Why does saving money in the bank important

[Mastergp]

In the past, people have different way of saving their money, some hide their money in the ground while other give it to close relative but as years keep changing ways of saving becomes lucrative, the bank has being the present means in which one could save his money it has become secure and hard to penetrate because of high level of security fix at different position in order to product valuable items that are saved in the bank.
Even till today many people save their money in the house and most people buried their many in the ground and this have lead to lost because most people die off without telling close friends or relatives about the money they buried and as a result such money might either be found buy someone else or at time it might not be found. But if such money are being save in the bank a family members might serve as next of kin's if the owner no longer exist.
Many who save money at home have also face lost because they might be rob at home leading to lost of life and property.
Most times when one is in need of money he could collect loan from the bank and build his business but this fact are not possible through other alternative use to save our money there give either long term loan and short term it left for the borrower to decide.

 

[Carpon]

I think of two good reasons why saving in the bank is important.
1. Security: if you save in the bank you will be less prone to the tendency of getting your money stolen and getting robbed.
Moreso, security is also guaranteed from rodents who are fond of doing harm to stored money. You could keep your money under your bed and later discover that some stupid rats have found their way to it and eaten up some part of it making it unacceptable in the market. But once kept in the bank these tendencies are reduced.

2. It reduces the rate at which you spend. If the cash is near you all the time, you may be getting tempted to spend it at many times and even purchase some irrelevant stuff when it is near you. But once it is in the bank and needs be withrawn first, it will reduce the rate if unnecessary spendings.

 

[Heartstrings]

Saving money in the bank is important because of security reasons. Well we know armed robbers can also rob the bank and we loose our saved up money which rarery happens but nevertheless the bank is still an important and secure place. If we don't save money we will end up spending it. Majority of business people save up in the bank because it is one of the savest place.

Saving money at home and not in the bank might be a bit risky,it may get stolen or you end up loosing it to armed robbers. Infact you may end up making use of it yourself to solve one problem or the other. Saving up money at home is not well secured unlike saving up in the bank,when you save up in the bank there is this peace of mind you have, knowing your money is secured,even if it's millions of naira.

 

[Sotherefore]

Saving money in the bank is very important , but at the same time so many people may not see it that way . A lot of people even when there is modernization will still prefer to save their money in their house. In as much as everyone have the right to do whatever they want, but we still need to understand that saving money in the house could be dangerous in situations that if natural disaster arises we could easily lose our money.

I choose to save some of my money in the bank most especially money I will not need urgently, sometimes I also invest in cryptocurrency. In cryptocurrency I mostly prefer to save my money in stable coins because stablecoin is much more better and is less volatile than other cryptocurrency.

The main reason why I am saving money in stable currency is to maintain the value of my currency.