The world celebrates thrift on October 31st

Thrift is not about giving up, but about foresight. Those who start saving on time not only accumulate money, but also build security. In today’s economic environment, when inflation, interest rates and prices are constantly changing, it is especially important to have savings for unexpected situations. An unexpected expense – such as a broken car, illness or a sudden increase in utility costs – will not shake someone who thinks ahead.

Financial awareness does not happen overnight. It requires conscious decisions, consistency and planning – but it is one of the biggest investments we can make in ourselves. Saving not only provides an answer to present problems, but also a guarantee of future stability.

Saving without goals loses its meaning

Most of us can save persistently if we have a predetermined goal. A goal not only provides motivation, but also a framework for our daily decisions. Short-term goals – such as a new bike, phone or vacation – help us learn consistency. Longer-term goals – such as studies, buying a home or retirement – ​​teach us to plan and make responsible decisions.

Goal-oriented saving is also particularly important in the financial education of young people. If they learn how it feels to save for a goal as a child, financial awareness will come naturally to them as adults.

Parents as the first financial role models

It is worth establishing a relationship with money from childhood. This is why the role of parents is essential: they not only set an example, but also shape their children’s financial outlook. A small pocket money, a joint savings goal or a “family savings challenge” playfully but effectively teach children that money is not only used to satisfy current desires, but also to build the future.

If children see that their parents are also planning – for example, saving for a joint vacation, home renovation or even for their own retirement years – then this outlook will become a natural part of their thinking. The most valuable financial legacy is therefore not the money itself, but the awareness that we bring from the family.

Pre-savings: an investment in future peace of mind

The essence of pre-savings is that we think not only about tomorrow, but also about the distant future. The earlier we start saving, the more significant savings can be accumulated from smaller monthly amounts. This is especially true in the case of preparing for retirement. For K&H, it is important that members of the older generation remain as active and valuable participants in society as possible, and for this, creating financial security is essential. It is worth creating funds at a young age: if children and young people learn about the importance of pre-savings in time, they can live in financial stability that will last their entire lives.

In Hungary, several options encourage retirement savings – for which tax credits can also be claimed – one of these is pension insurance.

As Pálma Székely, head of K&H’s sales and life insurance business, puts it: “Pension insurance is not only a form of savings, but also a long-term commitment to our own secure future, to which state support also adds a significant plus.” With retirement savings, we invest not only in our own future, but also in our peace of mind. After all, those who know how to take care of themselves can live a more balanced life not only financially, but also emotionally.

Thriftiness is not only about money

Saving is actually a way of thinking. Those who are able to allocate their money usually plan better with their time, goals and life. Thriftiness is therefore not only an economic value, but also a human value – an expression of self-discipline, consistency and responsibility.

In light of all this, it is understandable that K&H, with a history of one and a half decades, is ready, money! The financial competition organized for students focuses on demonstrating the importance of saving money and how to do it in practice. It is worth participating in the competition this year as well, because in addition to gaining knowledge that can be measured in money, the best students, teachers and schools can also expect serious prizes. The detailed application form and the application interface are available on the official website: www.kh-vigyazzkeszpenz.hu