Do you think it's better to have money in the bank or cash in your pocket?
@beautyqueen26 (16030)
United States
13 responses
@youless (112497)
• Guangzhou, China
6 Jul 07
I think so. At first, it's really dangerous to have lots of cash with you. It's easy to be stolen or lost. Besides, if you have lots of cash in your pocket, you can't help buying stuff. So it's better to keep it in the bank, and you will have interest, too.
@beautyqueen26 (16030)
• United States
15 Jul 07
Yes, that is true! Many thieves count on careless people to carry big chunks of cash around with them. Surprising that many people still do considering the rising crime rates.
@ladysurvivor (4746)
• Malaysia
6 Jul 07
I only keep cash at my home for daily expenses because I am lazy to go to the bank everytime I want to do some spending. Then the rest of the balance i would definitely keep in the bank to earn interest. This way is more intelligent and can grow money. (I hope so, lol...)
@beautyqueen26 (16030)
• United States
17 Jul 07
If I don't have at least a few dollars in the house, then I can't order pizza!
@beablessing (38)
• Philippines
6 Jul 07
I put my money in the bank primarily to earn interest. I just choose options that earn higher interest. I also have mutual funds for higher earnings.
1 person likes this
@tigertang (1749)
• Singapore
15 Jul 07
I think it all depends on which part of the world you live in. When I was living in the UK it always helped to have cash in the bank because interest rates were around 4% plus and so you could have a savings account that made you money and a checking account from which you drew your money from and that gave you cash in the bank. Now that I've moved back to Singapore, life really sucks when it comes to bank accounts. Over here the banks pay you something pathetic like 0.001% on a savings account and fine you whenever your balance falls below a certain limit. So in my current situation, there is actually no difference between cash in the bank and cash in the pocket.
@wondericequeen (7876)
• Hong Kong
16 Jul 07
I would prefer to have money in the bank. I know myself way too good, because if I have cash close at hand all the time, I would tend to spend them all and I would end up having nothing at hand or in the bank. I would prefer to have some investment plan in the bank so as to lock my money up and I won't spend it too easily. Also, it has an interest rate or an investment return which could get the money ball rolling. I have been doing that since this year, and not only the money gets bigger, I spend less on the "unneccessary items" too.
1 person likes this
@beautyqueen26 (16030)
• United States
17 Jul 07
Yes, I am the same way as well. If I carry a twenty dollar bill into the grocery store, it is surely gone! They can't have it, if I don't. I am never tempted to make purchases from local stores if I don't carry excessive amounts of cash with me. That goes for debit or credit cards as well!
@shemah (840)
• Malaysia
6 Jul 07
Personally, I'd rather put it in my account. Only when I do need it then I withdraw my money from the ATM. But then again, I have a monthly budget so that's the only amount (including emergency money) that I withdraw from the bank because 1) it's safer 2) so i can't spend unnecessarily 3) let the rest of my money gain interest.
For me, just a certain amount of cash on hand is enough. Large amounts just scares and entices me~ lol!
@beautyqueen26 (16030)
• United States
15 Jul 07
You always say the smartest things! I just got paid by My Lot into my Paypal account, and I am definitely going to withdraw to my bank account so it can earn a little residual income for me. Then again at tax time I will owe! But, till then I can enjoy. Be well!
@pilotjune1972 (199)
• Philippines
16 Jul 07
beautyqueen26 i'd rather have it tucked safe in the bank, although its earning a very small amount of interest these days, its still the best safekeeping method :)
@kcbomba (616)
• United States
15 Jul 07
l prefer the damn thing in my pocket . l just hate the banks ,l don't like the procedures , to collecting your own money .........ah ,is really not something pleasant to me , at all.
l prefer it in my pocket ,really. lnfact , l will consider opening a private (impress) bank in one corner of my compound to louge huge sums of it , rather than go to the bank with it . Besides, sometimes you might go the bank to withdraw and on your way back you're attacked by arm robbers who's being tracing you down you home .
Am not condemning the bank activities generally, but it is basically good for the business aspect , not really personal.
@archer1811 (1098)
• Philippines
6 Jul 07
Its both important, in emergency cases its better to have money in your hand rather than spend your time going to the bank to withdraw your money, but it is also better to have your money in the bank so that you wont just get it into your pocket and spend to the things that is not more important, safest way of investing is in the bank to earn more interest. Than hold it in your hand without earning interest, so for me id rather keep it on the bank and leave a few amount on my hand for emergency cases.
@steve9737 (918)
• Colombia
16 Jul 07
I think it depends on the amount if I have few money I think it is better in the pocket but with some money it would be more safe in the bank.
@DanaMark (807)
• United States
9 Jul 07
I like to do both. I like to carry cash for going out to eat and small purchases. Many places have the server be the cashier and I don't trust them to use my credit card. So I like to have cash to give them. I have some friends who gave their credit card to a cashier. A week late they had unauthorized purchases for computer equipment on their credit card. So I don't leave my credit card out of my sight. Otherwise, I have my living expense money in a bank account, and use a bank card to pay for most things. Other than living expense money, I have the rest invested to get interest on it until I need it. That system works well for me.
