Would you rather saving your money in bank with 0% interest or something else

United States
January 7, 2010 8:54pm CST
As you all knew keeping your money in the saving account won't earn you much potential income, because the interest rate is close to nil, 0%. It is seems like our government want us to spend the money to help out the economy rather want us to keeping it. Would you use your money on something else, or rather keeping it in your saving account. For example, invest in something to earn a higher return.
2 people like this
5 responses
@mensab (4200)
• Philippines
8 Jan 10
aside from avoiding to spend the money if we keep it in a bank, one objective of keeping it there is to make some earnings. as we all know, benjamin franklin reminded us of time being money too. banks are using our money for their investments. if we keep it there for some time, then banks should give dividends for our decision to keep it there. it is true that savings account in banks give very dismal interest. don't give away your money, keep it where it will have some decent earnings. goodluck!
• United States
8 Jan 10
I understand the concept too. I would like to keep some of emergency saving in the bank, and at the same time, I would like to find a profitable way to make my money most of it. That is what I meant here. I won't mind a little investment involve with minimal risk.
@CJscott (4187)
• Portage La Prairie, Manitoba
8 Jun 10
I would rather invest it into personal development, MLM, or Real Estates then not earn interest on surplus money.
@srganesh (6339)
• India
11 Jan 10
It doesn't interest me if the bank is not going to give any interest at all.Then,I would like to keep them in my hands as liquid money.or else invest in something else like gold or in stock markets where you can see you money getting multiplied.But I don't deny that we should all have some savings in some from.
@Genericbe (1376)
• Philippines
8 Jan 10
Yes, I will invest my money from hard work and be converted to a profitable one rather than saving it in a bank without any interest rate. People work to live and provide the basic necessities in life. Therefore, they wanted to make multiple income to survive now at this present crisis we are all experiencing. If the fruit of your labor will turn out in a good profit, having a better future for consumption. Then why not try other ways to earn. Besides, even you put money in the bank will not give you interest will still gain you nothing. You will end up no money in the end because you will gonna use it for sure. So, if you make conversions of that to multiple income, it is the best approach to provide things you needed and not in a much complicated way.
@DenverLC (1143)
• Philippines
8 Jan 10
Hi Kingparker, I would rather invest my money in other ways that will make it more productive than wasting it in a bank for nothing. Banks survived because of deposits and lending transactions, they provide loans with high rate of interest too using the depositors money, that's the irony behind it we borrow our own money with interest too high sometimes. Now if you deposit your money they will just use it for business expansion and growth but will just give you a minimal or zero interest. Banks are only good for people who do not want to use or rather know how to manage their own funds wisely.