This isn t the first time we ve advised you to build up your savings so that you don t end up in the red when the unexpected happens, even if you have a small income. Between savings books, insurance and investments, you can quickly get lost in the savings jungle. Here are a few tips to help you get started.

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Understanding savings

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The definition of savings according to Le Robert dictionary is: To spend less than one earns. A tip that can be effective for succeeding in this first step is to define your budget for the month and stick to it! Always plan a budget for your savings that you ll save directly so you don t have it available in your current account.

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Decide on your savings

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Your project: The first question to ask yourself is why do you want to save? Is it for a short-term (less than a year), medium-term (less than 5 years) or long-term (more than 5 years) project?

Saving capacity: You also need to consider how much you re prepared to put aside. To do this, subtract your income from your expenses to find out your savings capacity.

Risk: To earn more with savings, you need to take more risks. It s important to realize that the more risks you take, the greater your chances of losing money. There are 5 investment profiles from least risky to most risky.

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You can make an appointment with an advisor at your bank to define your profile and make the best choices for your investments.

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What solutions are available?

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• Short- and medium-term precautionary savings

The Livret A savings account allows you to save at your own pace and without any risk. It is accessible to everyone. --> Learn more about the Livret A

The Livret Jeune is a tax-free savings account for young people aged between 12 and 25. --> Learn more about the Livret Jeune

The LDDS allows you to participate in the social economy without great risk. --> Learn more about the LDDS

The LEP (Livret d Epargne Populaire) is reserved for people with little or no tax.

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• Financing a future property purchase

The PEL (Plan d Epargne Logement) allows you to save at a guaranteed fixed rate for 4 to 10 years to finance a property purchase or renovation.

The CEL (Compte d Epargne Logement) is an excellent complement to the PEL, with savings available at any time.

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• Grow your savings

With a term account, you can guarantee a return until the investment matures at a set rate.

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• Invest for the long term and increase your savings

You choose to accept a certain amount of risk on your capital by taking this objective.

L assurance vie pour tous is a contract that allows you to save in a variety of vehicles while benefiting from tax advantages.

The Plan d Epargne en Actions is a way of investing in the stock market while benefiting from an advantageous tax framework from 5 years of ownership.

SCPI units allow you to invest in professionally managed real estate.

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• Preparing for retirement

The PERI (Plan Epargne Retraite Individuel) allows you to prepare for retirement and build up customized savings with tax incentives.

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