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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 provide for you and your loved ones in case of an emergency.

Saving money can help you to:

  1. Deal with unexpected costs and emergencies

  2. Reach your short, medium and long term financial goals, like saving for a car, a house deposit 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:

  1. Planning your meals and cooking in batches to save money on food shopping

  2. Using price comparison websites to see if you can reduce your bills

  3. Turning down the heat or turning up the air conditioning a couple of degrees

HSBC has partnered with Everfi to create a series of modules on a variety of topics, including Savings, Banking, Credit Cards & Interest Rates, Credit Scores, Financing Higher Education, Renting vs. Owning, Taxes and Insurance, Consumer Protection, and Investing, giving you the tools to better manage your financial future. We hope these interactive digital modules can support your choices.

 

Additionally, HSBC has created the YourMoneyCounts financial wellness program which is presented by HSBC staff to the community in a classroom setting. Participant workbooks covering Budgeting, Credit, and Identity Theft and a budgeting worksheet are found through the YourMoneyCount link above. This program was created in partnership with the national nonprofit Greenpath Financial Wellness,  and they provide free individualized support focused on your personal situation and financial wellness.