How to save up and not torture yourself

Saving up for a serious purchase is hard. You can, of course, get a loan and take the same car right away. But the debt will have to be repaid with interest. You can, on the contrary, open a deposit, and the interest will be charged by the bank. But if you withdraw the money ahead of time, the interest will burn out. And on the car, as luck would have it, a big discount, and generally a sale.

To make it easier to save, the bank offers another product - a savings account.

What is a savings account

This is something like a card with an interest on the balance. Only the client puts the money in the bank and can withdraw it whenever he wants. Accrued interest will not expire.

Usually the bank offers to open a savings account for a specific purpose and calls it a target account. The client decides what to save for, how much and for how long, and the bank calculates how much to save each month to reach the goal. Such an account is no different from the usual one - only the amount of monthly replenishment is indicated.

Why is he good

A savings account will save you the temptation to let go of everything you already have. The money from this account will not be able to pay off in a bar or shop: the bank will, as it were, hide it for you. Just issue an automatic top-up and don't worry about your account anymore. As a result, the money will wait in the wings.

In this case, the savings account is always available. If you are saving up for a vacation in Greece and suddenly a burning ticket appears, you can withdraw the required amount without any losses. And if you put it aside in the financial reserve, then in which case you can immediately use the accumulated money.

A savings account is also more reliable than a card. It cannot be lost, exposed in front of scammers on the website or at an ATM. And he, too, is under the protection of the Deposit Insurance Agency.

How to use it

Do not withdraw money several times a month. It happens that the bank charges interest on the minimum balance. If at the beginning of the month there were 200 thousand rubles, in the middle - 100 thousand, and at the end - 300 thousand, interest will be charged only on 100 thousand. Therefore, it is better not to withdraw money at all until the required amount has been accumulated.

Store a large amount. Usually, the interest on the card balance is higher, but up to a certain amount. For example, if the balance on the card is not more than 150 thousand rubles, the bank will charge 8%. On the savings account, the interest rate is 6%, but the maximum amount is not limited. Under such conditions, it is more profitable to deposit more than 150 thousand into the account, and keep a smaller amount on the card.

Follow the messages of the bank. The interest rate is not fixed, the bank can change it. But he always warns about it. Follow the messages to notice in time that the account is no longer profitable.