Saving is one of the main pending subjects for Spaniards. The latest studies by the Bank of Spain confirm this: in 2018, we only managed to save 4.87% of what we entered , which places the population's savings rate at historical lows.
This low saving capacity is related to the increase in consumption and the low evolution of wages, but it also has to do with ignorance. Many of the Spaniards have not been able to develop a culture of saving and, even with a comfortable income, they are not able to save money.
But saving is not complicated. It only requires a small effort of planning and cost containment . In addition, we have instruments that facilitate the work. Two examples are ABANCA's Clara Account and Calderilla Account, which allow us to save a little every day without hardly noticing.
I want to save: where do I start?
To start saving, the first thing you need to know is where the money is spent . Then you will have to prepare a monthly budget and, at the end, you will have to take the scissors to cut. In the whole process, we will not be alone; banks and new technologies are going to be on our side and provide us with a point to lean on.
1. List of expenses
The expenses of a family are of different categories. On the one hand, there are the so-called fixed expenses; Then there are those related to day to day and finally everything related to leisure.
- Fixed expenses : they are invariable. This includes housing (rent or mortgage), schools, parking rental, Social Security fees (self-employed), loans, installment purchases, gym fees, etc.
- Supplies : they will vary depending on consumption. This includes expenses for water, electricity and electricity, fuel for the car, telephone operators, transportation, etc.
- Household expenses : include food, hygiene, clothing, sanitation, school supplies, etc.
- Leisure : this section is very variable; It may include lunches, dinners, trips to the cinema or the theater, playful activities for children, etc.
In order to be clear about all these expenses and to be able to analyze them month by month, it is best to work out an Excel sheet or use a mobile application for this purpose. In this way, we can perform the calculations quickly and see which items are generating the most expense. This will help to prepare a monthly budget and will be the starting point to establish a savings plan.
2. Budget by items
Do we already know where the money is going? Now it is time to manage it and that goes through preparing a budget. The starting point of any budget is the capital we have, that is, income . Then you have to make a forecast of expenses and assign a specific budget line, including a section for contingencies.
The important thing about the budget is to try not to deviate from it. Also keep in mind that not all months are the same ; concepts such as insurance, taxes, etc. must be punctually added to the usual expenses. There are also times of greater consumption, such as Christmas or summer holidays, which will require an extra capital contribution.
3. Savings plan
With the monthly budget in hand, it's time to create a savings plan and see where it can be cut. Here you have to be very realistic and set yourself easy goals to assume. The items that save the most are food and leisure. 2 × 1 offers, promotions, discount coupons … all these resources are useful to cut spending. You can also save a lot on energy, especially on heating and air conditioning.
Clara Account of ABANCA and Calderilla Account
With the help of banks, it is also possible to save. An example is the Clear Account of ABANCA, which, from the outset, gives the user € 150 just for direct debiting the payroll. It is an online current account without commissions , which allows you to withdraw money at thousands of ATMs and which has an app to manage payments from your mobile. But the most interesting thing about the product is that it allows automatic savings.
Clara Account has a paid auxiliary account , where the balance exceeding € 3,000 will stop. The deposit offers a minimum of 0.05% APR, to which must be added another remuneration of 0.15% APR for the direct debit of the payroll.
Another ABANCA product designed for savings is the Calderilla Account, linked to electronic banking. How does Cuenta Calderilla work? It is very simple: just go to the "cards" section and activate the service. Each time you make a card purchase, the account will round the price up to the next multiple of 5 . For example, if you make a purchase of € 26, you will be charged € 30. Those € 4 difference will go to an auxiliary account with a remuneration of 0.15% APR.
So, you see; saving is not just a matter of effort and containment; banks also help.