15 września 2023

How to LOWER EXPENSES and COSTS OF LIVING in Poland

How to LOWER EXPENSES and COSTS OF LIVING in Poland

 

If you want to improve your financial situation, there are a few simple rules you can follow.

First, you can lower your fixed expenses. This means finding ways to reduce the regular bills you have to pay.

Next, you can try to increase your income. This could involve getting a promotion at your job or taking on some extra work on the side.

Another important step is to save more money systematically. Make sure you're bringing in more money than you're spending each month.

Lastly, you can grow your money wisely by investing it and protecting what you've saved. This will help you build financial stability over time.

In this video, we'll focus on the first step, which is lowering your fixed expenses.

Dear viewer, it's essential to stay informed and be curious about the world around you, whether that's in Poland, Europe, or the rest of the world. Instead of watching repetitive news reports on TV, seek out information that can help you grow.

Become financially conscious and explore opportunities for business development and trends. Learn from successful people in Poland and beyond who have built their companies. Make sure to analyze information critically and rely on trustworthy sources.

Now, back to our main topic.

Fixed costs are the regular expenses you have each month. The biggest areas where you can reduce these costs are housing, food, and transportation.

However, a word of caution: when trying to save money, it's essential to find a balance. Don't do things that make you feel uncomfortable or ashamed. You don't need to resort to extreme measures like searching for food in the trash or using items that are not safe.

Also, consider the effectiveness of your cost-cutting methods. Sometimes, traveling to the other side of the city for cheaper shopping may not actually save you much money in the long run. And buying more products just because they're on sale can lead to unnecessary expenses.

 

The way to save money of your monthly expenses.
 

Cold showers and infrequent washing may not be very comfortable for you. It's essential to be mindful of any money-saving method that consumes a lot of your time and energy or significantly reduces your quality of life. Instead of just focusing on dry numbers and counting every cent, consider the bigger picture.

Now, when it comes to fixed costs, the most substantial category for most Polish households is housing expenses. These costs increase with the size of your living space. They cover things like water, electricity, heating, cooperative fees, or mortgage payments. Typically, the highest costs are in the winter, and the lowest are in the warm summer months.

Your water bill depends on how often you use it, such as bathing, showering, washing dishes, and doing laundry. You can save on water by taking showers instead of baths and by turning off the tap when brushing your teeth or shaving. Using a dishwasher is usually more efficient than washing dishes by hand. You might also consider using an aerator, a device that mixes air with the flowing water, to reduce water consumption.

To cut down on electricity costs, focus on eliminating energy-hungry devices. The biggest culprit is sleep mode, so it's often better to turn off devices entirely. Choose appliances with good energy ratings, but don't blindly opt for the highest-rated ones without considering the price difference, as it might not pay off for many years.

When it comes to heating, there are various ways to save, such as sealing windows and openings to prevent cold air from entering and avoiding placing furniture or curtains in front of radiators. Make sure to bleed your radiators regularly.

Dear viewer, changing your habits is crucial. Pay attention to your water, electricity, and heating usage, and you'll see real savings in your pocket.

Now, let's move on to the second category: food expenses. While optimizing spending is essential, it's equally important not to compromise your health. Saving money on food and later spending it on medicines and doctors doesn't make sense.

To manage your food expenses effectively, keep track of what you spend on groceries at home, at work, and when dining out. Reducing the frequency of eating out can lead to significant savings. When shopping, apply common sense. Stores are designed to encourage spending, so come prepared with a list, shop on a full stomach, and buy what you genuinely need. Pay attention to prices and compare them between different stores.

The third category to consider for cost-cutting is transportation. While having your own car is convenient, it can be expensive due to ongoing costs like fuel, insurance, maintenance, and sometimes garage rental. The initial decision to buy a car involves taking on these fixed expenses, so it's important to weigh the convenience against the financial impact.

 

Calculate the cost of transportation

 

It's a smart idea to calculate, at least once a year, how much your car costs you on average each month. So, what can you do to save money on your car expenses?

First, it's worth learning some tips for economical driving. This can help you use less fuel and reduce your overall costs.

Consider carpooling with your colleagues or organizing fuel cost-sharing arrangements. Just like when you're shopping for groceries, it's essential to be vigilant and compare fuel prices at different gas stations and check out offers from different insurance companies.

If you live in a city, think about using public transportation, at least for part of your commuting. Using a bicycle is also a fantastic option that's not only kind to your wallet but also great for your health.

 

Remember that if you have any doubts, I am happy to offer you advice and assistance. Let's meet, you will find that my help in choosing the best mortgage can be invaluable.

 

Feel free to comment. Is the topic of credit analysis interesting for you? Let me know in the comment. Will be happy to help clarify all issues. It is important to me that every topic regarding the mortgage is absolutely explained.

 

 

 

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Mortgage broker

Michal Kaplon

os.Stefana Batorego 80

60-687 Poznan

Strona www stworzona w kreatorze WebWave.