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Why Save?

Different people save for different reasons. It makes saving easier if you have a clear goal or purpose for the money you are saving. Here are a few reasons that you may consider saving your money. The help and advice we can give you at F.W.E Crowe Insurance includes picking a term over which the savings will accumulate, the amount per month required to achieve the fund required and advice on what type of funds to invest your money in, based on the term and your risk appetite.


The most popular reason to begin saving money is for your children's future education. To put it simply, it is not possible to send your children to college unless you have savings available to help with the costs. Our most popular savings plans are set up by parents to transfer the children's allowance into a long term savings plan to meet the cost of college education. These plans are flexible and can be accessed when the children start secondary school e.g. the bill comes in for €1000 at the start of secondary school for books and transport. You can withdraw €1000 from your education plan and leave the balance to grow until it is needed again or until your child goes to college when the bills increase dramatically.

Save for a Down Payment for a House

Another popular reason to save money is for a down payment on a house. Mortgage providers typically require a down payment before mortgage application. Also, your negotiating power goes a lot farther when you have a significant down payment towards your home. You will receive better interest rates, and be able to afford a bigger home.

Save for an Emergency

It is important to have an emergency fund set aside to cover unexpected expenses. This could cover an unexpected car repair, an emergency operation or a sudden job loss. Ideally, your emergency fund should be about three to six months of your expenses.

Save for Vacations and Other Luxury Items

A fourth reason to save money is to have fun. You can save up for your tour of Asia or that Caribbean cruise. Additionally, you can be saving for fun large ticket items such as a campervan, a new boat or that swimming pool you've always wanted. Your negotiating power is stronger if you have cash on hand for bigger purchases. Plus you do not want to be paying off your cruise in five year!!!!. This is saving for the fun things, and it is often easier to motivate yourself to save this way.

Save for a New Car

A fifth reason is to purchase a car with cash. You will be amazed at how much money you can free up in your budget if you do not always have a car payment. You can also negotiate the price of the car much lower if you are willing to pay cash at the dealership. Living without a car payment can make a huge difference in your monthly budget. You can save a lot of money for your other goals once you start paying for your cars in cash.


If you've got plenty of money in your cash savings account - enough to cover you for at least six months - and you want to see your money grow over the long term, then you should consider investing some of it. Maybe you have sold a property, received an inheritance or won the lotto!!!

The right savings or investments for you'll depend on what your appetite for risk is and on your current finances and future goals. Below is a short video courtesy of our friends in Zurich Life and pensions which explains the concept of fund investing.

Get in touch with us today and be on your way to finding the right policy for you.