Saving

1. Choose an amount suitable for you that you can increase over time

Usually the best and most important tip is to set up an automatic transfer to your savings account on your payday: when you do not see the money, you will not miss it, either.

Example:

• If you save 10 euros a month, it adds up to 120 euros a year.
• If you save 100 euros a month, you will end up with 1,200 euros a year – a substantial amount.
• The effect of compounding means that your savings may grow faster than expected. Check our tips for saving to see in more detail how your savings and investments can grow over time. Read our tips for saving

2. Choose a saving product and make a plan

• Putting money aside in a savings account is a good start, but have you considered investing in products that offer higher returns than a regular savings account? 
• With Nordea’s funds, you can start saving regularly with as little as 10 euros a month. The value of funds can go down as well as up due to market movements. You can cash in your fund investment at the redemption value within a couple of days when you need to access your money.
• We’ve made it easy for you to make a savings agreement in Nordea Mobile or Netbank. Nordea’s digital investment adviser Nora helps you find the best way to save by determining your investment profile and recommending a suitable investment fund for you. If you’re not our customer yet, Nora can help you with that too. More about Nora

3. Stick to your plan – regular saving mitigates the effect of market volatility

• Since market movements are impossible to forecast, it’s difficult to time your investments at the best possible moment. 
• When you invest in increments over time instead of everything in one go, you can avoid the risk related to timing. 
• By investing regularly, you can mitigate the effect of market volatility over the long term, so you won’t need to worry about market movements.