Saving money to be Robbed

[S3VIDEO file=’M016-save-to-be-robbed.mp4′]

The first rule in personal finance is to never spend more than you earn, so that you will have something left for saving purposes.
The problem is that there are people who in fact save so hard. Some old folks don’t even trust the bank to put their money into merely “numbers”. That’s what you see in your bank account statement right? Only numbers, no cash!

Then bank uses this money to lend to someone else, who is more capable of making good use with it. Borrowers fund their business ventures and real estate investment with the money you put in the bank.

If you are saving too hard, you are probably being robbed by inflation and also the government who prints more money.

Tell us where you put your money, [wlm_firstname]