Tips on saving for young people and students
Once you're earning your own money, you have more opportunities and more responsibility. That's why you need to keep an eye on your income and spending at all times. We have a practical tool to help you do just that. If there's something you'd like but can't afford yet, our tips on saving will help you get it, one step at a time.
Savings tip #1
Use the budget calculator and the Personal Financial Assistant
The budget calculator for young people shows you what your costs are each month and where you can make savings. You can use it to work out how long it will take to save up for what you want.
In e-banking, there's a Personal Financial Assistant that can automatically allocate a lot of your income and spending to the right category, and illustrates this in a diagram. We recommend that you review your budget regularly.
Savings tip #2
Download the Mobile Banking app
The UBS Mobile Banking app helps you keep a grip on your budget. You can see the current credit balance on your account, and your spending and credit card debits, and you can manage your banking on your smartphone even when traveling. The app is available free of charge.
For smartphones such as the Windows Phone or Blackberry
Please enter www.ubs.com/webapp into your smartphone's browser.
Savings tip #3
Activate SMS or e-mail notifications
The notification function using SMS or e-mail means no more missed account movements. You decide for yourself what you want to be notified of (e.g. income or spending).
Savings tip #4
Apply for a prepaid credit card
Get a MasterCard Prepaid, and you'll have all the advantages of a credit card plus complete control over your budget. And there's no risk of you going into debt. Simply load cash onto your prepaid card with UBS e-banking, the UBS Mobile Banking app, or a paying-in slip. You can use your UBS MasterCard Prepaid to pay without cash anywhere in the world, as well as to collect valuable KeyClub points that you can redeem at H&M, Intersport, Starbucks, IKEA, Zalando and many other partners.
If you're 18 or older and meet the criteria for issue, you can also apply for UBS credit cards
Savings tip #5
Set up a standing order
Long-term saving pays off – even if you don't yet have anything definite that you want to save for. With a standing order, you can build up reserves for a vacation, a major purchase, or any unexpected outgoings. Just set up the order and we'll deal with the rest.
If you're a UBS client, it's easy to set up a free UBS savings account for a standing order. A savings account offers a higher rate of interest than your personal account.
Alternatively, you can make use of the opportunities that the financial markets offer you and invest your money in a UBS investment fund account. This lets you can benefit from higher potential returns over the long term.
It's also worth thinking about later life. The UBS Fisca account is a way to save for your retirement through Pillar 3a, and you can also use your retirement assets to finance buying a home. You can decide for yourself how much to pay into the account and when. Your Pillar 3a payments also help you save tax.
Savings tip #6
Get yourself some advice
We'll be happy to help you open an account or apply for banking products. Our client advisors will also help you plan your budget and advise you on anything to do with money.
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