Quote from: Pejoh Asu on March 19, 2023, 01:50:18 PM

Quote from: Cryptodebjoe on March 19, 2023, 01:37:43 PM

Savings is an old practice that has today evolved into investment by a lot of people this is so because money saved in the bank is definitely used by the bank to trade and do some transactions with it so it's better to always invest instead of savings the money

In my country currently only get 5% interest per year, while the government reports that inflation is more than 5%, of course we save money in the bank but don't get anything, a few days ago I got an offer to add to the bank's balance and then held by the bank for up to a year and rewarded with suitcases, bags, bicycles and so on depending on the value we will keep and hold in banks for up to a year.

5% interest per year is really good compared to cases in many countries, which can offset the inflation of 5% more or less. I never compare savings with investment because savings needs to be safe and provides a sense of psychological security. I don't really mind the term deposit for a year or two, as long as it is safely deposited in a reliable bank.