Simple ways to save
04/03/2025
Can you imagine saving money without even noticing it? Saving is important to ensure our long-term financial well-being. There are options, such as virtual piggy banks and cards with rewards that can facilitate savings in our day to day. Here are some practical ways to save.
Virtual money jars
A virtual money jars are digital tools that allow you to save money in an easy and organized way. There are applications designed for this purpose and today many banking applications include this option.
Some banks give you the option to round up your card payments and transfer the difference to a savings account. You can also choose to transfer a fixed percentage of your monthly income or set up automatic transfers at the frequency you choose.
In this way you keep your savings organized and out of your daily reach, which helps you avoid unnecessary expenses.
Cards with cashback
There are credit and debit cards that have cashback programs, which return a percentage of the money spent. This means that every time you make a purchase, you're saving a small amount.
Some cards require payments to be made at specific merchants to benefit from cashback. In addition, there are cards that also offer discounts on certain businesses that should not be confused with the money back program.
When choosing a card, it is important to know its features to see if it really fits your needs and you will be able to take advantage of the benefits they offer. Consider aspects such as commissions (if any), the percentage of cashback or discount that apply to you, if there is a monthly return limit and the period in which the refund is made.
Cards that allocate a percentage of purchases to other financial products
Some cards contribute a percentage of your purchases to financial products such as pension or investment plans.
Each entity establishes the requirements that you must meet to benefit from this option. In any case, it is essential that you carefully review the conditions of these cards and the associated products, since sometimes there may be commissions that make the offer not as attractive as it seems.
Using your bank account and card wisely can help you save without realizing it. With options such as virtual piggy banks, cashback programs and cards that allocate a percentage of your purchases to other financial products, you can increase your savings in an easier way. However, it's important to note that some of these options may include commissions or other expenses that could reduce your savings.
“Disclaimer: Please note that this is a translation of the original in Spanish that has been obtained using eTranslation (the machine translation tool provided by the European Commission), with the intention of giving you a basic idea of the content in English until a human translation becomes available. The Banco de España accepts no liability whatsoever in connection with this translation.”
