What are some tips for saving money

Save money: 15 + 1 tips for more money at the end of the month

Looking at the account balance at the end of the month causes discomfort for many people, because often then the money reserves are running out. We'll tell you how you can save more money so you can check your account balance without worries.

How you can save money

How you can save money

Everyone has a wish that they would like to fulfill in good time. What is often lacking is time and the necessary financial reserves. Here's how you can better plan your time. You can find out how you can save money below.

There are many areas in which you can save money. In some cases the amounts are small, in other cases you can save several hundred euros over months. Small changes don't seem to be worthwhile at first. However, if you add up the savings over months, the change has been worth it. It becomes even more worthwhile if you change many little things. After a year you will notice how your savings add up and you get a financial buffer.

The smallest changes can make a big difference. Your quality of life will not suffer from these changes. When you look at what you can do with your savings, you can see that you can even improve your standard of living. For example, you could:

  • Pay off your debt
  • Go off on holiday
  • Fulfill a long-cherished wish
  • Give your loved one a gift

So you can go through life more carefree, make yourself and your loved ones happy. It will bring you more joy spending your money on these things than wasting it on nothing over the entire month. Saving money also ensures that you live more consciously and rethink your consumption.

Save money in the household & in everyday life

In the household, there are a few things you can do to save money in the long run. You won't even notice many changes, others quickly become routine. What you will notice, however, are the positive changes in your wallet.

But you can only save a lot of money in the household, but also in normal everyday life. If you pay attention to a few very simple things and consume them consciously, you can relieve your wallet.

Change supplier

If you want to start saving money, the first thing to do is to look at your current contracts. This includes electricity and gas providers and your DSL tariff. Compare the fee you pay with other offers. If these are cheaper, you should change providers as soon as possible so as not to lose even more money.

On the well-known comparison platform Check24 you will find the best tariffs for electricity, gas and internet. The collective bargaining agreement is possible online and only takes a few minutes, the savings potential is enormous - with electricity alone, annual savings of 500 euros and more are not uncommon. Optimized tariffs are undoubtedly the simplest and most comfortable way to save money, because here you don't have to change your habits and you practically save while you sleep.

Free checking account - avoid unnecessary fees

Save money with a free checking account

Many people have had the same account with “their” branch bank for decades - and pay unnecessary fees for account management and transfers that are not charged by direct banks without thousands of expensive branches. There is enormous potential for savings here, which is only associated with a small one-time effort - registration at the new bank, changing direct debits - and which in turn brings enormous savings over the long term without compromising on convenience.

When choosing a direct bank, attention should be paid to the availability of free withdrawal options. If you have to pay high fees every time you withdraw cash, the apparent cost advantage of direct banks over branch banks can quickly be reversed.

Our recommendation is Comdirect, the direct banking subsidiary of Commerzbank. At Comdirect you have one free account management with no minimum payment (the hook for many similar offers), you will receive one free Girocard and VisaCard and you can Withdraw cash free of charge anywhere in the world. In Germany, all of the Cash Group's ATMs are available to you, including Commerzbank, Deutsche Bank and Postbank.

The Comdirect current account is completely free of charge. But that's not all: There is a € 100 welcome bonus and an additional account credit of € 2 per month - for a full 24 months. The bottom line is that it is an all-round successful offer with which you can save massive amounts of money and practically gain convenience in banking.

To the free current account at Comdirect

Insure more cheaply with direct insurance

Insure more cheaply with direct insurance

Similar to the utilities and the bank account, many people are still stuck in old and expensive contracts with providers with an expensive branch network and agents who are expensive to conclude contracts when it comes to essential insurance. Switching to a direct insurer promises cost savings of several hundred euros per month as well as a great plus in convenience, because the solution is often only a mouse click or a short phone call away in the event of queries and in the event of an insurance claim.

The number 1 among direct insurers is CosmosDirect. CosmosDirekt belongs to the renowned financial group Generali and, with 1.7 million customers, is Germany's largest direct insurance company and the country's largest term life insurer. CosmosDirekt scores with a complete offer at a great price-performance ratio, direct display of costs and a simple online application.

Save money on insurance with Cosmosdirekt

Save money with cheaper loans

Save money with cheaper loans

If there is a lot of month left at the end of the money or an expensive purchase is unplanned, your account balance will slide into the red. The result: expensive overdraft interest.

If you have a major expense or you want to balance the checking account and avoid the excessive interest, there are two recommended options for saving money for different requirements. At Vexcash is there uncomplicated short-term loans with terms of 7-60 daysAuxmoney offers Loans from private to private with attractive conditions.On both platforms you will receive a confirmation within a very short time and the desired amount in your account after just a few days. Alternatively, you can also do one Credit comparison endeavor - at the independent consumer portal Tariff check Sometimes there are already offers in times of low interest rates less than 1% APR. .

Higher interest rates for overnight money and fixed-term deposits in other EU countries

Savers know the problem: on German overnight money accounts, there is only tiny interest that does not even compensate for the inflation rate. A clever and at the same time secure solution is the parking of overnight money and fixed-term deposits at banks in other European countries. Here you benefit from significantly higher interest rates of up to 2%, at the same time you don't have to worry about your investment thanks to EU-wide harmonized deposit insurance of up to 100,000 euros.

The leading online platform Interest rate pilot offers centralized management of your investment: With a single account you can invest your money in many different banks and benefit flexibly from considerable interest. Registering and using Zinspilot is of course free of charge.

Top interest on overnight money and fixed-term deposits at Zinspilot

Reduce power consumption

Reduce power consumption

In the household you need some large devices that can eat up a lot of electricity. These include a dishwasher, refrigerator, freezer and washing machine. They can already account for a fifth of the total electricity consumption. You can use a few tricks to reduce the power consumption of these devices. When buying a device, you can already pay attention to the energy efficiency class. If you buy a device with the “A +++” label, you save 50 percent more electricity compared to a device with the “A +” label.

You can also make sure that you switch off some devices completely and do not leave them in standby mode. The best way to do this is to pull the plug. There are also socket strips with integrated switches, with which you can easily disconnect devices from the power at the push of a button. This is useful for televisions, coffee machines, dryers and washing machines, for example.

There are all sorts of little things you can do to reduce power consumption. If you switch to LED energy-saving lamps, you can cut your electricity bill by a few percent. It is also effective if you rethink your consumption. Many people tend to use multiple electronic devices at the same time. While the television is on, they surf the Internet. The television often runs on the side without anyone paying attention to the program. If you only switch it on when you want to actively watch a program or even rethink your general television consumption, you can lower your electricity bill.

Write shopping lists

When shopping, it is a good idea to make a list in advance of the products you will necessarily need for cooking. You should only stick to the list and avoid spontaneous purchases. Therefore, never go shopping hungry. It is precisely then that you tend to resort to sweet and greasy ready-made products, which drive up the bill. If you want to be even more effective, you can plan your meals precisely and write down the ingredients for each day that you will need for a particular dish. Try to find several dishes with similar ingredients. So you have to buy fewer ingredients.

Note offers

Before you go shopping, you should study the prospectuses of the stores and their offers. If you pay attention to what products are on sale and tailor your meals accordingly, you can save even more money. However, do not be seduced by the offer price. Just because something is on sale doesn't mean you have to necessarily buy that product. Think about whether you really need it and whether the product is really worth buying. This is especially true for clothing and electronic devices. Often one tends to make spontaneous purchases if the offer seems tempting. In retrospect, the product then turns out to be a bad buy. In addition, sale products often cannot be exchanged.

To cook yourself

Cooking yourself saves money

Eating out is expensive, especially when it becomes a habit. Cooking is a burden for many people. After a long day at work, very few people still have the motivation to stand in the kitchen and prepare a meal, especially if they live alone. As a result, many employees tend to go out to eat during their lunch break or to order food after work. Others resort to expensive and unhealthy ready-made products. Not only does your wallet suffer, but your health as well.

It would be better if you pre-cook for the week on Sundays. So you no longer have to worry about your meals and have a home-cooked meal ready every day. You can freeze some of your meals. You can store the rest in the refrigerator for a few days. It is also practical if you always have a few snacks with you. A granola bar, an apple or trail mix can satisfy the first hunger. This way you are less inclined to buy snacks and can save one or two euros.

Keep a budget book

Keep a budget book

To keep an eye on your finances, you can keep a budget book in which you write down all your expenses. At the end of the month you have an overview and can think again about where you can still save something. At the beginning of the month you can calculate your costs for the month and set yourself a goal. An average of 5 euros per person is set for groceries. You then multiply this number by the number of days in the month. So if the month has thirty days, do the math thirty times 5 euros. That makes 150 euros a month for groceries. It's best to add a small buffer, for example 30 euros. So you can plan 180 euros a month for groceries. In your budget book you can now check whether you have achieved your goal and not exceed the 180 euros.

Mucking out

To clear your mind and become aware of the things that you really need, you should first sort out your possessions. Minimalism is trendy and has some positive effects on your consumption - and thus also on your wallet. When you look at your possessions, you will quickly discover some items that you didn't even know you owned. In addition, there are things for which you no longer have any use and which may even burden you. If you sort out these items, you will probably find it easier to keep track of things. You sharpen your eye for the really important things in life. When you have less, you feel less need to buy new things. This will save you a ton of money in the long run.

Sell ​​instead of throwing it away

When you've sorted out some items, what do you do with them now? Most things are probably still fully functional. Therefore, under no circumstances should you throw them away. What may bother you is a helpful object for others. Better to sell your things online or at flea markets. In this way you can make others happy and even make money.

Borrow instead of buy

Borrow instead of buy

If you need new things yourself, you should consider in advance whether it is worth buying these things new or used, or whether you would rather borrow them. This is especially worthwhile with books. Usually you only read a book once and then put it on a shelf. Instead, use a library and borrow books for free, which you then give back after a few weeks. Every city has a library with numerous books. So you have a large selection and do not have to limit yourself in any way.

You can now borrow almost any item. You can borrow tools for gardening and woodwork at the hardware store and rent a car for little money. This is especially useful if you only need these things in exceptional cases. Many cities lend bicycles free of charge. So you are mobile, even without spending a lot of money.

Compare prices

Compare prices

If you want to save money, you should always compare prices. This is tedious, but also very effective if you want to find the cheapest offer. For shopping, brochures that explain the individual offers are particularly useful. There are countless comparison sites on the Internet that compare, for example, flight prices, electricity prices, hotel prices and Internet providers. So you always have the price-performance ratio in view and can choose the right offer for you and avoid unnecessary costs. However, pay attention to hidden costs in the small print and inform yourself in advance about the seriousness of the pages.

Do you really need this

In order to minimize costs, you should question your consumption. Therefore, question your habits and consider whether you really need these products and services. Many people consume without really thinking about their behavior. That not only costs them a lot of nerves, but also a lot of money. Eliminating some of your habits can save you a lot of money in the long run.

  • Trends: Trends come and go. That is also the problem with it. As quickly as a new trend is there, it disappears as quickly - and the consumer is left with the product. Often you have the feeling that you need a certain item just because it's trending. Once the trend is over, you only realize that this purchase was unnecessary. If you distance yourself from trends and listen to your own needs, you will make fewer bad purchases and can save money.
  • Bottled water: Tap water is not necessarily worse than bought water from the supermarket. Almost everywhere in Germany you can drink still water from the tap without hesitation. So you can save a few euros when shopping and don't have to lug heavy boxes. If you still want to be on the safe side, you can invest in a filter system. If you prefer sparkling water, you can buy a soda maker.
  • Delivery service: If you want to save money, only eat out on special occasions because eating out can be very expensive. It is even more expensive if you have the food delivered. Then you not only pay for the food, but also for the delivery service. Better to cook with fresh ingredients at home or - if it cannot be avoided - pick up the food yourself. So you can at least save the delivery costs.
  • automobile: In many cities and also in the country it is now possible to do without a car. Local public transport is well developed so that you are mobile at all times.Cycling is not only more environmentally friendly, it is also a good and inexpensive alternative to driving.
  • Subscriptions: You have probably also signed several subscriptions or contracts in which you pay every month, but which you hardly use. This can be the gym, the daily newspaper, pay TV or streaming services. Think carefully about whether the subscription is worthwhile or whether you would rather use the money for more meaningful things.
  • Cigarettes: Cigarettes are expensive and unhealthy. Chain smokers spend a small fortune a month on their addiction. If you are a smoker yourself, you should consider whether it might not be better to quit smoking. That saves money and is good for your health.

Save money by traveling cheaply

Save money by traveling cheaply

If you want to travel with little money, there are a few things you can consider when planning your trip to make it cheaper for you. Keep in mind, however, that cheap travel is nowhere near as comfortable as an all-inclusive trip.

  • Couchsurfing: Couchsurfing is an online platform for travelers looking for cheap accommodation. At Couchsurfing, locals offer their couch for free to provide travelers with a temporary home.
  • Work against accommodation: Other platforms organize short-term employment in exchange for free accommodation for travelers. They can, for example, work on a farm, give English lessons or work as babysitters.
  • Blind booking: With Blind Booking you will only find out where you are going on the day of departure. You pay a fixed amount in advance, which includes the flight and hotel. This is often cheaper and takes you to places that you might not otherwise have traveled.

Cheap travel often requires more organizational effort than a package tour. You have to get from the airport to the hotel independently, organize excursions yourself and are on your own even in the event of flight cancellations and booking difficulties. It can be exhausting, but it can also give you completely new experiences.

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