Finance is about income and expenditure and the goal is to keep as much of the income as possible after the expenses have been paid. The more money you have over the more you can save and also spend on entertainment and things you want to buy. That’s why we run some good savings tips in the blog, so you can get more money over.
Having high incomes is one way to make it easier for you, as you simply have more money to move with and then it is usually also easier to get more money over. However, it is not always the case that high incomes equate to a good economy because it is easy to spend more money if you get more money.
It is fun to have a finer and bigger house, a new and tougher car, finer clothes and go on more long trips
Anyone who gets a lot of money in the household can certainly be tempted to buy these more expensive and finer things and to spend more money on different things and it is precisely this that matters.
Your finances are about what remains in the difference when you have received all the money and paid out all the money, plus the savings. Hopefully you see the savings as a natural part of your budget and put money away directly, but regardless, it is of course most important that it goes plus and that you actually get money over when you have paid bills, etc.
Get more money over by saving
It does not matter if you have a high income or a low income, we all may need some good savings sometimes to cut costs. It doesn’t even matter if you have very good margins and have plenty of money each month. Surely there is no point in spending money on unnecessary things. There is always something better to do with them.
Savings tips can thus be suitable for everyone, whether you have a good job and work hard to get the economy together or if you have plenty of money. I thought I would draw some of my best savings tips that fit extra well in the summer. It may be a little mixed up and you may not benefit everyone – but pick out the ones that suit you and your finances.
By thinking correctly, you can free up some extra money and you can use that money for what you want. For those with an economy with small margins, it is of course nice to be able to save more money and get up the margins, but it can also be that you use saved money to pay off loans faster, for investments or why not for the next holiday trip.
Best summer savings tips
Take the opportunity to review your subscriptions and downgrade
In the summer you are out more and probably sit less on the TV, computer, tablet and even the mobile. Hopefully, at least it is. Then you might also be in a good position to think about what you really need when it comes to these things.
Do I need the channel package I have for the TV right now or do I really have a lot of channels that I do not watch? Do I need the internet so fast or can I get a little lower speed? How many calls and text messages do I have on my mobile phone and can I find a subscription that is cheaper that better suits my needs? Do I have to have both Netflix, HBO Nordic and C-More or can I choose one and dump the others?
You can ask these questions and it is not impossible that the answer will be surprising. That you may not really use everything that you think you use or that you pay for. Do a review of your existing subscriptions and clean up a bit. You do not have to give up anything completely, but switching to a slightly simpler and cheaper alternative is often enough.
You can save hundreds of dollars each month without really suffering from it, since you did not use everything you paid for. If you feel that you are really using everything you currently have, then you can do a trade-off. If you have a poor economy with small margins and really need to save, then you may have to sacrifice something that you really want – otherwise you can think again if it is worth the money and simply keep it.
Keep your car costs down
In the summer you usually drive more car than otherwise, when you go on excursions and trips within Sweden and because you are free it can be more time to drive. Of course, you do not have to travel to and from work, but instead replace it with longer trips. It is also conceivable that you go with a caravan, for example.
You can do a lot to save money on your car and so I thought to throw in a number of good savings tips for the car here. But first, a saving tip that is a bit contradictory. It’s that you might not always take the car at all. If you are going to another city or similar, you may want to consider other means of transport, such as trains or maybe even buses. It can be cheaper and does not need to be more flexible either.
You may need to carry your bag a little longer and may not decide for yourself when to pause, but it can be weighed down by benefits such as not having to find a parking space, not having to pay for parking (can be expensive, especially in big cities), not having to wear the car , avoid congestion tax and the like and can, for example, read a book or stuff with the cellphone on the road instead of sitting and staring at the road while driving.
However, if you want or need to take the car, you can think about these things. If you plan your driving better and drive quietly and smartly, you can save money by lowering fuel consumption. Do not unnecessarily brake and gase, maintain a steady speed and use high gears as much as possible.
You can also save fuel by, for example, having the right air pressure in the tires and by avoiding having something that gives unnecessary air resistance, such as a bike in the back of the car, roof box or just windows open. Of course, it is also good to, for example, service the car regularly, keep an eye on the oil and everything that makes the car stay well, so that you avoid unnecessary repair costs.
Some other mixed savings tips for the car are to compare car insurance properly as you can save a lot of money on choosing a cheap alternative compared to a more expensive plus trying to puncture refueling at times of lower prices. This is of course not always possible, but the more you try the better chance you have to succeed.
Shop smart and cheap
Summer is a time for shopping when you are often traveling and visiting other cities and are happy to go to shops and it may happen that you shop when you are abroad etc. Certainly you may not shop those days when the weather is so nice that you want to lie on the beach but instead you take that rainy evening again when you sit with your computer or mobile and scout on the web shops.
To save money when shopping you can think of the following things. First, of course, you should, as usual, compare prices before buying, especially if you buy something online. This can be done for most things, but especially for more expensive purchases such as electronics, appliances, home furnishings, vehicles etc. The more expensive a product is, the more you can usually save by comparing prices.
You can also look for discounts, offers and discount codes. Instead of shopping at regular prices, you can find extra prices and save money by buying at a better price. With the help of promotional offers or free discount codes you can often get the price down a bit. When it comes to such purchases, you should only remember to buy only what you had originally thought and need, so that you do not buy extra things just because it is on a campaign.
Another tip is to buy things for the “wrong season”, for example, you buy winter things in summer and summer things in winter. When the season is wrong it often gets cheaper and then there can also be big discounts on last year’s gadgets. Maybe you do not want to buy all things that way, but many basic garments and other things can work great.
Always avoid installment purchases and borrow money to be able to buy things you want but don’t have to. It just gets extra expensive and puts more pressure on your finances. Use money that you have available to buy things and if you do not have money then wait and save until you can afford it.
Find cheap travel
Most people like to go out and travel in the summer, preferably to a warmer country. However, it is not so cheap to go on a trip abroad and therefore there are often good opportunities to save money here.
As with the car, the first tip may not be to travel as you first thought. Maybe you don’t need to go to Greece again this year. There are many good cheaper destinations. You can do a lot of fun only in Sweden in the summer by making shorter excursions. Our neighboring countries are also fine. If you really want to get warmer latitudes, you can consider going to a country that is a little more unusual and less popular as it is often possible to get clearly cheaper trips there. Instead of Greece you can try for example Montenegro or Croatia.
You can also think about when to go when it is most expensive when it is in the middle of the high season and then it becomes cheaper before and after. However, it can still be warm and nice a few weeks after the high season is over eg. You can also choose a last minute trip. Then you may not know exactly which hotel you are getting and you cannot plan as much, but it is a way to find clearly cheaper travel. In addition, it can be exciting to travel without having too much control in advance.
Other good things you can do to save money on travel are the following. Choose the destination according to the exchange rate. If the krona is strong against the currency in the destination, you get more for your money. In the same way, you can avoid countries whose currency is strong against the krona so as not to have an unnecessarily expensive holiday. The opposite to booking a last minute trip is to book the trip really early. Then you can often also get a lower price. The worst is to book when everyone else is booking, especially if it coincides with the weather being bad in Sweden.