Organise your budget
Record monthly income and expenses and tell the essential from the superfluous. A practical rule: first set aside a fixed share of your income for savings and only then plan the rest of your spending. Follow your account activity regularly on BAIDIRECTO.
Build an emergency fund
Before any other goal, aim to build up the equivalent of 3 to 6 months of essential expenses in an easily accessible account. It is this reserve that stops you turning to credit when the unexpected happens with health, work or family.
Use credit responsibly
Credit is a tool, not extra income. Before signing, add up all the instalments you already pay: as a rule, the total should not exceed a third of the household's net income. Always compare the nominal rate, the APR, terms and fees — the lowest instalment is not always the cheapest credit.
Save with goals
Set concrete goals with a deadline and an amount — the deposit on a home, your children's education, retirement. Clear goals make it easier to choose the right product: short horizons call for liquidity, long horizons benefit from compounding.
Remittances and diaspora
If you send or receive remittances from abroad, compare transfer costs and the exchange rate applied, and consider dedicated solutions such as the Conta BAI Nha Terra. Channelling remittances into a dedicated account makes it easier to save part of each transfer.
Learn more
The Bank of Cape Verde provides financial-education materials, and any BAICV branch can answer questions about products, with no obligation.
