Glamor Economics

Chapter 180

Chapter 22, Section 9, Skillfully Using the 12 Certificate of Deposit Method - Savings

Many working-class people feel that their salary is too little, and they don't know where to start financial management. So what is the first step for working-class people to manage their money?The first step is to save money.

For ordinary wage earners, it is more appropriate to deposit 30% of their monthly wages in the bank.In addition, we also need to use corresponding deposit techniques according to our own situation to make the first pot of gold snowball bigger.

Most people are used to accumulating a relatively large amount of monthly savings and then depositing it regularly. In fact, the interest rate is very low in the current account, and an invisible income is lost during the accumulation process.We might as well use the "12 certificate of deposit method" to let every spare money earn interest.

If your monthly fixed income is 2500 yuan, you may consider taking out 1000 yuan for savings every month, and choose a one-year term to open a deposit certificate, so that after one year, there will be 12 one-year time deposits.When the first certificate of deposit expires, take out the due principal and interest, add it to the 1000 yuan in the salary of the month, and then deposit it into a one-year time deposit certificate. By analogy, you will always have 12 certificates of deposit in your hand.In case of urgent need, you can withdraw the mature or recent certificate of deposit to reduce interest loss and give full play to the flexibility of savings.

If the "12 certificate of deposit method" is suitable for saving monthly salary savings, the other "ladder deposit method" is suitable for year-end bonuses.Taking the 3 yuan bonus as an example, you can use 1 yuan to open a 1- to 3-year time deposit certificate; after 1 year, you can use the 1 yuan that is due to open another 3-year certificate of deposit. By analogy, after 3 years, all the certificates of deposit you hold will have a period of 3 years, but the maturity period is different, with a difference of 1 year in turn.This way of saving can keep the annual savings amount at maturity in an equal balance, which can not only cope with the adjustment of the savings interest rate, but also obtain higher interest on the 3-year deposit.

If you still have a part of the funds that you are not sure about the usage and time, you can use the notice deposit to increase the income.Now some banks have introduced interest rates for notice deposits, which are automatically re-deposited every 7 days, and the interest is transferred to the principal, and the compound interest is calculated according to the agreed cycle, so the actual rate of return will be higher after a period of time.

If you are not sure about your future capital needs, especially the working class who do not have sufficient funds, you may wish to try the bank's "deposit by appointment" service.Depositors can set up a transfer starting point and transfer account at the bank.

If you set 1000 yuan as the trigger amount of your Cailitong card, then when the balance is greater than 1000 yuan, the excess will be automatically converted into your preset time deposit, but if the amount you spend or withdraw is greater than 1000 yuan , such as 1500 yuan, then 500 yuan will be withdrawn from the regular account, and the interest will be calculated according to the current account, but the other parts will still be calculated according to the regular interest.

Whether it is an agreed automatic transfer or fixed-active mutual transfer, it is more convenient to operate, but there is one more small step when depositing.

If you need money urgently before the term deposit matures, and you want to lose interest as little as possible, you can use the bank's "partial early withdrawal" function.Depositors can withdraw only part of their deposits according to their own needs, and the interest on the remaining deposits can still be calculated according to the original deposit date, original interest rate, and original maturity date.In China, the basic forms of savings deposits are as follows:
1. Current savings
Current savings refers to a savings method with no agreed deposit period, customers can deposit and withdraw at any time, and the deposit and withdrawal amount is not limited.Current deposit is the most basic and commonly used deposit method in banks. Free and flexible mobilization of funds is the basis for customers to carry out various financial management activities.

The starting deposit point for current savings is 1 yuan, and the minimum deposit amount for foreign currency current savings is no less than 20 yuan or the equivalent foreign currency of 100 yuan (varies with each bank), and there is no limit to more deposits.When opening an account, the bank will issue a passbook for deposit and withdrawal, and the interest will be settled once a year.Current savings is suitable for personal living expenses and idle cash, as well as the storage of working capital for business operations.

2. Fixed savings deposit with zero deposit and lump sum withdrawal
The monthly deposit amount of zero-deposit and lump-sum withdrawal fixed savings deposit is fixed. Generally, the minimum deposit is 5 yuan. The deposit period is divided into 1 year, 3 years, and 5 years. The deposit amount is agreed by the depositor when opening the account. The agreed deposit amount is deposited once a month. If there is any missing deposit in the middle, it should be made up in the next month. If the deposit is not made up, it will be treated as a breach of contract. When the account is canceled at the due date, the amount deposited before the default will be calculated and paid according to the interest rate at the time of account opening, and the amount deposited after the default Interest is calculated and paid according to the current interest rate.

3. Lump sum deposit and withdrawal of regular savings deposits
Lump sum lump sum time savings deposits generally start at 50 yuan, and the deposit period is divided into 3 months, half a year, 1 year, 2 years, 3 years, and 5 years. The principal is deposited at one time, and the savings institution issues a deposit certificate. Withdraw principal and interest from certificate of deposit.

4. Deposit principal and interest collection fixed savings deposit
Deposit and interest collection time savings deposits generally start at 5000 yuan, and the principal is deposited at one time. The deposit period is divided into 1 year, 3 years, and 5 years. The savings institution will issue a deposit certificate, and the principal will be withdrawn once due. Withdrawal, when opening an account, it can be agreed to collect interest once a month or several months, which is determined by the depositor and the savings institution through negotiation.If the interest is not collected by the interest collection date, the interest can be collected at any time in the future.If the depositor needs to withdraw the principal in advance, the interest during the deposit period shall be calculated according to the provisions for early withdrawal of time deposits (that is, the interest rate of current deposits), and the overpaid interest shall be deducted.

5. Fixed-life savings deposits
Savings deposits for regular life and convenience are issued by savings institutions with certificates of deposit, usually starting at 50 yuan.There are two types of deposit certificates: registered and bearer. The registered certificate of deposit can be reported as lost, but the bearer certificate of deposit cannot be reported as lost.

[links to related words]

Personal Savings Rate The ratio of personal savings to personal disposable income expressed as a percentage.

Interest tax is the abbreviation of personal income tax on interest income from savings deposits.Personal income tax on interest income from savings deposits is not a separate tax category, but a part of the current personal income tax.

For early withdrawal, the interest shall be calculated and paid according to the current savings deposit interest rate announced on the withdrawal day.For partial early withdrawal, the interest on the part withdrawn in advance shall be calculated and paid according to the current savings deposit interest rate announced on the date of withdrawal, and the interest on the remaining part shall be calculated and paid according to the interest rate on the fixed deposit and withdrawal time deposit announced on the date of opening the account. Only once.

Overdue withdrawals will be automatically rolled over according to the original deposit period of the deposit certificate from the due date.After the automatic rollover, if the certificate of deposit is deposited for another full period (according to the original deposit period of the certificate of deposit), the interest will be calculated and paid according to the interest rate of lump-sum time savings deposit announced on the maturity date of the original certificate of deposit when it expires; If the deposit is withdrawn within one deposit period, the interest will be calculated and paid according to the current savings deposit interest rate announced on the withdrawal date.

(End of this chapter)