2023-07-10 11:56:29
Saving has become one of the main objectives due to the uncertain times we are experiencing. One of the most widespread methods is to save the money in bank accounts for future use. Although this is one of the ways to save money that millions of people repeat, the truth is that it might not be the best option.
This is confirmed by the OCU, which He has published some tips on his website to know how much money you should have in the bank (and what to do with what you don’t keep in your checking account).
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Inflation, enemy of money in the bank
The current situation is marked by inflation, one of the words we have heard the most in recent months. At present, due to it, having the money saved in the bank might not be the best option when it comes to saving.
The reason is that doing so does not imply gaining purchasing power, but rather the contrary. Inflation is one of the great enemies of the saving due to the fact that purchasing power remains on a monthly basis and without us hardly noticing.
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What is the relationship between savings and inflation?
If we go back to just a few months ago, we will see that the number of things that could be bought with a certain amount of money has decreased. That is, the savings you have in the bank are used to buy fewer things than a while ago.
This is the negative relationship that inflation has with the saving. When the CPI or Consumer Price Index increases slightly, this may not affect you. However, currently, with prices on the rise, this situation can be felt in your pocket.
This is the money you should leave in the bank according to the OCU
For all this, from the Organization of Consumers and Users, better known as OCU by its acronym, they have published a tip that can come in handy. This is how much money you should have in your bank account, especially in this inflation situation.
From the OCU they recommend, in this aspect, that users only have in the bank the money that corresponds to three months of their salary. With this amount, you can meet current expenses while having a small emergency cushion.
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What to do with the money you have outside the bank
Another question that will come to mind, especially if your savings are higher, is what to do with the rest of the money. From the OCU they recommend that an attempt be made to make the remaining amount profitable.
At this point, the way to do it will depend on how long the person can do without this money. On the other hand, the organization advises that it is not advisable to leave amounts in the same bank that exceed 100,000 euros. This is so because, in the event of bankruptcy, this is the maximum amount that the Deposit Guarantee Fund covers.
One year deposit
In the event that you can do without the remaining money for a year, the OCU recommends leaving it in a one-year deposit. In it, the money should not be withdrawn prematurely, since the penalties may be higher than the interest received.
Deposit with a term of between 5 and 10 years
On the other hand, if you can do without money for a longer time, it may be interesting to choose a deposit with a term of between 5 and 10 years. In them, more satisfactory results can be obtained in terms of profitability.
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