Banks Won't Make You Rich - page 11.

7Dyoknga5

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Quote from: ammobile69 on April 21, 2018, 08:53:59 AM

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies. Lips sealed

Banks are just for keep your money safe! Tongue

You can actually earn with what they call time deposit. But it takes too much time and need big amount of money.

Banks can also make authentication process before approving transactions which makes it more secure.

Bank could lend you money for you to invest in business that you could maybe consider as a help. But still with this process they require collaterals before approving your loan.

So i guess banks doesn't really make you rich Grin

gharjas2517

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I think the best function of the bank now is to provide you with a place to keep cash, we have to understand that the banking industry is also a service industry, they are to gain profit. Banks usually pay you very little interest, and then lend the money you put in the bank to someone else for a very high interest rate.

BitProNews

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The question should be adjusted for a fundamental question: Should saving money in backs make you rich??
Three major points came into my mind when asking this question:
- Saving is a great practice and should be encouraged, but you have to first understand that by only saving, you are losing battle after battle, and becoming poorer in the process.
- Ordinary people chase trends and spend thousands of dollars if not more, to be “cool”. Wealthy people invest through properties, commodities, or the stock exchange.
- You have to look at money for what it truly is; a medium of exchange. Real wealth is not having as much money as possible. Real wealth building is having as many assets as possible. Your aim should be to acquire assets, to invest, and to increase your overall cash flow.

parlament9

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In the beginning it is necessary to understand how much money do you have.
Of course if you have 100$ there is no sense to keep money in bank AT THE SAME TIME THOUGH TO EARN, (only if you don't want to spend them on not the necessary pieces).
But if you have a lot of money (in several thousands of times above the average salary about the country), in my country average interest rate on a contribution 7-8% (in central bank), but if it is private bank, then it is possible to put money for 2 years under 12 percent.
Of course it is possible to find where to invest (the same cryptocurrency, but here it is necessary though a little to understand) with higher passive earnings, but without applying any special efforts, 12% of 100000$ a year - very good sum (in average 12000$ in year), in my opinion,
and in 2 years there will be such also no terrifying inflation.
Banks suit those at whom, who have a lot of money, but not to average income.

theblack_cat

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Yes,you are right.
banks will not make rich but banks can make our money safe.
but now a lot of crime in the bank either from the theft of the balance in the account or ATM withdrawal.
after we complain the bank is not responsible for it.
very unfortunate.
if I have a lot of money maybe I will not be saving in the bank with a big nominal, I better invest in bitcoin a clear advantage.

Colt81

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Quote from: ammobile69 on April 21, 2018, 08:53:59 AM

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies. Lips sealed

Banks are just for keep your money safe! Tongue

Your opinion and conclusion about banks are just uniquely right just to brighten up the minds of those people who thinks that they can have a better life in banks for the reason that they think that banks can make them rich. That was a mere misconception because banks do not certainly do such thing as making its customers and investors to be rich because in the end of the day, banks are really just mindful of expanding their capacities on business world since they are partially using your money for business purposes that is why there is an increase interest rate that have been put up into your initial money that you have put into it. Are you mindful that with that small interest, you can be rich? Then its a no because it is somehow to be considered as a payback for your help given into them to maximize their business capabilities and they are focusing into giving you services not to make you rich.

talenah kotang

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Of course the bank will not make us become rich, because the function of the bank just to save our money. Banks can also be a land for investment although fortunately not how big.

Crypto24hrs

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If you say banks can make me rich the big question now is how rich are bank staff? last time i check my sister who works in a bank is been paid #70,000 fore a whole month and is still leaving in a rented apartment is that what you call rich.the bank owners can only enrich themselves.

hashshashin

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Look ARROUND!

I also believe that banks act only in their own interests and not in the interests of customers, and they use your money when you put them there. If we take bitcoin, then it's a decentralized system, in which everything is transparent and understandable.

Financial Freedom 4U

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Banks cannot even make themselves rich anymore and are about to fail one by one in the not so distant future.

Deutsche Bank, the biggest Investment Bank worldwide is struggling to make yields and fired 300 US based investment bankers.
Meanwhile Binance shared their recent profits and guess what, Binance is making more profits than Deutsche Bank.

Think about how long Deutsche Bank is in Business and how many thousands of employees they have.
And then they get overtaken by a small exchange that only does Crypto and is around since about 1 year.

Wake up, the endgame has already begun.

sulendra12

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Quote from: Google+ on May 03, 2018, 02:35:40 AM

according to my vision if anyone who tries hard to ban the bitcoin I think is a person who does not want you to become rich,

Really? They don't ban Bitcoin for such silly reasons and also it doesn't make sense to government. They want to protect their costumers and their peoples so they won't suffer with Bitcoin volatile instead of blocking you to earn money. They don't think like what you said.

Quote from: Google+ on May 03, 2018, 02:35:40 AM

and I see the bank also seems to ban the circulation of bitcoin because they are very scared if they lose some of their customers.

Bank have made lots of money lol, what the hell they even trying to ban Bitcoin.

cluit

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Quote from: baconlike on April 28, 2018, 03:57:23 AM

Surely the bank can not make us rich. The interest paid by the bank for us to send monthly can be called support interval. So that's not much money, not enough for you to spend in life speak of wealth. Can only invest in the Crypto market to get rich.

Banks are not exactly for us rather they are doing their own business and in the world of business, nobody really cares about anything other than his own benefits. That makes sense too. Banks feed on our money. They utilize it in certain investments and then get profit from them.At most, these will give us a very small portion from what they get. Simple as that.

Google+

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according to my vision if anyone who tries hard to ban the bitcoin I think is a person who does not want you to become rich, and I see the bank also seems to ban the circulation of bitcoin because they are very scared if they lose some of their customers.

lokanot0

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First, let us define what a Bank is; "A bank is a financial institution licensed to receive deposits and make loans." It is there to make your money safe, not to make you rich with its interest. Well, if want to receive much money through its interest, then you should deposit a very large amount of money.

Opekin

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Quote from: paparexon0414 on May 02, 2018, 10:17:37 PM

Got your point, but people nowadays are not thinking that bank will make you rich. Its main purpose is to keep your money safe, make some third party transaction, helps you pay bills and purchases online and give them some money for their services they offered. Bank is also a business, it need to gain income for the employees and for the owner. They are the one who are getting rich day by day. I dont know if all the banks have hidden charges but i am sure most of them have. They just slowly sucking money out of us that is undetectable. But still, banks are very useful if you really have a big money and afraid of keeping it at home.

You got it all, as the banks doesn't let you become rich just by putting your money on it. A bank isn't an investment who uses their services but rather they are the only who make profit to us, If we notice not that making deposits will make them earn. the interest is on outgoing transaction if you are aware how much the amount deduction on every withdrawals that we are use to do. another is the maintaining balance that we need to keep to make our account active.

frankybutterin

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Of course the bank will not make us rich. It is precisely us who make banks become rich because they earn a profit from our velocity of money. Banks only keep money and where people borrow money. Although we have a lot of money then we keep it in the bank will not make us get rich quick because the interest given the bank for a little. Whereas if we borrow money they give a high interest. It's better to invest in bitcoin than to keep it in the bank.

paparexon0414

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Got your point, but people nowadays are not thinking that bank will make you rich. Its main purpose is to keep your money safe, make some third party transaction, helps you pay bills and purchases online and give them some money for their services they offered. Bank is also a business, it need to gain income for the employees and for the owner. They are the one who are getting rich day by day. I dont know if all the banks have hidden charges but i am sure most of them have. They just slowly sucking money out of us that is undetectable. But still, banks are very useful if you really have a big money and afraid of keeping it at home.

genocide

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Quote from: ammobile69 on April 21, 2018, 08:53:59 AM

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies. Lips sealed

Banks are just for keep your money safe! Tongue

Yes, banks won't make you rich. It is one way of securing your money for you to be safe instead of having your money at home. Saving money at home makes your family to be in danger that's why we have to deposit the money in a bank.

MiukoOk

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If you choose to invest in a bank is only a safe solution. Do not worry about losing money but little profit. So if you are a risk taker, you will win big and lose big in this Crypto market.

Barbatsutsa

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Well, they won't, yes, but they acutally can help you to save your money effectively.

Topic: Banks Won't Make You Rich - page 11. (Read 1782 times)