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It’s true: money makes the world go round. We all need it in order to live life on a daily. From rent to food to transportation, the number of expenses the average person takes on is endless. It seems as though with inflation on the rise and salaries staying stagnant, many people have the same question in mind – how do I save more money?
A new study called the Smart Shopper Index has found that certain countries are better at saving their money than others! Out of 25 countries studied, the results show that France is the best at putting money aside overall, scoring the highest number of points on the SmartShopper Index. Other countries that were on the top of that list were Ireland, Germany, the United States, and Norway.
How did the French do it, you may ask? Let’s have a look! According to the study by BravoVoucher, although France averaged a higher debt value, they generally made smarter and more considered purchases overall which resulted in a high index number. Now, you might be wondering what it takes to be a smart and savvy consumer. Well, the answer is definitely easier said than done. However, once you have the tools that you need to be a smart consumer, you will be well on your way to building up your savings. One of the biggest challenges is buying groceries.
1. Only buy what you need
Treating yourself from time to time is obviously necessary, however in order to make money, you may need to make some sacrifices or find other ways to fulfill those needs. Maybe instead of spending money buying coffee every morning, you could spend 5 minutes in the morning making the coffee at home – if you are able to do that every single day, imagine how much more you could save!
2. Track your spending
In order to track your spending effectively, you can try downloading a budgeting app. These will calculate your spending for you so that you don’t need to manually spend time doing it on an excel spreadsheet! Here are some great apps to start with.
3. Keep track of sale seasons
Overall, budgeting and saving money may not be the most interesting thing to do, it will definitely benefit you in the future and give you a bit of cushion in case you have any immediate expenses that arise out of the blue. With the tips mentioned above, you will be well on your way to becoming a smart and savvy consumer – just like the French.