Saving money is easy when you don't spend it on unnecessary things.
My 5 Biggest wastes of money are:
1.
Eating out
We
used to eat out 2-3 times a week, simply because we were
too tired and thought that we’d deserved it because we were both
working full-time. Cutting back on that meant we could throw
more money at our mortgage – we paid the bank back on our first
mortgage in full in only 2 ½ years.
2.
Phone upgrades
I
bought my last phone in 2016 and guess what? It can do all the things
that newer version phones can do. There hasn’t really been any
significant advancements since then and my battery still keeps
charged all day and my screen is still in top condition. I’ve saved
at least 3’500 CHF by not changing my phone every year since then.
3.
Designer Clothes
Buying
clothes with brands is such a huge waste of money, especially when
you buy them with Swiss prices. If you really want brands, head to
the outlets in Foxtown or head to London where there are much lower
prices. If you children want branded clothes they should be buying
these with their own allowance. A friend of
mine bought a Supreme hoodie for £185 for her teenage son – that is a serious amount for a hoodie!
4.
Lottery tickets
We
all know that the chances of winning are tiny but many people still
do it. There were even lines at the Kiosk when the Euro millions was
hitting another jackpot and the sheer number of scratch cards
available at the counter is vast. In fact, the chances of winning a
first division Lotto in Switzerland is 1:31,474,716
(Source:
https://www.thelotter.com/lottery-numbers/switzerland-lotto/)
5.
Cars
We
kept the same car for many years in Switzerland. I was reliable, started every time and still had under 100’000 kilometres on it
when it hit 10 years old. With
average wear and tear, a
new family car today
is only worth half its value in 4 years. (Source:
https://goodcalculators.com/car-depreciation-calculator/)
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