Making the best of your savings

[Augusta]

Do you know that you can multiply your savings? Than just dumping it continuously in your bank account. Banks do business with fixed deposit funds and still give out only little interest for an intended period of time. So it will be better to make your money work for you than giving the bank free money to make good profit from.

• You can buy viable business shares and become a shareholder. Hereby getting paid dividend monthly
• Lend it out to an honest person at a good percentage to make good interest monthly
• Use it for a hire purchase business, the person involved will need to pay you your capital and profit instalmentally

Quit storing your funds, when you can multiply it daily.

 

[Alexandoy]

I agree with buying shares of stocks of good corporations but I disagree with lending your money to earn. There is a Chinese saying that the “baddest” commodity for business is money which means you should not indulge in lending money to earn interest. Anyway, the stocks called blue chip stocks are of big corporations with a good financial track record. Their stock prices may fluctuate but there is a very slim chance that it will crash therefore a blue chip stock is a good investment. Our investment in the stocks of the biggest bank here is now worth $30k which is big money. It increased substantially in value after 3 years of holding it.

 

[Augusta]

I agree with buying shares of stocks of good corporations but I disagree with lending your money to earn. There is a Chinese saying that the “baddest” commodity for business is money which means you should not indulge in lending money to earn interest. Anyway, the stocks called blue chip stocks are of big corporations with a good financial track record. Their stock prices may fluctuate but there is a very slim chance that it will crash therefore a blue chip stock is a good investment. Our investment in the stocks of the biggest bank here is now worth $30k which is big money. It increased substantially in value after 3 years of holding it.

Yeah, this is why we have different strokes for different folks, you might disagree with point 2 maybe because of your experience or that of others but it does work for others I'm writing from experience. The money I lend someone is still running now after 3 year's because I lend it out to a very honest person. I still get my 10% interest monthly and it is working fine. So the first thing is getting a very honest person then you can allow your money work for you this way. For others like buying shares I think a lot of people have benefited and more will continue as more viable companies look out to expand, hereby asking the general public to key in and also become part of the investors of the business

 

[btaliat]

I always advise people not to save money with the intention of getting rich. No one can get rich through saving. That's why I will support all what the poster said. When you save to some extent or stipulated amount. Then learn how to let go of the money into various investment or business in order to generate money for you. Leaving it idle in the banks or other financial institutions will generate little if no interest for you. And the fact is that most of these banks use your money for investment.

 

[Augusta]

I always advise people not to save money with the intention of getting rich. No one can get rich through saving. That's why I will support all what the poster said. When you save to some extent or stipulated amount. Then learn how to let go of the money into various investment or business in order to generate money for you. Leaving it idle in the banks or other financial institutions will generate little if no interest for you. And the fact is that most of these banks use your money for investment.

Yeah right, well, the banks are financial experts so they know the need to use money available to work for more money so as such they don't allow any bank lie fallow in their safe. It is good to save but it is good to know when to start investing. I like it more when my money works for me. I shouldn't be working for money all the time, so yeah I totally agree with you, save as much as you can but know when to put it to start working for you

 

[Kinglegend01]

Yes I agree with you that saving money in a bank is not actually advisable nor profitable and rewarding. All these options you have mentioned up here in your thread are good ones and legit ones too. But, I would like to suggest another option, investing some of your money in cryptocurrencies, due to the unstable nature of cryptocurrencies ( the rising and falling of its value and price), it is good option to invest in.

 

[Carpon]

I do see people around me who skip a lot of money multiplying opportunities in the name of trying to save
As far as there are opportunities open for you to invest viably,it is more advisable that one goes ahead and invest rather than save