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Well, do the finances also appear with your good intentions for 2020? Then I would have something for you. Because there are many opportunities to be a little smarter with your own money.
At the same time, experience shows that it is better to only tackle things that are ambitious but achievable. We should be aware of our own strengths and weaknesses. And because we are all different, here are three suggestions for financial New Year's resolutions - depending on the situation in life.
1. The where-I-am situation
I no longer know which contracts I have, how much they cost and how many of them are actually superfluous.
In this situation you only need a file folder and the appropriate file folder on the computer or in the cloud. All contracts that have to be paid regularly in everyday life come into it. The lease, the electricity contract, the contract for heating, cell phone, internet, current account and credit card. Then car insurance, liability, occupational disability insurance, household effects, legal protection, and so on.
Now take your calendar and write exactly one contract in each month that you want to undertake this month. So they work through the folders one by one.
Check in peace whether you still need it, whether it could be more powerful and, above all, cheaper. This even works with the rental agreement: Because the utility bill contains many savings potential. Maybe your utility bill is wrong, which happens quite often. Then there may be money back.
Or take on the electricity contract. Most of the electricity prices have only just been increased. A good reason to check the market to see if there are not cheaper and perhaps also more ecological providers. This is not an inevitable contradiction: green electricity does not have to be more expensive. I personally just changed my green electricity provider in the summer.
Our experience at Finanztip shows that for most people the first time they flick through the file, the net is 1,000 euros more, and for families even double.
2. The where-to-take-from-not-steal location
Financially, I am missing every nook and cranny and in January, after all the Christmas expenses, I am already deep in the overdraft facility - shortly before the limit.
In such a situation, you should first make sure that you are not entitled to government funds that you do not use. If the rent is depressed and income is low, the new Housing Allowance Act 2020 may give you the chance to receive housing benefit for the first time. According to estimates, only every third person exercises their right to housing benefit. Over a million households should actually be eligible.
Recipients receive around 160 euros in housing benefit on average, according to the estimate by the Institute of German Business. And unlike Hartz, the office does not ask how big the apartment is. Nobody has to move for housing benefit. The decisive factor is how much money they have available and what the apartment costs. You can even get housing allowance for an apartment that belongs to you.
If you have children, you should also apply for the family allowance for families with little income. There is a maximum of 185 euros per month. As of January, up to 750,000 children will be able to benefit from a child benefit surcharge from their parents. Now you should take a look at your expenses: From now on, every euro is entered in the household book or in the household app to know afterwards where less expenses are possible. Keep a precise record for at least three months, then you have a good overview of where to start.
With the tank app, for example, you can save 5 euros per month, for some even 15 euros at the petrol pump. The price difference on your route to work can be 10, sometimes even up to 20 cents per liter. Not to mention the price brakes of the oil companies at the motorway service stations.
Of course, you can also take a look at the super special offers for new mobile phone tariffs, with which you can now surf with a lot of data for less than 10 euros instead of spending 25 euros and more. Saving 15 euros a month makes 180 euros a year. And of course the measures from point 1 will not harm you either.
3. The where-with-the-money situation
I saved enough, maybe even a small fortune. But I don't really know how to get the savings - against the backdrop of low interest rates and with fear of the stock market.
The gold question even haunts some people with savings at the New Year's service. When I stood in front of the church with my family, several people spoke to me: Investing your own money in gold was an excellent idea! Before Christmas, many apparently tried to anonymously exchange cash for gold. In the new year you have to identify yourself when buying gold from a value of 2000 euros, before the turn of the year the limit was 10,000 euros.
I have nothing against gold coins and gold bars, but I would never invest a large sum or nest egg in gold. Not the nest egg, because the gold price fluctuates far too much. Comparable to stock prices. Would you invest your nest egg in stocks?
I would not invest the large fortune in gold either, because it brings no interest, but causes costs. The locker at the bank costs 50 euros a year, the home safe even more. And the gold price may be rising at the moment. In the long run, however, gold is speculative and makes less profit than stocks.
Nest egg belong to the call money account. At Cosmos Direct there is currently 0.3 percent interest per year, some Dutch banks even offer more for new customers initially. Okay, that's not much, but more than nothing.
You can invest the large assets relatively low risk for 15 years or more in global and market-wide equity index funds - the key word is ETF. Since 1975, investors have never suffered losses with this concept for over 15 years. If things went badly, there were only 1 or 2 percent interest a year, it went well, well over 10 percent. On average it was at least 7 percent. That means: in 10 years you would easily have doubled your capital.
Good luck with the new good intentions. And a healthy and blessed year 2020.