(Photo credits: Unsplash – Adeolu Eletu)
Inflation is on everyone’s lips, reminding us as soon as we go shopping or refuel, it has been in the news for several months. Very present in our daily lives, it should also lead us to review our personal finances and our investments, particularly with regard to our use of regulated savings accounts. Inflation should translate into an increase in a number of regulated savings investments on August 1. Which ones are affected? How high will the new proposed rates be? Is this good news for savers? What attitude to adopt? All our explanations.
Notebook A, a great classic
When we talk about regulated savings, the first savings account that comes to mind is without a doubt the Livret A. This great saving classic whose minimum payment is 10 euros and has a limit of 22,950 euros is a guaranteed capital investment. very advantageous from a fiscal point of view since profits are not taxed, neither with income tax nor with social security contributions. However, the interest rate shown by the investment is relatively low. Le tax d’intérêt du livret A is set at 1% after February 1, 2022 and will be ported to 2% on August 1, 2022 as announced by the Minister of the Economy and Finance who submits the recommendations of the Gouverneur of the Bank of France.
Also Read: Rise in Booklet A: Should I Re-Invest in This Investment?
The Sustainable Development and Solidarity Notebook, an additional envelope
The Sustainable Development and Solidarity Booklet, or LDDS, can complement Booklet A if it is full. It is also a guaranteed regulated savings investment that allows you to recover intact the sums deposited in your savings account at any time. The minimum payment for an LDDS is 15 euros and its ceiling, much lower than that of booklet A, is only 12,000 euros. Note that the tax benefits are identical to those in booklet A, as is the remuneration. Thus, the interest rate published by the LDDS should also increase to 2% on August 1, 2022.
The Livret d’Epargne Populaire, reserved for the most modest
The Livret d’Epargne Populaire, or LEP, is also a regulated savings account exempt from all taxes. Its minimum payment is 30 euros while the ceiling of this endowment is set at 7,500 euros. This guaranteed capital investment is accessible under rental conditions according to the number of installments of the family quotient and which vary according to the place of residence (Metropolis; Guadeloupe and Martinique; Réunion, Guyana, Mayotte). The LEP rate is 2.2% from February 1, 2022 but, like other regulated savings accounts, a rise is planned for August 1, 2022, which will bring its new interest rate to 4.6 %. Indeed, the LEP rate corresponds to the Livret A rate increased by 0.5 point (2.5% therefore as of August 1, 2022) or to the six-monthly average of inflation for one year if it is higher, that is, 4, 55% if we take into account the INSEE figures. This figure has been rounded to 4.6%.
Savings account: an increase that does not cover inflation
In any case, livret A and LDDS as LEP, the interest rate as it is from February 1, 2022, like the one that we will be able to benefit from August 1, 2022, does not allow to cover inflation. In fact, for several months now, the consumer price index has continued to grow, reaching 5.8% in June over a year. Throughout the year, it should exceed 5%! In this context, it is clear that the revaluation of regulated savings rates is not enough to cover inflation. Thus, these savings books, in absolute value, not only do not allow them to earn money but even cost money to those who use them.
Bank books: investments should be limited as much as possible
Therefore, it is essential to reserve regulated savings accounts for the creation and maintenance of precautionary savings. Since these passbooks have guaranteed capital and are accessible at any time, they are preferred for the emergency fund that is used to pay for all unexpected expenses (garage mechanic, veterinarian, plumber, locksmith, etc.) since they are still poorly paid unlike current accounts which is not at all.
It will also be possible to use the livret A, the LDDS and the LEP if you can, to finance your short-term projects, such as financing vacations, buying a car, etc.
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