When you are a student, there is often a fear of starting a credit life. The most important thing is that you know that there are options available for you to have savings for the future and for your expenses.
When you are a student or have just graduated and are learning how to manage your own money, many times you will want to copy your financial behaviors from your parents or friends. But keep in mind that the best savings account for a parent does not necessarily translate into the best savings account for young people. As a student, you need an adequate account for the spending and saving habits of someone who does not yet have a stable income.
To begin with, it is very important that you explore the options available in the market. Once you have studied the one that brings more benefits for you, you can use it as a tool to manage your money wisely.
Increasingly, banks develop programs with special benefits for young people and students, and it is understandable. For banks, it is important to begin to have a relationship with the personal finances of their potential clients as soon as possible, thanks to attractive products, with benefits and that can have a simple transition from young to adult. For this reason, many times we see bank agents in universities looking for young people who want to make the leap.
And the fact is that the use of this type of accounts has grown a lot. The Results Report of the Colombian Financial System of December 2017 showed a recovery in the real annual variation of savings accounts, going from 0.11% in November to 3.99% in December. The total balance of this type of product for that year was $ 168.9 billion.
In addition, deposits in these accounts were $ 388.6 billion, of which 43.5% corresponded to savings accounts and 40% to Certificates of Deposit (CDT).