What's the best place to store money? Find out!
If you save or intend to start saving, it is important to know that there are different ways to invest and save money. You are probably already familiar with savings, which is the most widely used method by Brazilians. But is it worth it?
There are some factors that should be taken into consideration when organizing your finances, such as what the purpose of the money is. The most appropriate place to save it will vary depending on the time frame in which the person wants to use the money.
We know it may seem confusing, but we will explain the topic in detail to help you.
First, why have a “place” to keep money?
If you've ever tried to save money, you've probably realized that it's not that simple. And if the money you save isn't separated from the money you can spend, it becomes even more difficult. That's why having a specific place to save it is essential to avoid the temptation of spending impulsively.
This way, you can organize yourself better. A great tip is to view this reserve amount as a bill. In other words, as soon as the money comes in each month, you will “pay yourself”. After all, if you wait for the money to be left over to save, it will be almost impossible.
We know that saving money when you earn little is even more difficult, but there are some simple steps that can be implemented in everyday life to save. Furthermore, you don't need to start saving a lot, what's most important is the habit of starting to save.
How to choose the best place to store money?
To understand the best place to leave your money, it is important to understand whether it is for a short, medium or long-term objective. This is important because the longer you can leave your money untouched, the greater the chances of it earning interest.
If you want to save to create an emergency fund, for example, you won't know exactly when you'll need the money. After all, unexpected events happen all the time. In this case, you need to choose an investment with daily liquidity, that is, one that you can withdraw any day.
There are several investments that do not have daily liquidity. Although they tend to yield more over time, they are only suitable for long-term goals, such as retirement or purchasing a property in the future, for example. This is because if you withdraw the money from the investment before the stipulated time, the chances of losing it are high.
What are the most advantageous options than savings?
Considering that you are new to saving money, we will recommend safe, low-risk options with daily liquidity, right? You may be asking yourself: “Why not keep my money in savings?”
Although it is preferred by Brazilians, savings accounts are not the best option because they do not yield as much as other investments, which are just as safe. Generally speaking, any investment that yields more than 90% of the CDI is already more interesting than savings accounts. See the options:
Direct Treasury
It is a program of the Brazilian National Treasury that allows users to buy government bonds. In other words, it is as if you were lending money to the government and you will receive interest on this loan when you sell your bond.
Because they are fixed income, it is already possible to know how much money you will receive at the end of the investment. In other words, you buy a government bond and already know that you will receive a return on both the money from the bond and the interest paid by the government.
The minimum amount for investment in Tesouro Direto, in any security, is R$30, while the maximum is R$1 million per month. This is an excellent place to save emergency fund money because it yields more than savings, is safe and can be withdrawn at any time.
CDBs
The person who invests in CDBs (Bank Deposit Certificates) is also buying bonds, but from banks and not from the government. It works like a loan: you buy the bonds from the bank and then receive the amount paid plus interest.
CDBs have maturity dates, which can be checked at the time of purchase. Although they have daily liquidity (can be withdrawn at any time), it is important to maintain the investment until the agreed date to ensure the expected return. Maturity dates vary from 3 months to 5 years for redemption. Therefore, it is an interesting investment for short-term goals.
As you can see, it is possible to save money in more strategic places than savings accounts. The first step is to understand the purpose of the amount saved in order to choose the best investment to make.
