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Author Topic: Banks Won't Make You Rich  (Read 1558 times)
Kakmakr
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April 21, 2018, 03:19:19 PM
 #21

A Bank customer does not just have to beat inflation, because they have to beat the huge fees that are added to the transactions and the fees that they have to pay to use their service.

A while ago I paid 10% of my transactions in fees, when I withdraw cash and it increase as the amount increased. The Banks also charge high interest on the loans and credit they provide.

They Banks do not care about the customer, they are just focused on profit for their shareholders.  Angry

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April 21, 2018, 03:25:43 PM
 #22

It is clear that in order to earn a profit, it is necessary to participate in a real business, sell a product or provide a service.
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April 21, 2018, 03:27:52 PM
 #23

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.  Lips sealed Banks are just for keep your money safe!  Tongue



Yes,if you invest your money in bank it won't make you rich so better invest your money in bitcoin because there's a great chance that you become rich in here.
But when you put money in the Bank, there is a small chance that in a year you will have twice less money, unlike bitcoin.
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April 21, 2018, 03:33:13 PM
 #24

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.  Lips sealed Banks are just for keep your money safe!  Tongue

You're right. But it's not the banks ' fault. The government decides on the issue. In government, have long been involved the whole clan. They hold on and fight among themselves for access to the Treasury. The mistakes they decide from the savings of ordinary people. That's the reason I never keep money in banks.
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April 21, 2018, 03:34:58 PM
 #25

If you don't have hardwork you'll depend on a simple task that given to you and earn with no difficulties you cannot be rich with it by using btc because if you want to become rich from it you need to gain knowledge and have some hardwork from it.

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April 21, 2018, 03:36:49 PM
 #26

Yes its true, banks wont make us rich, so we have to separate our savings, make more investment, provide business to earned more profit.
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April 21, 2018, 03:40:43 PM
 #27

Who even thought about bank interests rates are gonna make you rich?
Banks are only there to keep your money safe, it was never intended for someone to passively attain money doing nothing.
If you wanted to get rich whilst doing little or nothing it's probably better to invest in market stocks, businesses that people would good money for (i.e Dorm/Appartments, LAN Cafes, etc. [both are big, and demanded even in Philippines]) And you just get a bank account to keep your earned money, bank interest are only there as an incentive, it's okay, but not really enough to make you "rich."
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April 21, 2018, 03:48:14 PM
 #28

Bitcoin can make you rich. saving money, then the right choice is to buy bitcoin, you do not even need to do anything. but if you want to be richer, then try to keep getting bitcoin. the longer the value will be more expensive. then let's talk about this again 5 years into the future.

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April 21, 2018, 03:50:39 PM
 #29

It's okay for me the bank just to keep all the money in the money, not called an investment because there is no increase in the amount of money every day, of course it will not make everyone get rich, and obviously the bank is just a means to save all the money, if you want getting passive income better saves money to invest in bitcoin, explain the prospect of bitcoin work to increase income every day, rich banks is the only means of storage for me.

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April 21, 2018, 03:51:28 PM
 #30

Why bank would make you rich? People are using bank just for the services like money transfer, loans etc. Except if you hold a share/stock of that specific bank.

Yes its true, banks wont make us rich, so we have to separate our savings, make more investment, provide business to earned more profit.

This is the right thing to do, don't entrust your funds solely in banks because the interest is so small that you will not earn something if inflation is taken into consideration.

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April 21, 2018, 03:52:49 PM
 #31

You really think any bank will make u rich ?Cheesy Banks are making money on you and are making u poor....
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April 21, 2018, 03:56:53 PM
 #32

In the bank, your money works for them, you only get a small part. It is necessary to invest and be able to properly invest your funds.

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April 21, 2018, 03:59:58 PM
 #33

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.  Lips sealed Banks are just for keep your money safe!  Tongue



Banks are made to secure our money and they only provide a small amount of interest and profit which we can't really rely into. I believe that it is still better to have a real investment company to rely on rather than having banks. The role of banks in our community us just to keep our savings safe and secure but don't expect much from it.


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April 21, 2018, 04:02:02 PM
 #34

That's damn true.To keep the money in the bank is meant for security.Actually they are rich by our name,we aren't.The money we are putting in the bank is benefiting from working properly.But we aren't getting half of its profit and interest.So in my opinion,money should be invested in currency.Then it is possible to be rich.Otherwise Banks won't make you/me rich.

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April 21, 2018, 04:03:56 PM
 #35

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.  Lips sealed Banks are just for keep your money safe!  Tongue


I completely agree with you. You simply can't earn money from bank investments, specially because of inflation. People will still get their interests, but it simply won't be enough, and they usually have a lot of restrictions associated with the investment, like not being able to move the money during long periods of time. You can of course take some more risky investments, but you normally might lose your money from them, so it's not a good option as well. For the same risk, you would probably get a lot more money from investing on your own.

Also, let's not forget the commissions banks charge for keeping accounts active, so for me, banks are only useful when you want to get a loan.

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April 21, 2018, 04:04:52 PM
 #36

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.  Lips sealed Banks are just for keep your money safe!  Tongue


Banks can't make you rich, but you can make them richer. By depositing your money to them, they have the power to use your money to grow elsewhere like investments. Do you know what can make you rich? Business, Investments, and inventing something disruptive, innovative and useful for long term. Banks can't even keep your money safe for long, because banks can become bankrupt. Inflation, on the other hand, is central banks fault.
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April 21, 2018, 04:08:11 PM
 #37

your opinion is correct, and banks everywhere always remind everyone to save their money. not to make rich. if the money you save a little money, it is definitely only going to eat inflation. and how to make us rich is by investing. use your money to buy bitcoin. then save, and sell at the right time.

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April 21, 2018, 04:10:49 PM
 #38

Bank is a place where we save money. Not a place to invest that can produce great benefits.
So do not dream to get rich from investment in bank.simple course when dealing with the bank, that is our money is safe.
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April 21, 2018, 04:14:00 PM
 #39

Banks wont make you rich, because banks are just created with a purpose to save and secure your money and they only provide a small amount of interest, if you want a huge interest better to put your money in bitcoin.

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April 21, 2018, 04:20:52 PM
 #40

Why would you expect banks to make you even richer?  Roll Eyes I wonder. Banks are supposed to keep your money safe, although you could invest in your savings and that could grow upon the use of the bank to your money in other purposes such as the loans from people. But it is really impossible for it to make you rich in a single hand.

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