Saving money

[Deleted member 403]

How do you save your money? Through a checking or bank account that offers a fixed amount of interest? Or perhaps your starting to move to the new era of crypto currencies? If so how do you have your money invested or saved? Are you saving for anything specifically?

 

[Sariana23]

I am trying to save, but not in bank accounts, I keep my money in Airtm, where with a little more capital I intend to work as a cashier and at the same time have it available in case of emergencies. If I transfer the money to the bank it will lose its value and I do not handle cryptocurrencies, from this my experience is nil.

 

[Sincerem]

When it comes saving, i prefer saving it in my crypto wallet. Cos the money appreciates with time when the crypto increases. But that's not the same with bank savings.

 

[Adventurer]

Well for me i do invest and save my money in a savings platform like binance ,so that i can get more interest i think , because most times keeping your money or saving in the bank could be lowered due to bank charges

 

[Shigobad20201]

I have came to realise that the method I used in saying my money is not the right method because I ended up loading, imagine saving money in a savings account and at the end of the day the bank always deduct alert message money and they gives no interest, so i have decided to used fixed deposit account and bitcoin mining to save my money and I have been seeing a lot of interest since I started .

 

[Kane]

I use various methods for saving. Some of the methods I use are:

Saving in interest bearing saving accounts

Saving in fixed deposit bank account

Saving as crypto currency in crypto wallets.

Once my saving accumulates to a substantial amount, I invest the money.

 

[Adventurer]

I think this are great medium to save i guess i mainly save on any platform, that will just add some few cash to my savings at least to some certain extent i think

 

[Kane]

I think this are great medium to save i guess i mainly save on any platform, that will just add some few cash to my savings at least to some certain extent i think

When it comes to saving, I trust traditional banks more than the online banks or interest bearing crypto banks. Losing your money in traditional banks is quite impossible where as online banks and crypto banks can be a scam. You should be careful about where you save.

 

[Babfash02]

I'm actually saving for investment although i have most of money save as cryptocurrency in my crypto wallet but i still have some money save in my bank account

 

[Sariana23]

When it comes to saving, I trust traditional banks more than the online banks or interest bearing crypto banks. Losing your money in traditional banks is quite impossible where as online banks and crypto banks can be a scam. You should be careful about where you save.

As you say that it is impossible to lose money in traditional banks, I want to tell you that it depends on the country. I can tell you that saving money in banks my country is a big loss, due to currency devaluation. You can have a million coins and when you go to withdraw the money it has a value of 500 or less. It is better to save money online where the capital does not devalue.

 

[kayode10]

Saving is one of the important steps in order to build wealth. But I found it a bit hard to save a portion of my income. The reason is that I am spent freak. At every sight of money, the next thing that comes to my mind is spending. And I am still find a way out of this bad habits.

 

[Sincerem]

I prefer crypto savings and investment than saving in the bank. I believe that over time my investment or savings yields to reasonable amount of money when I'm experienced on Cryptocurrency.

 

[Justin]

In order to save money, you need to earn more than what you are spending. You cannot cut your necessary spending to save.

 

[Adventurer]

In order to save money, you need to earn more than what you are spending. You cannot cut your necessary spending to save.

Exactly, I know someone who is always broke and ends up borrowing before pay day all in the name of savings

 

[Kane]

As you say that it is impossible to lose money in traditional banks, I want to tell you that it depends on the country. I can tell you that saving money in banks my country is a big loss, due to currency devaluation. You can have a million coins and when you go to withdraw the money it has a value of 500 or less. It is better to save money online where the capital does not devalue.

This is something I have never heard of. Money can get devalued, however, it is always against foreign currency like USD. Are you talking about your local currency against the USD?

 

[Sariana23]

This is something I have never heard of. Money can get devalued, however, it is always against foreign currency like USD. Are you talking about your local currency against the USD?

That's right, explaining it may be confusing and even unheard of, it is something that happens in my country nowadays. The truth is that I save in my Airtm wallet, and I change dollars to my local currency one or two hours before buying or paying for what I need.

 

[Sincerem]

That's right, explaining it may be confusing and even unheard of, it is something that happens in my country nowadays. The truth is that I save in my Airtm wallet, and I change dollars to my local currency one or two hours before buying or paying for what I need.

That's nice you save money via airtm before transferring to your local currency. I believe USD have high value than your local currency, and that will make the bucks you make online to be valuable in your own country's currency.

 

[ben amor sondes]

That's nice you save money via airtm before transferring to your local currency. I believe USD have high value than your local currency, and that will make the bucks you make online to be valuable in your own country's currency.

AirTM is not like Skrill as Skrill provides account currency in local currency to know earning and spends as local currency airtm provides USD and equivalant to local currency and when paying a merchant or with credit card they does not show equivalant what you spend in local currency.

 

[Sincerem]

AirTM is not like Skrill as Skrill provides account currency in local currency to know earning and spends as local currency airtm provides USD and equivalant to local currency and when paying a merchant or with credit card they does not show equivalant what you spend in local currency.

I never used airtm before for transactions. I have a skrill account, i believe skrill display account balance in USD equivalent to the person's local currency

 

[Justin]

Voluntary saving does not happen for a lot of people, saving will work only when you do mandatory saving.