Most of the time, it is not always the major purchases that tear a hole in the financial coffers. Above all, it is the many everyday things that Germans do, which, according to the consumer advice center, lead to a lot of expenses. We help you to remove the biggest cost traps from your everyday life in order to have more money to save and the finer things in life.

1. Smoking

Smoking is a well-known cost eater: on average, smokers pay more than 3 euros a day for cigarettes, which is a lot Calculated annually corresponds to well over 1,000 euros. According to the study, a total of 14.2 billion euros are spent on smoking each year. A small car has been put together like this for over 20 years.

2. Save on washing clothes and dishes

Here I recommend the “one-click-down Principle”. You simply set the washing temperature one level lower. 60-degree laundry can easily be washed at 40 or even 30 degrees and normally soiled laundry is still hygienically clean. The positive side effect is that you can cut power consumption by almost half. Even with a dishwasher, 55 degrees are usually enough. You should only use hotter programs in cases of real “hardship”. Pre-rinsing under running water is also unnecessary and only costs water and energy and therefore your money.

3. Account fees

The costs for private checking accounts have risen significantly in recent years. Savings banks, Deutsche Bank and Volksbanks in particular make their service pay dearly. On average, account owners pay over 70 euros a year just for account management fees. There are also other fees for transfers, credit card costs and negative interest rates. There are now some alternatives. Many online banks offer free current accounts and some also offer free Visa cards. It is worth mentioning here accounts of Deutsche Kreditbank, Tomorrowbank or N26.

4. Food and drinking water

Buying too much food is not only bad for the environment, it works quick in money too. According to a study, food worth 235 euros per German citizen ends up in the trash every year. In Germany, 17.3 billion euros and several thousand tons of garbage are thrown away every year. That could buy Brad Pitt and Angeline Jolie’s property in southern France 330 times. The beautiful Miraval Palace in Correns-Var costs around 52 million euros. The expenses for bottled drinking water can also be dispensed with. On average, every German spends around 437 euros on water bottles a year. The same amount of tap water, on the other hand, costs 1.50 euros a year. And tap water is not even worse than the best bottled water, as Stiftung Warentest confirms.

5. No tax return submitted

For many, filing a tax return is a particularly annoying matter would like to get around. Even if not everyone is required to file a tax return, it can be worthwhile for most people. According to the Federal Statistical Office, over 88 percent of citizens who submitted a declaration received a tax refund averaging an impressive 1,027 euros.

6. Expensive mobile phone tariffs

A large proportion of Germans pays too much money for their current mobile phone contract. If you switch from one of the large providers to a discounter brand, you can save around 179 euros a year with an all-net flat rate with 3 gigabytes of data volume, for example. The good thing about it: You pay less and still surf the same network. It doesn’t have to be a new smartphone every other year. You pay for this indirectly with your telephone tariff. Use your smartphone until it really doesn’t work anymore. In this way, you are also doing something good for the environment at the same time.

7. Expensive electricity and gas providers

According to calculations by the Federal Network Agency, many consumers in Germany pay too much for Electricity and gas because they don’t cancel their expensive basic service tariffs. According to an analysis by the Federal Network Agency, 27 percent of all households in Germany pay too much money for electricity from the basic supply. The savings potential is great. Simply calculate online without obligation.

8. Too much cash

Due to the inflation rate, ours is losing value every day. This will not change much in the years to come. The same currently applies to interest-bearing investments. Because here the returns are too low. ETFs or fund savings plans are much more attractive and inflation-proof. But consider the investment horizon. This type of saving is recommended for an intended time horizon of at least 7 years.