Savings is one of the most important part of any financial plan. A solid savings plan can also help secure financial independence and stability later in life.

#1 Let’s start

Start your plan from checking daily habit. Review once a week and review your bank accounts, bills, expenses and income to evaluate whether you are staying on track with your savings goals or if you need to make adjustments for unexpected financial obligations.

#2 Open savings account

A savings account is a basic part of any financial plan. Be sure to connect with your bank to help you figure out which kind of savings account is best for you.

Checking accounts not only help you manage your income and spending but also help you establish the habit of paying yourself first each month.

You can also apply “20/80” finance rule:

- 20% of your income will be saved or invested

- The remaining 80% will be used for daily expenses.

             *Find your suitable deposit products HERE

#3 Emergency fund

In addition to having a basic savings account, it’s also important to have an emergency fund for unexpected cases. You can choose the online deposit to automatically transfer your funds during each payment period to ensure the savings are not affected by other unnecessary expenses

*Click HERE for IVB Online Deposit information

#4 Saving Goals

A savings plan is an indefinite personal project. Set specific goals (buy home, travel, …) to determine the specific amount of savings and how long it will take to reach your saving goals.