Putting A Little Away For A Rainy Day: Why Saving Your Money Is Essential

There are countless reasons why you might choose to save your money: if you have children, taking an early step by saving for their future is one of the wisest decisions you can make, especially if you plan to send them to university. But it's always a good idea to have some money saved up in case of a sudden emergency. For example, if you or someone in your family were to experience serious illness, injury or unemployment, wouldn't you want to have that piece of extra security standing by? And because saving is generally done over a long period of time, you won't 'miss' your funds from your current income - as long as you start the process early!

If you're thinking about opening a savings account, it's important to do some research first. There are various types of savings accounts available; all of which suit different financial situations, so approaching the process with patience and a bit of knowledge will help you make the right decisions. The internet is a great resource to help you sort through your options - browse through a handful of bank and financial institution sites to obtain a breakdown of various account and savings options, as well as to get an idea of what each one offers; not to mention the time saved!

Instant access accounts, for example, are among the most popular types of savings accounts. While such accounts do not require any notice prior to withdrawing funds, they do offer 'bonus' savings should account owners refrain from making any withdrawals for a given period of time. This type of account allows you to save and accumulate interest while having peace of mind that funds are available in case of emergencies.

You can also choose to place your money into bonds. Bonds keep your money 'locked' away in a savings account for a specified amount of time while they accumulate interest. While this is a sure way of building capital, it does not allow the withdrawal of any savings for the 'locked' term and is therefore more suitable for those who have other means of financial support in case of emergencies.

While it may not seem like it, insurance is another powerful means of investment and saving. Certain policies of life insurance, for example, allow you to cash in on the capital which builds throughout your life before you die. And rest assured that you can gain ample guidance through consumer comparison sites if you're considering insurance as a way to invest or save.

A number of banks and financial institutions offer excellent terms on saving accounts, bonds and insurance, as well as personal advice to help you make the right decisions. So don't put off saving any longer; after all, you never know when - or why - you might need that little bit of extra cash.

Who is HSBC?

They are the world's local bank.

Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. HSBC's international network comprises over 9,500 offices in 76 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa.
With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by nearly 200,000 shareholders in some 100 countries and territories. The shares are traded on the New York Stock Exchange in the form of American Depositary Receipts.
Through an international network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal financial services; commercial banking; corporate, investment banking and markets; private banking; and other activities.

HSBC completes acquisition of Grupo Banistmo

23 November 2006
HSBC announced on 20 July 2006 that an agreement had been entered into with Grupo Banistmo S.A. (Banistmo), the leading banking group in Central America, to make a tender offer to acquire all the outstanding shares of Banistmo for cash. HSBC has today completed the acquisition of 99.98 per cent of outstanding Banistmo shares for a total consideration of approximately US$1.77 billion.
The acquisition of Banistmo complements HSBC's existing operations in the region, in particular in Panama where HSBC already provides services to personal and corporate customers through 19 branches.
This acquisition will enable HSBC to better serve the needs of its regional and international customers. It also establishes a presence in five new markets for HSBC - Colombia, Costa Rica, El Salvador, Honduras and Nicaragua - and provides access to a total population of 83 million people.