Inflation: The Ten Best Savings Tips

Stuttgart.Energy, building materials, food – almost everything is currently becoming more expensive. Falling purchasing power actually makes the Germans poorer. It is so much the more important to keep the budget and not waste money on useless expenses. It does not even require the great effort to achieve this goal, which the investment platform “Weltsparen” found out.

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Inflation remains high at 7 per cent

Higher energy costs are tearing holes in people’s household coffers, but food prices are also nearing average.

In a study, they examined how much money the Germans spend on avoidable expenses in everyday life and found out amazing things. On average, everyone wastes 1.12 euros an hour. The sum of avoidable expenses per. day is just under 27 euros – which is equivalent to a small purchase. If you add up the total year, it becomes really interesting. According to experts, on average more than 9,800 euros can be saved.

“The potential for savings in everyday life is enormous. With a few tricks, you can quickly save thousands of euros a year, ”says Dr. Tamaz Georgadze, co-founder of “World Savings”. According to the expert, it is worth taking a closer look at everyday life and questioning your own behavior and the associated expenses.

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Here are the top ten tips:

1. Check electricity and gas contracts

Although it is currently more complicated to switch electricity and gas provider than it used to be, the much talked about customer loyalty is usually not worth it. If you switch to a cheaper rate, you save around 90 euros a year on electricity costs. According to “Weltsparen”, this is the result of a calculation based on data from the Federal Network Agency’s 2020 monitoring report. The market is currently in turmoil due to the Ukraine war. Still, it does not hurt to keep an eye on him.

2. Mobile phone: The discount tariff is sufficient

Everyone can also save on communication. Keywords mobile phone. Too expensive tariffs with unnecessary amount of data offer a great potential for savings. With cheaper alternatives, for example from discount brands, you can save an average of 492 euros a year. Incidentally, the network coverage at Billigheimer is no longer worse than the supposed premium brands – both use the same infrastructure.

Account Management: It’s free

It is also worth taking a look at your current account and the associated account management fees. According to research from the financial platform Biallo, banks pay on average almost 79 euros a year for this. Although fee-free accounts have been declining recently, online banks still have them. Comparison portals like Biallo.de can help.

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4. Cancel unused contracts

It gets painful for series and movie fans: How many subscriptions to streaming services do you really need? According to a calculation from the service provider Volders, the Germans spend more than 195 euros a year on Netflix, Amazon & Co. Checking one or the other contract should also result in potential savings here.

5. Gym: Do they really go?

Of course, sports are healthy and important. But for many, there are still good intentions. A training contract is of no use to (you) if you do not train regularly. Be honest: If your weak self is too strong, cancel your contract. According to “Weltsparen”, you pay an average of 42.10 euros per month and thus more than 500 euros per year for an unnecessary membership in fitness studios. By the way: You can also play sports in front of your own television. There are thousands of video courses on video services like YouTube – and they’re completely free.

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6. Saving potential also when eating

There is also potential for savings in the food sector. Buying more than you can spend is not only a waste of raw materials, but also costs money. According to data from Welthungerhilfe, every German statistically throws out almost 55 kilos of food and thus more than 230 euros in the true sense of the word. Deliberate shopping with a weekly menu can help to avoid this.

7. Water: Kraneberger is enough

Do you also belong to the vans? At an assumed price of 50 cents per. liters, the average German raises mineral water worth 547 euros home each year. On the other hand, if you quench your thirst for tap water, it costs only 2.19 euros with the same consumption and will save a total of more than 544 euros.

Breakfast: Why not Henkelmann?

A food trend that helps to save is the so-called “meal prep” – ie pre-preparation of meals for the lunch break in the office. The effort is worth it! On average, everyone can save more than 3,900 euros if they do without the daily business lunch and bring their own meals in the 249 working days. An additional 500 euros will be added if the beloved “coffee-to-go” is no longer available.

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9. Smoking: stop smoking!

It’s easy to say, hard to do, but it’s worth it: If you leave the steaks alone, you can save more than 1,300 euros a year with half a pack a day. And yet the health benefits are invaluable.

10. Tax return: annoying but rewarding

The tax return does not necessarily belong in the category of “savings potential” – but in the end, there is usually money that ends up in your own account. It is worth submitting, according to the Federal Statistical Office, the refund to taxpayers is 1051 euros.

Admittedly, not everyone will be able to implement all the savings for themselves. Very few achieve the potential savings of almost 10,000 euros. But the examples show that conscious consumption pays off. “People do not understand what a great source of income lies in thrift,” said the Roman philosopher Cicero.

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The statement was as true 2000 years ago as it is today.

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