Not many Belgians can save: these tips may work | my guide

Every little bit helps and every euro you put aside today may prove worth later when it turns out to be really necessary. Don’t aim for unrealistic savings goals, as you will quickly get frustrated when they seem out of reach.

Vacation stipend or year-end bonus is a welcome addition to the monthly stipend. Try to resist the temptation to spend those sums right away. Or reward yourself with a portion of it, but keep something aside for later.

Personal loans provide a lifeline in uncertain financial times. However, paying it off puts an end to your savings intentions. So check if this particular purchase is really needed. In addition, try to specify the term and the amount. By way of illustration: a personal loan of 8000 euros for 48 months costs a total of 699.04 euros in interest with the cheapest lender according to Spaargids.be. At €4,000 and for a term of 24 months, the interest drops to €185.84.

advice: Find out the effect of term and credit amount on the interest to be paid here.

For their savings accounts, most banks limit themselves to the legal minimum interest rate of 0.11% (0.01% principal and 0.10% fulfillment). With a lot of good intentions you can call a rag to bleed. However, you do not have to settle this minimum interest rate right away. Some banks offer interest more than six times, without putting your money at risk (the stock exchange).

Wondering where to decorate the best interest? Here you can compare savings accounts

Due to the current low interest rates, more and more people are leaving their money in the checking account. This is not always appropriate for various reasons. After all, you are not entitled to interest at all on the checking account. But perhaps most important is the discipline of savings. After all, you can immediately use the money in your checking account – as opposed to in a savings account – for impulsive purchases in the store. For this reason, it is advisable to transfer a fixed amount to a savings account shortly after paying your salary or income.

With Individual Retirement Savings, you are guaranteed a potential addition along with your statutory pension amount. Anyone who saves for a pension also enjoys a tax advantage of up to 30%. In addition to the tax cut, retirement savings also provide a return. Are you saving with retirement savings insurance? Then the return, unlike an investment fund, is guaranteed.

How can I make sure that my savings pay off without risking?

Eight tips to save more without feeling it

Are you saving through a savings account? You have to pay attention to this