The corona crisis hit many people hard. Health - and economical. Short-time work, shop closings, and downsizing have an impact on their own finances. What to do when the budget becomes tight?
With these tips, you can save money in 2021
Our savings tips also help to put one or the other euro aside, regardless of the Corona crisis.
Take an inventory
Hand on heart: how many black sweaters do you have in your closet? And how often have you wanted to buy a third or fourth?
We tend to bunker far too many things, firstly we don't need them, secondly, we already have them twice and three times, and thirdly because we don't even remember that we have them for a long time. The logical consequence: you buy in abundance. This is not only bad for your wallet, but also for the environment.
Means: Now mucking out is the order of the day! And properly. And not just in the closet. Also books, decoration, utensils. Weigh: What do you really need? What triggers a feeling of happiness in you? What can go away? Sorting out not only frees your home from unnecessary ballast but also your soul (yes, it really makes you happy!) - and incidentally induces you to use money more sparingly.
Check your fixed costs
Do you have an eye on how much money is withdrawn from your bank account month after month (rent, train ticket, electricity, mobile phone contract, fitness studio), and can you optimize something here? Sure, there are some things that cannot be shaken, such as your rent, but some things do. For example:
Electricity and gas bill
Turning off electricity when you don't need it will reduce your bill enormously in the long run.
Cell phone and DSL tariffs
Have you had the same cell phone contract for tens of years? Take a look around online. You are sure to find cheaper tariffs by now.
Insurance
When it comes to insurance (liability, motor vehicle, additional insurance, etc.), you can save money by changing the provider. The following also applies here: Annual payments are cheaper than monthly or quarterly payments.
Account management fees
Do you pay fees for your bank account? There are now a number of direct banks that no longer incur account management fees. Everything happens online. Customer service is often even available 24 hours a day.
Gym
Regardless of Corona: Do you really use your gym? Or are you only registered pro forma? Do you need a monthly membership or do you get away cheaper with a day pass? Maybe it's the other way around and you visit the studio regularly. Then an annual or two-year membership is cheaper in comparison.
Car costs and train tickets
If you live in a place with a dense public transport network, you should use buses and trains more often, not only for the sake of your budget but also for the sake of the environment.
Have you been doing this for a long time, but are now more and more in the home office? Then check whether you still need your train subscription or whether single trips are now cheaper.
Your car is just in the garage? In larger cities, a comparison with car-sharing options would be worthwhile. After all, you pay your vehicle fee month after month and sometimes also monthly parking costs, even if you don't move your car.
Save when shopping
When you go to the supermarket with a shopping list, you only buy what you really need and you won't be tempted to make impulse purchases.
When buying groceries - even if you want to save - pay attention to quality, regionality, and freshness. It's better to take less with you - and go to the supermarket once more. Unfortunately, many people buy in abundance, so too much food ends up in the trash.
By the way: Food can be kept even beyond the best before date (as the name suggests). Trust your own judgment and not a number on the packaging!
Tip: Do you absolutely need the bottled water from the beverage store? Or maybe the tap water does it after all? That could save you a huge amount of money in the long run.
Shopping properly
Shopping triggers feelings of happiness. Who would know better than us? That's why you should treat yourself to a new piece of clothing every now and then. But: You should be sure that the part will make you really happy or that you need it.
Our tip: sleep on it! Before you strike, take a photo or save the part, wait at least a week. Now you look at it again: does it still trigger the same feeling of happiness in you or have you perhaps long forgotten it? With more expensive purchases, it's best to let even more time pass.
Save in everyday life
Do you really need the cappuccino from the bakery every day or is the filter coffee from home or the office enough for you? Do you want to go to the canteen for lunch every day or don't you prefer to prepare a dish for work the day before? The latter also has the advantage that you know exactly which foods are processed.
Tip: If you cook yourself instead of going out to eat or hiring a delivery service, you always save money.
Save and invest
The goal of saving, of course, is to put what you have saved aside. So pay a fixed amount into a savings or overnight account every month. Important: It should be a separate account that you don't touch for your fixed costs.
All the money that you did not expect comes into this account. Bonuses, for example, or tax refunds. Or when there is a raise. You can invest the net difference directly there. After all, you did pretty well without the bonus meanwhile.
Don't be afraid to invest some of your money in stocks, equity funds, or ETFs. In crises like Corona: stay cool and don't sell in panic. The economy usually recovers and then runs better than before.