Are you looking for a solution to maximize your savings? Some tips can help you achieve your goal quickly.
establish an effective savings strategy
There savings strategy is an important step in any investment project. These are:
- Take stock of your assets situation;
- Determine your investor profile.
First of all, take an inventory of the assets you already own.
If, of course, your financial investments appear there, you must not forget the other types of property, and in particular real estate, including your main residence if you own it. It is also essential to draw up an exhaustive list of your debts, and, finally, to take stock of your monthly savings capacity.
Once this assessment has been completed, you can define your define your investor profile. You can ask yourself the following questions: am I willing to take risks with my money or not? Will I need my money soon, or can I invest part of it for the medium or long term? What are my objectives (have precautionary savings, prepare for my retirement, maximize the profitability of my investments, etc.)?
Take advantage of the multiple advantages of the Livret A for your savings
More than 56 million: this was the number of Livret A accounts in France in 2022 according to data from the Banque de France. And if this investment is so successful, it is no coincidence. In fact, individuals who open a Livret A benefit from its many advantages: opening and operating are free, opening and operating are free, and, above all, the money deposited there is 100% secure and completely available.
Furthermore, until January 2025, the interest rate on Livret A is 3%, net of tax and social security contributions. Remuneration which applies up to the ceiling of this flagship investment, 22,950 euros, and which allows you to boost the return on your savings. Open a booklet A (more information on this savings product) is particularly necessary to maintain its precautionary savingswhich is generally the equivalent of around 3 months’ salary.
Consider diversifying your investment portfolio by opening other savings accounts
According to the established expression, it is better not to put all your eggs in the same basket. In terms of savings, this translates into the fact of diversify your investments. Indeed, beyond Livret A, you can direct part of your savings towards other contracts.
As for booklets which have the advantage of being both risk-free and completely liquid, you can turn to:
- A Sustainable and solidarity development booklet (LDDS), the operation of which is modeled on that of the Livret A, with a ceiling of 12,000 euros;
- A Popular savings account (LEP), which can allow you to benefit from a rate of 6% up to 10,000 euros, subject to resource conditions;
- A Youth Bookletif you are between 12 and 25 years old;
- A passbook which allows you to benefit from a generally high payment ceiling. The remuneration of bank books is taxed (unlike Livret A, LDDS, LEP, Livret Jeune). They are subject to the 30% flat tax which includes 17.2% social security contributions and 12.8% income tax.
Other investments can also be considered, provided they are part of an investment perspective. medium or long term. We will find, for example, housing savings, and its famous PEL, life insurance, or even term accounts.
avoid falling into certain pitfalls
When it comes to saving, there are certain pitfalls to avoid. This involves, in particular, when one cannot choose an investment, avoiding leaving one’s money sleep on your current account. In fact, it does not offer any remuneration. It is then preferable to opt for a regulations booklet, such as Livret A, which combines free, security and availability.
When choosing a more complex productthe image of life insurance or PEL, it is also important to find out about its information about its precise operation. For example, opening a PEL implies the obligation to pay at least 540 euros per year in one or more occasions.
Do you want to prepare for your retirement now? It is never too early, nor too late, to devote yourself to such a project. Certain savings products are also entirely dedicated to this, such as the Retirement Savings Plan, or PER. Life insurance, with its guaranteed euro funds and its units of account presenting a risk of capital loss, can also serve as an investment support a saver who wants to anticipate retirement.