Types of Savings You Should Have Right Now to Be Financially Secure

Now that it’s New Year already, we know most of you wants to start saving as your New Year’s resolution. Is it really not that surprising right? Since most of us wanted to be financially stable to be able to do and provide what we want without feeling deprived, nor drained out from our expenses. We wanted to be able to shop to our heart’s content, eat like there’s no tomorrow, and travel the world like we’re the boss without worrying about running out of penny the next day.

How do we ensure ourselves that we’re placing our money to the right place? Here are the types of savings you should get in order to be financially secured.

1. Savings

We all know about savings. It’s incredibly simple to do. You can do it either manually or electronically. If manually, you can do it by buying a piggy bank and drop some coins and money there whenever you have one. While this is really the simplest way to save, it’s incredibly risky too. Why do you ask? it’s because it’s so easy to break that piggy bank and get the money right away. If you’re not so good in having self-control. When you do, then we recommend this second option for you.

coin bank

If you are having a trouble saving using the piggy bank, you can opt to save using a bank account. Having a bank account is actually an effective way to save because your money is being deposited in an account. Sometimes, you also have a maintaining balance you need to retain too, so it will force you to practice discipline and self-control.

Having a savings bank account is essential because, in the case of emergency, where you are in need of immediate money, you can withdraw from your savings. This will help you to cope up with situations without getting in debt.

2. Insurances

Having a savings bank account is essential for you especially in terms of emergency cases, but keep in mind that it is only for short term. Your bank account will burn out if you ran out of money? What will happen after 30 years and you’re weak enough to work further? Being financially stable doesn’t only covers the now in your life. You should also think about your long-term stability too. And you can do that by getting an insurance policy.

While you’re working hard enough to earn money, you can place a portion of it to an insurance policy. This passive money of yours will work in turn to let your money grow. So that by the time of its maturity, you already have enough money to sustain you the moment you retired. If in any case, something unfortunate will happen to you, you are still prepared since your immediate family will be covered by the policy.

3. Investments

If you already have a bank savings plus insurance, then that is good for you. You’re already secure enough to be able to live on your own, without asking help from others. But if you still wish to let your money grow and live a luxurious and comfortable life, then you need to acquire this last type of savings: investments.


If you ever dream of having a business someday, a real estate property, or travel around the world, then you need to start investing. Investing can help you multiply your money as many times as you want (depending on your risk fund) so that you can earn the capital you need in building your dream. You will be investing your money in the international stocks market and your earnings will be based on the inflation rate in the market. It’s quite risky, that’s why you need to choose what type of fund you’re willing to invest.

Investing your money on all three (even one, such as savings) can be very difficult. But trust us when we say that in the end, it will be worth it. This is the proper way in organizing your money to become financially fit and stable. If you are interested in getting an insurance policy or investment fund, you can talk to your financial advisers to help you.

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