Be trusting but not stupid

With Riksbanken's lowering of Sweden's policy rate at the latest monetary policy meeting, advisers are now starting to talk about the benefits of saving. After years of ever-increasing interest costs and rampant inflation, many now see the light at the end of the tunnel and the beginning of the end of extremely high living costs.

This means that many banks and financial institutions now see their chance to push for increased savings. Their advisers always recommend the most obvious first, paying off any loans. In addition to this, self-evident number 2 is mentioned, to have a buffer preferably corresponding to 2 months' net wages. After the advisors mention the "must" savings, they always end up on option 3, mutual funds. Saving in mutual funds is of course a good way of saving and absolutely better than nothing at all, but you have to remember that the advisers speak for themselves, they want to sell their product. Compare between different banks and financial institutions to get the best option for you.

No one cares about your money as much as you do. - Liza Dewlar