Do you save in cash, in the bank or in assets?

[riberet19]

I haven't saved in cash or banks for a long time, I save everything in physical assets, such as silver coins, and digital assets such as digital gold, Bitcoin among others, I don't like to save in fiat money due to high inflation and I prefer to have my money saved or invested in assets, and even less to have it in the bank...

 

[Fidelia]

I don't think anyone still saves money in cash. It is not safe. I keep my savings in my bank account. That's far safer for me.

 

[Springtime]

I just have a few thousand dollars of cash in my household in case I need to repair something because the repairman just accepts cash. Otherwise, I put my money in banks. I also buy stocks, mutual funds and bonds.

 

[Starmix]

I save money in three banks. I want to have my money safe from risks. Despite banks give peanut interest at least it's there safe. I will invest it once I find the right investment.

 

[riberet19]

I save money in three banks. I want to have my money safe from risks. Despite banks give peanut interest at least it's there safe. I will invest it once I find the right investment.

What is the inflation rate in your country?

 

[Starmix]

What is the inflation rate in your country?

The latest information inflation rate in the Philippines is 3%. The other month 2%. The government informed the people that my country earned additional 6.5 % increased of our economy this month.

 

[riberet19]

The latest information inflation rate in the Philippines is 3%. The other month 2%. The government informed the people that my country earned additional 6.5 % increased of our economy this month.

I understand, if inflation is very high, having the money in the bank is not risk-free either, but hey, that inflation is controllable if your bank rewards you with some interest.

 

[Starmix]

I understand, if inflation is very high, having the money in the bank is not risk-free either, but hey, that inflation is controllable if your bank rewards you with some interest.

The banks seldom give a handsome interest to depositors even if it is a time deposit. However our money is intact there regardless of a peanut interest.

 

[riberet19]

I'm not a fan of leaving my money in banks because they use it themselves to make their own profits, but everyone has their own vision, I prefer to invest my money, but of course I'm a born risk taker.