Where do you put your extra money?
By piya84
@piya84 (2581)
India
September 7, 2016 2:01am CST
I have been putting my extra money in bank as mids.MIDS means you get monthly interest from your fixed deposit.Its very convenient as you end up locking your money also get some monthly return to cover your some of the bills.
As this point small small amount every month means lot to me.I have been covering my phone bill,internet bill from that money.
I have also small piggy bank at home where I put little money in the form of coins then I exchange that money for notes of bigger amount.
Its joy to see money growing.
4 people like this
6 responses
@rina110383 (24492)
•
7 Sep 16
75% of my salary and all my online earnings from Upwork, Onehourtranslation, etc. are immediately deposited in my bank accounts. I distribute them evenly among my time, savings and dollar accounts.
For coins, I drop them in my water gallon, a.k.a. big piggy bank.
Like you, I feel extreme happiness every time I visit the bank to deposit my hard earned money.
1 person likes this
@rina110383 (24492)
•
7 Sep 16
@piya84 Yes, it is a translation site. They do allow other countries to do translation for them.
@egdcltd (12059)
•
9 Sep 16
@piya84 It is a mutual fund (although we call them something different in the UK). It's designed to track a specific stock index, such as the Dow Jones or the FTSE-100. Most of the cost of mutual funds goes into paying managers to pick stocks that then don't do as well as the index. So a tracker fund eliminates that and just buys the index, which means it costs less.
@crossbones27 (49432)
• Mojave, California
7 Sep 16
That is great it is working for you and you have a plan.
1 person likes this
@nattyweb (169)
• Ibadan, Nigeria
11 Sep 16
Yeah keeping money in your bank account is a good idea. When you need any amount you can quickly go to bank and withdraw from the it. The one you keep in your house is also good in case of an urgent necessity. As you said , you can turn it to bigger amount and save it in your Bank account.
@Happy2BeMe (99380)
• Canada
7 Sep 16
I use mine to pay my expenses. It is not much but it is nice to have the extra money coming in.
1 person likes this
