Have you got an idea and a business plan to make you next Elon Musk? Then you are probably wondering how to make it real. The first thing you will always need for a startup is money. Even though there are many different ways to earn them, not each will be good for your situation. That’s why in this article, we will explain to you how you can save money for business in Portugal.
Save money using car hiring opportunities!
Did you know that a car is the least profitable investment? Parking problems, maintenance costs, and paying taxes are “benefits” of owning a vehicle. On the other hand, renting a car will reduce your worries about rental payments and fuel costs. Also, there’s probably no need for you to use a vehicle daily. You can walk to a job or use public transport.
Yet, if you need a car hire in Portugal, use our service to get the best cars from the most trusted suppliers.
Plan your expenses!
Divide your spending into categories and frequency by splitting them into regular payments and additional costs. It’s also a good idea to budget for a safety net in case anything unexpected happens.
After you’ve classified spending, analyze how much you spend in each category and where to reduce back. You will not only spend less but also save more money each month.
It’s a good idea to accomplish this planning using a spreadsheet or even one of numerous applications currently available for this preparation.
Avoid touristy areas!
While it’s fun to sip cocktails at a chic beach bar, try to preserve this as a special treat for entertaining visitors – ideally when they’re paying to say thank you for your hospitality! In Portugal, you pay a premium for location, and you might be charged an outrageous fee if you select an incorrect restaurant or pub based on its appearance. Locals visit places that are little off the main path since they are cheaper and more authentic. Yet, be prepared to have a walk or even drive to it. But don`t worry, in Portugal cars for hire aren’t costly.
Look for discounts from providers!
Portugal’s TV and internet companies, like the rest of Europe, prefer to provide greater prices to new consumers while disregarding their more existing clients. While scouring websites for phone plans and bandwidth limitations isn’t as enjoyable as swimming pools or a stroll along the beach, getting the best deals is worth it.
Don’t buy imported products!
Some things in Portugal are exorbitantly priced. This is often because they are imported, but also due to country-specific peculiarity. Once you’ve located these costly items, hire a car and travel to another country to buy them. Products that shouldn`t be purchased in Portugal are
- sun cream;
- cosmetics;
- prescription glasses;
- electronic products;
- pharmaceuticals.
Seek discounts in supermarkets!
Supermarkets in Portugal frequently run deals on certain items, so keep an eye out for them. Discounts can sometimes approach 50%! Many stores also provide discount coupons, so try to utilize them before they expire.
There are also several mercenaries in Portugal, which are traditional supermarkets much smaller than conventional supermarkets. Although you may not find everything you need here, many items, such as fruit, vegetables, and bread, are less expensive.
Consume less electricity and heating!
Not so amusing fact: Portugal’s energy bills are among the highest in Europe. Depending on the size of the family, basic energy utilities are approximately €150. You may save money by keeping an eye on your usage and avoiding leaving lights on while not using them.
While winters in Portugal are not chilly, it may get fairly cold at night. Reduce your energy use by not keeping it on all day. This might reduce your winter heating expenditure by quarter!
Create a spending limit!
After you’ve paid your fixed expenditures like rent, school fees, water, electricity, and other bills, it’s a good idea to put a monthly limit on your additional spending. This sum should cover dining, social outings, and other leisure activities. This will push you to control your options so they do not exceed predetermined limits.
The money left should be sent automatically from your current account to your savings account on the day you get your paycheck. This feature is accessible through online banking and may be customized to your preferences. If you change your mind later, you can always adjust the amount.
Try to get a salary raise!
Because you will have an extra amount added to your income, this might be another opportunity to enhance your savings. This frequently depends on your job and where you work, but be prepared to discuss this matter with your manager if you get an opportunity. Approach the issue with confidence, demonstrate conviction, and justify your progression.
If the payment is lower than expected, keep an eye on the job market. Changing employment results in a gain in compensation and perks. Maintain your CV and look out for job opportunities. Set up an alert on major employment sites based on keywords relevant to your position and apply if it makes sense.
Conclusion
Now that you have all the information you need, you can begin saving to go one step closer to realizing your dream of starting your own business in Portugal. Our team wishes you good luck and hopes you’ll reach a goal!