Negotiate agreements

Phone, electricity, internet, TV, credits, insurances ... Our everyday lives are full of agreements. On comparation sites online you can find out what supplier to use. Here, you can make major cost cuts.

Example: You have a non-collateral loan for SEK 100.000 with the effective interest rate of 9,5%. That means your interest cost is SEK 9500 per year. By selecting another bank you manage to lower the effective interst rate to 6%. Your new yearly interst cost is now SEK 6.000, maning you have cut costs by SEK 3.500 per year.

Cut unnecessary spending

A pack of cigarettes here and a coffee there. Our impulse spending tend to amount to larger sums in the long run. Take notes of all you minor spending for some time and calculate what the yearly total would be. Could these money be used for something more fun? If yes, make a deal with yourself to save the same amount instead. 

Example: You buy seven coffees a week to the cost of SEK 35 each. Skip these and cut costs by SEK 12.740 per year.

Cut your food costs

Buying more food in one go can cut your costs dramatically. You can buy larger packs to lower prices, and would make less impulsive purchases if you shop less oftern. If you also adapt your meal plan and eat what is currently in saeason, you can cut costs even more. Bring a lunch box to work to really get the most out of your money. 

Example: You have restaurant lunches five days a week, and pay on average SEK 80 per lunch. The monthly cost is about SEK 1.600. By cooking lunches at home  to a cost of SEK 20 per meal, the cost is lowered to SEK 400. A cost cut of SEK 14.400 on a yearly basis.

Have a shop-stop

If you only make the purchases you really need, you can save more money. Set your own rules for what is allowed to buy. Not only will you spend less, but will also have more time to do other things. 

Consolidate your loans

Du have expensive loans or credits? By consolidating these you could get a lower interest rate and thereby lower your monthly cost.  

Open a savings account

Start your everyday savings today and put your extra money into a savings account that gives you interest. If you set up an automatic transfer, your savings will be handled without you needing to think about it.