4 tips to save money fast and not be affected by inflation

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In fact, this year, the Spaniards will end up with 800 euros less in their pockets .

To protect your personal finances and your savings from inflation , these 11 tricks to save money fast will help you to be more reactive and strengthen your emergency cushion .

1. Review your budget

In times of economic hardship, budgeting and expense tracking are the best tools for managing money and planning risk scenarios . 

With the escalation of inflation , many of your daily expenses will have skyrocketed ( electricity , gasoline , food …) and you can easily detect it by comparing the expenses of a month with those of the previous ones . Review each category and cut out all those that are making a dent in your accounts.

If you still do not have a projection of your income and your expenses , you can create a budget in Excel quickly and easily .

2. Eliminate ant expenses

Even if you don’t have a budget , you are able to identify the ant expenses that you fall into practically every day. Coffee, small vices, compulsive food purchases…

These expenses usually go unnoticed because, in each payment, the amount does not usually exceed 5 euros. What is 5 euros to treat yourself? Practically nothing. But 5 euros a week is 20 euros a month. That is, about 240 euros a year.

If you are a coffee lover and need several cups a day, you can choose to take a thermos to work. With a single coffee pot first thing in the morning you can survive the entire work day. If your little vice is tobacco, it is better to stop smoking . And, for compulsive purchases, give yourself up to 72 hours to find out if you really need that thing that has caught your attention so much.

3. Cancel subscriptions you’re not using

Subscriptions to streaming platforms and some memberships can also be considered ant expenses . Although you do not have to radically eliminate them from your budget, you could cancel those that you are not using lately. 

In the end, this type of subscription does not have advantages for seniority or commitment to permanence. If one month you stop paying one of the 4 platforms you have, you won’t notice it, but your future self will appreciate those extra 10 euros. 

4. Use the cheapest rates for fiber and mobile

Hiring a new fiber or mobile phone rate is one of the most tedious tasks of a move. For this reason, we always end up marrying the best known operator.

Instead, if we spend some time comparing the different carriers , many offer the same as the big telcos for much less money . 

Carla Owen

Carla Owen (Guest Editor) studied journalism at the University of Alaska Fairbanks. She has written and edited for a number of online publications, including training new writers for multiple news outlets. Beth has also written for professional medical practice management journals using her 20-plus years experience in the health care field.

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