Saving by buying slightly cheaper brands of groceries has little effect. Consumers focus too much on the small savings and not enough on the opportunities to make real savings. The fixed costs are the big money-guzzlers. Saving ten cents on cheaper coke makes little sense if your monthly costs are hundreds of euros too high. Saving on fixed costs also has the advantage that it hardly affects the quality of life. The Dutch are good at saving and being frugal with money. On the internet you will come across the most nonsensical tips to save a few euros per year. These savings yield so little that it is not worth it. Tips to save energy or reduce water consumption are not only good for your wallet, but also for the environment. So these are good tips to follow, but don’t expect this to give you more spending space. Switching devices off standby mode saves you a few euros per year. It’s a bit of a shame to think about this while you can save tens of euros per month by concentrating on the highest fixed costs.
Save on fixed costs
You don’t have to completely change your life to save money. You need to make an overview of the monthly income and expenses. The largest expenses are often also the parts on which savings can often be made. If you live in a rental house, you do not have the opportunity to save on rental costs. It’s a different story for homeowners. The high expenditure on insurance can also often be reduced. Is it really necessary that you continue to have all the insurance that you pay for every month? If they are really necessary, it is worth comparing.
Consumers often do not think about amounts that are automatically debited, but which can now be saved. This applies, for example, to subscriptions to magazines that you no longer read or a subscription to a gym that you never go to. A big saving can also be found in the many lotteries. There are families who participate in the National Postcode Lottery with multiple tickets. This is a complete waste of money, as the chances of winning are very small.
People who do not receive a mandatory annual tax return can often get a lot of money back from the tax authorities. There are several allowances to which you may be entitled, such as healthcare allowance. You would be wise to look into this further. You can still request the money you are entitled to up to five years ago.
Mortgage and insurance
Has your mortgage been in effect for years? Then request a meeting with your own mortgage advisor to go over things again. You may be able to adjust your mortgage so that you can save tens of euros every month. Comparing insurance policies can also save you money.
Review fixed costs
Once you have insight into your fixed costs, you will take a very critical look at the extent to which the expenditure makes sense. You should also see if expenses can be reduced. Even families who have no trouble making ends meet each month should not miss opportunities to save. In the future, it may be crucial that you have built-up capital. Money is too precious to waste.