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They're a simple, practical way of setting money aside. We suggest a monthly plan to help you achieve your goals.
To create your goal in the app, give it a name, tell us how much you need to achieve this goal and when you need the money by, and choose a symbol.
This money will be put to one side and is not affected by day-to-day payments.
Because every goal needs a plan, we'll create one specific to you and run the calculations based on time and how long you have to achieve it. Whether that's a few days or a few years.
If you're planning for the long term, we'll ask you a few more questions and use that information to propose a plan to help you achieve your goal. You can adjust the initial and monthly amount. The proposal shows you the amount you'll put into the plan plus return on investments.
Autopilot When you activate your plan, transfers are automatically made from your account to each of your goals. Every month, with no extra work. You can increase or decrease the amount whenever you want, or even pause the plan.
In your list of goals, you can see how they are evolving. To help you, we do the calculations and show you if you're on track to meet your goal, and whether you'll be able to achieve the amount you want.
You can add more toward your goal at any time, but if you need that sum in the meantime, you can make a full or partial withdrawal.
By your side
Every time you look at your goals, we'll assess how your goal is evolving — so you can track whether you'll achieve it. You can see the updated calculation and what you've already earned, as well as all the amounts you have deposited over time.
When you are close to the end or just wanting to make a change, we can recommend an adjustment. Then the decision is up to you. Because life happens, Best asks from time to time if anything has changed and, if necessary, recommends adjustments to your goal.
On whichever day you set, we close your goal and transfer the money to your main account. And with some interest on top to help. And now it's finished, you can go ahead with your goal.
What if it finishes and you don't have the amount you need? You can always start with what you already have and create a new goal in the app
I'm dreaming of a holiday!
Good plans always start in the same way: with the first step.
The first decision is to choose where you want to go, whether you want to recharge your batteries, experience new cultures, or discover the unknown.
Once that's decided, it's time to set a budget for the trip.
Then you can create a goal in the Best Bank app, indicating the amount you need, the date and the symbol for your vacation. You'll then receive a monthly plan that calculates how much you need to save per month to make the trip.
Choose how you want to travel: as a couple, alone or as a group. These are very different experiences that have a big influence on where you visit and what you do.
Then it's back to the details: looking at maps, checking out local recommendations, finding out how to get from the airport to your first accommodation (and the next), deciding whether to exchange money at home or in the destination, estimating costs relating to the trip, airplanes, local transportation, accommodation, meals and, of course, activities.
Check out Lonely Planet or Tripadvisor reviews from other travelers.
One way to find cheap flights is to search for the return leg first, so instead of leaving from Lisbon or Porto, see how much it costs for the way back from Bali to Lisbon. By taking advantage of a much cheaper day to return, you can sometimes stay a few days longer through the savings alone.
If the final amounts are different, you can change the target amount for your goal at any time.
Over time, if you can keep topping up your goal, if everything goes well, you'll have a bit of pocket money so if there is a significant price change you have that extra to cover it.
Remember to ensure that your passport is valid, and to check whether the country requires your passport to be valid for at least 6 months after your arrival date. You should also check whether you need specific vaccines and whether you need to attend a pre-travel appointment.
Tip: Purchases made with the Best Gold Plus credit card accrue TAP miles. Even if you don't travel with TAP, you can use them to go to Madrid, Barcelona, Paris or Milan, from where long-haul flights are usually cheaper.
VAT and me — a serious commitment
For independent professionals, the ups and downs in work volumes can be scary… not to mention the taxes!
If you are taxed under the simplified scheme, 75% of your income is taxable and business expenses are deductible.
Every quarter, you must pay VAT on the 15th of the month. Take note of the following dates:
Q1 (January, February and March) — Payment by May 15;
Q2 (April, May and June) — Payment by August 15;
Q3 (July, August and September) — Payment by November 15;
Q4 (October, November and December) — Payment by February 15.
Then you have payments on account if your personal income tax is not withheld, with payments in July, September and October.
You also have to pay Social Security for each month between the 1st and 20th of the following month.
How can we organize all of these obligations?
Let's look at VAT. Create a goal for February 14 (or May, August or November) and deposit the amount you will need at that time to pay the tax. Next month, deposit the amount you will have to pay for the following month. If the amount is always the same, you can specify that amount and the day the bank makes the transfer from your main account to your goals.
On the final day you have set for your goal, you'll receive the amount in your account and a notification, which you can use to pay your VAT straight away and thus avoid fines for late payment.
If you want, you can create another goal just for Social Security or, if you prefer, make a term deposit.
This separates your tax sums from your main account. By doing so, you have guaranteed payments and you can control what is actually available in your account.
Electric, hybrid or cheap
If you got used to Bolt, Uber and FREE NOW in the city, things might be more complicated now that you live further out.
And if a child comes along , it can get even more complicated.
The best thing is to start thinking about a new car.
The big question now is whether you're going to go for an electric or hybrid, or if you're not ready to go down that route yet. You might be worried that if you don't jump on board, they could put an end to traditional gas-powered cars because they're bad for the environment, and then what? A car needs to last for a few years, after all.
A bank would normally recommend taking out a loan, but here at Best, we say that a simple alternative is to create a goal, as follows:
My goal is to get a new car
I want to buy in July next year
And my down payment is going to be €4000
After creating your goal, you'll then receive a monthly plan that calculates how much you need to save each month. You can start from scratch or you could put €350 in and then continue to save every month.
And if you set more money aside or move the date back, you've got yourself a Christmas present too .
Whatever you decide, it's no secret that the latest models will give you better miles per gallon, pollute less and be safer, with the added benefits of GPS, being able to give voice commands, and not having to pick up your phone to see your notifications. Or if you don't feel like listening to the radio, you can turn on Spotify.
Every day of the month that you choose to save, the money is taken from your main account and deposited in your goal, and you can top this up at any time. But if you find an almost-new car at a good price, you can withdraw your goal total through the app.
Then you just need to think about whether you need a pick-up to make sure there's enough space for all your kids' stuff.
Or maybe you'd prefer an SUV to be higher up and get a good view of that never-ending queue .
Perhaps you loved having a convertible, but now's not a good time. That can be your next goal
Tip: Did you know there's an alternative to buying a car through installments? It's called Renting and it allows you to have a car with maintenance and insurance included. The model of the car depends on the amount you want to pay per month, so check out the Best website or ask BEA "What type of car can I get with Renting?"
I need to make improvements before my child is born
In the first month, when anxiety is at its peak, distract yourself by searching through Pinterest for inspiration. Set an amount to spend on the room and use that amount to anchor your budget.
In the Best Bank app, create a goal for around 33 or 34 weeks (after all, your belly and legs might not be much help after then!), then all that's left to do is choose your wallpaper or paint color.
To get started, we'll tell you the monthly amount you need to set aside to reach your goal.
In the second month, start to add up how much each item will cost, from lighting to decor. Think about how the room will be used from a practical perspective, not just how you want it to look. Don't forget to include a changing area!
In the third month, you still won't know the baby's sex, but you can choose a white bed — remember that certain pieces of furniture will need to be ordered and can take 45 days to arrive.
The fourth month is when you should start making the first improvements. If you're thinking of changing the flooring, now is the time. Just as well that you can withdraw part of your goal amount to pay a professional fitter.
To save money, you can paint the bedroom over a weekend. Remember, you're pregnant, so choose odorless paints. Or buy wallpaper.
In the fifth month, you should receive any orders you have placed, take a trip to IKEA and assemble everything. You should still be able to do most things during this month.
Start asking your couple friends if you can borrow a stroller or a car seat.
Month six is all about baby's closet, bedding, blankets and play area. Remember, these things can also be borrowed — loans and hand-me-downs won't harm your child's development. It's time to check out the stores, continue to save, and withdraw some of the money you've saved for these purchases.
In month seven and eight, the will to walk around will begin to dissipate. And you'll become tired…
Now it's time to decorate the room, decide where the cushions will go, assemble the baby's mobile, and move the furniture around to see what's best.
The last few weeks are for rest, but don't forget to prepare your bag for when your bundle of joy arrives.
You're all set for the big day!
Rent, pizza and gaming
After so many years of your parents paying for your home and bills, now that you've started work, controlling your spending might be proving difficult.
Until you have your budget under control and you have an idea of when each bill falls due, it's best to set money aside so that you don't have to mess around with your everyday account .
Log in to the Best app and create a goal for each expense:
Rent to be paid by the 8th
An amount for paying bills such as electricity, water, gas and Internet
Remember that Netflix is billed to your credit card
The insurance for your
Most bills go out at the end of the month or during the first week, so you can make two goals with dates for each Monday in these weeks.
Rent is due by the 8th, and that says it all.
As this is a short-term goal of just a few days, you can simply set this amount aside. But if you've taken out a monthly plan to buy a PlayStation 5, in addition to your monthly savings, you can pay €200 now and pay the rest off month by month.
That's all there is to it. When you get paid, you can create goals and then use whatever's left over to eat out or spend on Glovo (and with friends on your new PlayStation).
A place in the sun
Every year when summer comes around, you charge up your car and set off to a rented villa in the Algarve. Then it's the joy of meeting friends for lunch under the shade of a tree, the kids playing ball on the lawn, going to restaurants in the evening (significantly fewer than before) and staying out to watch the sunset on the beach .
You love it so much, but rental costs are always going up. Between vacations and getaways, you might be thinking about buying a holiday home.
Perhaps you think there's no point buying in Praia Verde, but Sotavento is calling you ? ?.
Why not use some of your savings and create a goal?
Log in to the Best Bank app and create a new goal named after your future holiday home. Let's say you need €45,000 as a down payment two years from now — now choose the house symbol.
With what you save as a couple, you can make several deposits, receive interest as they mature and top up your goal. You can then change your monthly plan suggestion and create a new plan tailored to your lower monthly amount. You may be advised that this won't be enough, but the app doesn't know your strategy.
You can check later on whether or not you're on track to meet your goal. Every time you receive a holiday or Christmas bonus, you can top up with another deposit, getting you closer to your goal.
And Best will be able to see how you're doing, congratulating you when you achieve half of your goal and notifying you when you need to deposit more money.
It'll be your place in the sun — as the Eurythmics sang, "sweet dreams are made of this."