To hold money in hand or in bank?
By Danzylop
@Danzylop (1120)
Philippines
December 1, 2012 5:46pm CST
Many people get to be too concerned about issues concerning money. People find a job because of money some put their business up. All this things up for money.
In my case, I have friend who work in a call center. Yeah, he is concerned about his financial matters that is why he went here in Davao. And there was a time that I asked him regarding the benefits for working in the company he is currently with. He told me about healthcare. And it was the topic I really got interested in since my wife had some health issues before. he told me that he was going to get his mother, his sister, his wife and his baby for a separate health insurance policy. I asked him regarding it since his wife and his baby is gonna be his beneficiary for his own account. But he told he me that he wants to acquire separate accounts for them. Well thats kind a big burden on his monthly salary since there will be a great of money to be deducted against him.
he is very concerned about health and for his case, he would hold money for precautionary purposes just in case his family gets sick.
On the other, he could have just save those money in the bank and when something goes wrong, he can withdraw all of them. What do you think? Well, I am more concerned about the double "registration" of his family members since all of them are actually his beneficiary.
3 people like this
12 responses
@squallming (1775)
• Malaysia
8 Jan 13
In my opinion, between keeping one's money in hand and keeping the money in the bank to enjoy dividend, the latter seems to be a wiser choice. Because we are facing inflation all the time and the value of cash is decreasing rapidly if you have notice. Keeping the money in the bank would decrease the value drop of your money as bank are giving out dividend each year even though not enough to be more than the inflation rate. Yet it is still better somehow.
Besides that, if one have extra money in hand, I would recommend to do some businesses instead of keeping the money in hand or in the bank as it may generate even greater amount of revenue. 
@kaladkarin (23)
•
2 Dec 12
i put my money in the bank because if the money is in my hand, i just buy things i really don't need. and your money will increase if you put it in the bank. but not that much unless your going to deposit a lot of money.
@rosekiss (30414)
• Eugene, Oregon
10 Jan 13
I will put what money I make, into the bank, so that it is there when I need it, as I might have a tendency to spend it, instead of it being put towards bills and necessities. I don't have much in the bank right now, as I am owed money, and not getting it. I know a lot of people dont truest banks, and therefore, they won't keep their money there. anything I make online, goes from my paypal, right into my bank. Take care, and have a great day. 
@surekharathi (14146)
• India
11 Jan 13
I think bank is safe because if we are puts the money in our home and thieves came means lost all. Thieves may be came anytime. But I not like to invest the money in health insurance or in any other company like in shares.
@timetravel (1425)
• United States
7 Jan 13
This is totally off topic but I HAVE TO SAY I love your icon/profile picture! That is too cute!
a BIRD in the hand is worth two in the bush - keep the money yourself.
@vidhyaprakash_2 (7116)
• India
11 Jan 13
Hi friend, i agree with you, if he invest his money with health insurance or other saving scheme it will be very useful to him during the needy time. We don't get any benefits by holding money in our hands, if we invest the money, we will get interest as well as get loans for our needs.
@williamjisir (22819)
• China
7 Dec 12
It could be better and safer for us to deposit money in a bank after leaving enough money that we need for daily consumption a month. With the money deposited in the bank, it can generate some interest for us. It is some easy money and you don't have to worry about it security in the bank. When you need to use it, you may just go and withdraw it for your own purpose. Thanks for the discussion.
@asliah (11137)
• Philippines
20 Dec 12
hi,
actually i used to put my money in the bank because doing that i can save more money rather than in the house,of course i still have money on hand because i need it too for my allowance for my everyday in my work,but this money is only good for my everyday allowance.
@zurichann (235)
• Philippines
8 Dec 12
I would prefer to save some money in the bank and save some on hand for future consumption. My boyfriend and I were having discussion regarding this and suggested that it is still better to have our money saved in the bank. He's thinking that we might end up needing it for business though.
