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Regular saving brings security to your finances, does not require big income or initial capital, and is suitable for those who want to accumulate a reserve fund.
Tips for saving - save regularly
- Regular saving brings security to your finances,
- does not require big income or initial capital, and
- is suitable for those who want to accumulate a reserve fund.
1. Choose a suitable amount that you can increase with time
Usually the best way is to put away a certain amount on paydays: when you do not see the money, you will not miss it, either.
For example, if you save:
- 2 euros a day = 60 euros a month = 720 euros a year
- 5 euros a day = 150 euros a month = 1,800 euros a year
2. Choose a saving product
- A suitable alternative for regular saving is fund saving, where the minimum amount to be saved is 40 euros a month.
- Saving in our funds for savers is hassle-free, since our professionals follow the markets and the funds' investments on your behalf. You can easily find a suitable alternative from our six funds for savers.
- The ASP account is suitable for young adults (aged 18 to 39) for saving the initial capital for their first own home. The minimum monthly sum to be saved is 50 euros.
- You can also save small sums in an account. The ePiggy, for example, can help you with this.
3. Stick to your plan - Regular saving mitigates the effect of market volatility
Since market movements are impossible to forecast, it is difficult to time your investments at the best possible moment.
When you invest in several increments instead of everything in one go, you can avoid the risk related to timing.
By investing regularly, you can reduce the effect of market fluctuations over the long term, so you won't need to fret about market movements.
Time diversification benefits investment in funds
The biggest benefit from time diversification can be gained by investing in assets with a highly fluctuating value. Such assets include equities, for example.
When you buy units in equity funds or balanced funds on a regular basis, some of your units will inevitably be bought at a time when their price is high, but the regularity of your investments will ensure that some are bought at the lowest prices.
- Over the long term, you will always buy the fund units at the market price and benefit from any positive developments in the market.
- And you should continue your regular saving when the market experiences a dip.
- Every dip is an opportunity because the same monthly sum will buy you more fund units.
