Saving

Saving is one of the most important financial habits of all. It simply means: don't spend everything you have. Instead, part of the money is put aside – for a savings goal, for unexpected expenses or for the future.

For children, saving often starts with a piggy bank: put in a few coins every week and after a few months be amazed at how much has built up. For adults it means putting a fixed amount aside every month – ideally automatically by standing order.

The golden rule: save at least 20% of your income. With €2,000 net, that would be €400 per month. Sounds like a lot? Even €50 a month is a good start. What matters is regularity, not the amount.