Do you want to keep a little more every month? Then you should see if you can save on fixed costs . This may not be possible with everything, but saving money on fixed costs is certainly possible.
What is saving on fixed costs
By fixed costs we mean bills that recur monthly. Think of the rent or the mortgage , groceries, insurance, subscriptions, transport costs and energy. You have to pay these costs monthly to keep shelter, to be properly insured and to be able to put a meal on the table in the evening.
In total, the fixed costs can be a considerable part of your monthly income. Most of them spend most of their income on fixed costs. How do you make ends meet? The 6 tips in a row.
# 1. Save on fixed costs such as the mortgage
When you live in a rental home , it is difficult to save on the monthly rent. These are fixed costs that you cannot change much about, unless you move to a cheaper rental home. However, this often also costs money.
If you live in an owner-occupied home, there are options to save on the mortgage . There are people who take out a mortgage and never have to worry about it afterwards. This is unwise, because a mortgage consists of part repayment and part interest. It is precisely the interest rate that has been subject to significant changes in recent years.
If you took out your mortgage years ago, you will undoubtedly still pay a high percentage of interest, while the mortgage interest rate is currently heading towards 0%.
Therefore, consider transferring your mortgage . You then use a much lower mortgage interest rate. With a few percent less mortgage interest you can save tens or hundreds of euros every month.
# 2. Cheaper groceries
You cannot get out of shopping, and certainly not as a family with children. Yet you can indeed save a lot of money on groceries.
There are some basic rules to adhere to if you want to shop cheaply.
- It is well known that when you go shopping on an empty stomach, you come home with way too much. So make sure you do your shopping when breakfast or lunch is over.
- You will save a lot on fixed costs if you visit the cheapest supermarket and only buy private labels. Almost all products with an A-brand are also available as a private label and usually many euros cheaper. You have to take the trouble to find private labels. Private label products are often on the bottom shelves.
- Finally, it is wise to make a shopping list and not deviate from it. You can then be sure that the groceries stay within your budget and that you don't spend too much on groceries that you don't actually need.
# 3. Cancel subscriptions
Over the years you can take out a lot of subscriptions for anything and everything. Add all the subscriptions together and you see that your subscriptions now also cover a large part of your fixed costs.
Do you want to reduce your monthly costs? Then it doesn't hurt to check for each subscription whether it really works for you.
- Magazine subscriptions can sometimes add up considerably. Each family member can have their own magazine. But is the magazine flipped through once and then put aside? You can then safely cancel the subscription . The subscription is then not so important that you have to continue it.
- Digital subscriptions are also increasingly common. Think of a subscription to Netflix or Spotify. It's great that with Netflix you have a wide range of films and with Spotify an inexhaustible source of music files, but you do wonder how often you use these services. Is the monthly subscription quite high, but you still want to continue to use a service or a magazine?
- One option is to share the subscription. Share the magazine with someone else who is also interested in this and with online services you can often take out a group subscription. This way you quickly save half on subscription costs.
# 4. Energy costs
You need gas, water and electricity on a daily basis, so you cannot avoid an energy supplier. But don't think that saving on energy is impossible.
After a year of purchasing energy from an energy supplier, you are no longer bound by a contract and you can switch to another energy supplier. It is certainly advisable to regularly visit various comparison websites and compare the different energy suppliers. This way you can choose the cheapest energy supplier.
Do you want to save permanently on energy costs? Then this initially requires an investment. For example, you can have your house insulated and replace all old lighting with LED lighting. This saves you considerably on energy costs because you need to use less energy.
# 5. internet television and smartphone subscriptions
Hardly any household can do without internet anymore. In many cases, a package is taken out with a provider that includes a subscription for internet, television and fixed telephony.
In itself, a package subscription is a good choice, because it usually costs less than if you take out all subscriptions separately.
It is mainly the television subscription and the internet that you can be expensive with. Fixed telephony is automatically included by some providers.
Are you not a television viewer? Then you can consider not taking a television subscription. After all, if you already have an internet subscription, you can watch almost all television programs online. Also check whether you actually need fast internet. With a step back with your internet subscription you can save quite a bit without losing too much speed.
A subscription for your smartphone can also be expensive. Do you notice that you have leftover MBs every month? Then this is a sign that you can safely take out a cheaper subscription. Smartphone subscriptions that include a smartphone are completely expensive. Try to avoid these types of subscriptions, especially because if the value of the smartphone is $ 250 or higher, your subscription will be registered with the BKR .
It is very wise to take out a SIM only subscription, so without a telephone or a prepaid card.
# 6. Check your insurance policies
An average family pays hundreds of euros in insurance every year. If you want to save on fixed costs, check all your insurance policies.
Health insurance is mandatory, but there are large price differences per insurer. You can switch once a year. Do this if you find a cheaper insurer. Are you not using too much care and certainly no care that falls outside the basic insurance? Then cancel your additional health insurance.
Also check your contents and home insurance. There are insurers that offer a total package so that you are cheaper than taking out both insurance policies separately.
View your car insurance. Is your car several years old and do you have all-risk insurance? This is actually not worth it anymore. The premiums you pay will be higher than the value you will receive for your car when this is declared a total loss.
In fact, for all insurance policies, you have to 'shop around' a lot and compare a lot. Don't be afraid to switch, because this is the most normal thing in the world today.
Do you have any good tips? Let us know and we will add them here.