It’s super easy to spend money. Each month we need to buy groceries, put gas in the car and pay our rent, just to list a few things that we need to spend our money on. Then there are the things we would love to get with our money, like a dinner out, a new pair of sneakers, or even going on that much-needed vacation!
What you can buy with your money is endless, and that’s why it is so easy to spend it.
What’s not quite so easy is having some money left over to invest.
That’s why Save has got your back by matching your spending with equivalent investments when you use your Save Debit Invest Card.
You really can Spend to Invest!
Let’s learn how your spending is converted into an investment with your Save Debit Invest Card.
‘Spend to Invest’ in 10 simple steps
Step 1: Make a qualifying purchase.
You buy the family a $300 dinner at your favorite Italian restaurant using your Save Debit Invest Card.
Step 2: Get a Push Notification
After paying the bill, you receive a notification on your cell phone telling you that your $300 spend will be matched by an investment.
Step 3: Go to ‘Transactions’ in your Save app
You can take a look in your Save app to see the money you’ve spent on your Italian night out listed under ‘Transactions’.
The next day, you go to the grocery store and spend $200. Then, you pay for your car to be serviced, spending $400. Then, you continue using your Save Debit Invest Card on each day’s spend thereafter. Each item of your spending that qualifies will be matched by an equivalent investment and listed under ‘Transactions’ of your Save app as ‘pending investments’.
Step 4: View your ‘Debit Invest Total’
By the end of the month, you have spent $5,000 on qualifying purchases, all using your Save Debit Invest Card.
The total value of your spending during a given month will be added to your ‘Debit Invest Total’ ready for investment.
Step 5: Your investment matching will be traded the following month
A few days after the start of the new month, the $5,000 you spent the previous month will be reflected as a ‘pending program’ in the Save app waiting to be invested.
Your ‘Pending program’ will be invested on the second Wednesday of the month. This date will be presented to you in your Save app so you can see when to expect your trade to take place.
Step 6: On the ‘Trade Date’ your spending is invested
On the second Wednesday, Save will make a $5,000 equivalent investment on your behalf in your chosen portfolio. The amount invested will match the amount shown in your ‘pending program’ of your app.
Step 7: Your Invested Program
Once your $5,000 in equivalent investments have been traded, they will appear as invested within the Save app’s My Investments page.
Step 8: You receive a trade confirmation
About a week after your $5,000 has been invested, you will receive a ‘trade confirm’ message from Apex. Apex is the custodian of your investment.
To view your trade confirmation, you can log in online at Save, Accounts > Documents > Trade Confirms.
Step 9: Time to watch your investment
Each day, the value of your investment returns will be updated in your Save app for you to see. Go to ‘My Investments’ and you see the prior month’s debit invest programs. You will see the return as a $ amount and a % performance.
Step 10: Receive your investment return
In 12-months’ time, your investment will mature. Any return (net of fees) will be deposited back to your Save Debit Invest cash account.
For example, if your $5,000 investment matures and the return is 3%* net of fees, $150 will be paid into your account.
These simple steps to investing are done for you.
All you have to do is enjoy spending with your Save Debit Invest Card knowing that each time you spend you are building your investment.
*Average annual returns are based on hypothetical back-tested performance. Hypothetical back-tested performance is no guarantee of future performance and actual results will vary. Returns are subject to change daily. Minimum return will always be at least 0%. All return figures shown are for informational purposes only and are not actual customer returns. For more detailed information please see Hypothetical Back-testing.