Is it worth leaving the money in savings?
Saving money is still one of the great difficulties Brazilians face, whether to prevent themselves in an emergency or to invest in something in the medium or long term.
Saving is the most popular way of making sure that extra money stays secure and has a stable profitability. But is it still worthwhile or is it interesting to seek new forms of financial application?
It is important to remember that saving is a safe investment, but leaves nothing to be desired in terms of profitability. Currently, income is only 0.55% per month, which means 6.6% at the end of a year.
It is also worth mentioning that the expected inflation for 2017 is 3.33%, which “eats” a good part of the real savings income.
Savings and income tax
Is the savings liquidity exempt from income tax? Yes and no. Generally speaking, you do not have to declare income earned on your savings, but if in a year you make more than $ 40,000 in exempt investments – and that includes savings – you have to pay tax. If your income still does not reach this limit, you can rest easy.
For whom is the savings indicated?
Because it has zero risk of loss, savings are indicated for those who have a conservative profile. That is, you do not plan to risk your money on unstable stocks or investments such as funds, direct treasury, etc.
Saving is also a good option for those who want to invest little money per month and have 90% of their monthly income committed to fixed bills.
+ Should I invest my money in savings or private pension?
In addition, people who have an unstable financial life can also benefit from saving. Since unforeseen are always more expected with freelancers and do not have a source of fixed monthly income. (for these professionals, life insurance with temporary disability cover is a good idea!)
You can withdraw the money from your savings in the amount and date you want, not having days to maturity as in other funds.
How did savings come about in Brazil?
With rules defined by the Brazilian government, the savings account, or simply savings, is the most traditional investment in our country.
Savings have their origins there at the time of the empire, being instituted by Dom Pedro II in 1861. In its decree, the Federal Savings Bank was created and regulated. It had the purpose in the time of remunerating deposits with interest of 6% a year.
This type of investment was focused on the low income public and allowed monthly deposits of up to 50 milreis.
It was only in 2012 that Brazilian legislation determined that deposits received an additional remuneration of 0.5% per month (in addition to basic remuneration).
And that deposits made as of May 4, 2012 (period that determines the term “new savings”, receive additional variable remuneration according to the Selic rate target.
Want to stay inside the IR? See which expenses can be deducted from the Income Tax.