7 (Safe) Alternatives for Saving

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alternatives to saving

It is always nice to have a financial buffer.

But on the other hand, that money is also in that savings account, and with the current low interest rates it is actually only worth less!

Time to let that ability get moving and work for you.

The winged statement “money makes money” is based on a truth: if you give it a smart goal, you can get a good return!

We give you seven suggestions, you can decide for yourself which alternative you feel most comfortable with.

In this article:

1. Pay off or transfer a loan

It makes no sense to have (a lot of) savings if there are debts as well. Not only will your savings become worth less due to inflation, but the interest you pay on a loan or debt is always higher than the interest you receive on your savings account. So rather use this money to (partly) repay, you will always make a profit! Moreover, getting rid of a debt also gives you a lot of peace of mind.

In addition, it can also pay to transfer a loan to a lower interest rate. This often costs you a fine, but on balance yields a profit because you save interest costs. Look for better interest rates on our loan comparator . You can click on [all loan interest] to compare specifically for the transfer of an existing loan.

2. Repay or transfer a mortgage

The largest and most famous loan that many households have is the mortgage. A home / housing costs are often the most expensive cost item of an average family in the Netherlands. Making repayments on this always saves you money, even if that profit is spread over a long time. As a result, you may not feel it that way, but it is always smart to lower your monthly costs in this way.

Refinancing is often even more attractive, especially with the low interest rates now that you can make a big difference. You often pay a fine to your old provider, but if you do have savings, that is a good investment. You can get a free advice consultation for this via hypotheekoversluiten.com

3. Invest in solar panels

If you are looking for a substantial return on an investment, we always put solar panels at the top! You can generate your own electricity with this. Because panels are getting better nowadays and are not that expensive anymore, the efficiency is quickly 15%

Savings interest will of course never be that high! Additional advantages are that solar energy is very sustainable / green, the panels are often automatically covered by your home insurance and that they also increase the value of your home. Request some quotations for solar panels without obligation and free of charge to see if it is something for you.

4. Invest in home insulation

What applies to solar panels, almost the same applies to good insulation in your home. Your house will be worth more and your living comfort will also increase because you will be less bothered by heat (in summer) and cold (in winter). The efficiency is that you save on your heating costs, because it quickly comes to 10% efficiency because gas is quite pricey. And that price will only continue to rise in the near future!

The best ways of insulation are floor insulation and cavity wall insulation. Here too, you can request some quotes for free and without obligation to see what it can bring you:

5. Start your own (online) business

You can also use your savings as starting capital for your own company. Most entrepreneurs these days are trying their luck on the internet and they are right! Nowadays it is easy to start your own website . And you can earn good money with that.

But you can also generate income with social media . And they are even free to register with! It is bizarre that you can reach billions of people all over the world via these networks, of course you can get something from that.

And if you really want to go so far that you want to become completely independent and no longer have to work for a boss, then making money with affiliate marketing is your path. This is the best way to make money on the internet , where people not only got to start their own business but never even had to work again because they are now rich! But then you have to get really good at it ...

6. Investing comes in many forms!

If you don't mind a little risk, investing can be a great alternative to saving. And more risk, on the other hand, also means more chance of profit! You can of course go for the traditional shares (do that via Binck Bank , already 15 times the best broker in the Netherlands with low costs and good training), but there are many more types of investing nowadays.

Think especially of CFD Trading where you make up to 30x more profit than with normal shares, or investing in cryptocurrencies that you probably know from Bitcoin. For some, the latter may seem complicated, but it is not at all!

Do realize that investing also has a downside, namely that you can also lose your investment or part of it. So take it seriously, if you want to gamble, you can do it at the casino at the roulette table!

Invest in art or an old-timer car.

The latter alternative may seem crazy, but make no mistake! If you look at the retention of value / increase in value of art and oldtimers, it cannot be compared with anything. And that has been going well for decades!

The return is even many times higher than the price increases of gold, real estate, for example, and also very stable in value. This means that it cannot suddenly drop in value overnight like for example Bitcoin ...

The only condition for this type of purchase is that you know what you are doing . You have to be able to recognize the difference between art and kitsch, so to speak, and know when to pay a good price for it. This is exactly the difference between the bad and extremely good traders!