Because of the low interest rates, many people think that saving is no longer profitable. However, the opposite is true. Discover today:save all options in a row.
Having savings provides security. By having a certain amount in reserve, you can be sure that there is always money for unforeseen costs. Think of things like replacing a household appliance or buying another car.
It is also wise to save if you have children. By saving for your children you give them a bit of security for the future. For example, you can save for a driver's license, the first car or study carefree.
There is a good chance that as a child you had a piggy bank somewhere, in which you put your pocket money. That way you could save for a little extra. With age, the piggy bank was replaced by savings at the bank with a savings account. Until a few years ago this was still interesting, because you received a nice interest on the savings.
A lot has changed since then. Not all children still receive pocket money in the form of real money. Especially (pre)teenagers often already have their own account with accompanying card. This makes saving for children a lot more abstract. In addition, the interest at banks is very low:in most cases you only get 0.1% interest. A negligible amount for most people.
Does that mean you can no longer save at all? Luckily not. There are still several ways to save. These are discussed below, including their pros and cons.
Saving at the bank is still possible. However, the interest on a normal savings account is negligible. Only savings accounts for children often give slightly more interest. In addition, some banks also offer the option of saving on deposit.
With this form of saving, your money is locked up for a certain period of time. This means that you can often not get your savings for 10 years or more. The disadvantage of this is that you cannot use your own savings in the event of unforeseen costs.
Another way to save money is to invest. Investing is according to Wikipedia:“An investment is a form of investment in which money is committed for a longer or shorter period of time with the aim of gaining financial benefit in the future. In investing, one offers capital in exchange for uncertain income in the future. Legally, investing is regulated by securities law and to a lesser extent by company law.'
There are several options for investing. You can invest in stocks, bonds and, for example, real estate. There are certain risks involved with investing, since you cannot predict in advance whether the product will increase or decrease in value over time. If you are new to investing, it is advisable to first thoroughly delve into this or to involve an advisor in your decisions.
Since the emergence of Bitcoin, the developments in the field of cryptocurrency have been very rapid. You can now choose from more than 3,000 different digicoins. In most cases, the return remains unprecedentedly high. Of course there are fluctuations:sometimes you will have to settle for losses, but very often you will also just make a big profit with the invested money. This profit can easily go up to 200%. No bank offers this interest rate.
Before you take a leap of faith, it is good to read up on crypto currency. Can't figure it out yourself? Then it is advisable to involve an expert, such as Bitonic. This is a bitcoin consultancy that provides seminars and training on cryptocurrencies.
Would you like to try it without having to worry too much about it? Then you can join Bitvavo with an amount under 1000 euros without trading costs. This crypto trading exchange is suitable for beginners and advanced. You can passively earn (save) money here.
Investing in real estate yields more returns than just saving. In addition, the chance of winning is many times greater. In recent years, house prices have risen by tens of percent. Especially if you buy a house that needs to be refurbished and then sell it again, you always make a large and quick profit. The disadvantage of this is that you must have a certain amount for the purchase of the house (about 10%) and possibly the renovation.
Paying off the mortgage (or part) of it in the interim can also result in large savings. This saving is reflected in the monthly costs. These can therefore be reduced, leaving room to use the difference for other costs. You can also invest the difference in investments or crypto currencies. A disadvantage of extra repayments is the fact that some providers impose a fine if you repay earlier.
This works best through crowdfunding for businesses and micro-credits for social entrepreneurs. In any case, both yield a higher return than the old-fashioned saving at the bank (calculate between 4 – 8%). Unfortunately, this is not entirely without risk. If the company files for bankruptcy or incurs payment arrears, banks and, for example, the tax authorities will first receive payment of money. It can therefore also happen that your investment (partially) evaporates.
Don't have a lot of money to save, but still want to have a little on hand? Then you can consider saving through supermarket purchase stamps. You can buy savings stamps with every purchase at the large supermarkets such as AH and Jumbo. You stick these in a special booklet or are added to the online savings book of the app. A full book yields a few percent interest. This is relatively more than at all banks.
The advantage of this is that you often only spend a few tens of cents or euros extra every time you do your shopping. This allows you to save without noticing. There are no real disadvantages, unless people are still working with old-fashioned booklets to stick stamps in. Then the disadvantage is that you could lose the booklet.
The last option to save is to save abroad. There are various options for this. Both the country where you want to save and the currency. Keep in mind that it provides relatively little benefit (more than with the Dutch banks) and that you run a greater risk. In addition, currency fluctuates quite often, so you are not sure of the value of your savings (this can even change by the hour). The quick and easy withdrawal of money can also be a problem.
Which form of saving do you prefer?
