We’ve recently shared a couple of tips and tricks with you on how to effortlessly make or save money at home. That wasn’t that hard, was it?! Kudos to you!
Now that you made an extra Euro or 2...okay, we hope it’s a bit more than that, it’s time to talk about savings. This is always an important topic and it will definitely help you in the long run. Why is it even more important today? Well, articles like this one make it very clear.
Let’s make a super easy plan for long-term savings!
Step 1 - Create a budget 🗒️
This is probably the most important step. It’s also a step most of us avoid. One of the things I hear from my friends all the time when I ask them why they don’t have a clear budget is “I wouldn’t know how to make one anyway”. For some reason, we imagine making a budget as making this big Excel sheet with hundreds of numbers that give us a headache.
That doesn’t have to be the case with bunq. It’s actually quite interesting how easy budgeting is if only you have the right tools. With 25 sub-accounts and instant notifications about each payment, having a clear overview of where your money goes couldn’t be easier. Moreover, insights on your spending habits can help you save up to 10%!
Having a specific budget for groceries, subscriptions or fun with friends is a great way to not go overboard and stay in control. Split them all up in separate sub-accounts, match your preferred card to each of them, and you’re ready to spend in a safe and controlled way!
Step 2 - Organize your finances automagically 🔮
Here’s another common complaint I hear: “Budgeting takes so much time!”. We know, we realized that too. That’s why bunq splits your income automatically, right as you receive it! You only do the dirty work once, we learn your preferences, and the next time you get paid, it will all be done for you!
Why is this so important? It’s easy to slip away and say “maybe just this one month I won’t save for my goal and shop more instead”. However, if you have to actively reverse those savings, you may think twice about it and end up saving more money!
Automatically sorting your salary doesn’t only save you precious time, it also helps you stay on track when your first instincts are messing with your plans.
Don’t worry, you can always still move your money around, of course.
Step 3 - And we’re on to those long-term savings 🤑
Once your budget is clear and nicely split, it becomes much easier to focus on the ultimate goal: long-term savings.
Don’t get scared thinking you need to reach some high amount and have no idea how. You’ll be amazed to see how quickly small savings add up to a great number. Since I’m not always great at putting enough money aside, one of my favorite things about bunq is AutoSave. I save with every single purchase I make. For example, if my groceries cost € 21.20, € 0.80 will automatically go into my savings account. Pretty sweet, isn’t it?
The best part about a savings account at bunq however is the whopping [.geotargetlygeocontent1681395996476_default]1.56%[.geotargetlygeocontent1681395996476_default][.geotargetlygeocontent1681395996476_content_3]1.56%[.geotargetlygeocontent1681395996476_content_3][.geotargetlygeocontent1681395996476_content_4]1.56%[.geotargetlygeocontent1681395996476_content_4][.geotargetlygeocontent1681395996476_content_5]1.56%[.geotargetlygeocontent1681395996476_content_5][.geotargetlygeocontent1681395996476_content_1]2.46%[.geotargetlygeocontent1681395996476_content_1][.geotargetlygeocontent1681395996476_content_2]2.55%[.geotargetlygeocontent1681395996476_content_2] interest* you receive! It’s an interest rate higher than what you’d get at any traditional bank, meaning those small additions the likes of € 0.80 every time you do groceries or buy a cup of coffee really start to add up after a while. Not only can you use bunq to save money automatically, with our high interest rate you can effortlessly watch your savings grow each and every month.
One more quick tip about savings. Try to always have a goal that you really believe in and can’t wait to see it happen. It’s easier to save for things you can envision and are really enthusiastic about. For example, my holiday savings goal is personalized with a picture of my favorite beach in Koh Lanta, Thailand - that helps me to stay on track!
What are you saving for nowadays? Share this plan to help your friends reach their goals! 🌈
* MassInterest is 1.05% for businesses. All new bunq users residing in Germany receive 2.55% interest on their savings in the first 4 months. After the first 4 months, our standard interest rate of 1.56% applies. This does not apply to already registered bunq users, who continue to earn 1.56% on their savings at bunq.
