If you save cleverly, you can also afford something with a clear conscience.
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With the turnaround in interest rates, classic bank deposits with fixed interest rates are also making a comeback. That’s why young people in particular should look around, experts say.
WHaving grown up with the banking and financial crisis of 2008 and the subsequent low to negative interest rates, he knows savings accounts and the like mainly from stories. For financial planning with the first own salaries, shares offered the only hope for a respectable return. But stock trading is complex and risky, so many people have their money sitting dormant in their checking accounts – and inflation is causing its value to dwindle rapidly.
With the turnaround in interest rates, savings deposits are also becoming interesting again due to rising interest rates. “It is helpful to consider which form of bank deposit corresponds to one’s own usage behavior and savings goals,” says Andreas Bley, chief economist at the Association of Volksbanken Raiffeisenbanken. Because a “healthy mix” of different investments and bank deposits ensures a balance between security, availability (liquidity) and profitability. While stocks promise rather high returns, but could be in the red if the washing machine needs to be replaced in the short term, classic savings deposits are often available more quickly without losses and offer better planning.
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