Saving is not always easy. However, there are a few tips and tricks that can be easily applied in everyday life.
Many people often run out of money, especially at the end of the month. In addition to renting, car and mobile phone costs, you rarely want to do without something in your free time.
However, if the washing machine breaks or the car needs repairs, it is advisable to have savings on such unplanned expenses. And a nest egg is also useful for times of crisis, such as now during the corona pandemic.
As a study by Erste Bank showed, 80 percent of savers in Austria put their money in a savings account. Another 60 percent have a home loan and savings contract, 44 percent park their money in the current account and 28 percent use securities.
In order to save in everyday life, however, you don't need any complicated arithmetic formulas or a savings account. There are simple methods that can save you hundreds of dollars a month.
The € 5 trick works pretty simple: every time you have a € 5 note in your wallet, you put it aside. The individual five euros usually don't hurt and you hardly notice in everyday life that they are missing.
If you use this trick every day, your money box will accumulate a fair amount of cash. In this way, you can save several hundred euros within a year. If you also add one and two euro coins, the amount adds up even faster.
Another efficient method is the “One Euro Challenge”. You can save exactly 465 euros in 30 days. The system works like this: On the first day of the month you put one euro in the piggy bank, on the second day it is two and on the third day three. If you continue the amount on the following days, you will have saved 465 euros at the end of the month.
You can also use the method on a weekly basis. In the first week you put one euro aside, in the second two, etc. After a year you have 1,378 euros at your disposal.
