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Self-Discipline And Saving Money
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[QUOTE="mantra23, post: 121735, member: 41429"] We all know the individual that's too thrifty to be there, someone that's scared to spend money. Then you have people on the reverse side who don't know how and wind up losing their money. But what does it mean to make money, at the same time, if you can't spend it? It is not good hiding mounds of cash and praying that it would never be taken by the Government. A medium-ground is the best way to look at this. Money is a tool to purchase wonderful things, to enjoy life and, above all, to generate more riches. In the end, as a saver or an insane spender, nobody is becoming rich. I mean think about it, If most people are looking to save money, their first thoughts are to invest in a longer-term savings account (which is a bunch of BullSh*t to me). Although this might appear like a safe place to store your cash, it does more damage than good. First, your returns will be fed by inflation. If you put it in a savings account, inflation will render your money worthless. The inflation rate swings by 1% -2.4% every year, if the economy stays the way it is. The savings account interest rates are around 0.06%. If you can be offered to take more risks, please think like an investor and if you cannot afford the risk, then a Fix Account at your local bank is your best option. [/QUOTE]
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