Micro-expenses: where do your savings go?

These are small, everyday expenses that, at the end of the year, have a major impact on our finances. The President of 11Onze, James Sène, gives us the keys to identifying these small expenses and mitigating the effect they can have on our pocket.

The water bill, the electricity bill, insurance, the euro a day for coffee… there are many products or services that we consume on a daily basis without stopping to think about their cost. Whether out of habit, lack of time, or lack of alternatives, we do not periodically review these costs, and we assume them without thinking about the impact they can have on us every year.

This fact, which in itself can be a disaster in our economic planning, is aggravated in economic contexts such as the current one, in which the excessive increase in inflation is not translated into an increase in salaries.

Ant expenses

When your monthly income comes in, can you tell where every penny goes? It is quite common to get to the end of the month, check your expenses and not understand where the money has gone. To identify these expenses in your daily economy, Sène suggests two main characteristics: “they are things that we consume on a daily basis and that have a relatively low cost, i.e. all those essential expenses that we need before we start doing anything else”.

Sène raises the impact that can be had by something as simple as paying attention to all our expenses and, to give us an idea of the impact it can have on our economy, he warns that “with the analysis we have done, families can save €4,000 simply by paying attention“. It is therefore a question of changing the lens through which we analyse our finances and prioritising savings on basic expenses rather than cutting back on leisure or our holidays.

Programmed to consume

Part of this consumerist vision can be explained by everything that advertising and brands make us do, “advertising pushes us to make programmed purchases, we don’t make intelligent purchases“, warns Sène. 11Onze wants to break with this dynamic and, for this reason, will make available to the whole community all the information related to this type of expenditure.

Through comparisons, calculations, and basic information, all this data will be put on the table to allow us to pay attention to ant-spending without having to spend time and effort.

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The price of gold reached record highs in 2024, approaching 2,800 dollars per ounce, the most bullish in the last 14 years. But how will it perform this year, will it consolidate its price or will the relentless appreciation continue?

2024 was a record year for the gold price, reaching an all-time high of 2,790 dollars per ounce on 30 October, thanks to the volatility generated by the elections in the United States and the armed conflict between Israel and Iran. By the end of the year, it had accumulated gains of almost 30% and closed the year as the most continuous bullish period since 2010.

Geopolitical tensions, the start of interest rate cuts by the Federal Reserve (Fed) and large purchases by central banks to increase their balance sheets boosted the value of gold during 2024 and will remain key factors in determining its evolution this year.

However, uncertainty surrounding the impact of President Donald Trump’s policies on the global economy, which could trigger a trade war, paint an uncertain picture for the precious metal during 2025.

‘As we move into 2025, while business cycle dynamics remain crucial to the outlook, greater attention will be paid to political changes in the US in trade, immigration, regulation, and tax policy. These changes would have to significantly influence outcomes in the US and beyond,’ said Hussein Malik, head of Global Research at J.P. Morgan.

Gold could rise above $3,000 in 2025

Although analysts expect appreciation to lag 2024, the consensus is that the price of gold will continue to rise. Financial institutions such as Bank of America and J.P. Morgan believe that gold has everything in its favour to rise above $3,000 this year, driven by geopolitical uncertainty, the imposition of US tariffs and continued central bank demand.

Goldman Sachs also expected gold to hit $3,000 by the end of the year, but in recent weeks has pushed back the forecast to mid-2026 on expectations of fewer rate cuts by the Federal Reserve. Nonetheless, its analysts expect prices to reach $2,910 an ounce by the end of the year.

On the other hand, Kevin Shahnazari, founder and CEO of FinlyWealth notes that ‘Gold prices are likely to remain stable if interest rates remain stable and inflation normalises at around 2%’ or could even go down ‘in the face of a stronger than expected dollar and higher real interest rates’.

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.

We have always heard that cash is king. But while there may be some truth in this saying, keeping all our savings at home may no longer be the best option.

Ever since currency was invented, the prevailing thinking in our society has been that more money is better. The accumulation of notes and coins has been a constant throughout history. People saved in case of bad times, they saved money in good times to be able to use it in bad times, in case they needed the money for an emergency or simply to ensure a better future for their children. Obviously not everyone has been lucky enough to be able to afford to set aside a significant amount of their money on a regular basis, but many people have had small savings tucked away in a bedside table, in a hidden safe, or, although it may seem a cliché from another time, under the mattress. 

Security, the reason for the change in habits

Over time, the amount of money kept at home has gradually decreased. And this is no coincidence. The development of the financial system and the advantages it offers has allowed it to play a leading role in the collection of savings, relegating private safes to a certain ostracism. But why has there been such a drastic change in habits? The main factor is security, since it is a fact that, no matter how well hidden we may leave our savings, there is always the possibility of them being stolen.

The other point to bear in mind is taxation, as keeping cash at home can currently entail certain risks with regard to the Inland Revenue. Agent Mireia Cano explains it to us.

Will the money lose value?

The other variable to take into account is inflation and its effects on prices in general. The reason is very simple: the money we keep in the safe or under the mattress, in a year, two years, or ten, will still be the same: it will not multiply. However, basic products, such as the coffee we drink in the corner bar, will have gone from costing one euro to costing one and a half or even two euros. These are the effects of inflation, or sustained price increases.

That is why money kept at home can end up losing value over the years if inflation during this period is high. On the other hand, people who have decided to invest some of their savings, or put them in a deposit or somewhere that gives them interest in return, are unlikely to have been hurt by inflation, and may even have increased their money.

So what is the best option? The decision will be a personal one, as everyone has their own way of managing their money and more or less tolerance for risk. But whichever option you choose, you need to be aware of the advantages and risks that this may entail, to prevent your hard-earned savings from being compromised. 

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It is estimated that each household spends on average more than 700 euros a year on heating. However, with the war in Ukraine, the price of energy has skyrocketed. So, this year, homes with accumulators and electric radiators could pay twice as much as last year. From 11Onze, we offer you 11 tips to save on heating.

With the current price fluctuations, the first basic measure to save money when you switch on your heating is to check whether your utility company is offering you the best price. But, even if the price is tight, our goal should be to optimise energy consumption to minimise both the amount of the bill and our carbon footprint. To this end, we offer you some practical tips that will enable you to reduce the amount of energy needed to heat your home. 

Check your windows and doors

Window and door frames are essential for keeping your home warm. Any gap can create an unwanted draught. If your window and door frames are old and the windows do not close tightly, you can improve the insulation by fitting foam weather stripping or even some insulating tape. And, if you have a fireplace, don’t forget to close it when not in use.

Make the most of sunlight

The sun is our great natural ally against the cold. That’s why it’s best to keep the blinds up and the curtains drawn during the day. In this way, the sun’s rays will enter your home and help to raise the temperature. The orientation of the different rooms in your home will determine the hours when the sun’s rays enter directly through each window. 

Protect yourself from the cold darkness

When the sun goes down, the outside temperature drops, so we should insulate ourselves as much as possible so that heat is not transferred from the inside of the house to the outside. To do this, we should do the opposite of what we do during daylight hours: lower blinds and draw curtains so that the heat that has built up during the day does not escape when it gets dark. Thick, opaque curtains, better if they are made of thermal fabric, will help you to keep the heat in, as they will help to insulate the window areas better.

Do not ventilate more than necessary

Ventilating the house every day is an essential health and hygiene measure that allows you to renew the air and oxygenate the rooms. However, when the cold weather arrives, it is advisable to do so for 10 or 15 minutes, no more. And preferably in the morning or in the middle of the day, when the outside temperature is higher, so that heat loss is minimal.

Put the heating where you need it

Keeping unused areas of your home warm is a waste of energy. That is why it is a good idea to leave all the rooms that you are not going to use closed and to turn off the heat sources you have in them. If, for example, you are going to spend the morning between the living room and the kitchen, why keep the rest of the rooms warm? Close the doors and turn off the radiators in the rooms. If the surface area to be heated is smaller, energy consumption will also be lower.

Wrap up warm

It makes no sense to go around the house wearing a t-shirt when the cold weather arrives. It is a waste of heating. All the warmth you gain through clothing will translate into heating savings. You don’t need to wear gloves, but thick socks, fuzzy slippers, a light fleece or a dressing gown will allow you to lower the thermostat a little and reduce your energy bill. And don’t forget a blanket on the sofa is very nice.

Turn off the heating at night

A good way to save on heating is to turn it off at night, as in most cases blankets and duvets provide enough warmth. Materials such as wool or flannel are very good choices for bedding. And keep in mind that the traditional hot water bags still work.

Use rugs

Carpets help to insulate the home better and keep our feet warm. They also provide a feeling of warmth and comfort when you walk on them. 

Do not use radiators as a dryer

The function of radiators is to provide heat, not to dry clothes. Therefore, avoid using them as a dryer when it is not raining and you can hang clothes outside. We must ensure that the heat sources are left free to make the most of the heat they give off. 

Keep the heating system in good condition

It is estimated that 60 % of gas boilers in the European Union are inefficient, requiring excess energy to heat homes. Properly regulating pressure, purging radiators, cleaning burners and checking filters for replacement can help to optimise system performance and achieve more heat with less energy.

It should not be forgotten that the energy crisis caused by the war in Ukraine made many countries to switch back to or increase the share of highly polluting energy sources. Unfortunately, the issue of climate change has been put on the back burner despite the urgent need for action in this decade to prevent global warming from reaching levels that would have irreversible effects.

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After hitting a new all-time high on the eve of the US presidential election, gold prices plummet to a three-week low in the face of Donald Trump’s decisive victory thanks to strong Treasury yields and a stronger dollar.

In a context of intense political polarisation, uncertainty over the US presidential election and geopolitical tensions in the Middle East pushed the gold price above 2,594 euros per ounce, setting a new all-time high just days before the US elections and reversing its proclivity to underperform its long-term average price in the run-up to the presidential election.

This upward trend was already spurred by continued central bank purchases of gold and strong Asian demand for the precious metal. Even so, far from fulfilling the predictions of a close electoral contest predicted by the polls published by the mainstream media, Donald Trump’s landslide victory, winning a majority in the Senate, controlling the House of Representatives and getting the popular vote, has far surpassed the results of 2016 and evaporated investor uncertainty.

Gold falls as the dollar strengthens

As the election results sent the dollar to a four-month high and strengthened real yields on US Treasuries to levels not seen since July 2024, gold prices plunged 3 per cent to €2,456 per ounce, a three-week low and on track for their biggest daily loss in five months.

Improved expectations for economic growth and tax cuts along with concerns that tariffs, a higher fiscal deficit and Trump’s proposed immigration policies could revive inflation, explain the rise in the value of the dollar and government bond yields, making gold, which offers no yield, less attractive to investors.

Analysts point out that this may also result in the Federal Reserve not cutting interest rates as much or as quickly as expected. The yield on 10-year US Treasuries rose 17 basis points to a four-month high of 4.46%, pending the Fed’s announcement later today.

Is this a good time to buy gold?

Unsurprisingly, this combination of political and economic events has caused a shift in market sentiment, affecting the attractiveness of gold, which is inversely proportional to the value of the dollar.

Still, now might be a good time to add gold to your investment portfolio. Some analysts believe that demand will continue to push prices higher, and expect it to reach $3,000 per ounce in the coming months. This makes it an attractive buying opportunity at current prices for those looking to expand their gold holdings.

Moreover, at a time when central banks continue to increase their gold reserves and the armed conflict between Israel and Iran continues to escalate, there is a risk that a new energy crisis could erupt, which would boost demand for gold as a safe-haven asset for investors and savers alike.

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.

According to the World Gold Council (WGC), gold has broken 8 price records in September. In its latest report, it points to continuous increases derived from the geopolitical situation and, above all, from the movements of central banks.

It seemed that gold had risen abruptly in August due to the sudden fall of the stock markets. And, if anyone expected strong corrections in the price of physical gold, everything indicates that they will have to wait a long time. Gold continues to position itself as the safe haven par excellence in an environment of instability that continues and that has no prospects of changing in the short term.

All this has caused gold to close the month of September with a rise of 4.6%, reaching $2,630 per ounce. Gold has currently undergone a correction that has brought it to around 77 euros per gram, which in any case means an appreciation of more than 35% in one year. Some analysts attribute this slight correction to doubts about the Chinese economy and disappointment over the meager fiscal stimulus policy announced by its government.

The reason for the rise

In its latest report, the World Gold Council points to geopolitical tensions in the Middle East and the aggressive rate cuts by the Federal Reserve as the main reasons for the unstoppable rise in gold. It also points to a scenario of instability for stocks and bonds, which would attract investors to gold, knowing that it is an asset that appreciates in these situations.

The question, therefore, poses a moral dilemma: would a possible resolution of the current armed conflicts cause the fall of gold? Well, according to economist Gustavo Martínez, the answer is clear: no. Gold would continue to be at high prices due to the need of central banks to protect themselves against economic uncertainties due to the volume of debt. There is also another issue that is pushing gold, the fact that ETFs based on physical gold have become popular. The ease and speed of buying and selling ETFs facilitates and multiplies operations, but requires the accumulation of physical gold so as not to become a bubble without support.

Preciosos 11Onze

11Onze has been offering physical gold to its community since February 2022. From the beginning, it was pointed out that an environment of inflation, debt crisis and geopolitical risk would make gold a safe haven. We said then that it was necessary to protect savings, as central banks would do, by buying physical gold. Since then, gold has appreciated by more than 50%.

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.

The price of gold continues the upward trend seen since the end of 2023 and continues to set record highs. In this context of high prices, is it still advisable to buy gold to protect our savings or to diversify our investments?

The price of old has gone up by 23% since the beginning of 2024 and its price remains at an all-time high of around 2,290 euros per ounce. While it is true that the reasons that make this precious metal the safe-haven asset of choice for investors are repeated over time, this current upward trend exceeds past performances.

After the strong monthly rise in July, gold rose sharply again in August and stood at 2,280 euros per ounce, up 3.6%. It also reached a new all-time high on 20 August, before declining only marginally at the end of the month.

Going into September, the gold price has lost some of its gains, but still remained comfortably above the psychological mark of $2,500 (€2,267) during Thursday’s European session.

Continued central bank demand for gold, a weaker dollar and global geopolitical tensions, as well as optimism that the Federal Reserve will cut interest rates this month, explain the recent price rallies.

On the other hand, the expected US Consumer Price Index (CPI) report released yesterday (Wednesday) shows that inflation continues to moderate, dropping four tenths during August to 2.5% y-o-y, while core inflation remains at 3.2% y-o-y, as expected. This dampens expectations of a large rate cut by the Fed, which both boosts the value of the dollar and may moderate demand for gold.

Will gold prices continue to rise?

Although the latest report published by the World Gold Council (WGC) acknowledges that the current macroeconomic environment is difficult to interpret due to a plethora of conflicting economic data, this macroeconomic uncertainty is reflecting positively on the gold market.

In this regard, it reports that activity in Options spreading positions (OSP) has been steadily increasing, approaching levels not seen since 2020 or during 2011 and 2013. This reflects investors’ willingness to hedge against changes in interest rates and the outcome of the upcoming US election.

‘Looking back over these periods, it seems that the triggers for an increase in OSP activity were related to one of two scenarios: a change in interest rate policy or risk events in the market. Today we face both,’ notes the WGC.

Analysts at ING Research, on the other hand, believe the expected Fed rate cut will push gold to new all-time highs, while the US presidential election in November will also continue to contribute to the gold metal’s upward momentum until the end of the year.

In conclusion, despite the price rise, gold’s ability to act as a hedge against economic volatility, its stability in the face of inflationary pressures and the increase in global demand are key factors that continue to reinforce its attractiveness as an investment and as a safe-haven asset. That said, its price can be volatile sometimes, so it is crucial to assess the risk we are willing to take and clearly define our investment objectives before making a decision.

Preciosos 11Onze makes it easy to buy gold, at the best price and with total security. Give us a call and speak to one of our agents without any obligation to clarify any doubts you may have and protect yourself from economic crises with the ultimate safe-haven asset: gold. If you want your savings to keep or increase their value, Gold Patrimony.

Spain is the second country in the European Union where its population has the most money saved without remuneration. A large part of Spaniards’ savings is in current accounts and deposits that give very low returns that do not compensate for inflation. Are we investing too little and poorly?

Families have drawn on the almost 270,000 million euros saved during the worst phases of the pandemic to sustain spending in the face of the sharp price rises of the last two years. Even so, the gradual reopening of the economy and the rising cost of living have caused a large part of this accumulated savings pool to evaporate.

Even so, after the erosion suffered in 2022, the household savings rate has been recovering. It stood at 6.2% of their gross disposable income in the first quarter of the year, an increase of 83% compared with the same period a year ago. If seasonal and calendar effects are removed, it is equivalent to 14.2% of their disposable income, 1.2 points higher than in the previous quarter and the highest since the third quarter of 2021, according to the latest data published by the National Statistics Institute (INE).

In total, this is an increase to 14,119 million euros, while investment remained at 14,200 million euros, 1.3% less than the previous year. On the other hand, a financing requirement of 773 million euros was recorded, compared with an estimated financing requirement of 7,312 million euros for the same quarter of 2023.

Low-yielding financial instruments

Fixed-term deposits (38%), direct investment (32%), investment funds (15%) and Treasury bills and variable-term bonds, among others (11%), are the main options chosen by households seeking to make their savings profitable and protect themselves from the general increase in costs. The problem is that many of these options offer low returns that do not compensate for inflation.

Therefore, even though as a percentage of GDP, net financial assets represent 144.7%, a ratio 3.4 points higher than in the previous year, many people do not want or do not know how to generate wealth with their savings, which are being consumed by high inflation.

In Spain, there is almost a trillion euros in current accounts or cash, without remuneration and that even, in some cases, entails maintenance costs. Rodrigo Buenaventura, president of the National Securities Market Commission (CNMV), pointed out two months ago in an appearance at the Congress of Deputies, “Our citizens invest their savings in a way that can be manifestly improved”.

How to increase the return on savings

As a general rule, investments that offer high returns come with high risk, while low-risk investments offer more stable, but potentially lower, returns. However, at 11Onze we have shown that this does not always have to be the case.

Saving with 11Onze is always based on one maxim: they have to be safe propositions. That is why we have made a firm commitment to gold, because of its historic role as a store of value. We offer you gold bars in two formats: Gold Patrimony and Gold Seed. Bearing in mind that gold has doubled in value in the last five years and that its price rose by 15% in 2023, it has established itself as an excellent option for dealing with inflation.

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It is a product that has been structured exclusively for members of the 11Onze community, offering two ways to participate: an option that returns your capital and possible profits after one year, or another option in which your capital works for a few years and provides you with a monthly return in six months.

If you want to discover the best option to protect your savings, enter Preciosos 11Onze. We will help you buy at the best price the safe-haven asset par excellence: physical gold.

Throughout history, gold has remained the ultimate store of value precisely because it maintains or increases in value during periods of economic uncertainty. That is why buying physical gold is an excellent investment option that is usually safe and profitable. However, it can also carry risks if some basic precautions are not taken into account.

Its long-term profitability, the possibility of diversifying and reducing the risk of our investment portfolios and its great liquidity that allows us to quickly recover the money invested in case of need, make gold a very attractive asset for any investor or person who wants to protect their savings in an inflationary period or in times of economic crisis.

In the last five years, it has experienced a spectacular increase in value, doubling in price and reasserting itself as the most valuable asset on the market. However, it is advisable to take certain precautions and avoid making certain mistakes when acquiring this golden metal, which we detail below:

Ignoring the purity of gold

Gold bullion must be at least 99.5% pure, although 99.99% pure gold bullion is common, while coins must be at least 80% pure. Bullion and coins that do not meet these purity standards will be subject to the standard VAT rate of 21%, which applies to the purchase of other precious metals. Preciosos 11Onze gold guarantees the highest purity (999.99 out of 1,000).

Confusing physical gold with digital gold

It is essential to be very clear that physical gold is a raw material that, once acquired, automatically becomes the property of the customer. On the other hand, digital gold, usually in the form of ETFs, are exchange-traded funds run by a fund manager, which operate on a system of leverage, so that not all the gold that is represented in the ETF’s holdings have physical gold behind them to support them.

Disregarding buy-backs

One of the first questions to ask the trader or platform that has sold us the gold is whether, if we want to sell it, he offers a buy-back service. If not, we must be suspicious of the selling price and the reliability of the trader. At 11Onze we make it easy for our customers who store their gold at home to find a buyer at the best possible price for the customer, or we sell it on their behalf if they have contracted a custody service with us.

Not planning for storage

Physical gold needs secure storage such as safes or professional storage services. Not having a safe place can expose your investment to theft. By contracting a safekeeping service, you ensure that your gold is protected and insured by a professional storage company specialised in precious metals.

If you want to discover the best option to protect your savings, go to Preciosos 11Onze. We will help you buy at the best price the ultimate safe-haven asset: physical gold.

Since the beginning of 11Onze, we have been informing our community that gold is a great tool to protect savings and that its price would continue to rise. Time has proven us right. In the last five years, it has experienced a spectacular increase in value, doubling its price and reaffirming itself as the most valuable asset on the market.

The price of gold has consolidated above 2,150 euros per ounce after the third consecutive month of upward movement, despite the slight drop in price in mid-May. The strength of its price during the first five months of the year has been caused by strong demand from central banks in emerging economies due to geopolitical tensions and persistent inflation.

Since the beginning of the year, gold has risen 17%, following the upward trend of 2023 when, although it experienced some fluctuations during the year, it rose 15% on the back of the US banking crisis, geopolitical tensions, military conflicts and the US Federal Reserve’s monetary policy.

John Reade, chief market strategist for Europe and Asia at the World Gold Council, noted a month ago that gold prices have experienced a remarkable rally, doubling over the past five years since 2019. What’s more, Reade pointed out that the gold metal’s price performance has been largely independent of that of the US dollar, which is usually one of the biggest drivers of gold prices.

Developing economies lead the way

The WGC analyst explained that emerging markets, particularly India and China, already account for half of the global gold market share after experiencing an increase in production and trade in the precious metal. Furthermore, he expects the price of gold to rise substantially soon, citing continued buying by central banks as the main driver behind the upward trend.

‘We urge investors to incorporate gold into their financial and investment portfolios and to seek diversification. Gold not only diversifies, but also stabilises financial portfolios. Moreover, any reduction in US interest rates is likely to have a favourable impact on gold prices,’ Reade advised.

Other analysts, such as those at Bank of America, expect the rally to continue and believe that a price of 3,000 dollars per ounce is possible by the end of the year. Economic uncertainty, expansionary monetary policies, inflation, and currency devaluation continue to be as relevant today as they were a few months ago and could continue to drive the price of gold in the near future.

Preciosos 11Onze makes it easy to buy gold, at the best price and with total security. Give us a call and speak to one of our agents without any obligation to clarify any doubts you may have and protect yourself from economic crises with the ultimate safe-haven asset: gold. If you want your savings to keep or increase their value, Gold Patrimony.