- So calculate the six clever ideas
- Replace overdraft facility, open free checking account, use overnight money
- Free credit card, fixed deposit and calculate exactly when financing construction
New Year’s resolutions include: Be more economical and don’t give money away. A very popular idea: If you believe the survey institute yougov, this point is in third place among good resolutions. Such a resolution is quickly made, but implementation often falls short. Here come the clever ideas of the comparison portal CHECK24 just right.
This is how the six clever ideas pay off
CHECK24 calculates from a wealth of data and a lot of experience how you can save money with six financial ideas. Because: With loans, accounts and credit cards, consumers often pay unnecessarily high interest rates and fees. That can change if you follow the tips. First, an overview of where ideas are hiding and how big the savings potential is with the six clever ideas
Clever idea 1
- Credit: Balance overdraft facility with cheap credit
- savings: 210 euros
Clever idea 2
- Account: Switch to a free checking account
- savings: 83 euros
Clever idea 3
- investment: create daily money
- interest income: 377 euros
Clever idea 4
- investment: create fixed deposit
- interest income: 3,312 euros
Clever idea 5
- Credit card: Use a free credit card
- savings: 65 euros
Clever idea 6
- Credit: Compare real estate loans
- Savings potential: 64,800 euros
Replace overdraft facility, open free checking account, use overnight money
Of course, the six clever ideas need to be explained. Clever idea 1: Replace the expensive overdraft facility. In any case, it is worth replacing the expensive overdraft facility at your bank or savings bank with a cheaper installment loan. Experts calculate exactly what savings potential there is: According to CHECK24, bank customers who replaced an overdraft facility of 3,000 euros over 36 months with an installment loan paid an average of 5.36 percent per year, according to CHECK24 . This means a saving of 210 euros compared to the average overdraft facility with 9.89 percent. You can find the basics of the calculation here: How to escape the overdraft trap with an installment loan.
Clever idea 2: Zto switch to a free checking account. Many banks are now charging account management fees for the current account again. But: There are direct banks where you can set up a free checking account. Switch consumers from a fee-based current account into a free one, you save almost 83 euros. You can find the basics of the calculation here: the most important thing about the free account and here on page 21.
Clever idea 3: Use call money. Do you leave your money on one do not earn interest checking account lie, it loses value. Last year Germany had one inflation rate of 7.9 percent (December: 8.6 percent). You put 30,000 euros on one cash account with, for example, 1.25 percent interest, achieve an annual return of 377 euros. You can dispose of the money on a daily basis. More information can be found here: Daily money comparison, daily and time deposit accounts from all major providers.
Free credit card, fixed deposit and calculate exactly when financing construction
Clever idea 4: Invest long-term with fixed deposits. There are even better interest rates with a fixed deposit account, but only with a longer commitment period. The best offers are currently up to 3.53 percent interest (Smart Bank), according to CHECK24. With an investment amount of 30,000 euros, your Interest income after a three-year term at 3,312 euros lie. More information can be found here: Daily money comparison, daily and time deposit accounts from all major providers.
Clever idea 5: Use a free credit card. With a free credit card, fees can be saved for money transactions at home and abroad. An evaluation of Stiftung Warentest shows that average costs when traveling abroad amount to 48 euros for single travelers and even 65 euros for families. some banks dispense entirely on fees for withdrawing money both at home and abroad (Hanseatic Bank, Barclays Visa or ING). Which card is really the cheapest for you depends on your payment habits. That’s why the comparison is worthwhile. More information can be found here: Credit cards comparison. You’re on the right track with this credit card.
Clever idea 6: save on construction and follow-up financing. The interest differentials on mortgage loans are high. After the end of the very low interest rates, all loan providers are now raising prices. But CHECK24 shows: By comparing different offers, you can save many thousands of euros. Concrete example: For construction financing (evaluated 500 financing offers) in the amount of 300,000 euros loan amount the cheapest borrowing rate is 2.81 percent (Saalesparkasse). The most expensive bank offers a borrowing rate of 5.47 percent (Steyler Bank). That means a relative interest rate difference of 95 percent and 64,806 euros lower interest costs at the end of the fixed interest period. The monthly rate at the most expensive institute is around 665 euros higher than the cheap one. More information can be found here: Construction financing in comparison.
Conclusion
The comparison portal CHECK24 has a good idea and calculates plausibly how you can save money with six financial ideas. Even if you don’t necessarily need real estate financing – this point would bring the highest savings – you can also save elsewhere: Replace the overdraft facility and set up a daily or fixed-term deposit account, you can do that immediately. There is often more to the world of finance than you think.
