Debts can be solved with savings

Debts are caused by excessive expenditure compared to income. Debt does not arise out of nowhere and can only be resolved by paying it off and then adjusting monthly expenses. Families who receive benefits or salaries at social assistance level have difficulty making ends meet. Families where one of the parents works and receives the minimum wage are also on social assistance level. These families have to cope with the monthly costs on a low income. They do not have the opportunity to save, which makes them very vulnerable. As soon as a financial setback occurs, they do not have the money to absorb it. They have to get into debt, knowing that they cannot bear the additional burdens that arise as a result. This can get them into a circle from which they cannot get out. If problems arise in the months of April and May, they can close gaps with holiday pay. In other cases there is a problem. The solution lies in cutting back on spending even further.

Save on monthly costs

Most families that have to survive on the social minimum do not already have excessive spending patterns. Yet they still have to find room somewhere to make further savings. They must do this by first gaining an overview of their finances. How much comes in monthly and how much goes out monthly, and from what? The answers to these questions can help families gain insight into how much they really spend and to what extent they can still save.

The easiest savings?

There are complex ways to save money, for example by transferring the mortgage, but there is a simple way to save money immediately. The simplest way is to save on groceries, going out and telephony.


If you have a small budget, groceries should be purchased as cheaply as possible. By clearly putting down on paper what groceries are needed, a lot of money can be saved. Grocery shopping without a shopping note leads to more impulse purchases. It is also wise to go shopping on a full stomach. Families who do their shopping once a week in a clearly structured manner can save a lot of money. The choice for a cheap supermarket is of course the obvious one here. Spending on cigarettes often makes up a large part of the total cost of groceries. By reducing these expenses or rather stopping, hundreds of euros can be saved per month (assuming two smokers).

Going out

Young families in particular tend to spend way too much money on going out. They find it difficult to let go of going out, but often can no longer afford it due to the high fixed costs they have to pay monthly. A night out for two people easily costs €100. This can easily be saved by going out less often or cheaper.


Nowadays it is normal to spend a few hundred euros per month on calls. These costs can be reduced by choosing a subscription that better suits the calling pattern, but it is even more important to adjust the calling behavior. It is really not necessary to call and text all the time. If it is financially possible, there is no problem, but people with large debts should simply keep a prepaid telephone to better control costs.