When it comes to money, it's a term everyone understands regardless of the language, any one can spend money, but not everyone understands the true concept of money and how to make it work for them, though some people believe that just saving a portion of their income will make them rich, well yes, but to an extent, and it won't give you the best you can get of your money or even close.
Money as we know is generally used as an exchange for goods and services, or is an economic medium of exchange being a commodity accepted by the general public or an economy, it is also regarded as a measure of wealth, as well as grants ease of trade.
Mind you, take for instance an average salary earner who has worked for a couple of years, then retires at the stage of retirement with some grutuity or pension, though some are paid all at once while some are paid monthly after retirement, and this payment stops immediately after death of the retiree,besides and I recently found out that for the retirees paid monthly, the males are paid slightly hire than the females because it is believed by science that woman live longer than men, I honestly felt sad and terrified when I saw that.
Also bear in mind that for an average earner who retires and was given his/her pension money all at once, there a high possibility of these individual living longer than expected, and his/her money kept in the bank becomes exhausted from daily usage and also pending on the lifestyle of that individual.
Now asides being born with a silver spoon or being in a top governmental appointment, how long to you think it will take for an average retiree to exhaust his/her funds? Now that's a major questions to be worried about, and believe me just daily spending from your pension money given to you at once which you kept at the bank, is like eating up all your seeds instead of planting them, because, just saving your money in the bank will only.
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Sadly in the United states interest gotten in a month for a savings account is 0.006%, trust me is almost as good as saving my cash at home instead, just kidding, but it s basically pointless savings a huge amount in the bank for a few years and get nothing reasonable as an interest, knowing fully well that banks does businesses and make profit with people money too, and this is a win for them only.
Now instead of just leaving all your money in the bank, try some investment, and there are several types you could indulge in that will just keep making your money work for you, you could venture into real estates, you could try Forex trading, even invest in cryptocurrencies, you could also exchange and trade foreign currencies too with proper information on the market, they're are lots of interesting things to invest on that will make your money keep growing and yielding much reasonable interest for rather than leaving it at the bank, and though there are lots of fraudulent investment schemes out there, but ensure to properly and painstakingly do your research for the right ones.
I ain't saying saving your money at the bank is a bad idea, but why not try to invest some part of it and make yourselves more profit instead.
I would conclude with this, you can not become richer by just saving all your money in the bank, break out from your comfort, and try to multiply your earnings on the best way possible. Cheers
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