What should I do with unexpected money?
SAVINGS AND INVESTMENT I June 16, 2022
At Banco Santander, we give you advice so you can make the decision that best suits your needs. When you get money unexpectedly, sometimes it's not easy to decide what to do with it. There are many factors to consider when making the decision: do you want to pay off a debt?, do you want to increase your assets? Or would you rather have money that doesn't decline in value over time?
If we know what your financial needs and objectives are, your options for managing your money will be clearer. Usually, the most common options for managing unexpected money are:
There is no right or wrong option. It all depends on your profile and your needs. At Banco Santander, many customers in your position choose to make a financial investment. Investing is another way to save for the future and could provide more long-term growth than leaving the money in a savings account. Investing could also prevent your savings from losing value over time.
There are three things you should keep in mind before investing
Over the years, we have got to know our various customers and we have identified five types of customer according to their risk profile:
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