18 Saving Money Tips 2023 – Over $1000 Savings per year

In this article I present you 18 current saving money tips for the year 2023, through which you can save over $1000 per year or even get money with little effort.

Heed these tips, or a few of them, to finally have more money available and invest the money you save.

Saving forms the basis of wealth accumulation.

1. Change of Energy Supplier

  • Change electricity supplier
  • Change of gas supplier
  • Annual savings approx. $500 per year

2. Change of the Internet Provider or the Tariff

  • Annual savings approx. $100 per year

3. Change of Insurances

  • e.g. Change of health insurance: annual savings approx. $100
  • e.g. Change of liability insurance: annual savings approx. $10

4. Change of the Account

  • e.g. from branch to direct bank
  • Annual savings approx. $50

5. Cancellation of superfluous Insurances

  • is for example a household insurance in the student flat share really necessary?
  • Annual savings approx. $50

6. Collecting Payback Points through the Payback Program.

  • Annual savings approx. $50

7. Buy used stuff

  • Acquisition of used furniture, washing machine, etc. via platforms such as Kleinanzeigen or Ebay
  • Buying a used car
  • Purchase at flea markets
  • Household liquidations
  • Purchase in second hand stores
  • Bulky waste
  • Annual savings approx. $200

8. Couponing

  • Annual savings approx. $50

9. Cheap vacation/travelling

  • Vacation in the off season
  • Book via: Urlaubspiraten, Urlaubsguru etc.
  • Cheap flights with: Ryanair, easyJet ec.
  • Book cheap accommodation via: Airbnb, a&o Hostel etc.
  • Travel cheaply by train: with BahnCard, use of (super)saver fare, country ticket with several people
  • Cheap bus travel: with BlaBlaBus, Flixbus
  • Cheap carpooling: BlaBlaCar
  • Annual savings approx. $200

10. Cheap Food with Schlemmerblock

  • Annual savings approx. $50

11. Renunciation of Brands/Purchase of No-Name Products

  • Clothing
  • Food
  • Annual savings approx. $100

12. Keep Budget Book

  • This is how you keep track of your finances.

13. Minimalism as a way of life

  • With a healthy “less is more” attitude, you can save quite a bit. It doesn’t always have to be the latest cell phone.

14. Leaving the Church

  • Save church tax
  • e.g. with Catholics, Protestants
  • Annual savings approx. $200

15. Shared Streaming Account

  • e.g. Netflix, Amazon Prime
  • Annual savings approx. $50

16. Move to a more Favorable State or from the City to the Countryside

  • Cheaper rents

17. Emigrate

  • Lower cost of living
  • Annual savings vary greatly depending on the country, several thousand dollars savings per year possible

18. Student Tips

  • Apply for BAföG (only possible in Germany)
  • Loss carried forward (only for germans)

The annual savings values given are conservative estimates and are based on an unmarried single person. Of course, you can save significantly more or less. Of course, some of the values are strongly income-dependent (such as health insurance, church tax). This means a high earner will absolutely save more than someone with a lower income if these suggestions are heeded. Relatively speaking, however, both save about the same amount.

Even if you don’t implement all of the above savings tips, you can save significantly more than $1000 a year with relatively little effort.

Anzeige

The next vacation is thus secured in any case.

That should be motivation enough to start saving, right?

Here is the table with the estimated annual savings:

Current Saving Money TipsAnnual savings
Change energy provider$500
Change Internet provider$100
Switch insurances$110
Change account$50
Payback$50
Buy used$200
Couponing$50
Vacation$200
Gourmet block$50
Brand abandonment$100
Church exit$200
Shared streaming account$50
∑ $1660

Leave a Reply

five + five =