Is the idea of saving money at home advisable.

[TOZZIBLINKZ]

There could be some reasons why we need to keep money at home but the idea of saving money at home is absolutely ridiculous and totally unadvised, moreover we need to understand that gone are the days where human beings usually save your money via crude ways of money saving such as saving money on the ground, saving money in box, or bottle. It is high time we appreciate the modern ways of saving money which totally involved depositing your money in high security based financial institutions and banking systems. By doing this we provide our money the security and safety it deserves. Second or money at home, can totally make it the subject or make it vulnerable to the hands of crime and others such as armed robbers, pickpockets, hoodlums, and miscreants etc.

In addition, you shouldn't be so quick to deposit our money in any financial institution that possibly exist in the country we reside for the purpose of safekeeping, and that is because not all financial institutions are as effective and efficient as they claim. And that involves we the money owners and depositors, to practically do a research on commercial institutions existing in our country, in other to make the right choice. Many have loosed their monetary assets and properties to inefficient and ineffective banking and financial institutions but in other to avoid this we must do our research. In addition, it is preferred to make use of online banking platforms and applications, because there are more flexible, accessible, and retrievable compared to offline banking systems.

 

[cmoneyspinner]

There are lots of people who save money at home. There is a joke that gangsters always keep a cash stash. I think it is a good idea to keep a cash stash. But I would not keep a lot of cash on hand in my home. Cash can not be replaced.

 

[Heartstrings]

Well,I actually thinks it depends on every individual,I can say that majority of our aged parents/grandparents keep their money safe at home,and still intact. Personally there was a time I was keeping my saved Money at home some years back and infact it was fun to me and I enjoyed it, thou it needs decipline, because been kept at home you may have the urge to use it but it never crossed my mind then,why because I was so determined to save as I have an aim and a goal.

That been said,saving money in the bank is still the best to some people,there is a guy I know,he owns a shop in my area, but he has no any account. He has a unique way of saving his money for many years now and no regrets whatsoever till date. But then what works for A may not work for B.

 

[Richee84]

Savings require a lots of discipline and self determination to achieve it. Once we have decide to start saving it is advisable not to save in the place that we can easily get our hand on it.

Human by nature are in need of one thing or the other and if we decide to save at home that is within our reach then it will be very easy for us to get hold of it and make use of the money if we are really press and in need of money. It will be to difficult to control ourselves from not touching the savings we are seeing with us everyday while we are in need of money.

Most people lack financial discipline when it come to spending of money so therefore it will not be good for such people to save at home where they can easily get it. The best place to save is in the financial institution or insurance company. When you save in a financial institutions, it will be difficult for you to access it compare to when you save at home.
Saving in Financial institutions will help us to discipline ourselves from spending the money the way we like because the money is with us.

 

[sincerem]

I don't keep money at home, I love digital funds, I use them for online investment. If I withdraw all my funds and save in the house, it will be baseless and wouldn't generate me profit. When I want to withdraw, I'll just withdraw money I can use at that moment and not bringing home money to save. We have banks, if I want to secure my money long term, I'll save in a fixed deposit account and earn some recurring interest, at least better than saving money in the house where value wouldn't be added. Not even because of fear of thugs, I'm keeping money away from home because I am specifically using my funds for online investments to give me profit.

 

[Carpon]

Keeping money at home really comes or should I say has a lot of disadvantages and you have listed some very important ones among them. And I think technology offers us good solution to such problems and that is why people need to appreciate and also make use of the modern means of saving money.

I have always being an advocate of the fact that money must never be saved at home. It can only be kept and by keeping, you only keep what you will need for some cash transactions and not what you have as savings.

Money is more prone to theft at home even though there are ways that money kept in banks and other forms of saving could be stolen but nevertheless, the security such offers is beyond that which home saving offers.

At home, we have rodents and moths which destroy things like this. You also will be close to the money and possibly spend it.

 

[Augusta]

Well I don't think where we will save money is the problem because money can be saved anywhere but the issue is if the place is secured that is just what we should worry about. if you can save your money in your home and it is what you can do to saved and you know nothing will happen to it there then there's no issues.

it is same with saving your money in the bank if the bank is secured like from my personal experience then there's no issues saving the money in the bank, as I have stated before the problem only lies where it is safe because it never funny to save your money even in the bank and when you request of it, it cannot be produced then it was a failed place that you save your money because the whole essence of saving your money was to keep it secured has been defeated.

 

[Mr Frederick]

Many people choose to save money at home.
It's a running joke that gangsters always have money on hand.
Maintaining a cash reserve is, in my opinion, a wise idea.
But I wouldn't carry around a lot of cash around my house.
Cash is irreplaceable.