Time sure does fly by fast. Just like that, we’re already down to the last three months of 2021! October means World Savings Day is right around the corner. On the 31st day of this month, we are all reminded of the importance of setting aside money for the future.
Here are a few things you can do to get ready for World Savings Day:
1. Share your saving hack with others
Saving is for everyone! Help others realize the joy and wonder of saving money by sharing your favorite money saving tips or hacks to your friends and family. If you have any kids, this is also the perfect opportunity for you to teach them the value of saving money. Introduce piggy bank saving or open a savings account for them and let them be part of the process. This way, they will not only learn how to save, but also learn how to be more responsible with handling money.
2. Avoid unnecessary spending
Did you know that Worlds Savings Day is also known as Thrift Day? You read that right, it’s also a day that reminds us to be extra careful with how we spend our money. Why not make it a point this month to avoid any unnecessary spending? It can be as simple as making a grocery list and sticking to it or staying away from your favorite online shopping app. You’ll never know how much these small deeds can help you save.
3. Come up with your savings goals
With World Savings Day just right around the corner, now is a good time to sit down and think about your goals. Write down a list of financial goals that you want to accomplish in the next five years as short term goals. You may also take time to reflect and think of your long-term financial goals such as retirement or home ownership. With clear goals set in mind, it would be easier to identify which part of your lifestyle you can adjust in order for you to achieve your targets.
4. Start saving today
You might have read this about a dozen times already, but there’s really no better time to start your savings journey than today. Start small so as not to feel overwhelmed. It can be as simple as saving PHP 50.00 a day or setting aside 10% of your monthly income to go to your savings. Do whatever works for your lifestyle but make sure to be diligent and you will persevere. Before you know it, you’ll be ticking off boxes on your list of goals.
5. Open a high-interest savings account
There’s no better feeling than knowing that you’re getting the best value for the money you save. Opening a high-interest savings account gives you the security and confidence that your money will never decrease in value with inflation. Choose a savings account that is accessible and has fewer fees to maximize your savings.
At CIMB Bank, you can enjoy the best-in-market interest rate conveniently! You may open an account right on your mobile phone is as fast as 10 minutes with fewer fees to keep in mind. Plus, you have three ways to enjoy higher interest of 4% p.a. on your savings. First, is to maintain minimum balance of PHP 100,000 in your UpSave and/or GSave account. Your second option is to grow your Average Daily Balance (ADB) by PHP 1,000 each month in your UpSave and/or GSave account to enjoy a higher rate on your savings. Plus, if you maintain a minimum of PHP 5,000 in your account, you are eligible for FREE Life Insurance coverage that’s worth your ADB up to PHP 250,000.
If you’re a student or a fresh grad aged 18-25 years old as of September 1, 2021, the CIMB Savings Starter Pack lets you enjoy a higher interest in your UpSave and/or fully verified GSave account. You only need to deposit at least PHP 500 each month and you can even get a Personal Accident Insurance coverage worth PHP 50,000 for FREE.
Find out how to get 4% p.a. interest when you maintain PHP 100,000 in your savings account with CIMB Bank here: