Saving Everyday Life A working tip list – Loans

Often you will hear all sorts of everyday saving tips that are easy to come up with: cancel magazines, buy the cheapest, pick berries, eat beans and cabbage … However, these tips don’t really save you money, and some are time consuming. This text comes with a damn real list of saving tips that will actually help you save everyday and even after you have canceled your leaves and become a devoted cabbage eater.

Of course, saving requires income. If you live on the poverty line, here are ways to earn extra income. If a few lures are already spinning on your pocket base, you may want to remove them all. There are better options than having your own bank’s zero interest savings account.

You think you have enough competition

The boys of the electricity companies will surely remember mentioning competing for electricity in the mall as you pop out. Insurance is also often tendered out, but for the most part, you forget the parts of the economy where you could save – or even earn the most – in everyday life. You can change jobs or ask for a pay raise, which can lead to further disruptions. However, when done badly, it can also lead to termination.

The mortgage may be tendered at the time of its takeover by perhaps a few banks. However, who will prevent you from renegotiating your loan margin with your own bank or another bank after a couple of years or when your life situation changes so that you can get a better loan margin? For example, a regular job in the healthcare sector guarantees a lower margin than entrepreneurship in an insecure sector.

At best, a couple of phone calls and a little research can save you thousands of euros: for example, in a $ 90,000 mortgage over a 20-year period, changing the effective annual interest rate from 1.75% to 1.5% will save you nearly $ 2000 in interest expenses.

You trust a mortgage is always cheaper than a consumer loan

At some point, the owner-occupier, or most Finns, are forced to renovate their apartment or the money put into the apartment is lost. However, it is not a good idea to extend your new home loan to cover, for example, home renovation, but sometimes it is worth taking out a separate consumer loan. A mortgage has a lower interest rate but a longer loan period. In the long run, the costs can be much higher because a long loan period means more interest, even if the interest rate itself is lower. It is also worthwhile to compete on consumer credit, which can vary widely. Everyday savings can be achieved by eliminating hidden costs.

Rest rate may be 6-8%, which is even more than cheaper consumer loans. Don’t settle for what the lenders say, but count it yourself or ask someone familiar with your loan bills for help. Figures and statistics are easy to embellish if presented for example in the short term.

Know why you save – and save thousands

Saving in everyday life is done by questioning one’s desires and needs. The temptation to buy yourself helps to keep yourself busy.

However, no one is motivated to skip the $ 3 coffee and chocolate bar because ” you should save for a bad day ” or ” retirement savings should start ”. Attitudes towards money and life have to change. Saving may seem pointless if you only get $ 50 a month. If one understands how the interest rate phenomenon works, one realizes that saving up to € 10 is important.

However, the truth cannot be twisted: to get money for one purpose, it cannot be put into another at the same time. So saving is about prioritizing your values. 

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