Save effortlessly, is it possible?

Tools for effortless savings.

From a young age, we are taught the importance of saving money. This idea becomes much more meaningful as we get older. We all understand the importance of saving money to be prepared for unexpected expenses, to buy a house, or to complement our retirement pension. 

There are many good reasons to save. However, when you try to save, you often realize how difficult it is due to the avalanche of expenses you have to face: daily expenses, bills, trips, etc. This brings up the following question: Is it really that hard to save money?

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Use the six rules and achieve your goals quickly and easily

Is it possible to save with no effort?

There are no magic formulas for saving. However, if you are committed and stick to certain guidelines, it is possible to grow your piggy bank with not much effort

The first step is to create a savings plan. When the end of the month arrives, many people don't know what they have spent their money on. Therefore, the first crucial step is to create budgets that indicate all your fixed expenses and income. The next step is to subtract your expenses from your income. The result will give you an overall picture of your finances and how much you can save each month. 

Another good approach is to automate the process of saving. As saving is a long process, it is much easier if you don't have to think about it on a daily basis. To help you with this task, you can access the BBVA Set up your account service composed of different useful tools to meet your needs. For example, you can set aside a percentage of your paycheck (Paycheck Savings rule) or keep your money available in your checking account and manage your expenses based on your balance at the end of the month. 

Once you have organized your budget, it is time to review your spending (especially your fixed expenses). Often, we pay for services that we do not use, or we are paying too much for them. At BBVA, we recommend comparing the services of different providers to get the best value for money. This recommendation also applies to your internet or cell phone bills, in addition to gas, electricity, and other services. 

You can also save effortlessly on your daily expenses. For example: before doing the weekly shop, go online and look for the best value-for-money offers. This is a simple trick you can use with all your purchases. 

Finally, we recommend trying to avoid paying interest or, at least, to pay as little as possible. This will help you obtain a healthier balance at the end of the month. A simple way to do this is to set up direct debit payments in the same account where you receive your paycheck each month. This way, you'll have greater control over your available funds.

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BBVA Goals account
The account that helps you achieve your savings goals.

Useful tools for reaching your goals

In addition to the tricks mentioned above, BBVA offers a series of tools to help you save that bit extra with very little effort. The first is the BBVA Goals Account, designed to help you obtain your savings goals with no administration, maintenance, or online transfer fees. It lets you automatically transfer money from your checking account to the Goals Account. In other words, the money is sent to your savings account with no effort on your part. Of course, you can also access your money at any time if you need it. 

BBVA also offers its Set up your account service made up of simple rules to help you manage your account automatically. It lets you set a minimum or maximum balance limit in your accounts, round off your card payments (saving the difference in cents), and set savings guidelines based on your paycheck (at the start of the month) or budgets (at the end of the month). You can access these services at any time, completely free of charge (the only requirement is to be the holder of at least two BBVA accounts).

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