Cashback has been discussed to some extent, but I don’t think this has come up yet: the possibility of paying taxes with a debit or credit card at a tax office service point and earning cashback/points from it.
I personally use Aktia’s Finnair Visa, which earns 1 Avios per Euro spent, and Revolut’s Debit Visa, which earns 0.1 points depending on the subscription, and these can then be exchanged for flight points, e.g., for Finnair.
This is timely because there is time until the end of January to pay supplementary prepayments for 2025 taxes to avoid the reduced late-payment interest, which will be 4.5% in 2026.
Credit cards such as Morrow Bank and Norwegian have caps on cashback; naturally, for smaller amounts, this wouldn’t be an obstacle, but a bigger obstacle is the current positive credit register and investment loans, so I don’t see it being very easy to get new credit cards with high limits.
Are there any recommendations for cashback debit cards that could be utilized here?
When I remembered to trim expenses again, phone and internet plans can be a surprisingly large source of savings if you have multiple family members.
Our old plans were 17–26 euros per person. In some cases, there was even a weird +2€/month extra charge for having voicemail. And some of them were just about to get more expensive.
I switched 4 plans to DNA for €11.99/month (4G 100M, 1-year contract). (Other operators have similar offers now). I didn’t get any freebies with that, but I managed to negotiate away the so-called activation fees for three of the plans. So that’s also money in the pocket.
We already get fast and affordable broadband through our housing association.
A family can save up to ~€400 a year. Just remember to set the restrictions for the children correctly so there aren’t any surprise mobile purchases on the bills.
We’re also putting Netflix on hold, as we don’t end up having that much time to watch it anyway, and since the “mandatory” Yle Areena (funded by the Yle tax) also offers a fair amount of quality content. Netflix costs ~€170 a year.
Of course, the big savings come from elsewhere: not having an apartment that’s too big or expensive, no summer cottage or boat, renting a car instead of owning one (possible in big cities if it fits your life situation otherwise), budget traveling, planning grocery shopping, avoiding restaurants and impulse buys, and buying new clothes only rarely.
I must admit, I am Inderes’ worst spender. That is about to change, and it is high time to get rid of my debt.
Motorbike for sale. Insanely expensive insurance.
Switching to a cheaper car, possibly.
No traveling this year
Impulse purchases to zero
Company investments to zero
Not a drop of alcohol
No treats
The car is a bit hit or miss since you can never be sure about maintenance costs. However, according to my own calculations, I would have to do a lot of maintenance for the trade-in not to be worthwhile. It also holds its value better. The motorbike’s value isn’t staggering, but fuel costs + insurance add up to a significant sum on an annual level. It’s much easier to part with the car because, for me, it’s just a necessary expense. A lot of money inevitably goes toward food, but cutting out treats, alcohol, and buying in large batches has a nice impact on the total price. These days, I get dozens of kilos of meat practically for free from a hunter friend.
Long-term savings measures include additional insulation for the attic and replacing two exterior doors.
My new frugality hack. Grab a map and look for the nearest S-market, or one along your usual driving routes, that is a) in an expensive residential area and b) not within walking distance of low-income neighborhoods. And behold, it’s like traveling 15 years back in time. The -60% clearance sale is announced, but there’s no rush to the registers; the shelves are still full. People just walk past those red-labeled products. It’s like magic. They just walk past.
So, these are exactly the areas where wealthy Inderesians (Inderes members) live. This is a thank you to those wealthy investors and a tip for the poor and frugal investors.
I stumbled upon this observation by chance when I decided to stop by a completely new store on my way to the gym. The observation has been confirmed over several visits and will likely save me about €400 on an annual level, which admittedly stems from a slightly too high consumption of convenience meals and ready-made salads in this household.
Switch to an induction stove. Also replace old household appliances with newer ones if necessary.
During expensive electricity hours, only use the stove with a pressure cooker (you can cook things like chicken drumsticks, etc., in it). The stove’s usage time is shortened.
Forget minced meat—switch to soy mince. You can affordably make meatballs, patties, cabbage casseroles, macaroni casseroles, etc. The price difference is huge. You also save by following dietary recommendations and using beans, lentils, peas, etc. Buy frozen vegetables in winter. It’s also worth using affordable wok vegetables in almost everything.
Go grocery shopping once a week or order online. Budget and plan the weekly menu and purchases.
Cancel unnecessary magazine subscriptions. Do the same for other recurring subscriptions and make use of libraries (both physical and e-libraries).
Take advantage of free streaming services and movie offerings from libraries.
Only wash full loads (laundry/dishes) during off-peak electricity hours.
Avoid stores; don’t buy anything that isn’t on your shopping list.
Avoid unnecessary driving to save on gas.
Switch to an affordable securities broker. Research whether it’s worth ditching expensive funds and moving to a more affordable alternative.
Cutting costs alone isn’t enough; you need more income:
Immediately upon receiving money, put some into savings, even if it’s just one euro. Build up your buffers bit by bit, one euro at a time. You may be able to increase your savings later on.
Move your liquid funds to an account that provides better interest calculated daily, e.g., Bank Norwegian. Follow offers and comparisons from different banks. In small increments, the interest rate difference works in your favor.
If possible, switch your banking services to a bank with a ‘free’ service package. If this is not possible, investigate whether you can lower the costs at your current bank.
Consider replacing some of your exercise with mushroom picking, berry picking, and fishing. You can grow expensive herbs on your balcony and windowsill. If you’re not interested, see if you can find fresh herbs in frozen form (parsley, dill, basil …)
Shake up your thoughts, question current patterns: Must you own your home, as well as your car and cottage, or are there better alternatives? What about clothes, dishes, and furniture—you’re not paying for status, are you? Can you rent dishes or clothes for temporary needs? Can you get around without expensive fees?
Before getting expensive hobbies or items for children, think: Will my child benefit in life from knowing how to manage with less in a tough spot, or does this purchase provide better foundations for the future?
Pay attention to health. Go to screenings, get vaccines, etc. Being sick is expensive. If you are ill, remember the payment ceilings for medicine and healthcare.
Think about whether you really need health insurance, or if you would take the risk and grow, for example, your own “medical piggy bank” in stocks/funds or similar.
Familiarize yourself with and read about what is included in Finnish social security. You may be entitled to certain benefits.
Here’s another savings/health/taste/shelf-life tip:
Learn to make pot bread. Use 50% whole wheat → whole grain bread. Reduce the amount of salt and use mineral salt. For fat, you can use oil or even unsalted baking margarine. You can add seeds etc. to taste. You’ll quite quickly get a very heart-healthy, good bread.
Making the dough takes about 5 minutes. And mixing isn’t difficult either. You can let the bread rise in a cold oven, for example. You can find recipes for pot bread online.