From savings account to ‘loss account’: this is how your savings...

From savings account to ‘loss account’: this is how your savings...
From savings account to ‘loss account’: this is how your savings...

Several banks introduced 0% or even negative interest on their savings accounts in recent weeks. In other words, your hard-earned euros will melt like snow in the sun when you park your money in such a ‘loss book’. Imagine: in 2002 you put 100 euros in a savings account. Then there is still 85 euros left today due to inflation and account costs. Fortunately, there are still ways to get more out of your savings.

We Belgians are fans of our savings account: an easy savings solution, without risk. And we think that en masse, because in mid-2020 there was about 290 billion euros in our regulated savings accounts. And all this while such a savings account does not always yield anything, on the contrary. But what interesting tips are there for those who prefer to see their money grow?

Have you ever added up the annual costs on your current, savings and investment accounts? They may be higher than the return you receive annually. Not to mention the entry and exit costs and custody fees for investments. At MeDirect, customers have a free current, savings and investment account. There is no custody fee and MeDirect does not charge entry and exit fees for investment funds.

Saving for later is always smart. For the purchase of your home, for example. Or for your pension, because then your income will drop significantly. Did you know that the pension amount is often less than 50 percent of the last wage? Therefore, compare very carefully all the options for housing your nest egg, for example on Spaargids.be. Because yes: there are still savings accounts that do yield. MeDirect, for example, currently uses interest rates that are up to 6 (!) Times higher than at the competing banks.

Do you have a savings reserve of at least 3 to 6 months of your net salary? Then you better choose to invest the rest of your savings. You then take a little more risk, but your profit is also potentially higher. With periodic investing, you automatically transfer an amount to an investment fund every month. At MeDirect, for example, this is possible from 100 euros per month. The advantage of periodic investing is that it may give you a higher return than the traditional savings account. There is a risk that you could lose part of your investment. In addition to periodic investing, MeDirect also offers various other ready-made investment plans.

Do you want your savings to still yield? Then surf to medirect.be. Open a free savings or investment account online and go for a yield that is up to 6 times higher.

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