How would you like to save?

The most important part about saving is getting started. It’s often also the biggest obstacle on a saver’s path, but you shouldn’t make it unnecessarily big. When you make a monthly savings agreement with us, we will transfer the agreed amount regularly either into your savings account or into your selected fund, and you can adjust the amount anytime. Easy, right?

  1. Do you have a large enough buffer? If you are prone to spend all your money or if you have a short-term goal in mind, such as a holiday trip or a new sofa, you should start saving in a savings account. A good buffer consists of savings that match your salary from about three months and any bigger purchases that you are planning for. A PerkAccount is a good option for building a buffer, but once your savings start to grow, you should move some of them into a FlexiDeposit Account, which pays higher interest. If you have consumer loans that carry high interest rates, you should pay them off as quickly as possible to save on interest expenses.
  2. Do you want to build your wealth over time? When you are satisfied with your buffer, it’s time to think about building your wealth by investing in funds. Over a long period of time, funds will often earn you more than keeping the money in a savings account. You can get started with as little as 10 euros a month, but you can also invest larger lump sums anytime.
  3. Do you feel you could use expert help? If you’re not sure how to get started with saving or what would be the best way for you to save, book a meeting with one of our experts. The meeting won’t cost or commit you to anything.
Saving in the short term

Use a savings account to build a buffer

A buffer means that you’re keeping a little bit of extra in your account to prepare for surprises in your daily life. Building a buffer may not always be easy, but regular saving is one way to do it. You should think about saving as one expense among others: if you set up an automatic transfer from your current account to your savings account, the buffer will build up even with small sums without you barely noticing it.

A PerkAccount is a good option when you want to build a buffer. You can set up a recurring transfer from your current account to your PerkAccount, meaning that we will automatically transfer the amount you have set into your buffer.

Saving in the long term

Funds for the future

When you are satisfied with your buffer, it’s time to look into investment funds. Over the long term, they will generate a better return than a savings account. The value of a fund may fluctuate in line with the market movements, but if you transfer even a small amount into a fund regularly, you may benefit from both rising and declining markets.

When you make an agreement on monthly saving with us, we will automatically transfer the agreed amount into the fund of your choice once a month. Our digital investment adviser Nora will help you find the funds that match your goals.

Investment advice

Our experts are here to help

Getting started with saving may sometimes be baffling: how do you know which options suit you the best? Don’t worry, our experts are here to guide you – no matter how big or small your savings goal is.

When you meet with us, our expert will map out your particular circumstances and help you get started with saving in the best way possible. A meeting won’t cost you anything and there are no obligations.

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5 tips for budding savers

  1. The main thing is to get started! Don’t worry about the amount – it’s more important to just start saving regularly. You only need as little as 10 euros a month, which you can put into a savings account or an investment fund, whichever you prefer. If your life takes an unexpected direction, you can easily adjust the monthly savings amount in Nordea Mobile or Netbank.
  2. List your income and expenses. Track your spending and think about ways to save. This will allow you to estimate how much you could put aside each month. By the way, did you know that you can easily track your income and expenses under the Insights tab in Nordea Mobile? Go ahead and test the budgeting tool available there!
  3. If you have consumer loans that carry high interest rates, you should pay them off as quickly as possible to prevent interest expenses from taking up all your money. Once the loans are paid off, you can always increase the amount you save per month.
  4. Remember to think long-term: even if saving feels a bit difficult sometimes, you will reap the best benefits after a longer period. If you make an agreement to save monthly into a fund and continue to save for several years, you can also benefit from the effect of compounding, which means that you will earn a return on the returns your savings have accumulated over time.
  5. Our advice is that you should keep saving every month, even if the market fluctuates. By investing your savings into a fund, you may even benefit from weaker periods in the long term, but remember to keep a buffer in your savings account to prepare for surprises in your daily life.

Frequently asked questions about monthly saving

Important information about investing

The information provided on this website is intended for general product information only and does not constitute investment advice or recommendations. When it comes to funds or equities, past performance is not a guarantee of future results. The value of fund units or equities may increase or decrease due to market movements, and it is not certain that you will get back the entire amount you invested.