The importance of saving some money for your medium-to-long term goals or for emergencies is something that cannot be overemphasised. World Savings Day reinforces the importance of every cent and encourages individuals to adopt the habit of saving for a serene future.

Saving is a habit that can be adopted in a simple and creative way, at any age and at any time.

Nancy Mafundza Come, Head of Retail at FNB Mozambique, says: "I believe that most people see and understand the benefits of saving, but tend to put off this habit to a later stage, till they have higher incomes or fewer fixed expenses."

"It is important to reframe our thinking to face the future in a planned way, analyse the different needs or goals in the short, medium or long term and start adopting the discipline of saving to buy a car, a house, for children's education, for retirement, or even for marriage."

Nancy talks about how to adopt and instill the discipline of saving in the short term:

Tasks

An interactive or creative way to include children and the family in the understanding of the savings culture is to reward chores done by the little ones, tidying the room, washing the dishes or washing the car earns some extra change that can contribute to achievements like buying a ball, bicycle, roller skates or other items.

Reduce expenses through daily activities

It is important to look at your recurring expenses, instead of buying lunch every day at work or school, encourage your family to make their own lunch or take leftovers from last night's dinner.

Save your change

Save your change and after a few months, see how far you get. FNB Trocos® is a savings account linked to a current account that allows FNB customers to set aside part of their change whenever they buy goods or services using their FNB card. This feature rounds up each card purchase to the nearest amount chosen at activation and saves the difference in the associated FNB Change Account.

"We strongly encourage people to save regularly and avoid taking on unnecessary debt. Sometimes small changes represent annual savings of hundreds or even thousands of Meticais, take a moment to reflect on your habits, and how you can improve your present and therefore future financial situation," concludes Nancy.