Post
Topic
Board Economics
Re: Save money today so money would save you tomorrow.
by
Bloodseekers
on 18/02/2024, 12:47:51 UTC
As a matter of fact, it is not advisable to save a large amount in the bank unless the purpose of your depositing money in them is savings & investment type. The interest you get from the money you put in the bank is very low, so it's okay to save there if it's for an emergency fund or monthly expenses. It's even better if you can find an investment with a good return and can double up your initial money that you've invest, you can take a risk for that.

It's true, it's true that we shouldn't keep the money we have in the bank and if the purpose of saving is to invest, of course this will be better and this will really benefit us when the investment goes well. Yes, if we save the money we have in the bank, of course it won't. profitable for us because the interest given is very little and is not very profitable for us and the bank which receives more profits.

Investing will really benefit us for the future, but if we don't understand investment well and how to make a profit from that investment, it would be better for us to learn first so that we don't experience difficulties when entering into that investment.