Do Poles know how to save money?
Although saving is not easy, it is becoming easier and easier to save money. Many families have undoubtedly been helped by the 500+ program. Now parents can allocate part of the allowance to the children’s current needs, and save some cash for the future. Research shows that over two-thirds of Poles surveyed decide to save, and in 2016 Poland stopped standing out from other European countries that are depositing funds for a later period 1.
The group of the most economical Poles are young people aged 25-44 2. This is proof that they are thinking about their future and will definitely be interested in the possibility of using automatic saving programs. The more that cleverly putting money away costs nothing, and attractive saving offers effortlessly is offered to us by more and more financial institutions.
Automatic saving programs for clients of Polish banks
The so-called “automatic piggy banks” are a way to fight temptations. Even if we crave for a sudden whim, we will be able to put aside the small ones that will remain after financing it. Therefore, the automatic saving function can be compared to a small jar, but unlike it – we will not steal money being deposited. The offers of individual banks in this respect may differ slightly, but the most important idea remains the same. With each expense paid by card, we put a small amount into an interest-bearing bill.
Therefore, when establishing a bank account via the Internet, we should check whether such a service will be available to us. If not, just as you choose a loan company, it is worth spending a few minutes more and looking for another proposal. Thanks to this, we will save money without thinking about it. With such a service comes to us, among others PB, OutBank, mBank and Credit Agricole. Let’s take a closer look at the first two offers indicated.
Supplying savings in PB
PB supports us in systematic and painless saving. The option of automatically depositing cash can be started on the account for PLN 0, which we will see by looking at the ranking of personal accounts for PLN 0. We can take advantage of one of three possibilities, namely with each payment by card we allow transfers to the account:
- a fixed amount determined by us, e.g. PLN 5,
- the percentage value of a given transaction,
- tip of the amount paid, which is rounded to the nearest zloty.
If you are just setting up an online account, do not forget to ensure the security of your data on the web. The most important is a strong password that will make it difficult to enter our account. We also should not log on to computers that do not belong to us. If we have to do it, let’s use the incognito mode. Let’s also try not to connect to public networks, e.g. in cafes or shopping centers. A few simple behaviors will allow us to protect against the theft of personal data.
OutBank with the Smart Saver savings account offer
OutBank is the second bank. Let us not be fooled by our own assurances that we will postpone a larger amount at the end of the month. We know well that this is a practically impossible task. The Smart Saver savings account, like PB, is a saving by the way, and an attractive percentage. We set the rule by which we want to save small amounts and enjoy the constantly growing balance. OutBank suggests rounding the card transaction amount or transferring from 1 to 10 percent of the card transaction amount.
The piggy bank mechanism costs nothing and does not carry any risk. That is why it is worth to join the trend of saving by young people and use the services allowing to accumulate small emergency funds. Over time, the sum collected on it can pleasantly surprise us.
Auto saving also for children
The saving service can also be found in the child’s bank account offer. Similar to the service offered to an adult account, PKO Children’s Account is automatically topped up in accordance with the method chosen by the parent. These are the abovementioned transfers of a fixed amount per transaction, transfers of a percentage value after the transaction and transfers of the end amount that the bank rounds to full zlotys.
How to activate the service? This can be done at any branch or agency of Pancor Bank. We will easily support our child’s savings.
How to plan expenses and save on several fronts?
Remember that it is best to save on several fronts. Cleverly depositing cash on your account will bring us benefits, but if we use some other interesting ways to build an emergency fund, the balance of our savings will increase. We should:
- plan your expenses carefully, keeping in mind costs that cannot be avoided. It is not only bills and daily needs, but also holidays, holidays or expenses related to the new school year,
- invest a surplus of cash, e.g. on deposits. If we have never invested money, simple and safe ways will be the best choice for us,
- look for extra work that we can do in our free time,
- beware of over-indebtedness by taking too many loans online. Sooner or later we can be listed in the ERIF or KRD register of debtors. When this happens, it will be virtually impossible to take out another loan. For lenders and lenders, our solvency is the most important thing.
Non-bank loans do not interfere with saving
Non-bank loans are not an obstacle to saving. On the contrary, payday loans can help finance smaller and larger expenses, provided that rational decisions are made. What does it mean? We must carefully select offers, deciding on the most favorable proposals, check the credibility of financial institutions and carefully read contracts. When signing your documents, you should be sure that you know all the fees and know what amount you will be required to return.
The payday rankings and installment loan rankings will help us find the best offer. We can also use hints about online loan offers on financial websites, where we will find many interesting articles on how to borrow and care for the budget.