Smart Saving for a Secure Financial Future

In today’s fast paced world, we understand how important it is to be able to conveniently save for your future. To help you save smarter, here are some simple tips to remember:

Set Clear Savings Goals

Start by setting both short-term and long-term financial goals. Think about what’s important to you both now and in the future and use these goals to guide your savings plan. With a clear understanding of your priorities, it’s easier to track your saving progress. 

Make Saving Automatic

To build a habit of saving, automate it. Choose an amount that works for you and have it automatically transferred from your primary account to your savings account each month. It makes saving effortless and ensures your savings are always growing, no matter how busy life gets.   

Create a Budget and Stick to It

A well-designed budget makes saving so much easier. By tracking your income and outgoings, you can easily identify areas you can potentially spend a little less in. 

One simple budgeting method is the 50/30/20 rule, in which you divide your monthly income into three clear areas:

•   50% of your income is used to cover your needs. Think of everything from rent to bills to food shopping.
•    30% is spent on your wants. This can cover things like eating out, travelling or treating yourself to a new outfit.
•  The remaining 20% of your income is saved! Maybe you’re topping up your savings account or putting money towards investments.

Take Advantage of Saving Products

Maximise your savings by exploring dedicated savings accounts. With high-interest and fixed-deposit (FD) accounts, like our CBI Saver and FD products, you can save more money over time. 

It might also be wise to look in to keeping different accounts, whether current or savings, for different priorities and ultimately, more control. Take the time to learn what best fits with your financial goals. 

With CBI, saving doesn’t have to be difficult. Secure your financial future one saving step at a time.

*Kindly note, this information is for general guidance only and should not be considered financial advice.