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101: Understanding time deposits
Are you looking to manage your money wisely? Maybe you’ve heard the term “time deposits” in your bank’s offerings but aren’t quite sure what it means or how it can benefit you. Well, you’re in the right place! In this blog post, we’ll break down the concept of time deposits and why they can be…
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101: Certificate of Deposits
Let’s dive into a topic that might sound a bit grown-up, but it may just be the right saving option for you: Certificate of Deposits or CD. You might have heard about saving money in a bank, but what exactly is a CD, and how can it benefit you? What’s a Certificate of Deposit (CD)?…
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Sah: Your passport to financial empowerment in Saudi Arabia
Within the Kingdom of Saudi Arabia, the journey towards financial literacy and empowerment is gaining momentum. Aligned with the visionary roadmap of Vision 2030, the Kingdom released Sah – an Islamic subscription-based savings solution tailored to encourage saving among citizens. To sign up to Sah, aspiring savers must be at least 18 years old and…
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The power of patience: Why savings beats financing
In a world that thrives on instant gratification and the latest trends, the temptation to indulge in the buy-now-pay-later (BNPL) culture is stronger than ever. Young adults find themselves grappling with the decision of whether to save up for their desired purchases or succumb to the allure of easy financing options. While the prospect of…
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Current Account vs. Savings Account
There are two main types of bank accounts: a current (or checking account depending on where you live) and savings accounts. Let’s take a look at current vs. savings accounts! Current Account The current account is used for daily expenses (i.e. buying lunch, gas money, and medicine from the pharmacy). With the current account, it is…
