Everyday savings tips

In some life situations, you may be able to cut down on your expenses and put some money aside. Even small savings can help you get through a rough patch.

Compare prices

You can save money by shopping around for better deals, such as a more affordable electricity contract, mobile phone plan or loan. When shopping for groceries, compare the prices of different brands. When you need clothes or other items, look out for offers and sales.

You can also consider whether you could cut down your spending. Small purchases can add up to a large sum. These include monthly fees for streaming services or a daily cup of coffee from a coffee shop.

Put some money aside

You can start accumulating savings by putting aside the money you get for returning empty bottles or as loyal customer bonuses, for example.

Even small savings can be useful if your income suddenly drops or you have several expensive bills to pay during a single month. Savings bring financial security if your life situation changes, and they may help you pay for unexpected expenses without taking out credit.

You can put your savings on a separate savings account, in a piggy bank or in your nightstand drawer. If you transfer money to a separate savings account, check whether your bank charges account maintenance fees. You can save as much or little as you like and at a pace that suits you.

If you know you will have some money left after you have paid for all your expenses, try microsaving or set up an automatic transfer of a certain sum to a savings account. Make sure you still have enough money for your everyday expenses.