Investing means to have a certain amount that we can spare to invest.
1. Plan all of the purchases, even the smallest ones.
Swedes are used to planning. And they are not used to on-the-spot spending. They prefer to approach spending rationally since childhood. Besides all of the big spendings like travel and buying expensive stuff, even the smallest shopping sprees and restaurant visits are planned.
2. Never loan and never borrow.
Swedes never do either of those. No one talks about money at all here. Everyone prefers to rely on themselves. Approach like that helps one plan and see their spending and earning fairly with no one and nothing to count on.
Yes, Swedes prefer to invest. It is quite common here to invest into something for your child, that way when they grow up they can enjoy the benefits if the investment and manage it themselves, thus learning about the process and earning.
4. Involve children in budget planning.
Home economics is a special lesson in Swedish schools. There children can learn everything there is to learn about budgets and planning the finances in advance. Everyone has to attend because everyone has to know this stuff. This is helping children be prepared to the grown-up life.
5. Take care of your future.
Retirement money are being saved from the age of 30. No one counts of the help and support of others. And that is a good practice – not to burden your children with yourself and not having the responsibility to tell where and how you spend the money as it is all yours.
6. Take care of nature – it will save you money.
Is it better to fill your own bottle with water and not buy a plastic bottle in the shop. There are no curtains in houses in Sweden as there is too little sun light and no one wants to spend too much on electricity. It helps save a lot of money in the long run.
7. Get rid of clutter.
The easiest way to deal with the clutter – never buy what you don’t need. And whatever you used before can be recycled or given to charity. It is a regular practice on Sweden – give away what you don’t need. Saves money for other people. who knows, you might be the one who buys something like that sooner or later… just to save some money.