Banks Won't Make You Rich - page 24.

eneifed

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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

It is still interesting how the majority are happy with bank deposits only. Leave crypto, a small business like a general store can give 10% daily returns in my opinion.

lelangsabun

newbie

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I should agree with that banks especialy want to make a profit too by providing a loan with high intrest to people and thats how the bank money comes it from people

Whitly

sr. member

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Quote from: f150 on April 21, 2018, 11:14:07 AM

the bank just to save your money and for security you have to pay a fee to the bank, so how can it be rich if saving money in the bank. invest better if you want to be rich because your money will increase, will not decrease as it keeps your money in investment. unlike in the bank that charges you.

I can't agree with that, because it's not always secure to hold money in the bank, if talk about large amounts, because of many situations in past when banks had troubles and people who were holding there large amounts of money, lost them. Also about deposits, in my country interest per year around ~15%, but because of the unstable price of the national currency, after year, your profit will be eaten by inflation.

BLACK LEG

newbie

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that's true, the bank only gives us a little profit and even that is too little if we see the money we save there, the bank only offers us security, unlike the crypto that gives us a lot of benefits but crypto has big risk and we should know that is before doing the investment

ivanst776

legendary

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Bank will never make any people rich,
people made them rich though.
There are so many incidents that my friend lose some amount on his bank account.
There is so many money on that account and he just received some coins on incentives.
Bank are made for those who are rich and elites.

ayiaye

jr. member

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banks will not make rich it is true. because in the bank we only save money to be safe, not to invest. different if we invest in bitcoin, it's big hope to be rich. Why? because bitcoin prices are never stable and often soaring, and this is very profitable if we can invest in bitcoin.
banks are only state institutions manage money to achieve the country's economic stability, preferably if you want to invest better in bitcoin alone.

markj113

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Quote from: bamboylee on April 21, 2018, 09:01:20 AM

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

It is not suppose to make you rich anyway, it is made to keep your money safe. If you want to get rich, start a business and a passive income. Anything that makes you money even with minimal time spent can make you more money that keeping it in a bank. That is why it is always advised to put money on investments like stocks, mutual funds, assets and in here, bitcoin and altcoins.

Are banks safe?

They didn't seem so safe in Cyprus when they froze deposits then performed a haircut and stole everyone's money.

How many banks have failed and required a state bailed to prevent complete disaster, who is to say if the state would be willing or able to bail them out next time especially if several fail simultaneously?

The law has changed in many countries where you are now classed as an investor in a bank when you deposit funds and the money is officially now theirs not yours should something go tits up again.

misterj

full member

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In my opinion and based on the books I have red about financial, banks are not used by the rich people to make them rich but they only used it as a storage and as far as I know they would pull out their money out to invest it instead of waiting for the interest given by the banks.

Tigorss

member

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if you think that by saving money in the Bank becomes your way to achieve wealth, then you are wrong. This is why most Americans never again become rich, while wealthy people who own assets are increasingly prosperous.

musdafakfl

member

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I absolutely agree that the banks will never make our customers rich. In addition to low interest rates, he has also recovered the money he has earned, as well as the usual handling costs and other similar expenses. For that reason, it would be much more logical and correct to evaluate the money by investing instead of keeping it in the bank.

thecoder2017

member

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Yes i agree with that even when you invest your money with them it doesn't make you rich your money will gain only a small profit compared when you invest with crypto when your wise enough to look for a good project you can have a big profit and it will double your money.

kwarto

newbie

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i totally agree on above comment. putting your money to bank is merely saving your money for future use... the bank owners are the one get more richer because of your money... bank uses the deposit money to their advantage.. they provide loans with a very high interest rate making them millions of earning out of the deposit money...

labs0918

member

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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

Yeah you've got it. I am very much agree with you. Bank is only a money keeper. It will not make you rich even you deposit a big amount. And sometimes and some banks are not safe.

Ridwan Fauzi

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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

Nothing can be rich if we dealings with a banks, banks just make us miserable with the policies they have. I don't like banks for lending money with interest, every person who borrows to the bank will always increase if it is late to pay. Unlike if we keep money in the bank, our money will be used by them to lend to someone else and they will get profit while we get nothing from it. Banks are a sneaky way to profit, cryptocurrency and blockchain is very feasible to replace bank.

horrifiedx1

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Quote from: kaizie on April 22, 2018, 07:29:11 AM

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're not really get to be rich because of the saving into a bank, because the bank serves you just to keep your savings for it to be safe. If you really want to get rich start your own business or do some investment in cryptocurrency.

indeed inflation is not comparable as bank interest, because bank is not as an investment tool and seek profit, but bank do service to overcome the funding with various promotions they offer

lzby2000

full member

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I really agree with you. It's true that you can't get more loans from banks unless you have enough collateral or securities. And your money in a bank can never exceed the inflation rate in your country. We should remember that banks are just a service organization. They are not charities. They only benefit the government and themselves.

yndye

sr. member

Activity: 616

Merit: 262

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

Banks are not meant for making you rich but for you to keep your money safe. It is only in the information age today that it has open our eyes to the possibility that we can earn more when we invest in other investment vehicles that has higher returns than inflation so that we can grow our money. Before, I thought savings is the way for me to be rich but then when I realized the interest rates given by banks, I started to find other alternative investments that can help me in achieving my goals which is investing in cryptocurrencies, stocks, mutual funds and other investment funds.

Marrionbitcoin

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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

Here in the Philippines, banks have so small interest rates less the tax and I really feel bad about it. I am so thankful that Bitcoin is already there and really a game changer that can make our lives better and easier. It helps me to earn extra income by trading in digital currency world. And until now, I am hoping that Bitcoin will rise up the price too soon. So, I need to be more patient for that to happen.

kaizie

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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're not really get to be rich because of the saving into a bank, because the bank serves you just to keep your savings for it to be safe. If you really want to get rich start your own business or do some investment in cryptocurrency.

boblets243

newbie

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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

I totally agree on this that savings in the bank won't make us rich. The value of our money today won't have the same value in the next 10 years. This is due to inflation. So to fight inflation, the best thing to do is to invest. There are a lot of options where to invest. We can invest in a bank, make our own business or invest in crypto. If we wanted to be rich or to achieve financial freedom, one important thing to do is to invest. So good luck to us.

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