Financial Planning - The Essential Step to Transforming Your Finances
Income from savings is practical and essential.
However, many people still have doubts about how savings income works and how best to take advantage of it.
First of all, it's important to understand that the return on savings is not fixed.
It consists of two parts: a reference rate (TR), set by the Central Bank, and an additional 0.5% per month when the Selic rate, the economy's basic interest rate, is above 8.5% per year.
It is calculated based on the anniversary date of the savings account. This date corresponds to the day of the month in which the money was deposited.
If the money is withdrawn before that date, the month's income will be lost. It is therefore important to think carefully before making a withdrawal.
Due to the current economic climate, with the Selic rate falling, the return on savings is following suit.
For situations where the Selic is below 8.5% - the current scenario - the yield is limited to a percentage of 70% of the Selic plus the TR variation.
Understanding how it works is essential for anyone looking to optimize their investments and achieve their financial goals.
For example, by understanding the anniversary date of savings accounts, investors can plan their withdrawals in a way that maximizes their returns.
Understanding the return on savings is the first step towards intelligent and profitable financial management.
It depends on a variety of factors, including the amount of deposits, the frequency of deposits and interest rates.
However, there are some strategies you can use to increase your money.
One of the most direct ways to increase the yield on your savings account is to deposit more money. The more money you have in your account, the more interest you will earn.
So try to save as much as possible and put it in your savings account.
Banks calculate interest based on the daily balance in your savings account. Therefore, if you want to maximize your income, you should try not to withdraw money from your account.
The longer the money stays in the account, the more interest you earn.
So if you want to maximize your income, you should do your research and choose a bank that offers the best interest rate.
In addition, some banks offer higher interest rates for larger deposits, while others offer uniform interest rates regardless of the account balance.
Choose the bank that best meets your savings needs.
The interest you earn on your savings account is added to your balance. Therefore, if you reinvest this income, you can earn interest on it.
This is known as compound interest and can significantly increase the value of your savings over time.
A savings is one of the safest and most common forms of investment on the market.
However income that it offers can vary significantly, being influenced by a series of factors.
Knowing these variables can help you plan your finances more efficiently. Below, we highlight some of the main aspects that can affect your savings yield.
The first and main influence on the return on savings is the Selic rate.
The Selic is the basic interest rate of the Brazilian economy and influences all other interest rates on the market, including the yield on savings.
In general, when the Selic rate rises, the savings yield also rises, and when the Selic rate falls, the yield falls.
The date of birthday of the savings account, i.e. the day of the month on which the account was opened, is also a relevant factor.
This is because it is calculated and credited to the investor's account once a month, precisely on the account's anniversary.
Therefore, if there are any withdrawals before that date, the income for the period will be lost.
Inflation is another factor that can affect the real return on savings. This is because inflation reduces the purchasing power of your money.
Therefore, if the inflation rate is higher than the return on savings, your money will be losing value, even if it is earning money.
Finally, the realization of regular deposits can increase the return on savings.
This is because by making regular deposits, the money starts to earn interest more quickly, which can boost the total return on your savings over time.
Read more about the Selic rate on Central Bank websiteand inflation in the IBGE portal.
In addition, some banks and financial apps provide tools to calculate the return on savings and help you maximize it. The tools available include Nubank, Inter Bank e Serasa.
