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Why Saving Is Important

Saving money is one of the most important financial habits you can adopt. It can help you to become financially secure and act as a financial safety net for you and your loved ones in case of an emergency.

Saving money will help you:

  • Manage unexpected costs and emergencies

  • Reach your short, medium and long term financial goals, like saving for a car, a down payment for a house or your retirement

Saving money is good for your health too. Studies throughout the world suggest that people who save for their future feel more positive, sleep better and experience better mental wellbeing than those with no savings.

For some, the thought of saving money can feel like a challenge, but there are small things almost anyone can do to save a little money each month, such as:

  • Planning your meals ahead of time and cooking in batches to save money on grocery shopping

  • Using price comparison websites, apps and price matching to try and reduce your bills

  • Turning down the heating or turning up the air conditioning a couple of degrees

  • Making lunches and coffee/tea at home a few times a week

  • Buying from wholesale companies and save with bulk purchases

HSBC offers a variety of savings accounts that can help you meet your saving goals. Whether its saving weekly or monthly, you can easily set up regular auto-deposit contributions to build your savings and stay on track. Learn more.

Savings strategies

Find out about our 5 useful ways to help you create and maintain a savings habit that works for you.

Find out how you can stay focused in the short and long term to help you achieve a specific savings goal.

Learn how to create a successful budget, by assessing your spending habits against your earnings so you know how much money you can save each month.