We are all aware by now that everything is becoming more and more expensive. Having money left over to save and achieving financial goals like buying a house are becoming more difficult as a result. The higher the inflation rate, the harder we find it to save. So we could all use a little help with budgeting and saving!
Buy your first home with Flow
It's not just fuel and groceries that are expensive. The housing market has also been a madhouse for a while now. As a starter, it's therefore very difficult to get into the thick of things. You have to outbid them, have a large monthly amount in your account to be able to borrow a lot and you might want to set aside a reserve for a new kitchen or bathroom. In addition, of course, there must be enough left over for fun things like vacations, outings, sports or other hobbies.
If you are a starter in the Netherlands, then on average you need to have between 4% and 6% of the purchase price in your savings account. If you want to buy a house of 400,000 euros, then that comes to an amount of € 20,000, which you must have saved yourself. A considerable amount. And saving for this yourself is difficult, especially in these times of high inflation. Many starters save on average only about 200 euros per month. And 200 euros may sound like a good amount, but at that rate it would take you more than 8 years to get those €20,000 euros together! And if you don't have a concrete plan and you save a little every now and then, that scenario looks completely different. Then it can totally seem like you never get that amount together!
Change your mindset
The fact that saving for a house or another big goal seems like an endless situation is mainly due to the lack of structure. As prices rise, you probably save irregular amounts and don't know exactly what your income and expenses are.
With Flow, you set up to save automatically. For example, you've calculated that you can easily set aside 400 euros per month. If you set that aside for your new home every time you get your salary, then you know for sure that you're actually saving that amount. And that €20,000 euros will not take 8 years, but 4!
You can do the same for other financial goals. Does your income vary every month? With the flows and triggers in the Flow app, you can also set up your goal to save a percentage rather than a specific amount. This means, for example, that you always set aside 20% of your income to save for a house, regardless of how much money you earn.
By introducing structure and overview into your budgeting and saving plan, you ensure that your financial goals are achieved up to 50% faster. And that motivates you. Because whereas saving used to be almost impossible, with Flow you can easily achieve your goals. This changes your mindset and you save even faster and easier.
Learn from our money methods
Besides saving automatically, Flow also helps you get a better grip on your finances. For example, we have several standard flows you can set up and we're constantly looking for the best money methods to share with you. Take a look at our Guide for all default flows!