Saving Money

Discussion in Personal Finance started by ACEP • Sep 18, 2017.

  1. ACEP

    ACEPMember

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    Many of us wants to save money for the future. But what do you think is the best thing to save? To save money at home or to save in a bank?
     
  2. nangk08

    nangk08Active Member

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    Obviously, it is wise to save money in the bank. If you keep money at home, there is always a chance of it being spent and also there is a threat of robbery. Also, you do not get anything out of it but if you put it in a bank, you will get an interest on it and it is much safer.
     
  3. overcast

    overcastActive Member

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    I think both. You have to save some money through physical assets in bank. And save some money in the home too. And also invest into things like car, land and other things. That way you can easily manage the funds. I have seen that saving money is going to be harder for many people. And in such case they have to invest into some assets and then make money off that. I noticed that if this is done then future profits are being taken care of as well.
     
  4. Shine_Spirit

    Shine_SpiritActive Member

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    I think this is a rather obvious choice: I always keep my money in the bank for the security that the institution offers fot their clients. What would be the purpose of saving money at home? :rolleyes:
     
  5. mildredtabitha

    mildredtabithaActive Member

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    Saving in the bank is better. :)

    You won't have to experience any temptations to misuse the money. You might be very disciplined in saving but you stand the risk of losing your money if you save it at home. Your money will be much safer in a bank.
     
  6. Jamille

    JamilleActive Member

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    If you want your money to grow a bit, you will obviously prefer to keep it in a bank where it will be safer and not readily accessible for impulse buying sprees and where it can earn a little interest. Having money at home for emergencies is a necessity, but you can't keep all your money at home where you run a bigger risk of losing them. When saved in a bank, your money is insured up to a certain amount fixed by your country's monetary agency. When you have enough money saved, you can start investing some of your savings in securities which can generate bigger earnings than regular savings accounts.
     
  7. walter12

    walter12Active Member

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    I agree, i don't see the point of why do people feel that it would be better to not save their money in a bank since it's the safest.
     
  8. lucykey

    lucykeyMember

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    Saving money in the bank would the best option for me. By doing this I avoid the risk of misusing it but when it is in the bank it tends to motivate to save more and I have set my own target to withdraw after I have made certain saving. Money in the bank also ensures the safety of your savings.
     
  9. Vinicius Souza

    Vinicius SouzaMember

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    I don't have doubts that it is better save money in a bank than home, because you can invest in a bank, consequently you can protect your money from inflation. Moreover, keeping your money at home, it is dangerous because someone can invade your home and stole your money.