7 money saving tips for adults
Money, money, and money, must sound funny, popular in the world of rich man. Who do you say this to? It is by no means news that students are constantly short of money and usually have to turn over every euro, especially during their studies. Here are the money saving tips for adults.
No saving on credit
Check that you really have money left to save. If you are regularly in the red with your “overdraft facility”, this is not the case. Since lending rates are generally higher than savings rates, you should first do your utmost to stay reliably in the positive and pay off your loans first!
Choose the correct transit times
Make sure that the term of your savings contract is correct. Invest your money in such a way that you can always have it when you need it – for example, if you are getting married, have a baby, want to buy a property or want to start your own business. This also applies if you want to save something for your retirement in the long term: Save in stages by re-investing due payments. Avoid forms of investment in which your money is tied up for decades.
Keep an eye on costs
The financial institutions often charge a fee for managing your money (e.g. account management, deposit costs, issue surcharge, administration costs, and commission. That can reduce your return on investment. So pay close attention to the costs when making your decision and look for the cheapest provider.
Do not ignore traditional forms of savings
Make no mistakes when saving with overnight or fixed-term deposits, savings accounts, savings certificates or bank savings plans – your money is safe here.
Forms of savings for advanced users
If you have already invested a larger amount (e.g. the value of your next car) as a fixed-term deposit and are not afraid of the risk, equity funds with the option of a higher return can also be considered as a form of savings. Exchange-traded funds (ETFs) are recommended – they save you money.
Save with a clear conscience
More and more people want to know what is happening with their money. They also? Check with your bank about how your money is invested. If the answer is unsatisfactory, use the numerous savings investments of the ethically oriented financial institutions that donate part of the return to a good cause or invest money according to clear ecological or social guidelines. A lot is possible here, from savings accounts to investment funds.
Safely invest money for the property
If you want to buy a property, the classic, safe forms of savings (overnight or fixed-term deposits, savings bonds, etc.) are best suited to have the necessary personal money available at the time of the property purchase. Be sure to pay attention to ways to save money!
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