Open a savings account?

There are various approaches why you want to save. First of all, you need to be aware of whether you want to make the money so that you can always have it or whether it can be spent longer.

Then the question of security arises, i.e. the money can become less during and on the basis of the facility or even be completely lost.

And finally the question of return, the (Zins) yield is in the foreground and how high is the return.

These three criteria are in a field of tension, because with no form of investment you will be able to achieve 100%.

Daily allowance:

• Liquidity: 100%, daily due
• Security: 80%, bank account, but Phishing & U possible
• Yield: lean, because not highly galvanized

Example savings account:

• Liquidity: depending on contract or model with termination
• Security: close to 100%, the loss of inflation sometimes not taken into account
• Return: depending on bank and contract

You can evaluate and decide all the forms of savings.

A daily money account is taken solely in order to build up a basic amount of liquidity to which you get at any time in case of emergencies, but accepts that there is hardly any interest in it.

A (spar or fixed) product with a short term offers more interest but less flexibility. In some products, however, a continuous deposit is not possible.

Long-term investments, e.g. savings contracts or growth certificates at the bank, run a few years with increasing interest rates, but you don’t get there or only get there with effort.

Securities and Shares would be another option, but always include price risk, so the money can suddenly be much less but also much more worth. You shouldn’t be dependent on the money you invest.

Back to the question: I think yes, in your case a daily allowance is not wrong. However, if there is a certain amount to think about further investment opportunities to improve the return. Then, for example, you could set a part of it at higher interest rates.

I hope the presentation reduced to the core at the top will help you sort out something. In practice, it is, of course, a bit more complex due to the many plant products, but in the core it is always that.

Gruss