Small changes you can make for better finances this 2022
Let’s be honest. Keeping up with your New Year’s resolution is a tricky thing to do. It’s not easy to drastically change your lifestyle and habits in a snap, let alone maintaining these changes throughout the year. That’s why it’s important to take things slowly but surely especially when it comes to your finances. So here are four small changes you can make for yourself to better your finances this year.
Put debt payment first
There’s nothing better than starting on a clean slate! While debt is an important part of everyone’s financial journey, it’s always best to be responsible and smart about handling it, especially when it comes to payment. Prioritize debt payments if you have any. That way, it would be easier to reach your goals when you have less dues to settle.
It’s easier to do something when it’s a no-brainer. Make setting aside money hassle-free by setting up automatic deposits to your savings account. When you do this, you’re sure that you will always have money set aside for a rainy day even without making much effort.
While tracking your budget and savings does not require much effort, it creates a huge impact on your perspective on money. There’s a variety of readily available templates online that you can use to keep an eye on your expenses. You may use these trackers to know if you’re on track with your savings goals or find out which areas in your budget need restructuring.
Get more from your savings
It’s important to keep your money in a safe and secure place, but making sure that you get the best value on your savings is just as important. Look for banks or savings accounts that offer higher interest rates to make sure that your money does not remain stagnant throughout the years.
At CIMB Bank, you can enjoy the best-in-market interest rate conveniently! You may open an account right on your mobile phone in as fast as 10 minutes. No minimum deposit, no maintaining balance needed, and with fewer fees! Plus, you have three ways to enjoy a 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 January 1, 2022, 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 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: