- 2025-01-30

How can you save more for your future?

Putting money aside for the future is a good idea. But where do you start? How much should you be able to save?

70% of Belgians want to save more for the future without reducing their current standard of living. Among young people aged 18-39, the proportion even rises to 85%. These are some of the results arising from a Profacts survey commissioned by BNP Paribas Fortis.

To secure your future, start by building up a financial reserve, in other words a sum of money that you put aside for unforeseen circumstances. "As a rule, this should correspond to six months' net income," says Koen Van de Steene, investment expert at BNP Paribas Fortis.

Investing in a tax-efficient way

After that, if you can still put money aside, it's better to invest it. In the long term, investments yield more on average than savings. But they come with a higher risk: you risk losing some or all of your original investment.

"As a first investment, I would recommend pension savings. By starting young, you can build up a nice pension pot thanks to compound interest. And you get the benefit of tax relief as well. But you must make sure you don't need this money before you start drawing your pension."

"And after you’ve put aside money for your pension, if you still have cash to invest, you can set up a long-term savings plan. This is another tax-efficient savings solution that can reduce your tax bill, depending on your personal situation."

Regular investing

When you’ve exhausted these savings possibilities, you can consider building up an investment portfolio that matches your investor profile. "It's better to start by taking a cautious and systematic approach, investing a small fixed amount every month," says Koen Van de Steene.

You can start with a few dozen euros per month, which should be relatively easy to find if you examine your budget critically and cut out unnecessary expenditure. You can also use Easy Save, a feature of Easy Banking Web, which rounds up your payments and transfers the difference to your savings account.

A clear goal 

"Set yourself a clear goal, for example, a certain amount that you want to put aside each month, and stick to it," continues Koen Van de Steene.

"And think about why you're investing. You can save up to buy or renovate a house, for your pension, for your children or grandchildren, or even for a dream holiday. If you know why you're saving, that will give you much more motivation. Your goal also determines your investment timeframe, which in turn influences your strategy: will you take a more defensive or dynamic approach? If you're saving to supplement your pension, your expectations won't be the same as if you want to give something to your grandchildren later in life," concludes Koen Van de Steene.

Is it the right time for you?

Do you want to start saving or investing? Discover our tips to get started with ease.

About Ask Your Bank 

BNP Paribas Fortis wants to help you see things more clearly when it comes to managing your money. That's why we asked over 1,000 Belgians about any questions and concerns they had. With our Ask Your Bank series, we address those questions and concerns in a fully transparent way.