Best modern ways to save money?.

[Ajebo25]

There are many ways to save money now, unlike the days of old where you have to save money in funny places like under the pillow, in a saving box or dig a land and bury it inside this old method has disadvantages from forgetting where you kept the money to the money being stolen by someone who saw you when your where hiding the money, nowadays there are modern and more secure ways to save your money.

You can save your money as crypto, this is a very reliable method as it makes you save money as coins in your phone or laptop, no one can get to it except you.

Another advisable way is to always save your money in the bank as your money is also safe there, it doesn't matter if you don't have a bank account you can always create an online wallet on your phone where you can keep your money.

 

[Suba]

If you have a big amount of money and you save it in the bank, even though it is safe, it is not profitable, because the interest we get is relatively small when we compare it to the inflation rate. Saving money in crypto even though it is profitable for the long term, but if you do not share the password and keywords with your beloved family then if you die all your crypto will be lost. Another way you can save money is in the form of bluechip stocks and real estate.

 

[Oluwasegun purpose]

If you are looking for a way to save your money in a modern and it we be safe, why not save your money into any type of commercial bank,if you safe your money there am tell that your money we be safe and nothing we touch or take the money from there.... Another best ways to save your money in this modern days is to save your money into crypto, crypto is also one of the safest place were you can safe your money and you can keep it there for as long as you like and nothing is going to happen to it there....you can also invest with your money is also the best ways to save your money, but if you are going invest, before investing into anything or any kind of business you should try to know more about the business and go for proper research.....

 

[Augusta]

Saving money first and foremost is very good. Whether it comes with profit or not the best bet is to save money for the rainy day. it is the most any adult can do for themselves. in this hard economy it is even becoming difficult to see someone that even have Monday to borrow anyone. people don't even have the money let alone have the one they want to borrow.

So the best place is the bank. I still don't like the idea of storing money at home I don't think it is safe enough. If you have any burglary then you know that your hard earned money is saved just like that. So the best bet is to save where you know it is the safest place.

if possible it is even better to store in a fixed deposit account. This one comes with a better profit. So save for tomorrow.

 

[Jasmine]

Generally speaking, there are three saving strategies.
Setup and investment funds: Stat saving money so that you can use that money to make investment. Let's say you saved $50 every month for 12 months you will have $600, you can use this money to invest in stock market, or mutual funds.
Set up and emergency funds: Save money that you can use for emergency situations. For instance, you lost your job today and don't get a job for another few weeks. If you have an emergency funds, you can use to pay your bills in emergency situations.
Set up a spending fund: You need to have money in a spending account that you can use for your daily necessities.
Set up an funds for your wants: You want to buy luxury items, go n a vacation, etc. save some money for this purpose.
In order to have different saving accounts, you need budgeting skills.

 

[Mango9]

You can save money by many ways like putting it in a bank or buying crypto currency or joining a group of contribution there are lots of ways you can even get a piggy bank and decide to put money in side it every day like me I put all my life savings into crypto treading.

 

[Shaf]

If you want to keep money aside, you should define your goals for it first, that's if you just want the money to remain as it is or increase in value. A lot of modern ways to save are actually investment strategies which means you can either make profits, losses or the money will retain it's numerical value.

Thus, buying stocks and cryptocurrency can count as a way to save but it's also possible that you lose part or all of your money. Saving money this way should be done carefully and if possible under the guidance of a financial advisor.

Saving money in the bank is the best and safest way to save money, particularly with fixed deposit accounts that can curb the temptation to withdraw the said funds. That's if you do not consider the effect of inflation which has been really bad in recent years worldwide and analysis has shown it may only get worse.

A combination of both bank savings and successful investment will be the best way to save money, balancing both inflation and the potential for losses.

 

[Chibson]

Recently I've been forcing myself to save some amount of money because I prefer to invest. There are several ways in which people use to save money currently and this has actually helped them to be able to save some more reasonable amount of money in order to venture into a lot of things.

In this part of the world there are a lot of inflation and therefore many people have resorted to saving their money in cryptocurrency. This may be very risky because anything can happen to any cryptocurrency at any time and in that case it is important to diversify your savings to different wallets and exchanges as the case may be.

I usually save my money in a stable coin that is very much trusted on an exchange that is also trusted. But if you have a lot of money, if you want to save it in cryptocurrency it is better you use an offline wallet because they are very much reliable and they cannot really be hacked.

Another good way in which people save their money in this part of the world is using domiciliary account. The inflation in our local currency has made many people to resort to saving their money in dollars with a domiciliary account.

 

[Ithedicious]

For me , I don't see cryptocurrency as a reliable way of saving money , even though cryptocurrency is a volatile market and will always increase and decrease , the future potential of cryptocurrency is not known because anything can happen in the crypto space that can make the whole cryptospace to become so worthless . Even if people are interested to save money in cryptocurrency I wouldn't advise people to save more than 40% of their overall asset in cryptocurrency except those that are interested to invest in a particular country's currency for a certain period of time. .

When investing in cryptocurrency , It is always advised that you take all the necessary steps and precautions needed to completely secure your wallet because scammers are always looking for every opportunity to reap from where they did not sow. .

I rather invest all my money in the British pounds than saving all in cryptocurrency

 

[CALVINDOL]

Many individuals are yet to believe that gone are the days where we used to save money in a box or bottles, or possibly bury our money underground. No doubt this could be a kind of safety measures we can take to preserve and to keep our monetary assets safe and secure but we need to understand that those times have passed. But now the use of technology and modernization can so much be effective in keeping our money and other related monetary assets of ours safe and secure.

The modern ways of saving our money and also giving it to the security that it deserves are so numerous. First and foremost we can keep our money in-house security based financial institutions where we can be guaranteed the safety of our monetary assets. Nowadays financial institutions cannot be trusted and so in order to give your money the lasting security it needs you can try the use of online banking.