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I want to build up my savings

Is 1 EUR too much? Remember, if you put 1 EUR daily, you will have 365 EUR in one year. Is it too little for the effort? Start doing any of the following suggestions and you will be surprised how much small steps can lead you to big dreams.

Simplest of the simplest

  • Start collecting certain coins or banknotes – e.g. collect any 5 EUR note or 1 EUR coin – put it aside
  • Put aside change each time you shop. Put the saved money in a jar / piggy box and place it in visible place in your house
  • Pay yourself first – Each time you receive your income put aside part of it – start with 5 EUR (equivalent of the cost of 5 breads). Put these money on a separate account/box/jar
  • Save while spending: Put aside some money with every expense e.g. if you pay 15 EUR in a shop put aside 1 EUR additionally aside
  • When picking your wallet to leave the house, empty it of coins and put all change into jar/piggy box
  • Turn on the following option in your bank account: any time you pay with the debt card, your payment amount is rounded up to 1, 5 or 10 EUR (you can choose). This difference (between paid amount and rounded up amount) is put aside to your saving account.
  • If you receive a bonus in your work (monthly or annually), put aside part of it – most people put aside 50EUR.
  • Start searching for Christmas presents [CHANGE TO RELEVANT RELIGIOUS HOLIDAY] in September – before prices rise.
  • To prepare for Christmas, put aside 10 EUR every month starting from July.

Straightforward

  • If you have different income streams, put aside one of them
  • If you have irregular income, every time you earn more than € 1000 (i.e. 1100), put aside this additional amount (for example €100)
  • When the salary hits your wallet, divide it into envelopes: for bills, for food, for everyday spending, unexpected expenses and savings – do not spend more than you have in the envelope. Do not touch the envelope with savings.
  • When you earn more than usual income – put a side half of extra money

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