Why your money may not be helping you whilst in the bank
Why your money may not be helping you whilst in the bank
It really never comes into my mind why I should work for a month endlessly and when I get my salary rush it to the bank or if it is directly deposited in my account let it accumulate each month at a very low rate. Or why should you work for a whole year so tirelessly and in the beginning of the next year, your financial achievements are much worse than the previous year. In short, you are either loosing your money or you are working to fill in gaps that will never get filled. Once you save your money in a bank, your money assumes an inactive state. It is neither generating you any interest nor is it contributing to any of the investment plans that you so long to get started. I really hate accepting that the only visible thing that happens with my money in the bank is the fee deducted every time I withdraw it through an automatic machine. Did you know depending on the type of bank account you open, you automatically dictate the rate of interest your money will earn? Once you save your money in your account, hardly any interest is earned. I wish I knew this before I opened my bank account. Sure there is somewhere else you can take your money and earn high interests, benefits depending on the amount you put in. Your money could even earn you a cover if you just get the right company to invest it. Most of the disappointments I get whilst my money is in the bank are the strong urge I have to use it. No matter the extent of necessity it may be, I get myself to blame when I miss a ticket to watch my favorite football match just because I spent my money and I have no one to blame. Aaargh! This is something I can not live with or forgive myself at times. It may have happened to you once may be. Temptation I may call it. It could lure you to early bankruptcy. If only you could save and invest your money in the right place, then you could get cash benefits which you could use and still have the big investment still running. I hate to accept am not more worth financially than what I have in my bank account. This could be a really silly way to value myself but it is the truth. A large percentage of people will value their success by the amount of savings they have in their bank accounts. Oh please! This is a merge that could make you think all is well not until a serious need that requires your financing comes in. You could be certain that you are worth a value if you invested your money where you are sure to get high interests, benefits and at the end be able to clear your mortgage or start a new business with the lumps sum that comes at the end of the maturity period. Every time I pass along side the bank I trust with my money, I feel that it is not really with the right hands. What if I placed my money with financial experts who would advise me more on wealth management? I would be guaranteed that my money lies in the right place and it is doing something that I can account for later. What if my money could be invested for a period of five years and earn me a huge lump of sum and even bonus cash payments before the five years are over? See, you may be loosing more money while your savings it in the bank and not with the right investing company.