It is best to keep your money in the bank

[Alexandoy]

I have a substantial amount of savings that is kept in the bank while waiting for more funds to come for buying a lot or land in a rural town. Many are saying that money in the bank is not good because it will lose its value. Actually the value will not be lost but just reduced slightly due to the inflation.

A friend had been investing in forex and stocks with his retirement pay. Sometimes he earns a profit and sometimes he loses. He admitted that he is entertained with trading because it has the color of gambling. If he keeps his money in the bank then there is no thrill. He has a good reason there but I still believe that when my money is safe in the bank then I have peace of mind. I just watch sports on tv for the thrill.

 

[Willans]

To save money is good ask you said yeah a lot of people saying that keeping money in the bank will lose value yeah money is very good if you keep it your bank to save money is a very good thing or do some people talk about keeping money in the bank its lose value but you keeping money in your bank is a very good thing for you to make more money and want money for using it for more thing or keep it for another use

 

[Mika]

In my home country, middle aged and old people prefer to save money in the bank, whereas young people prefer to make investments in various areas like the share market, real estate, business, etc. Saving in banks, especially in interest-bearing saving accounts or fixed accounts give you good return

 

[sincerem]

Their is no doubt, with the bank you can have assurance that your funds are safe from devaluing at least. If you keep your personal banking details intact you won't face phishing or hacking attempt to steal your funds. Bank gives full-time security to their customers they are the top priority in their banking institution. That's why anything that affects the customer's funds is taking into account immediately.

 

[Sammyesx]

I believe it all depends on what you want to do with the money, if you have plans to use the money for a particular purpose in the future then I believe it is best to put the money in the bank that way you will be able to withdraw it anytime you need it since there is no 100% guarantee when you invest the money.

 

[Sherman198]

Saving your money in the bank is the best....If you put your money on a site and site crashes, I think your money will go down with the site. Site can crash any time. It's better to put your money in the bank, where it will be safe. I don't believe anything can happen to your money in the bank. Even if a bank fold up, which is very rare, there's still a way to get your money back.

 

[btaliat]

Saving money in the bank is meant for only people that want to do a project with such an amount and not people that want and need to be rich. It is not only reduction on charges that discouraged me from saving with banks. But inflation is the major turn off. You won't believe your $500 of 2021 may not buy goods of the same value in $2022.

 

[Dla]

Sir your money in bank is safe but if you want increase money then bank is not give you good profit if you can do bissnuss is better but do if you have experience. If you don't do himself so you invest money with in my business your money will be safe and also get good profit this is my opinion and I am honest with you.

 

[Setho]

I think that it is actually common knowledge that you should save your money in the bank as compared to other ways because it is actually much more safer. It is a lot more wiser as many people have tipped that you should rather invest the money in they were the risk that you think has a high potential for growth in the future.

 

[TOZZIBLINKZ]

We live in a modernized and technology-based system . and so it is advised that each and everyone of us abide and getting used to this modernized and technology based system of things that we are living in . Gone are the days when money were stored in boxes , bottles , and holes in the wall , or possibly stored in the ground . Presently we do not practice this ancient and crude ways of storing money financial and security based money-safekeeping institutions have been established , possibly by the government and by private individuals to provide security for your money . it is totally preferred and advised to store your money in banks rather than saving it at home especially if you are living in an area with high crime rates . You could make your saved money vulnerable to crime indulgers who could possibly break into your house at night . And also saving your money in banks totally give you that vibe of saving money because keeping your money at home claiming that you are saving it totally puts you in a state to spend more since you are still in possession of the money or since the money can be easily reached and assessed but you .

 

[eldavis]

Well, honestly speaking, everyone with their spec and preference. I have come across some persons who would rather invest all they have than having any form of savings. While I am not totally against investments cause it is actually a good thing to invest, but I feel while you invest there should still be some savings to back yourself up.

 

[funmi]

Well,you are not totally wrong with your assumption about saving money in the bank, the money may reduce a little due to bank charges and all but you wont expose your money to the risk of losing it or investing it into an unprofitable business or ventures. I do understand your point of view properly and have once thought of that before myself.
To buttress your point, I have invested my hard earned money into businesses both offline and online before and it yielded nothing. In fact, I lost a lot in those businesses. It made me to start from zero point. It was a painful experience. I will not forget those experiences.
Now, for the fact that I lost in businesses which I did some times ago did not mean I will not try again next time. Whenever I want to get discourage because of my past, I also think about what would have happened if those businesses I did then had come out successfully, I would have been glad I did those businesses.
I believe life is all about risk, if we do not take risk at times, we may not really move forward in life. Investing your money in to businesses will help you to increase the possibility of making it in life.

 

[Richee84]

Keeping money in the bank has a lot of advantages, it is one of the safest form of keeping our money. But in reality keeping money in the bank is more or less like borrowing the bank ur money to run their own business in which they make a lot of profit from. The bank usually use the money kept with them to run their own business and make huge amount of gain or profit from it which the owner of the money will not be able to make. Utilizing our own money by investing in a profitable business is better than keeping it in a bank where there is no return that is coming in from the bank for using ur money to run their own personal business. When we use our money by investing it on a viable and profitable business the money will bring in returns and the owner will realize profit from it. If the money is been invested on a business the money will keeping increasing as the owner me profit on it and the profit can be use for different purposes but keeping it in the bank will not make the money to increase as is that particular amount u have with the bank that u are entitle to collect back.

 

[Ithedicious]

I saved my money in the bank for now and I consider it to be one of the best way of saving money , but I am gradually losing interest in saving money in the bank because it is just a waste of time ever since I came to understand about cryptocurrency.

I am still contemplating if I am to take out all my savings from the bank to invest in cryptocurrency . Even if I have to do that this is just the perfect time for me to do that because the price of cryptocurrencies are relatively low . If I can be able to invest now the possibility of me making money in the future will be higher especially when the bullish season will come.

I know saving of money in the bank gives a lot of security to your assets and your assets always remain in its place until you are ready to used it. but the point is that it does not increase in value and sometimes if the economy of the country is going down the value of your asses will keep on depreciating .

Investment is just the best for me and that is what I will consider doing.