Economic uncertainty will shake the financial instability of the Portuguese. But there are ways to mitigate it — from surgical cuts in some expenses to selling things you no longer use.
Inflation in the Eurozone is below the 2% target. However, this just means that prices continue to rise, but at a slower pace than in previous months — and that the era of high interest rates is coming to an end.
Thus, the purchasing power is decreasingand it is advisable that you consider save, invest, or both.
To help us mitigate the effects of inflation, , gives us 10 pieces of advice
1. Invest
Os installment deposits continue to have attractive offers and, at this moment, the profitability levels are higher than the inflation rate. There are also simpler products, such as paid accountswhich are very competitive.
The advantage of investing this way is that there is little risk. In the case, for example, of savings certificatesalso highly sought after by the Portuguese, the fact that Having low minimum subscription amounts makes them very popular.
If you have savings that already far exceed the recommended minimum for an emergency fund, it may be time to consult a financial advisor to compensate for the effect of inflation. investing some of your savings on another scale.
2. Simple tricks at the supermarket
One of the consumer goods that has become more expensive is food itself. Here are some tricks to reduce this monthly expense category.
Planning your purchases is essential, and you can benefit from spending some time set a food budget, whether monthly, weekly or daily. You should plan your meals and buy what you are thinking of spending right away, to better organize your savings.
Comparing prices can also be useful. There are several supermarket price comparison websites in . O leaves another tip: be careful with products labeled as “light”, “handmade”, “homemade”… tend to be more expensive. Also pay attention to ready-to-eat products.
Another suggestion is avoid the “inner aisles” of supermarkets: according to BI, they tend to contain more dispensable products, with the most essential things, such as bread, milk or eggs, often being in the outermost area.
And, be careful: always go shopping no hunger and no childrenwhen you can. These two factors make you make more hasty decisions. In the end, always check your receipt: keep an eye out for discounts and duplicate items.
3. Cut back on “ant expenses”
Dispensing with non-essential products, such as those sold at checkout counters, is also an effort worth making.
“Ant” expenses such as cigarettes, drinking coffee outside the home or even chewing gum are also, in the long term, a heavy burden on your wallet.
Even buy a bottle of water Because you forgot your canteen at home, it could have an impact on your wallet if you do this every day.
4. Use public transport
Gasoline has also been one of the fuels for inflation. If you’ve been tracking your expenses, you’ll probably see it in your budget.
It seems obvious, but, in addition to transport such as the metro or buses, whose monthly passes do not, as a rule, exceed €40/month in urban centers, you can also think about share trips with co-workers.
5. Cancel subscriptions you don’t use
Even if it costs you very little money — 5 euros, for example — you can use that amount to start developing the habit of pre-saving.
Gyms, platforms streaming or even things you no longer remember subscribing to and that renew automatically: are you making good choices?
With regard to platforms streamingone tip is Share the subscription with others: you can, for example, pay for one platform and share that subscription with someone, who shares another platform with you.
6. Review service conditions
Os insurance are you actually the most profitable? The best thing is to always keep up to date on this matter, to see if prices go up or if you can get a more competitive offer.
The same happens, for example, for everyday expenses such as insurance plans. electricity or telephone operators.
7. Discounts, balances, customer cards
Although they can be very advantageous, you have to be careful with seasonal discounts.
As the blog explains, you need to be cautious and take into account that Certain products are rarely used at home and can last for months. In these cases, be careful when buying products in large quantities, as you could end up with a good amount of money tied up.
Even so, if you stay informed, this festive season there are several promotions to retain customers in the most varied services. If you really need the service, take advantage of the Christmas season to look for sales and make loyalty cards.
8. Sell second-hand clothes
The games your parents keep in their storage room from when you were a child can be worth a fortune. Old cell phones, limited edition books, coins with faces of famous people in history can help you generate extra income, reminds BI.
Also the clothes you no longer wear can earn you some money. On sites like , you can use the money you receive from a piece you no longer use to have credit to buy in the app, a kind of “wallet” within the application itself. Buying second-hand clothes is very beneficial for your wallet, and even for your closet.
9. Buy your vacation in advance
Many Portuguese people take holidays in August, the peak season when everything becomes more expensive. If you can, choose take vacation in low season — the difference in flight and hotel prices is abysmal.
If, however, you only have the opportunity to go on vacation during high season, You can now start preparing them. Even if you can’t buy everything now, you’ll have an idea of the expenses you’ll have to incur.
Anticipate expenses for your next vacation can help you not only buy or book at lower prices, but also use regular savings methods or turn to high-yield accounts to make the most of your holiday savings.
10. Prepare for a crisis
Even if your income remains stable and you are not afraid of losing your job in 2025, the loss of purchasing power is inevitable, according to the International Monetary Fund (IMF).
To counter this “temporary drop in income”, you can adjust your budget as if I were already going through a period of crisis. Reduce leisure or seasonal expenses, increase your ability to save or react, and, if possible, find new sources of income.
