Life is a constant reminder of the importance of putting some money aside for the unexpected. Unfortunately, most didn’t put that money aside. A survey showed that a great many of the people have no savings. Almost half of Germans state that they have reserves of more than three months’ net income. But what can you do to save money fast? Here are some tips.
Save money fast
Who doesn’t want to save money quickly? It all sounds difficult, but it isn’t. It just takes good will and a bit of patience. We have attached some very good tips on how you can quickly save 1000 dollars.
Water is (almost) free
Water is almost free and can be drained from the tap at any time. In Germany, Austria and in Switzerland, the tap water is one of the cleanest in the world and can be drunk without hesitation. You can save a lot of money if you don’t buy soft drinks. In other countries you can’t drink the tap water, but it’s cheaper to buy than softdrinks.
Cook yourself
More and more people are getting a taste for delivery services. While Corona, orders from delivery services in Germany increased by over 1000%. These are too practical, we know that too. 10-15 dollars for lunch doesn’t sound like much at first. But that quickly adds up to a large amount. If you cook for yourself, you can save 1000 dollars very quickly.
Roundup amount
More and more bank accounts and credit cards, such as the N26 credit card, offer a so-called rounding up function. This means that if you buy something in the store for $10.70, the amount will be rounded up to $11 and then deducted. The 30 cents automatically go into a fund (space), which you can always access. You don’t notice the minimal amounts, but over time you can add up to a nice sum. This is a way where you can quickly save money without doing anything.
Switch banks and save on account management fees
The bank fees are among the most unnecessary ever. However, there are a number of banks that offer a free account. On the one hand, this is the N26 account, but also the Revolut account, as well as some large banks such as the DKB or Commerzbank offer bank accounts without fees. Often only a minimum receipt of e.g. 700 dollars per month is required, and the account management fees are eliminated.
Cancel unnecessary subscriptions and memberships
Get rid of unnecessary subscriptions and you will save big very quickly. Maybe you signed up for a new streaming service for the free promotional period but forgot to cancel. Or maybe you have a gym membership that you no longer use. Go through your monthly credit card or bank statements to look for recurring subscription fees. Once you have canceled all unnecessary services, put this money into your savings account.
Sign up for rewards and loyalty programs
Sign up for discount cards at grocery and drug stores near you. Regular use of these programs can help you save money at checkout or potentially earn rewards on future purchases. Among other things, Payback is a very good rewards program where you can collect points and save with every purchase. Points can be exchanged for rewards and vouchers. With the free AmericanExpress Payback Card, you collect double the points.
Pay with cash
By using cash instead of a credit card, you will also be able to save money. Paying by card tempts you to buy more because there is no limit. On the other hand, if you only have 30 dollars in cash with you, you think twice about what you really need.
What tips have worked best for you and how much money have you saved? Leave us a comment if you could quickly save 1000 dollars.
