In times of inflation, money is no longer so loose for many citizens. According to experts, some cost screws can be turned.
Saving costs in everyday life is anything but easy in view of the increased prices in many areas of life, especially if wages have not increased at the same time. According to consumer advocates, however, there are some cost screws that can be turned – from their point of view, these include some insurance, insufficiently used subscriptions and the cost of one's own car.
If you always keep a close eye on your expenses, it will be easier to save. © Westend61/Imago
High costs – potential savings on insurance, subscriptions or cars?
- Insurances: On average, Germans spend more than 2,000 euros per year on insurance. This is reported by the consumer advice center. It is not for nothing that experts see one of the greatest savings potential in this area. According to the consumer advice centre, some of these "superfluous insurances" include, as it says on its website, "policies that only cover minor damages, as is the case, for example, with luggage insurance". Glass, death benefit and private unemployment insurance are also dispensable, writes the consumer advice center: "Even extra device insurance for bicycles, cell phones, laptops or glasses are only worthwhile for extremely expensive purchases." Here it could therefore be worthwhile to check your own documents.
- Car: Even a new car costs a lot of money. It starts with the acquisition costs. The depreciation is almost 50 percent in the first three years of the car, as Thomas Kehl describes on the Youtube channel Finanzfluss. In addition, there are the operating and maintenance costs, which include fuel and insurance costs, as well as the costs for the TÜV, repair or parking costs.
- Subscriptions: A typical money guzzler are also all those subscriptions that have been taken out once, but are hardly used or sometimes not used at all during the current period. "What about the gym you may not have gone to for a year. Does the contract really have to continue? Are the costs of the streaming service okay or can you do without it? And what about the product subscriptions you may have taken out at some point?" According to the consumer advice centre, these are exactly the questions that those affected should ask themselves if they want to save unnecessary costs.
According to an evaluation, the largest cost factors that can be influenced also include package holidays and health costs.
Money-saving tip: Write a shopping list and keep a budget book
If you want to save, you should always compare offers and prices well. As well as, by the way, it is better to refrain from spontaneous purchases in everyday life, the experts advise. Because there is often an unnecessary amount of money on it. A shopping list helps to avoid spontaneous purchase actions. In principle, it is advisable for anyone who wants to keep an eye on their costs to keep a budget book.