PMT Forum
How do you want to make money today?

How to Lose Your Money in the Bank

phreyesj23 · 12 · 3432

phreyesj23

  • Forum Tambay 200
  • ***
    • Posts: 246
    • Likes Received: +0/-0
on: Jul 07, 2014, 04:15 PM
Banks are still quite a popular choice among many people. And why not? It's easy, convenient, and of course, safer.

Safer?  :bday:
One of the many reasons why we keep ourselves ignorant from most investment vehicles is because of our fear and lack of knowledge to understand "risks". Remember, we love to fear what we do not know! And without proper financial education, this fear will never cease.

We fear that we might lose our hard-earned money. Yet, there were countless victims of investment and pyramiding scams.   :yoohoo:

Then there's the bank -- where we let our ignorance quietly eat the value of our savings. How is this possible?  :hihi:

Hmm...

Click here to know how...


grayback_01

  • Forum Tambay 150
  • ***
    • Posts: 152
    • Likes Received: +0/-0
Reply #1 on: Jul 07, 2014, 04:30 PM
wowo!

Sad but true. People tend to choose the safer ways (plus ignorance in mixture)


pulubing_palaboy

  • PMT Jedi 2000
  • ****
    • Posts: 2,299
    • Likes Received: +7/-0
Reply #2 on: Jul 07, 2014, 10:05 PM
i beg to disagree
having money in the bank and having investments are NOT mutually exclusive
therefore, having money in the bank by choice is not necessarily out of ignorance
i have real estate investments, MFs, and money in the bank


george88

  • PMT Idol 1000
  • ****
    • Posts: 1,213
    • Likes Received: +0/-0
Reply #3 on: Jul 07, 2014, 11:32 PM
Well its better to have money in the bank rather than putting it at the back of your closet...CASH IS KING


patski

  • Senior Member
  • **
    • Posts: 99
    • Likes Received: +0/-0
Reply #4 on: Jul 08, 2014, 09:50 AM
Depende siguro sa purpose. For me kasi, my saving account is for emergency purposes. Swempre labas dun yung pang investment ko..


phreyesj23

  • Forum Tambay 200
  • ***
    • Posts: 246
    • Likes Received: +0/-0
Reply #5 on: Jul 08, 2014, 02:30 PM
Depende siguro sa purpose. For me kasi, my saving account is for emergency purposes. Swempre labas dun yung pang investment ko..

Yep that's right!  :applause:

tw0 funds are best put in the bank: 1 is for emergency funds and 2 is for business funds (of course you'll need liquidity sa business). Ang mali na pino-point natin dito is that your "Savings" on the bank cannot be considered a sound investment considering "inflation" and the low interest rates na meron ang mga bangko.  :boxing:

 :thankyou:


mackygoof

  • Forum Master 300
  • ***
    • Posts: 363
    • Likes Received: +0/-0
Reply #6 on: Jul 09, 2014, 12:50 PM
Madami lang unaware sa investment.
It's good to always have emergency funds.


george88

  • PMT Idol 1000
  • ****
    • Posts: 1,213
    • Likes Received: +0/-0
Reply #7 on: Jul 09, 2014, 02:29 PM
Dapat hindi lang emergency fund nasa bangko at least meron ka rin TD...Defense yan eh investment will always be your offense but it is double edge since you can lose it...Emergency fund is for survival


Jayumaster

  • Forum Champion 700
  • ****
    • Posts: 735
    • Likes Received: +4/-0
Reply #8 on: Oct 08, 2014, 12:05 AM
Money that should be kept in the bank:
1. Business funds (revolving funds for your business)
2. Personal budget funds. (day to day expenses)
3. A portion of your emergency fund. (other portion invested in liquid assets like High yield savings accounts)
4. Charity Funds.
5. Earnings from other investments. (waiting to be re-invested) :boxing:


phreyesj23

  • Forum Tambay 200
  • ***
    • Posts: 246
    • Likes Received: +0/-0
Reply #9 on: Dec 10, 2014, 05:29 PM
Three Friends....Three Years  :huh:

Find out what happened to them here  :watchuthink:


MichaelThompson

  • Junior Member
  • **
    • Posts: 36
    • Likes Received: +0/-0
Reply #10 on: Dec 10, 2014, 10:52 PM
Banks used to be good not just as holding pens for your money, but as places your money could grow slowly but surely. But considering the evil combo of rising fees and pathetic interest rates, the net result is a slow but sure loss of value even when there’s not much inflation. The main reasons for putting money in standard checking and savings accounts are convenience and security—basically because it’s safer than stuffing money in the mattress—but the trade off for an account with no risk is that you can be assured of a steady chipping away of your money’s value.


Jayumaster

  • Forum Champion 700
  • ****
    • Posts: 735
    • Likes Received: +4/-0
Reply #11 on: Dec 10, 2014, 11:52 PM
I am currently engaging myself in the Cooperative Advocacy. Mostly my friends and neighbors (who have steady income from jobs) do not find saving and investing in a coop a good financial decision.

The more shocking news is: They do not even have bank savings accounts aside from their payroll atm's.

The sad reality is, most Pinoys do not even save in banks. They prefer saving their cash in new gadgets, cars, bikes, shopping  and going to vacations while posting pictures in social media just to show off and tell their friends how extravagant their lifestyles are.

Ang sinasabi ko nalang sa sarili ko after my declined invitation: See you in 30 years.
« Last Edit: Dec 10, 2014, 11:59 PM by Jayumaster »


 


PMT Shoutbox

Refresh History
  • Post only questions or comments here. Advertisements NOT ALLOWED.
  • oragon: :applause:
    May 20, 2019, 03:53 PM
  • FutureGizmo: Thank you for reporting those spam posts, oragon! Spam posts now deleted.
    May 20, 2019, 01:59 PM
  • oragon: Admin kindly monitor some peps! posting and sharing inappropriate nude photos and website links
    May 20, 2019, 01:52 PM
  • @culinary10: Hello I am new here! Regarding sa bdo life insurance for 8 years, pwede pa kaya ma refund yung binayad ko na 50k last year? Gusto ko sana icancel kasi lack of financial na, last may 15 2018 po un nag start ako ng life insurance, pinili ko annually kaso etong may 15 2019 wala nako ma ipay so gusto ko sana icash out, may alam ba kayo kung pano marerefund?
    May 17, 2019, 07:56 PM
  • FutureGizmo: Hi Sonny, the posting issue is now resolved. Thanks for informing us! We're currently testing a new, mobile-ready theme so let us us know kung may problema pa sa Forum. :)
    Apr 04, 2019, 10:40 AM
  • sonny.wapak: Nakaka receive din ba kayo nito pag gawa ng new post? "Please try again. If you come back to this error screen, report the error to an administrator."
    Apr 03, 2019, 10:56 PM
  • leonine_zafiro: what product nun?
    Apr 01, 2019, 10:25 PM
  • dhondiex27: hi
    Mar 30, 2019, 10:55 PM
  • lusart: jayrob i agree 200%. hulog ng langit organico. legit na legit
    Mar 29, 2019, 09:08 AM
  • palemelch: Hi
    Mar 28, 2019, 04:08 PM
  • O.C.W._AK: Magandang Araw sa Lahat! Blessings! (",)
    Mar 28, 2019, 08:42 AM
  • thor15: hello everyone, newbie here
    Mar 25, 2019, 01:47 AM
  • captjaylo: present newbie here
    Mar 22, 2019, 10:06 AM
  • balboagilbert26: hello Guys .. Newbie here
    Mar 21, 2019, 10:55 PM
  • businesswoman2019: @jefsanity nag inquire na po ako pero di sila nagdidisclose. Yung branch po kasi na target ko, currently building pa.
    Mar 21, 2019, 04:27 PM
  • jefsanity: @businesswoman2019, much better inquire ka na lang sa admin nila.
    Mar 21, 2019, 01:51 PM
  • businesswoman2019: Hello! Any idea how much ang stall sa waltermart. 2m x 2m
    Mar 21, 2019, 08:28 AM
  • John Neil: Looking for an accredited iron foundry
    Mar 17, 2019, 03:19 PM
  • jayrob: Mark_Lee ung organico legit po yan..  Member din AQ..
    Mar 17, 2019, 12:57 AM
  • perlymelad: Hello po! Need advice, why my new MLM leaders failing?
    Mar 14, 2019, 08:51 PM
  • perlymelad: Present
    Mar 12, 2019, 07:53 PM
  • kennethmauricio: Hi saan po dito pwede mag post ng for sale properties?
    Mar 11, 2019, 07:58 PM
  • jefsanity: @mark_lee isipin mo anu passion mo at skills mo...
    Mar 11, 2019, 06:52 PM
  • sniperaj09: BAGO LANG
    Mar 10, 2019, 11:16 AM
  • mark_Lee: magandang investnent ngayon sa 30k suggest naman keo mga boss
    Mar 10, 2019, 03:07 AM
  • perlymelad: E-BOOK PO SIR @JEFSANITY
    Mar 09, 2019, 05:40 PM
  • perlymelad: @jefsanity Good Morning Po
    Mar 09, 2019, 05:39 PM
  • perlymelad: Good Day everyone
    Mar 04, 2019, 06:24 PM
  • jefsanity: anu ang small business na yan?
    Feb 28, 2019, 07:40 PM
  • perlymelad: Good Day Everyone
    Feb 28, 2019, 03:31 PM
  • perlymelad: Hello everyone, CAN ANYONE HELP ME SUGGEST ANY SIDE TOPIC  / PROBLEM OF  STARTING SMALL BUSINESS?
    Feb 28, 2019, 06:58 AM
  • perlymelad: Present, 1st time po
    Feb 25, 2019, 06:17 PM
  • jd2281: newbie po
    Feb 25, 2019, 12:26 PM
  • ejllantino: present... 1st time
    Feb 24, 2019, 07:14 PM
  • rheiel: present. first time
    Feb 24, 2019, 11:04 AM
  • MELVIE: thanks po
    Feb 24, 2019, 12:50 AM
  • steph123: hello po, ask lang po, ilang months po ba ang hihintayin after mo ma process ang mga documents para maitama ang mali sa NSO?
    Feb 11, 2019, 03:13 PM
  • Deborah: newbie here.thanks
    Feb 08, 2019, 02:17 PM
  • marj0503: hello im newbie here
    Jan 31, 2019, 10:53 AM
  • yan24: any one here planning to start a tesda skill training center
    Jan 26, 2019, 12:07 PM
  • manzjon: Forex trading forum
    Jan 25, 2019, 02:16 PM
  • Lizette Ramos: Pwede po bang patulong... Maganda po ba ang gasul retailing business?
    Jan 24, 2019, 09:14 PM
  • Imnobody: Hi sino naghahanap ng casino financer dito?
    Jan 16, 2019, 09:59 PM
  • Odlanyer22: Good day!
    Jan 16, 2019, 09:55 PM
  • maryen: at kung sakaling may somobra sa food na nailuto.. dapat po bang bayaran ng client un .. or ipapa take mo na sakanila?...
    Jan 16, 2019, 03:52 PM
  • maryen: HI! GOOD DAY! newbiz lang po... question lang po regarding sa catering.. if may 50pax po ako dapat lang po ba na sakto ang serving ng food?
    Jan 16, 2019, 03:50 PM
  • mark_Lee: cno na nag organico dito scam po ba yun or legit
    Jan 09, 2019, 03:04 AM
  • kuray08: Have a Prosperous New Year to all..
    Jan 06, 2019, 09:27 PM
  • ethan: Sino po may auto supply business dito? How profitable po ba ito in terms of monthly income? Lalo na kung meron na one or two na competition.
    Jan 04, 2019, 11:34 AM
  • Niel Jhacoubs: HAPPY NEW YEAR!
    Jan 02, 2019, 04:37 PM