Which is better putting your money in the bank or invest it in a business?

February 7, 2007 2:48am CST
I am confused if I will take my money from the bank and invest it in a small business, because sometimes I tend to use the money for other things and before I realize, it's all gone. Atleast in the bank, I can't spend my money.
2 people like this
8 responses
@cuddleme01 (2727)
• Philippines
7 Feb 07
bank - the bank of scotland edinburgh
it depends faylinn. if you are a risk taker, then you may invest your money in some business for it to grow at a faster pace than putting it in banks. But of course, you know the downside. If you don't succeed all of your money will be lost. now, if you are more of the safe thinker, putting it in the bank assures you of extra profit due to interest but it is not that big and that fast compared to venturing into businesses. So you consider this thing: how much risk are you willing to take to make your money grow? Your answer to this question is up to you! good luck then!
@shilpaum (1753)
• India
7 Feb 07
Ohh...Please don't keep ur money in bank. Let money work for u. If ur engaged in any job, or bussiness currently,and can spend much time money investment here is the simplest way. Mutual funds, bonds, SIP r the better option.U can invetst in shares, but independent investment in shares needs continuous study of market trends, so better don't choose that path.But can go for IPOs,they r nice to invest. If u've not read "Rich dad Poor dad", Please give some time. It can sugesst u better way...Bank or...!
1 person likes this
• Pakistan
9 Feb 07
In my opinion investing in some business is better than putting money in bank. http://bash.reallifelog.com
@thebestmom (1105)
• Philippines
9 Feb 07
It depends on you. if you are fond of doing business, put it in the business. But remember, doing business needs loooots and lots of energy. You wont hae your own time. And especially this time is not a good time to make business because of the money. Otherwise, putting your money in the bank earns too little interest
@COLLIS2 (479)
• United States
8 Feb 07
Before you consider this, consider many different options in between. Investing in a small business is quite risky with a lot of potential loss and legalities. A bank though doesen't pay any interest suitable for investing. There are many options in between like money market accounts, annuities, brokerage accounts, CDs which pay at higher interest rates and other such investing options. Look at them all before you make a choice.
@istanto (8562)
• Indonesia
7 Feb 07
With honest, If I have a lot of money I will save it 80% on bank and let it grown more bigger on there. even it's not to big but it guaranteed and save, I will use another 20% for starting my own business.
• Germany
7 Feb 07
I got my money on the bank, I nearly forget every time to get some cash for things like breads and such which you can't buy with an EC Card...
• Australia
7 Feb 07
Its really depend on you... you can try both - saving your money in bank have less risk, however, the return also small If you're the type that can stand risk (lets said, you won't get a heart attack when the value of your investment decrease significantly), put bigger part of your money in investment which could give high return