How (soon-to-be) professionals handle money: tips from the bank apprentice
Saving has a very special value in today’s time. Due to pandemics, war and the other challenges that life has in store, at the end of the month you are often left with nothing but an empty wallet. In order to save money even in tough times, we have asked Dijana, a (soon-to-be) professional, for some tips on how to save money!
Tip 1: The workplace
For our expert, too, the most important thing is a secure workplace. This is the only way to have a regular income and to be able to count on repeated payments. Saving money is of course easier here.
Tip 2: Save
If you can save a large amount of money while keeping your fixed costs low, you kill two birds with one stone.
Tip 3: The three time horizons of saving
When saving, Dijana recommends keeping several time horizons in mind: short – medium – long!
- The short savings horizon is best a savings account that allows you to set aside an amount by standing order and still have access to it at all times, thus remaining flexible.
- For the medium savings horizon, a six-year home savings plan is actually beneficial. We know, this sounds quite “oldschool”, but here you get a nice sum paid out after six years, which everyone is sure to be happy about. &
- With the long savings horizon we find ourselves with funds and insurance. Here it’s about something long-term, something fixed! Because asset accumulation with monthly payments starting at about 50 euros is not only interesting for pension provision, but can also be seen as a life insurance plan. There is also great potential in the area of sustainability. Here you can get in now and score well.
Tip 4: Keep a budget book
Sounds old-fashioned, but it’s a very hot tip for not losing track of your savings! Costs and incomes you keep wonderfully in the view, if everything is listed black on white and in orderly row. If you stay on the ball here, you will quickly find the savings gaps and potentials.
Of course, it doesn’t have to be completely uncool: a digital budget plan, modern apps from your own bank or the online piggy bank – all also “in” and much more modern.
Tip 5: The magic word is compare!
Heard again and again, preached in the advertisement and nevertheless very meaningfully: The comparison of all offerers is worthwhile itself! Cell phone contract, bank account and especially insurance: If you want to save, use the best offer and only pay for the services you really need. Simply inform!
Consistency in saving remains important
If you not only want to keep an eye on your money, but also want to exploit all the savings potential, you have to pursue this goal tenaciously. Even grandma and grandpa must have often pondered over the famous penny that had to be turned over three times. Maybe it’s enough if you turn the euro over once. It’s important to think about your spending and hold back on impulse purchases. What things do I really need? Will I use it in the future? Question some purchasing decisions before you make them, and weigh which investments will help and benefit you in the long run. But of course there’s nothing to be said against a little reward now and then.
Pssst! Already found a job that secures your income AND offers the certain added value? No? We have something for you!