4 simple ways to save – recipes from residents of Sweden
November 11, 2022
- Sweden is regularly included in the ratings of the states with the highest standard of living and financial education. Cash payments here account for only 2% of the total volume of operations, 85% of the population have access to online banks, and the percentage of the financially literate population in the Scandinavian countries, according to the World Bank, is generally higher than other European countries (71% against 66% in the Netherlands, for example). In Russia, it is only 38%.
- Plan any, even minor, purchases. Planning swept the whole life of the Swedes. It is not customary to spend money spontaneously — a rational approach to the distribution of funds is instilled since childhood. In addition to large purchases such as household appliances or travel vouchers, the budget for upcoming gatherings with friends or visits by relatives is carefully considered.
- Create a habit not to take and not to lend. In Sweden, no one ever does. And do not ask questions about the amount of income. Such conversations are generally considered indecent. This approach helps to intelligently calculate their strength, to live within their means and not to buy an ultrafashionable smartphone just to make an impression of a person with wealth.
- Invest from the cradle. Reasonable investment is the foundation of financial literacy in the country. If you have stocks, this greatly increases your bank rating, which further affects the rates on loans. A significant part of the free money, the Swedes are transferred to investment accounts. How to manage your portfolio, teach on special courses. And there are such for children. In general, giving a child bonds is a common phenomenon for Swedes. Then the income from investments will grow with the children.
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