What saving method do you prefer using to save your funds??

[sincerem]

Their are different ways to save money both online and offline, it depends on individuals preference. Their are people that prefer saving money in the bank fixed deposit section to get recurring annual interest for depositing their funds. Why some people love saving their funds via Cryptocurrency. Cos they believe its the best possible avenue to grow their money and bring them profit as time goes. While others don't prefer either saving via bank or Cryptocurrency. They prefer given their money out to trusted money collectors, so they won't tamper with their funds till certain duration of time they agreed with the collector to take their money.

Which saving method do you prefer saving your money for the time being??

 

[Rachael]

There are different methods of savings, which is both digital and the analog way. Personally, I prefer saving my money in the bank although the bank involve themselves in frequent deductions of their customers money all in the pretext of outrageous charges. I also prefer the archaic way of saving by using my piggy bank, where I deposit my money but this method is best for someone who is highly discipline around the sight of money. There is also a site known as piggyvest and I saved some funds there too, although it is secured but I still have this skepticism that funds might not be 100% secured forever.

 

[Alexandoy]

My lifetime savings is in the bank even if the interest rate of the bank is very low. I trust the banks here particularly my bank which is the biggest bank in our country. I have peace of mind that all my money are in that bank because I feel safe and secured. However, I am checking on the stocks for purposes of investment so that my money is not all in one place. The stocks look good but not now, not yet because the price in the market is still going higher. That is good for my present shares of stocks which is worth $20,000 but I want to put in more money in stocks like maybe $100,000 worth. My intention to invest the money is to have a shield against inflation. I know that in 5 to 10 years the value of my money in the bank will diminish to 90% or even lower depending on the economy of our country.

 

[Kendy]

My savings is deposited in one of the public banks and I do not find it very favourable due to frequent deductions from the account especially every month and when I deposit money into the account, I get deductions for Federal Government stamp duty charges. There are different ways of savings but I still prefer saving in banks despite the deductions because I find it to be more secured and if anything goes amiss the public can always join their voices and hold the public banks accountable. When I started out saving at first, I used an app online but it happened that unfortunately the app was not legitimate and it did not care for the welfare of its customers, the site has crashed when no one had least expected and there is no one you can sue in the court of law because the funds had no legal backing and the owner of the app is not known to the public.

Savings is intentional and not everyone supports it as some might see it as illogical when there are other alternatives where you can make your money grow which is majorly by investing but the challenge is that investment is not 100% secured.

 

[Shaf]

Saving money in the bank is still the best alternative for me. I do prefer to diversify though and any item which I can purchase and resell for a higher price get my attention. I like cryptocurrency too, so I save some money there while trading it. The volatility is high and there's risk that I can lose the money, but I've learnt to minimize the risk by setting lower profits targets for myself on a weekly basis.

Sometimes, people lose money in their banks of their credit cards or bank details are stolen. Even when such issues are reported to the bank, they still do nothing about it and that's one reason I'm not willing to save a lot of money there.

I am also looking at investing in real estate or buying gold to keep as long term assets. These things have values that have risen sharply in the last ten years while inflation is raging and affecting all currencies.

 

[Mika]

I try to save as much as I can. I put my savings in normal saving bank accounts. After some time, in 6-12 months, when my saving grows, I save my money on fixed deposit bank accounts for the term of 1 year. The interest rates are higher in fixed deposit accounts. I continue to save my money using this method. My emergency funds and retirement funds are in my fixed-deposit bank accounts. Funds are locked in fixed deposit accounts but if I want money immediately, I can get a loan against my fixed deposit balance, therefore, I do not have to worry about my finances. However, not all of my funds are in fixed-deposit bank accounts, I also have investments in stocks. Some of my savings are used to make an investment. I also have crypto savings., When I receive crypto payments, I save crypto. I have some savings in over a dozen crypto assets.

 

[Ithedicious]

For now most of my savings are in the bank and I always choose to save my money in the bank because it is much more secured , but I am actually thinking because savings of money in the bank nowadays is just like a waste because our economy is going down and the value of our money is depreciating .

If there is a way I can be saving my money in the US dollars I think that will be the most preferred way currently as the rate of u.s. dollars is increasing I would have also gain interest in my savings.

Cryptocurrency will be the best and even if I have to invest in cryptocurrency it will mostly be on the stablecoin such as the usdt or busd depending on the most trusted one, I cannot invest in volatile Coins for now except with a spare cash which I do not have currently.

 

[Rubz]

Well, i currently use two saving methods which are saving in a bank and saving at home in my piggy bank. My main saving method is saving in a bank though. I maje use of the savings account so i can easily access my money when the need arise unlike a fixed deposit account. I only save in my piggy bank at home if it is a small amount of money and in case i need an urgent amount of money and i'm not able to go to the bank. Sometimes i get scared that my money might be stolen from my piggy bank because i'm currently a student and i don't like alone. I live in a hostel with other students. This is one of the reasons my main saving method is saving in a bank.

 

[saoussen5765]

Well, i currently use two saving methods which are saving in a bank and saving at home in my piggy bank. My main saving method is saving in a bank though. I maje use of the savings account so i can easily access my money when the need arise unlike a fixed deposit account. I only save in my piggy bank at home if it is a small amount of money and in case i need an urgent amount of money and i'm not able to go to the bank. Sometimes i get scared that my money might be stolen from my piggy bank because i'm currently a student and i don't like alone. I live in a hostel with other students. This is one of the reasons my main saving method is saving in a bank.

To be frank I have heard that sometimes even banks could stole people money, and this is not common but this is something that comes from time to time if there is stoler agent, but the bank may refund you later if this is proven.

 

[Miki1]

Till date the banking method still remains the safest way to save money. I prefer fix deposit that will generate interest . If you save with a bank, you're 100% sure your money is safe

 

[Johnson2468]

Presently the banking method is still the safest method to save money. I use the fixed deposit so you it generate interest as time goes on and also be ensure of safety