Understand
the Economy and Banking

Savings are the part of income that is not spent on immediate consumption, but rather is set aside for future use.

Purpose
Savings are accumulated for various purposes, including future planned expenses, emergencies, investments far in the future or social security needs.

Security
Savings are associated with a desire for financial security, whether to cope with unforeseen events or for specific projects such as buying a house, children's education or retirement.

Returns
Savings can generate returns if invested. Savings accounts, certificates of deposit, bonds and investment funds are examples of instruments that can offer returns over time.

Inflation
The value of savings can be affected by inflation. To protect purchasing power, which decreases as inflation rises, it would be necessary to invest savings in instruments that offer returns above inflation.

Behaviour
Saving money presupposes discipline and requires planning. Virtuous behaviours such as reducing unnecessary expenses, planning the family budget and automating money transfers to savings accounts can facilitate the accumulation of resources and, therefore, the increase in savings.

Some of the most common forms of using savings are:

Bank current account
A savings instrument that allows money to be deposited, payments to be made and services to be used (e.g. salary crediting and bill payments).

Saving deposit account
Offers an interest rate for deposits, with high liquidity.

Certificates of deposit
Generally offer higher rates of interest than conventional deposit accounts, but require the sums deposited to be tied up for a certain period of time.

Postal interest-bearing bonds
Issued by Poste Italiane, they offer a fixed return with various maturities. They are guaranteed by the State and are exempt from inheritance tax.

Retirement plans
Tax-incentivised long-term savings programmes designed to provide a regular income, usually upon reaching retirement age.

Stability
Savings allow economic stability to be maintained and to be prepared for periods of reduced income or unforeseen expenses.

Economic independence
Offers the opportunity to realise projects without having to depend on external funding.

Planning for the future
Savings facilitate the achievement of long-term objectives and the management of personal finances in a strategic way.

Article 47 of the Italian Constitution provides:
"The Republic encourages and protects savings in all its forms; it regulates, coordinates and controls the exercise of credit".