Be honest: do you stick to these rules?
Saving up
We start with one of the most important things on this list: saving! As an adult with monthly recurring expenses it is necessary to have enough cash on hand just in case and so it is important to save. Experts advise setting aside at least 10 percent of your net monthly income.
Think about your financial future
Do you have any idea whether and (if so) how much pension you have already built up? And whether this is enough to live comfortably in your old age or if you have to build up an extra pension pot yourself? The sooner you start doing that, the greater the chance that you will have enough money later on to make ends meet.
Have an overview
Not only is it wise to have the vision of the future clear, it is also smart to have your current income and expenses in a row for yourself. How much is coming in monthly? What do you spend (too much) money on? What could you possibly want and save on?
Know how everything works
Of course it will save you time and effort if you have a partner or housemate who arranges everything when it comes to the electricity, internet or gas bills or always handles taxes, but it’s still important that you also know how this works. Who knows, you might ever find yourself in a situation where you have to do it yourself. Also take a look at your health insurance. Does your job perhaps offer collective health insurance? This can also save you a lot of money.
Don’t be tempted by small prices
You’ve probably bought a shirt because it was nice and cheap. But would you have bought the same item of clothing if it was more expensive? Probably not. Before you buy something, always think about whether you really want it and think, for example during the sale, whether you would also buy the item if you had to pay the full price for it. If the answer is no, chances are you will not wear the item very often and that it’s actually a waste of money.
Quality over quantity
Don’t buy ten shirts that are nice and cheap, but go for some really good items that are (perhaps) a bit more expensive. Chances are that you will continue to like these items longer and that you won’t have to buy something new so quickly. Not only does this save you money, but is also better for the environment. Win win!
