1. Want to make the most of Malta’s swimming season? Opt for a beach instead of a beach club

If you want to save up money, you shouldn’t have any issue with the body of water you swim in to freshen up.

We’ve been blessed with an island that always has the Mediterranean Sea about 10 minutes away from our home, so why not make the most of it? There’s a long list of beaches all over Malta and Gozo that are ready for your frolicking, and whether you’re looking for rocky or sandy, popular or overlooked, down the road or at the end of a road trip, the islands have got. you. covered.

And sure, beach clubs can be the epitome of cool, but if cooling off after a long week of work is what you’re looking for, then you’re probably still best off enjoying what Mother Nature gave us.

2. While you’re at it, don’t buy unnecessarily expensive beachwear every single summer

You know how you have that super cool jacket you always look forward to wearing whenever the colder season returns? Do you wear it just twice one winter and then throw it away the next just because it was last winter’s hot item? Exactly.

Even if you’re one of those insane summer people who hit the beach every single day and tell everyone you’re “practically a mermaid” (sure Karen), you’re probably only using your beach items fewer than 100 times on any given summer. I think we can both agree that a beach towel can survive way more than that many uses before needing to be thrown out.

Apply the same reasoning to your swimsuit, tank tops, dresses, hats, sunglasses, beach bags, and the whole lot, and you’re suddenly looking at a way smaller expense whenever June returns.

3. Eat at your nanna’s house on Sundays

Now this one’s glorious and you need to hear me out.

Pro #1: You save up all the money you would’ve otherwise spent on those lavish Sunday brunches that quickly take a turn to boozy and end sometime around 7pm.

Pro #2: Your nanna/u gets to see you, which is always great, important and sometimes sadly forgotten.

Pro #3: If your nanna/u is anything like all the ones I’ve ever known, you’re probably going to not only save money on food, but leave the house with more money in your pocket than when you came in. Ka-ching.

Cons: There. are. literally. none. here.

4. Opt for house parties and get-togethers rather than going out

Again, this is great on a couple of different fronts.

Firstly, there’s the issue of petrol… which might end up being more evident the second you find yourself stuck in a Maltese traffic jam.

Secondly, you’re obviously going to be spending less money, even if you’re the host, because God knows a couple packets of galletti will end up costing you way less than whatever you would’ve ended up buying while you’re out. And let’s face it; with friends and family like the ones you have, a couple packets of galletti is all you need.

Thirdly, you’ll also be saving all your loved ones money in the process. Voilà, you are now also the hero of the group.

5. Go to one or two parties per weekend, not four

Of course, we’re not saying you should just shut yourself at home and never go out. That would be a shame, especially seeing as Malta comes alive during summer. But there’s a way and a way to enjoy any summer.

Every weekend, dozens of clashing events vie for your attention… and money. Now if you’re like me, your gut instinct would be to try and squeeze them all into your already-tight and expense-filled schedule, but do you really need to head to that third event of the night at 3 am?

Do your wallet and your liver a favour and say “not today” to the afterparty. Your FOMO might hate you the first couple of times, but your finances will be eternally grateful.

Besides, always remember the biggest contribution to society How I Met Your Mother ever gave us: “Nothing good happens after 2am”.

6. Never underestimate the power of carpooling

Just like most of the tips and tricks on this list, this one’s so great because it’s incredibly multi-purpose.

Create a new habit within your group where you don’t need a car for every single person (especially if you’re all heading to the same place at the same time), do your part in decreasing traffic and pollution on Malta’s roads, help make our roads safer by only having the calmest, most sober friend behind the wheel… oh, and also save up on petrol expenses.

This one should be a no-brainer for any group of friends in Malta.

7. Open up a fixed savings account

All the above tips are great quick fixes, but they’re just that.

If you want to make sure you’re setting aside sizeable chunks of money and not touching them in any way, a fixed savings account is the way to go.

Just as it says on the tin, a fixed savings account is where you store your money and don’t get to touch it for an agreed-upon period of time.

Treat it as the adult version of your parents keeping that coveted €10 you’d have saved up in their bedroom’s top drawer.

And if getting started is the only hurdle, MeDirect have got the right offer for you.

Usually, fixed saving accounts are for amounts of money that you and I will probably not be seeing any time soon, tucked away for extended periods of time that are just too long.

We’re talking thousands of Euro that you have to wave goodbye to for an elongated period of time. Yeah, ain’t nobody got time for that.

MeDirect’s new scheme drastically reduces all of the above, allowing you to start a fixed account with as little as €100. Doable right?

Now that’s way more doable.

With a 1% interest rate per annum, you can invest any amount from a minimum of €100 for one year. Interest frequency can even be quarterly or semi-annually.

Of course, you can opt for higher amounts, with the conditions changing accordingly. For accounts of €20,000 and over, for example, the interest can be paid monthly.

As a digital Bank, MeDirect offers the facility of becoming a customer online – which means you don’t even have to leave the comfort of your own home or visit a branch to benefit!

If you’re looking for the TL;DR version, here it is: you don’t need to have wads of cash lying around that you can make do without for decades to start a fixed savings account in Malta… but you can still benefit from the perks it brings with it.

So the next time you find yourself smack dab in the middle of a hot and expensive Maltese summer and need to save some serious moolah, look no further than MeDirect Bank.

And your nanna, of course, but that’s kind of a given.

MeDirect Bank (Malta) plc, company registration number C34125, is licensed by the Malta Financial Services Authority under the Banking Act (Cap. 371). The Bank is a participant in the Depositor Compensation Scheme established under the Maltese laws. Rate quoted is gross of tax on a per annum basis. Interest is paid into a savings account. Terms and Conditions apply.

Tag someone who’s bad at saving money