Groceries are becoming more expensive, as are energy and petrol. Finding a home is difficult for first-time buyers. And students sometimes rack up sky-high student debt. In this section, young people tell how they get along, and Nibud gives tips.By Govrien Oldenburg
“I’m self-employed and work as an online marketer at a big bank. I also have a platform about personal finance, business and savings. I also run a few websites, which I earn money from advertising and affiliate marketing.”
“I’m fine, but I’m also very careful with my money. Sometimes I’m a bit stingy, Gerda. I don’t want to waste my hard-earned money, so I think carefully before I buy anything. I’m not materialistic and spend little on clothes. I mainly buy them second hand. I’d rather spend my money on experiences.”
Discounts and offers
“For example, I’m frugal with energy and food. I live together in a well-insulated newly built house, but I’m always looking for tips to save energy. I also use the Too Good To Go app. And I look for discount codes, offers at the supermarket and bargains at the market. Usually I buy seasonal vegetables and big packs. I just think it’s a waste to spend money when it could be cheaper.”
Eating out and traveling
“I do go out for dinner every two weeks, and every two months on a trip or a weekend away. This year it was even every month. I always stay in Europe, and if it’s not too far, I go by train. Sometimes it combines with work, because I can work anywhere.”
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Save first, spend later
“Every month I keep a record of what I spent, and I compare it with the previous months. This gives me insight into my finances, I can calculate averages, and make adjustments if necessary. If I have a lot of clothes in a month, I will save on it next month.”
“There is a buffer of 25,000 euros in my savings account. And I pay myself 2,500 euros in salary every month. I put the rest into investments. For my pension, I invest 500 euros a month, and from what is left I buy individual shares. Pay myself first, in the form of savings, and I spend what’s left. Not the other way around.”
Marion Weijers from Nibud: “How much you should set aside as a self-employed person for savings and retirement depends on your situation and wishes. It is useful to distinguish between saving for the short term and the long term. If you have fluctuating income, you have a buffer necessary . . . to deal with those fluctuations.”
“Pension savings for later. This can be done in several ways, see Nibud.nl. If you work as an employee, you usually pay a part yourself and the employer deposits part into the pension pot. These are often considerable amounts. If you want as a self-employed person saving for your pension, you also contribute the employer’s share yourself. You work one day a week for your pension, if you want to have a pension just like someone who works full-time in paid employment.”
Be notified of new explanatory articles for young adults.
- Keep your business and private finances separate.
- Order the free Chamber of Commerce Wallet for entrepreneurs.
- Set aside money for periods of reduced income, supplementary pension and disability. The independent money plan helps you with this.
Are you between eighteen and thirty years old? And would you also like to tell us how you get around and get tips from Nibud? Send an email to Geborg@nu.nl. Include your age, a description of your financial situation and your phone number.
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