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.
China has one of the highest national savings rates in the world, according to the International Monetary Fund. At 23% of GDP, China’s household savings are 15 percentage points higher than the global average.
Saving money can help you to:
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Deal with unexpected costs and emergencies
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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:
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Planning your meals and cooking in batches to save money on food shopping
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Using price comparison websites to see if you can reduce your bills
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Turning down the heating or turning up the air conditioning a couple of degrees
HSBC China offers you a wide range of products and services for savings accounts and time deposits, empowering you to accumulate and manage your wealth with ease for all your future plans.
Financial wellbeing
