Saving money in daily life
So, we know that we often unnecessarily spend money in daily life without realizing it. Great, because acknowledgment is the first step to improvement. Let's now become aware of which saving levers we can operate in our daily spending.
Avoiding spontaneous purchases
In the era of screen dictatorship, we are constantly bombarded with information and advertising. Every day, social media show us what we don't yet own but supposedly need for complete happiness. The result: spontaneous impulse purchases. Exclaimer: Complete happiness often remains elusive, and the account isn't happy either. To avoid this, set a limit: don't make spontaneous impulse purchases exceeding 50 CHF right away. Instead, wait a week before making the purchase. If you still desire the item after seven days and have thoughtfully considered its value, then you can confidently proceed.
Saving money on mobility
Mobility is often a significant cost factor in daily life. But here, too, you can consciously reduce some costs:
Simple but effective: Use a bike for short distances and public transport for longer ones. Leave the car at home if possible. This saves money and CO2. Muscles and good karma are the icing on the cake.
See AlsoStrategic Wealth Building: Practical Tips for How to Invest Money WiselyPractical Techniques to Increase Savings in a Challenging Economy. : Saving for Wealth'Spring cleaning' for your finances: 12 money moves to make right nowWealth Building 101: Effective Techniques for Investing Your MoneySharing is caring: If you only need a car occasionally, you can use car-sharing apps. Alternatively, team up with a friend and share the use and costs of a car. This can lead to significant savings and also benefits the environment.
The early bird catches the worm – or in this case, the super saver ticket! Already planning your next adventure? Perfect! Then keep an eye out for public transport discounts early on. Many SBB routes offer saver tickets with discounts of up to 70% available on the SBB website or directly in the app, 6 months to just before the trip. But hurry: The contingent of saver tickets is limited and it's first come, first served.
A whiff of a Swiss Generalabonnement: For those who want to use public transport within entire Switzerland for a day and save a lot of money, there’s the “Municipal Saver Day Pass”. Many municipalities offer these, often at a lower price than regular day passes, and they can be purchased 6 months in advance. However, a small downside: The participating municipalities reserve the right to limit the sale of saver tickets to their own residents - though not all take advantage of this. Inform yourself here about availability, participating municipalities, and other regulations of the Municipal Saver Day Pass.
Cancel unused and overpriced contracts
Who hasn't experienced this? In January, we stride into the gym with our chests puffed out and an overdose of "New Year's resolutions". The subscription is quickly signed, and we cheerfully say goodbye until next November. The same goes for streaming services: The new season of the favorite series is available only with a specific provider. Without much thought, the subscription is signed, and the series is binged in one weekend. Meanwhile, the subscription quietly nibbles away at your account for months. Saving money looks different.
Let's put an end to this! Set a reminder before each contract automatically renews. Then critically question whether you really use and need the subscription. Also, compare offers from different providers and switch if necessary. This is especially worthwhile for health insurances as well as internet and phone providers. By doing so, you can save a lot of money.
Saving money in the household
In recent years, electricity prices have skyrocketed. A trend that is clearly reflected in our utility bill. Food prices are also steadily rising, shaking our household budget. The good news: Small behavioral adjustments can save you a considerable sum of money. How you can effectively reduce your household expenses is revealed in our article “Saving Money at Home: Your Guide to a Budget-Friendly Household”.
Saving money through smart investing
Let's move on to the last tip: Invest smartly and thereby increase your money. Especially in times of low bank interest rates and high inflation, this method is significantly more lucrative than simply saving in a savings account. Because investments in, for example, real estate, index funds, or stocks, ensure your savings don't just sit idly in your bank account but grow over time. However, these investments always come with higher risks. It's essential to familiarize yourself with the topic and consider how much risk you're willing to take. Generally, the longer the investment horizon, the better. So start as early as possible and don't be discouraged if you can only afford a small investment amount at the beginning. Swiss bloggers like PoorSwiss offer practical tips for getting started with investing. So, hit the books & blogs and get started!
Conclusion
There are many more valuable tips for saving money. Since brevity is the soul of wit, here are our best money-saving tips at a glance:
Get an overview of your income and expenses and critically question your expenditures.
Save first and spend only what remains after saving.
Automate your monthly saving process.
Be aware of what you spend money on in daily life and take action - many expenses can already be reduced with little effort.
Educate yourself about smart investment strategies and let your savings work for you.
And now: Have fun saving money!
