In El Salvador, there are several types of savings that people can consider, the most common are:

1. bank savings accounts: these accounts offer a safe way to save money and earn interest. Generally, they require a minimum balance and offer liquidity.

2. Certificates of deposit: These are fixed-term investments that offer higher interest rates than savings accounts. The money is locked in for a specific period of time, and early withdrawal can result in penalties.

3. Credit union savings accounts: Credit unions also offer interest-bearing savings accounts and often have more flexible requirements than banks.

4. Informal savings: Many people in El Salvador save money informally, such as keeping cash at home.

5. Mutual funds: Some people invest in mutual funds, which allow them to diversify their money in a professionally managed portfolio.

Remember that the type of savings you choose depends on your financial goals and risk tolerance. It is important to do your research and talk to a financial advisor before making important savings and investment decisions.

Translated by: A.M