As of: March 29, 2024, 8:01 a.m
By: Laura Hindelang
Comments
Press
Split
Do you want to save more money? Then get an overview of your finances. This way you can discover and reduce cost traps.
Is your income barely enough for rent, electricity and a few leisure activities? A situation that will be familiar to many people. It is not always possible to put money aside and save for an emergency fund or even invest in the long term. You are probably already making sure to use as little electricity as possible and opt for the cheaper no-name products when shopping. These are the obvious money-saving tips.
Keep a better eye on finances
But there are often hidden cost traps lurking in everyday life that - perhaps without you realizing it - cost you money every month. That doesn't have to be the case. With a little planning, research and mindfulness when handling finances, you can quickly curb unnecessary spending. Here are four simple but effective money-saving tips.
A first step to save money: cancel unused subscriptions. © Westend 61/Imago
1. Cancel subscriptions
Spotify, Amazon, Netflix, Bahncard, fitness studio – memberships and subscriptions deduct a lot from your account every month. If you have several contracts, you can quickly add up to a large sum. And often for offers that you don't even use. If you want to save money, you should ask yourself how important the respective subscription is to you.
Do you only turn on Netflix once a month? Have you not gone to the gym in half a year? Then you should get rid of both contracts. Prioritize the most frequently used offers, emphasizes the
consumer advice center
. Then you only pay money for the things you actually use and stop spending money on unnecessary things.
2. Look for contracts with better conditions
Whether cell phone, electricity, internet – or even the daily money account: contract conditions can change quickly. Lena Kamionka, financial health expert at the fintech
Anyfin
, therefore advises comparing different providers and renegotiating existing contracts. Especially if the contract was signed several years ago, it is worth taking a look at current offers. Where can you get the most data volume at the lowest price? Which bank offers the highest interest rates on savings?
My news
Shooting down of F-16 fighter jets: Putin threatens to attack NATO airfields read
Quake in the construction industry: Read the bankruptcy of a large German real estate company
Silent holiday before Easter – What are you allowed to do on Good Friday in Bavaria? read
Cheese recall: Federal Office warns of health risks – according to the RKI, three groups are particularly susceptible to focus reading
Meloni takes action: Italy cancels the “super bonus” read
She had planned Gottschalk's visit to BR completely differently: Schöneberger lost his composure
Researching and comparing prices may take some time, but you can save money every month. The
Editorial Network Germany
provides an additional tip : In order not to miss notice periods, it is advisable to create an overview document. Or set reminders in your smartphone calendar.
3. Clean up your inbox
It's not uncommon for newsletters to arrive in your email inbox with savings campaigns and discount codes that entice you to shop. However, if you shop just for the sake of a cheap offer, you will end up spending far more money and unnecessarily, emphasizes the
Sparkasse
. Lena Kamionka from
Anyfin
advises consistently unsubscribing from such newsletters. The less you are exposed to them, the less you will want to buy.
Would you like valuable money-saving tips?
Merkur.de's “Clever Save” newsletter always has the best money-saving tips for you every Thursday.
The
Sparkasse
recommends an additional ad blocker so that you no longer see advertisements for discounted offers when surfing the Internet.
4. Creating barriers to online shopping
Put all the things you want in your shopping cart, checkout and buy with a single click. Since the payment method is often stored in your favorite online shops, you can order quickly and conveniently, even without thinking about it for long. To prevent spontaneous impulse purchases, you can delete the saved details so that you have to think longer about whether you really need the things when purchasing, explains the
Anyfin expert.
You should also avoid buying in installments. The “buy now, pay later” option with Paypal or Klarna can help you accumulate debt more quickly. It's best to only buy what you can afford at that moment.