Whether you're building up a savings reserve to cover unforeseen expenses or saving up for something special, there are several ways to get the most out of your savings. Most people open a savings account and put a set amount into it each month. However, there are other ways of setting money aside that could even save you money in the process.

Whether you're saving for something special or just building up a reserve, the easiest way to go about it is to save a fixed amount regularly (like every month). That way you force yourself to save money rather than spending it.

Choose a realistic sum so as not to leave yourself in everyday financial difficulties by trying to save overly large amounts. Depending on your personal situation, it's advisable to save a certain percentage of your salary. If you keep doing that consistently, you'll end up with a nice nest egg in your savings account.

Besides saving a fixed sum of money on a regular basis, you can also choose to save whatever you can spare. That means leaving a certain amount on your current account at the end of each month and saving anything above that amount. This allows you to avoid getting into financial difficulties if you're faced with more costs than usual in some months. 

The safest way to save is by opening a savings account. It lets you save without risk and you know in advance how much interest you can expect to earn. Interest rates can of course change due to external influences like the European Central Bank. 

Not only can you save for yourself, but you can also open special savings accounts to easily save for your children or other loved ones. A savings account also lets you decide how much you want to save and when. So, if there are months when you're a bit short of cash, you just save a bit less. 

If you have money that you can spare, you can also save it by placing it on deposit for a fixed time. A time deposit account gives you the certainty of knowing that at the end of a specific term you'll have a tidy sum waiting for you. That's because the money you deposit is held for a given period at a fixed rate of interest that's guaranteed when you open the account. So, any change in interest rates after you open it has no influence on the rate you get for your investment. Just as with a savings account, your capital is guaranteed.

The advantage is that the rate of interest is often higher than on standard savings accounts, though the rate of withholding tax you pay is also higher (30%) and there's no tax-exempt tranche as is the case with a regulated savings account.

If you decide to open a time deposit account, you need to be sure that you can do without the money until the end of the term. If you do end up needing to access your money early, you can cash in the investment, but you'll be charged for doing so.