if it's not cool. Remember, being cool won't fill you up.

 

Only make calls during the cheaper rate. Mobile phone tariffs often have a main tariff from 8 a.m. to 6 p.m. and a secondary tariff for the rest of the time. In this case, only use your mobile phone after 6 pm if possible. Only send text messages if absolutely necessary.

 

Look for the cheapest rates on the internet for the important insurance policies. And above all: only insure what is compulsory, such as your car, and leave out the superfluous insurance policies. Most people tend to be overinsured because their insurance advisor has talked them into unnecessary policies. If, for example, your home furnishings with used Ikea furniture have a total value of €1000, you don't need to take out household insurance. In this case, it's better to put some emergency money aside regularly so that you can buy a completely new home furnishing in the unlikely event of an insurance claim. The money you pay in for household insurance is gone for the time being, but if you save it yourself, you can use it for any emergency.

 

The most important thing when saving money is to understand that it adds up if you save a euro here or there. It's wrong to think "oh, it's only one euro, it won't make any difference". Try it out.