Automate your savings & open an e-saver account
Organizing your finances will reap major benefits in wealth creation. By opening an HSBC e-saver account, for example, you can cover all of your fixed quarterly costs with a slightly better interest rate.
This automatic saving may even equal some extra money for a holiday, or rainy day fund. Simply put, by getting organized with your finances, you’ll be in charge and not running all over town with your debts chasing you!
A new HSBC branch has opened up on Al Wasl Road opposite Safa Park and is open on Saturdays – so there are no excuses, even for the busy corporate gal, to get into e-saving.
To work out your monthly e-saver contribution, simply list your quarterly expenses, such as holidays, rent and clothes, sum this annual amount up and then divide this total by 12. This leaves you with your monthly e-saver contribution.
Most banks will have a savings as well as a deposit account – this is essentially a way of budgeting your money to improve your cash flow, while also benefitting your overall wealth creation.
Think of it as cultivating good habits around money rather than charging these items to credit.
I hope you enjoyed todays post!
Janelle xoxo
