Starting university, moving to a new country or being financially independent for the first time can be stressful. I am a person who is notorious for spending money and being financially irresponsible. I made it my mission to educate myself on how to use my money in a smart manner and maybe even save some. I will share with you what I learned. Also for those who are new to Tallinn, I added some useful facts. Hope you find something useful and if you have some great tips up your sleeve why not share!
Budgeting
The best way to get your finances under control is to create your own personal budget plan. For this Excel or Mac Numbers templates for budgeting are very useful. Apps like “Wallet by Budgetbakers” and “Daily Budget Original” are very convenient for everyday use. Wallet by BudgetBakers & App Store DBO & Google Play DBO
My recommendation:
Prioritize your primary bills (rent, school fees, phone bills, internet, etc) and pay these first.
Transfer money you want to save to your savings account.
The remaining is your monthly budget.
Track your expenses to have an overview of your spendings.
Saving
I recommend, if you don’t have one already, to open a savings account, maybe even two. The first one for the rainy days and the second for happy days.
Entertainment & Subscriptions
Gym subscription you don’t use, Netflix that you don’t have time to watch and Spotify you’re overpaying for. Sounds like you?
My recommendation:
Youtube has a lot of great home workouts and adventures outside await.
Why not share a Netflix account with a friend, slice the cost in half.
Spotify offers students Premium for a much better price.
Get an ISIC card and download their app to see all the discounts. ISIC
Transportation
Tallinn offers free transportation for everyone registered in Tallinn.
Students who are not registered in Tallinn can claim a discount. More information: Ticket prices > Piletisüsteem
Taxi apps: Bolt, Taxigo and Yandex (cash and in-app card payments) Uber (in-app card payments only)
Check them all to get the best deal.
Food & Drinks
Cooking at home. Cheaper and healthier.
Dinner parties at home, a great way to get to know your new friends and introduce yourself to new cuisines.
Estonian tap water is safe to drink. Reusable water bottles save money and earth.
When going out use only cash to stay in your budget.
Order tap water in restaurants, most of the time it’s free.
Smart Shopping
Don’t grocery shop while hungry.
Avoid impulse buys, give yourself at least 24h to think if you need that new black T-shirt you already have five of.
Use cash in stores to stay in your budget.
Plan your meals.
Go to markets, for fresh veggies, raw honey and unique finds.
Use store brands.
Fun tips
Challenge and motivate yourself and your friends to spend less and save more.
Have no money Mondays (or whatever days) when you can’t spend a dime.
Use the second savings account to save money to reward yourself.
Grocery shopping in Tallinn
Cards
Most if not all big grocery chains in Estonia have their own loyalty card. These cards offer special deals, discounts and ways to collect store credit. I recommend getting a card for the store closest to your house. Here are some examples:
Maxima
Card: Aitäh kaart
Cost: 1€
Value: collect 1% of store credit on every purchase, special promotions
App: Virtual card, an overview of promotions, language options: eng, est, rus
Rimi
Card: Minu Rimi
Cost: 1€
Value: collect 1% of store credit on every purchase, personalized discounts, special promotions
App: Virtual card, an overview of promotions and personalized discounts, coupons, language: eng, est, rus
Selver & Kaubamaja
Card: Partnerkaart
Cost: 1€
Value: this multi-use card offers discounts and special offers in many stores, collect store credit with every purchase
App: mTasku, a virtual card, language: eng, est, rus
Coop
Card: Säästukaart
Cost:1€
Value: special promotion and discounts, collect store credit with every purchase
Written by Merill Sepp
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