On World Savings Day, GoParity launches a Green Savings PlanJanuary 31, 2021
World Savings Day: Save for sustainability – your wallet’s and the World’s. GoParity launches a Savings Plan that promises to make the world a better place while increasing personal income.
October 31st is globally marked as the World Savings Day. The purpose of this day is to raise public awareness about the importance of saving. Savings are important for rainy days and emergencies, but also to fulfil lifetime dreams.
Although at first sight it might look hard to save in times of crisis, 2020 numbers look optimistic – the household saving rate in the EU-27 was 15.8 % in the first quarter of 2020, compared with 11.5 % in the fourth quarter of 2019 – the highest saving rate recorded and the largest increase observed in comparison with the previous quarter since 1999. If complemented with investment, savings can increase people’s available income and contribute to their financial independence. Nevertheless, on this hand, numbers do not look as positive. In the EU-27, the household investment rate was down to 8.5 % in the first quarter of 2020, compared with 8.7 % in the fourth quarter of 2019.
This is understandable. When the word “investment” comes up, people immediately think about fees, bureaucracy, and complexity. This is the challenge GoParity is trying to solve with its recently launched Savings Plan – a four-step Savings Plan, complemented with automatic investments, that promises to make the world a better place while increasing its user’s personal income. The fintech is confident that its new feature will make people embrace the saving culture.
GoParity Savings Plan is:
• Easy to set-up: four steps and users can start saving.
• Free: there are no opening or management fees.
• Automatic: after setting it up, there is no need to worry about anything
else (transfers are made via direct debit and investments made
• Low risk: investments are diversified and spread through a high number
of projects, assuming a minimum investment of €20 (capital not
• Short to medium term: investments will have a maximum of 5 years
• Users always keep full control: deciding how much and when they want
to save, users can stop the plan at any time and sell they investments in
the marketplace in case they need to be reimbursed for an ongoing loan.
How it works
• Sign up (it takes a couple of minutes);
• Set-up the savings plan in four easy steps: define a name, monthly savings
amount (starting with as little as 25€), define the date you wish to make
the transfer (direct debit), check the simulation and confirm.
After this, everything is automatic
• Every month, a transfer will be made to your savings plan.
• The transferred amount is automatically invested in the projects in
campaign at the platform, guaranteeing a minimum investment of € 20 per
project to ensure portfolio diversification.
• Notifications are sent whenever an investment is made.
• Every month, earnings on the investment are credited on each users’
• There is always money available to withdraw, with no fees.
• If the money is invested and people need it for an emergency, it can be
sold on the “Marketplace”, usually taking a few hours to be bought by
• Users can cancel the plan at any time. From then on, future direct debits
are cancelled, and payments continue until the end of the projects.
October 31st is World Savings Day. Seems like a good day to turn your savings
green. More information on www.goparity.com
GoParity is an impact investment platform launched in 2017, focused on democratizing access to investments in environmentally or socially responsible projects. This work translated in over 3,1 million euros of investment in areas ranging from sustainable tourism to green energy, electric mobility, and reforestation. In 2020, the company was chosen for the 4th edition of Google For Startups Residency, the growth program for tech startups from Google. It recently won the Sustainable Fast Track UK in the financial services.
Ângela Pinto (FES Agency)
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