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Nairaland Forum / Nairaland / General / Business / Why You Shouldnt Save Money In Banks Or Savings (217 Views)
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Why You Shouldnt Save Money In Banks Or Savings by LeviteImmanuel(m): 7:20am On Mar 17, 2021 |
This looks funny but true, Rich and wealthy people don't keep money in bank, in fact their net worth are estimations of the assets that they have accumulated and it yields them profits on yearly basis, when you hear someone worth a billion dollar, its not actually money in the bank but the assets he has are growing and the net profits estimations are rising in value making them more wealthier. So these are the reasons why you don't keep money in the banks, anytime you trade something for money it reduces its value and anytime you keep money in the bank the value is reducing and the chances of you getting wealthy is depreciating. When you turn some valuable things into money, you loose some of the transactions which is called Slippage or Hidden fees. People don't get wealthy by trying to keep money in the bank or save money in a safe box, Money has a hole in owners pocket, if you keep your value in money inflation alone and volatility will take your value away Keeping your value in money is not a wise thing to do In the Next article we discuss what and where we should put our money when we remove it from the bank or savings |
Re: Why You Shouldnt Save Money In Banks Or Savings by SanctifiedSista(f): 7:40am On Mar 17, 2021 |
Save in bank if u don't want risk. If u are a go getter, enter BtC, farm4me and other ones u have researched on |
Re: Why You Shouldnt Save Money In Banks Or Savings by LeviteImmanuel(m): 7:50am On Mar 17, 2021 |
Banks dont increase your value. put your money to work, leaving it in banks is not a great idea |
Re: Why You Shouldnt Save Money In Banks Or Savings by Okadall: 7:26pm On Mar 31, 2021 |
LeviteImmanuel: I think we share some school of thought I will like us to discuss more if possible 1 Like 1 Share |
Re: Why You Shouldnt Save Money In Banks Or Savings by LeviteImmanuel(m): 12:09pm On Apr 02, 2021 |
Lets discuss on telegram @Thafxpablo |
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