How do I stick to a budget

Budget: on the trail of the money guzzlers

Tip 1: taxes

On the basis of the tax return, estimate how high the next tax invoice will be; it is usually 15 to 20 percent of net income. Then transfer one twelfth of this amount every month to the tax office by standing order. The office pays interest on the amounts transferred too early. In many communities, the interest rate is higher than it would be on a bank account.

Who is in arrears with the payment Tax debt What if I can't pay on time? should make a written payment proposal to the tax office. And: Never take out a loan to pay taxes - because the interest on arrears at the tax office is many times lower than the interest on a loan.

Tip 2: go shopping

Take advantage of the sale. Above all, savings can be made on bed linen, household items, children's clothes and sporting goods. But: Where clothes in all sizes and colors are offered on stands, it is not about reduced bargains, but about cheap goods specially made for sale, which should put the customer in the mood to buy.

Be careful when shopping on the Internet: If you order goods from abroad, there may be shipping and customs costs as well as shipping costs. You also bear the risk if something is damaged or lost. Be careful also with super cheap offers and if unknown providers Fake Shop fell for the online shop - what to do? Ask for prepayment.

Tip 3: groceries

Take advantage of promotions and compare prices. Large packs are not always cheaper. Pay attention to the placement in the store: Inexpensive products are usually at the bottom of the shelf, the more expensive ones at eye level. Cook in such a way that there are leftovers - this is an inexpensive lunch for the lunch break during work. If you freeze leftovers, you will always have a quick and tasty “ready-made menu” ready.

When shopping online, delivery charges are high. If you want to have groceries and housewares delivered to your home, it is best to team up with neighbors.

Tip 4: insurance

You do not necessarily have to insure damage events that are rather unlikely and that you can bear financially yourself. What types of insurance do you need - and which not? In any case, household contents and liability insurance are recommended.

Comprehensive car insurance is only worthwhile in the first few years. You can do without occupant and bonus protection insurance. Before taking out baggage, travel cancellation or breakdown assistance insurance, check whether you are already covered by household insurance, cover letter or traffic club. Do not conclude long-term contracts. So you can switch if you find a cheaper offer.

Tip 5: credit and loyalty cards

They tempt you to live beyond the means. Many customer and credit card holders are either in the red or in arrears with paying their bills. The banks also incur interest on arrears of up to 12 percent - and steep installment surcharges when paying off. In addition, frustration is guaranteed: Before the clothes, the holidays or the new music system are paid off, new offers are already luring on the market. In the case of so-called debit cards, the amount is charged to the account immediately. This avoids debt interest and dunning fees due to payment arrears.