The most recent financial inclusion report evidences the dynamics of savings accounts. According to the Financial, in the country there are 33.7 million abandoned accounts. Despite the fact that last year (2016) the number of these products designed to save reached 62.1 million with an increase of 2.3% against the previous year. Only 28.4 million of them had at least one movement in the last six months. The abandonment by users amounts to 54.2%, says the report.
The abandonment understood as the fees associated with the management of the savings account. The very low returns offered by this alternative. If you consult the application of rates of credit establishments of the Super financier, it observed that for a fee of handling of the card debit. That used for all the operations of payments, withdrawals and the purchases. However, this type of accounts becomes an ally for the savings at this Christmas season. Continue reading “Tips to make your savings account become an investment”
One of the most repeated questions when they know you are a financial advisor is what must be done to make our savings profitable? How can I create a heritage? One of the most effective systems for this is the PAC, the Savings Accumulation Plan that consists of making monthly contributions over time, experts indicate that at least 5 years. Thus, capital accumulates gradually, without the need to watch the evolution of markets and exchanges. The capital accumulation plan, guarantees a high profitability in the long term.
Explain it as follows:
Savings plan the fundamental idea of this savings plan is that investors are not able to continuously predict how the markets will evolve, so it is best to be constant and invest a quantity continuously over time. The more time we have, the more options to get higher returns, so the sooner we start with a more capital saving plan we can accumulate, the progression is exponential. Reason is hidden in compound interest ie interest generated on interest. You can see an example of how it influences the time factor in savings in this comparison of two savers the greatest advantage of youth time. Continue reading “How to save money in a cost-effective way”