Reasons Why You Should Start Saving Money In A Bank
You may already have a job but you haven’t started on saving money since you don’t know when and how to start. It might be that you have many things to spend on for now because you just started earning, building and/or buying properties. But these things are not enough reasons for you to ignore saving some money.
If you think you have extra money for other things such as vices and luxuries then it is probably better to have the money saved for future use. Here are some tips on how to get started on saving money:
5 steps to get started with saving
Costs add up fast, and building your savings can seem like a pipe dream. But small changes now can yield big benefits later. Follow these basic steps to start making meaningful progress toward a brighter financial future.
1 Think one percent at a time
Resolve to put just one percent of your income into savings over the next month. By doing so, you’ll flip an important mental switch: Before, you were someone who wasn’t saving for the long term, but now you are. That’s a key difference, because it’s much easier to ramp up your savings if you’ve already formed the habit. So however modest, take the first step. See more…
If ever you get start on saving money, where would you like to put it? Will you be keeping it safe around the house or putting it in a bank? You may want to have it in your house but consider these reasons on why you should keep your money in the bank:
6 Reasons to Keep Your Money in the Bank
With all the bank failures and the volatility in the stock market, you might be tempted to take your money out of the bank and hide it in your home. In principle it sounds like a great idea. You hide your money somewhere in your home, you know it’ll be there when you need it, and you don’t have to worry about losing it because the stock market hiccupped.
The problem is that hiding money in your home is quite possibly the worst thing you could do. Here are six reasons why it’s a huge mistake.
You earn no interest and inflation will eat up your savings. The number one reason why you shouldn’t be hiding money in your house is because you earn no interest on it. See more…
I hope that after reading all these tips, you finally realized and decided on starting to save money in the bank. There are many things you could do to your savings someday. It could be a great help in the future.