The magic figure that you should have in the bank to avoid problems, according to the OCU

The OCU has made some recommendations regarding savings and has established a maximum amount of money that people should have in their current account.

The ability to save depends on income and expenses and will determine the possibility of facing an unforeseen economic event. The Organization of Consumers and Users (OCU) has warned of the danger of having too much money in a checking account.

The organization has noted that Current accounts are not the best option for saving long-term, since Most entities do not offer interest for holding the money. The OCU has recommended having a short-term savings account, money that you could do without without major consequences.

People tend to think that it is better to have a large sum of money in the account, but The OCU has begun to talk about a maximum that is safe to keep in the bank. The rest can be used in deposits, investment or long-term savings.

The maximum amount of money you should have in the account

The Organization of Consumers and Users has established a maximum guideline amount of money in the checking account that should not be exceeded. The purpose is to use it more intelligently, but also to ensure it against scams or unforeseen events.

The OCU has calculated that Current accounts must have the equivalent of three months’ salary to ensure that basic expenses and direct debits are covered. This recommendation only works if people spend based on the income they generate.

The three monthly payments provide a financial cushion with which to face unforeseen events such as vehicle repairs, family emergencies or purchasing a household appliance.

Some entities such as the Deposit Guarantee Fund only They cover the first 100,000 euros per holder and companyso dividing the funds offers greater security against unforeseen events or a bank failure.

If clients exceed three monthly payments, they could consider investing in financial products that offer greater long-term profitability.

Even so, the OCU has assured that there is no savings model that adapts to all situations and the smartest thing is to find a balance between liquidity, security and profitability.

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