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Money Saving
Disadvantages of saving money.
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[QUOTE="Mika, post: 228565, member: 29399"] When I read the title, I was thinking how can saving money have any disadvantage? Well, after reading the post, I cannot agree more. Saving cannot build your wealth, you cannot become rich by saving money, when you are too focused on saving, you will miss all the important strategies to grow your wealth. In my country, banks give you about 6 percent annual interest in your saving accounts. For example, if you save $100 in your saving account, banks will give you $106 by the end of one year. You earn a better interest rate on a fixed deposit bank account, For example, if you deposit $100 in a fixed deposit account for the term of one year, you will earn a 12 percent interest rate and receive $112 by the end of one year. However, if you invest in mutual funds, you can receive at least 22 percent (this is the rate offered by mutual funds companies in our country). You can ern even more if you invest in the share market. I don't mean to say that you should not save, what I mean is you need to save money so that you can invest in better projects. [/QUOTE]
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Disadvantages of saving money.
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