Commercial message: 8 ways to save money

Saving money is certainly a very conscientious and appreciable activity. However, if you decide to save your funds, you should choose an option that will at least protect them against inflation. Of course, it is ideal to choose options that bring a certain degree of appreciation. In the following article, we will discuss some of the most commonly used methods.

Building savings

A very popular form of savings that offers a relatively decent interest rate. However, the main advantage of building savings is the possibility of obtaining state support, which you will receive when realizing a predetermined amount of savings. On the other hand, the disadvantage of this method is the impossibility of using the funds before the end of the savings period.

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Savings accounts

Savings accounts are much more flexible than building savings and you can immediately transfer money from them to regular bank accounts. The disadvantage is a significantly smaller appreciation through interest, which is far from reaching the same values ​​as in the case of building savings. So it is more of a means to force you to regularly set aside free funds.

Saving money in current accounts

Of course, you can also save in a regular bank account. They have minimal interest, on the other hand, the money here is the most liquid and immediately ready to be used for payments.

Savings in cash

Another method used is depositing money in cash "in the straw" without using cashless banking products. In these cases, it is necessary to secure the money well against theft and count on zero interest when saving it.

Investing beats inflation

Unfortunately, the above examples (perhaps except for building savings) will not protect you from inflation. That is why investment activities are an increasingly popular variant of saving savings. The portfolio of possible investment opportunities is very broad, from traditional commodities, shares, currency trading (forex) to cryptocurrencies.

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Thanks to investments, you can get very high returns, on the other hand, there is a significant risk of losing the value of your own invested funds.

Other options

Other types of savings also include Retirement Savings, mutual funds or life insurance.