When the salary rolls in at the end of the month, it stops Wilma Munther22, away 75 percent.
She lives on a farm outside Uppsala with her dog. The rent is SEK 1,000.
– It was when I was 20 and became more interested in real estate and saw how expensive an ordinary home actually is, she says in an interview with News24.
DON’T MISS: The grant can give you SEK 60,000 – that’s how many have applied
Wilma, 22, about to reach the 500,000 kroner milestone
In addition to the low rent, one of the advantages of living on a croft is the possibility of farming. Instead of heading to grocery stores, she grows as much as she can and freezes.
– I usually plan my food costs so that I have fixed all the food boxes and filled the freezer with things from nature so that the cost can be reduced or removed and then I can treat myself to something. That’s the only variable expense I have.
During the day, she studies remotely and works 65 percent at Granngården as a machine operator. She is also active on several social media where she shares her life on the farm.
In an interview with Today’s News Wilma tells us that she is close to reaching her savings goal this year, which stands at SEK 500,000. If all goes well, she can expect to be a millionaire by the end of next year.
But what has kept the motivation up?
– I have always wanted to fix a house big enough and empty so that my parents can live there in their own house when they become pensioners. In order to succeed in that, I realized that they will require much more money than an ordinary person needs to spend, she tells Nyheter24.
READ MORE: How to avoid exorbitant taxi prices: “Unpleasant situation”
Wilma’s savings tip for beginners: “Then the money grows constantly”
For Nyheter24, she shares some savings tips for beginners.
– It is important to adjust your expenses and choose what to prioritize, she says.
Wilma advises beginners not to go straight for the shares with high dividends and instead choose a savings account with 3.55 percent interest.
– Then the money grows constantly without having to be afraid of losing anything.
She herself uses Avanza to save and invest money in mutual funds and shares.
– All the money you notice will not be spent, put it directly into Avanza and feel free to invest in funds so you can’t withdraw the money and don’t risk spending the money on something you don’t actually need, she says and adds:
– If you only save in a savings account with good interest, you can still withdraw without problems, so mutual funds are actually better. A savings account is a good “crisis account”. The money grows without gathering dust plus you have money to withdraw in case something happens to the car or yourself.
READ MORE: This is how you are affected by the interest rate cut – they can save 30,000 this year
“My best savings tip”
After a while, those who feel compelled can head into the world of shares. It is undeniably an advantage for those who want to make the money grow.
– If you want to earn the most, then the shares are a better option, but then you need to be a little familiar with the subject so you don’t buy just anything, she says.
DON’T MISS: Many want a 35-hour work week: “Stress and pressure”
Her best saving tip is also perhaps the tip you hear the most about: Make a budget.
– My best saving tip is that the day before you get paid, you should sit down and write a budget. Doesn’t have to be an advanced one but just so you see your expenses and can plan how much money you can actually spend.