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.

 

[Kross]

I am leaning towards saving in assets now. There, the savings can grow more rapidly than in the bank.

 

[eLdavis]

I have saved in digital assets before but at the moment I am just saving in cash and in my bank account.

 

[Suba]

I have no intention of saving in cash either in savings or deposits, the interest is very small and is eroded by inflation, so I prefer to save in the form of crypto and stocks.

 

[King Belieal]

I have no intention of saving in cash either in savings or deposits, the interest is very small and is eroded by inflation, so I prefer to save in the form of crypto and stocks.

Same with me. I would rather save my money on crypto or gold. Banks would be giving 3% interests per annum which is very little.

 

[Starmix]

I save the profit of my business in the bank. That is the purpose of banking money not to stay away from our hands. I also invested and engaged with offline and online businesses.

 

[Nomad]

I keep my savings in bank, and when my savings grow, I convert it to assets, mostly stocks and crypto.

 

[Starmix]

I keep my savings in bank, and when my savings grow, I convert it to assets, mostly stocks and crypto.

That is the best idea money to save in the bank and not keeping it at home it is not safe especially if it's not yet sufficient to buy an asset. Saving some amount of our earnings is essential.

 

[freelancermaria]

When I discovered the beauty of digital banks, I decided to start saving money with them. I even transferred some funds from my traditional bank to earn daily interest. However, it's vital to be careful when using digital banks. Remember not to put all your eggs in one basket.

 

[Augusta]

For more I'm just saving it in the bank but I'm hoping that I can convert it to assets very soon