Job loss, short-time work: Where a consumer in crisis can save money

short-time working, loss of job, loss of revenue: The Corona-crisis makes many of the financially noticeable. The outputs can, with simple methods of control. A

BUSINESS
29 July 2020 Wednesday 18:26
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Kristen Rainey

Job loss, short-time work: Where a consumer in crisis can save money

short-time working, loss of job, loss of revenue: The Corona-crisis makes many of the financially noticeable. The outputs can, with simple methods of control. A: more often with cash shop.

Why can that help? The reason is relatively simple: Who pays at the cash register on a regular basis with his card, loses fast the Overview. It also runs the risk, to make more spontaneous purchases. This can lead to frustration later when you look at the statement about unnecessary expenditure. For some, it may be better to pay with cash.

"but That's a question of the type," says Sally Peters from the Institute for financial services (iff) in Hamburg. Useful could be also to put themselves in the shop a certain Limit. And most importantly: conscious shopping and conscious consume. "Who does this avoids unnecessary expenditure and saves money," adds Thomas may, by the Verbraucherzentrale Bremen.

Five tips on where to save money can check out

contracts: electricity, Gas or Smartphone can account for month-to-month a lot of money to waste. Those who want to save, look at existing contracts carefully. Everything still fits on the current life situation? There may be providers with more favorable terms? "Often it expects to obtain several offers and compare them with an existing contract," says Peters.

when it Comes to the cost of energy, can relieve a budget by switching to a cheaper provider of the household budget: According to the comparison portal Verivox for example, customers can save an average power consumption of 4,000 kilowatt-hours with a currency exchange, an average of 256 euros per year. This FREE Service reduces your electricity bill drastically (display)

The FOCUS Online Partner remind.me finds the cheapest provider, and even takes care of the Contract changes for you.

Here is personal saving potential check

Also to cell phones and fixed-line charges need to be examined on a regular basis. This need not always be a changing. "Often there is the Option to switch to the previous provider, the Tariff and save money," says Peters.

savings plans at banks or vaults to customize

savings rate adjust: save on a Regular basis in good times makes sense. In a crisis, but it is quickly too much. Anyone who has a Bank or ETF savings plan, you should ask if he can reduce the Rate. "But other savings products, it is often possible for the savings rate to adjust," explains Peters.

pension products can usually post a temporary basis will be exempted, explained may. Here, the following applies: consumers should contact the provider. May be this can hours the Rate also. "But be careful, at some point the money becomes due, and for that, consumers must be prepared," says may. The ETF savings plan comparison of FOCUS Online (display) to find the right ETF savings plan, to note

Important: Attractive savings contracts should not be quickly resolved. "As a result, bonuses may be lost," warns Peters. Differently it looks, if the contract only brings little return, or rather expensive. "Here should be thought about a termination," advises may.

account fees check

account fees check: The time of free current accounts will pass gradually. More and more banks are charging account fees. The margin is according to the findings of the Foundation's test was significant: it ranges from free to just under 250 euros per year. More than 60 Euro per year should not cost an account for Online use, however, rates the tester.

to gain an Overview, it helps to look in the Fee schedule. The banks need to have a list of all the costs, fees and interest. Bank customers can then look first at your institution, whether there is a more favourable account.

anyone Who finds there nothing, you should think about a change. "But beware," says Peters. Consumers should be aware of the services that offers a different Bank, and current Bank compare. Who, for example, changes to a direct Bank that pays maybe less charges, you must take under certain circumstances, but long distances to the nearest ATMs in buying. With FOCUS Online the best checking accounts compare (display) current account comparison 2020: find The best account

loans refinance: The line of credit is convenient, but expensive. "The interest rates for the line of credit are sometimes outrageously high," says may. Up to 13 percent interest depending on the Bank.

Those slides again and again with your balance on the checking account into the negative, should think about an installment loan. "This can be financially much more favourable," says may.

A comparison: According to the FMH financial advice to the overdraft interest rate is currently at an average of 9.24 percent. For an installment loan with a term of 36 months, only dropped to 3.96 per cent, however, in the cut due. Even in the case of a term of 60 months, the interest rate for the installment loan is still on average at 4.03 per cent (as of: 22.07.2020). Here, loan rates compare quickly and easily (display) To Focus Online loan rates comparison

if In doubt, consult: is no longer sufficient income and assets permanently in order to the arrears balance, one speaks of over-Indebtedness. In this case, it makes sense to get help. A possibility: first The topic with friends or family discuss. If no solutions are found, can discussions help to consumers Central or debt counselling services. The sooner the problems are solved, the better.