Expat Serbia

How to save money in Serbia

According to experts, Serbia's economic recovery should not be expected before 2013, since the economic situation in Europe, especially the euro area, will probably worsen.

With that in mind, the burning question is how to save some money while living in Serbia. We've compiled a short list of things you can change in the everyday practice that could reduce your monthly costs up to a third.

Minimize electricity use during the peak hours. Energy-conscious customers can save money if they use electricity during off-peak periods when the costs are lower. The price of electricity in the red zone could be five times more expensive than "the same" electricity in the green zone. For example if the boiler is always turned on just during the night (24-8am) your electricity bill will be four times less then usual. If it’s possible try and shift some of the major energy using devices to off-peak hours, like washing machine, dishwasher etc.

You will save on clothes if you buy on sale. The first sales in Serbia, from 10-30%, are starting in June for the summer season and in December during the wintertime. At the end of each season, in August and February, the price of the wardrobe is marked down up to 70 percent. Think one season ahead because now the summer shoes and clothes are getting sold at half its price and vice versa. Apart from seasonal sales, occasionally many shops offer discounts during the whole year. During the shopping nights, often organized in the major cities, prices of some items are 30% lower. Also, you should watch out for the “2 for the price of one” promotion available almost all the time.

Change you mobile phone tariff. Are you sure you are getting the best deal with you mobile network company? Monitor your habits and behaviours for one month and at the end of it you will know if your mobile phone is used primarily for messaging, talking or internet use, or all of the above. In accordance with the needs and results you should select the most optimal tariff. Desired tariff does not exist with your provider? Check with the other ones because now it is possible to switch your Serbian number to the different provider without changing your phone number. Whether you are a prepaid or postpaid user, by switching your number to the other network, you can select any service which is more favourable to you.

Plan your grocery shopping. Before planned shopping, it is best to think about items missing in your household and make a list. Make it carefully - and stick to it! It is also wiser to go to the big markets because prices there are usually much lower but again, you can fall into the trap of buying things you do not need. Again, in this situation, the list is crucial! In Serbia, it is generally cheaper to buy a larger package of goods then a smaller one.

Every week, the large supermarkets such as Tempo, Idea, Metro, Roda or Maxi have many various discounts and promotions (2 for price of 1, gift article etc), where you can save a lot of money. Some stores offer coupons if you spend more then 1000 dinars, for example. If convenient, try browsing through few markets before buying stuff, because often the same items sold at one store could be purchased for 30% or less in the other one located nearby.

Smaller grocery shops which are opened 24/7 are usually the most expensive ones. In open markets, price of fruits and vegetables is often higher than in supermarkets, but often negotiable. If you use a lot of fruits and vegetables and you live in Belgrade, we recommend visiting Kvantas market and shop bigger quantities at affordable price.

Change your eating out routine. Every once in a while won't hurt you, but many people eat out more than they cook at home, which ads up quickly. This doesn't only apply to cooking, but also packing lunches instead of eating out and ordering a food during work hours. Let’s face it, lunch or dinner in fancy restaurant in Serbia, especially in Belgrade, could be pricey. Not to mention ordering take outs directly to your work place.

In the end, put everything on the paper. Keep track of your expenses. Capture your expenses and incomes and see how much money you could save thanks to these few helpful tips.

Share YOUR ideas how to effectively save money.