“Saving is an effective mechanism for creating wealth” declares Banco Adopem on World Savings Day

28 October 2015
Banco Adopem

With the slogan “El que ahorra siempre tiene” (If you save, you’ll always have money), and continuing with their mission of creating and promoting products and services tailored to the needs of low-income sectors, Banco ADOPEM celebrated World Savings Day, held every year on 31 October.

Banco ADOPEM maintains an ongoing social campaign to encourage savings and a better management of revenues and expenses. It is essential to organize the way in which money is invested or spent in order to achieve goals, have a solid fallback for emergencies or start up a new project.

In October 2015 the bank organized chats on savings for children and young people in primary and high schools in the Dominican Republic. More than 4,500 children in Santo Domingo, Santiago, La Vega, La Romana and San Juan de la Maguana and other cities attended these school activities.

The bank emphasized that saving is an effective mechanism for creating wealth and offers the peace of mind of knowing there is a backup in the case of any contingency.

To be able to save, and have fuller financial lives, we first need to learn to distinguish between a need and desire. Need involves basic aspects such as food, water or housing. Desire refers to a treat or an impulse for something unnecessary.

By drawing up a family budget that identifies the areas in which expenditure will be made we can reduce or definitively eliminate all our monetary shortfalls throughout the month, explains Banco Adopem.

We have the option of spending only what is strictly necessary, not incurring debt we are unable to pay back, and setting aside a sum for saving. People who plan their finances tend to have more pleasurable lives.