Bank and Emergency funds.

[mvdheuvel1983]

Emergency funds are for emergency occurrence, regardless if you save it in banks or in your own wallet. But if you are being threaten by the activities of the bank that's why you use it to be a capital of your business, I see there's something wrong with it. Save for your business or investments, do not compromise your emergency funds. That's mostly the reason why people suffer from financial crisis in the long run.

Emergency funds should be kept where it can be easily gotten when it is needed to sort out emergency needs if it is kept in the bank it will not get stolen but the deductions will happen and if it is in usdt where you think it is safer then it shouldn't be used for something so that when you need money for urgent needs you don't struggle to raise money when there is provision made for it already. Financial crisis is real for a person who doesn't invest in business or have access to a good paying job they will have a terrible explanation of what lack of finances means during emergency.

[God Of Thunder]

Do you guys even have emergency funds?

I have everything in Bitcoin and USDT. I can sell my USDT whenever I want, and I can consider my entire funds as emergency funds. I haven't kept funds in banks for a couple of years now. At least since I understand how banks hold my money and conduct business with it, in return, they charge me fees. What kind of fucking business is it? Additionally, when I plan to withdraw my money from the bank, they want to know why I am withdrawing my own money. What the fuck?

I translated an article where the banks were asking a Romanian guy what he was going to do with the money he was going to withdraw. The guy wrote a letter to banks that he is going to vacation and he will fuck some whores and he needs money for that 

[junder]

In life, we must be able to manage our finances well, and this involves saving, whether for something we want or for an emergency fund. Saving is important for everyone. I think our parents taught us to save even before we started. As adults, we have to save, whether on our own or by depositing it in a bank. An emergency fund is also important because it can help us when we encounter unexpected events.
The equivalent is money set aside for savings.

[gunhell16]

To be honest, having emergency funds isn’t actually bad. In fact, it’s a good thing because anytime we face an unexpected problem, we have money that we can pull out from our pockets. Though, as a crypto investor, I don’t really use banks that much in person what I use are e‑wallets and other digital banks.

Besides focusing on crypto trading or holding Bitcoin and other top altcoins in the market, I also took out a life insurance policy, like Sunlife insurance, for myself and for my child.
Just in case I have something to pass on to them, it will be easier for my loved ones to receive my inheritance, both my spouse and my child, in addition to the crypto assets that I also have.

[Localhostspeed]

Emergency funds should be kept where it can be easily gotten when it is needed to sort out emergency needs if it is kept in the bank it will not get stolen but the deductions will happen and if it is in usdt where you think it is safer then it shouldn't be used for something so that when you need money for urgent needs you don't struggle to raise money when there is provision made for it already. Financial crisis is real for a person who doesn't invest in business or have access to a good paying job they will have a terrible explanation of what lack of finances means during emergency.

To be candid with you, for now I don't have anything like emergency funds, I just live my life, collect my salary when the month is due for payments. When I need an emergency funds, I go to my bank app and take loan with less than 9.3% per month. Reason why I don't consult my friends isn't because I don't have any, it's because I value my privacy, I want to hide my problems from the rest of the world, some may have and will not want to help you.

Most of my problems aren't that serious one so the money I do take as loan isn't that big to make me worry about the interest, the currency is in my local currency I don't have to worry about price variation. When I get paid, I pay the money instantly to avoid repeated interest or the days I win money from gambling, sometimes I do make good money, I make sure the money is out into good use. This is how I have been living my life with peace and harmony.

[MFahad]

We create an emergency fund to get immediate cash in case of unexpected needs. So if someone is thinking of investing the money in the emergency fund, then first of all he should think whether he will be able to use his money immediately if an unexpected time comes. If not, then the main purpose of the emergency fund will be disrupted. Depositing the money in the emergency fund in the bank will ensure the safety of the money, but it is an unprofitable shelter. If someone wants to use the money in the emergency fund, in this case, it is better to keep some part safe instead of keeping it completely inactive so that the main purpose or immediate protection of the fund is always there.

Agree, We create an emergency fund for sudden needs and cash. First, I would like to talk about the emergency fund. it is the savings that help us in the difficulties that arise in our lives. If we want to secure our funds, we deposit them into the bank. This method protects our money but it doesn't provide much benefit because when we need money in our difficult situation, we have to access the bank. We should keep some of our money in cash And let some part be safe in the bank. it's will give us two benefits one, our property will be safe which will give us peace of mind. Secondly, we will be able to use the money which we have in cash to help us in our difficulties.

[Ricardo11]

In life, we must be able to manage our finances well, and this involves saving, whether for something we want or for an emergency fund. Saving is important for everyone. I think our parents taught us to save even before we started. As adults, we have to save, whether on our own or by depositing it in a bank. An emergency fund is also important because it can help us when we encounter unexpected events.
The equivalent is money set aside for savings.

Saving or investing, or taking steps to create a future financial situation and being very careful in financial management is the most important thing in every person's life, spending money uncontrollably will never guarantee us a future financial situation.
That is why when a parent raises his children to be careful in financial management from the very beginning, that child will be aware of using money from the very beginning, as a result, the possibility of financial disaster will be very low in his case, because he will try to avoid unnecessary spending as much as possible because his mentality is built this way.
Financial management is important in everyone's life, because through these, a person can grow up, spend money in the right place, use money correctly which will provide him with financial support later or create a financial foundation.

[Cheema02]

In life, we must be able to manage our finances well, and this involves saving, whether for something we want or for an emergency fund. Saving is important for everyone. I think our parents taught us to save even before we started. As adults, we have to save, whether on our own or by depositing it in a bank. An emergency fund is also important because it can help us when we encounter unexpected events.
The equivalent is money set aside for savings.

Yes, we should learn saving and managing money in a way so that we could use it in emergency situations. We can either save money at home or by depositing it in the bank. Both the things have pros and cons. If we keep our savings at home we can lose this money if a robbery happened but it has a positive point to keep money at home we can use it before a second. If we deposit the money in bank first of all the taxes we have to pay and the monthly deductions will one day end our money. From childhoon to being adult we are taught to save money. Since the childhoon we save our money and as we grow this lesson becomes more valuable for us. If we have saved money as a backup we are stress free and se don’t have to take loans with heavy taxes. So spend your money wisely and also save it if we find a crisis.

[Unknown Op]

In life, we must be able to manage our finances well, and this involves saving, whether for something we want or for an emergency fund. Saving is important for everyone. I think our parents taught us to save even before we started. As adults, we have to save, whether on our own or by depositing it in a bank. An emergency fund is also important because it can help us when we encounter unexpected events.
The equivalent is money set aside for savings.

Yes, we should learn saving and managing money in a way so that we could use it in emergency situations. We can either save money at home or by depositing it in the bank. Both the things have pros and cons. If we keep our savings at home we can lose this money if a robbery happened but it has a positive point to keep money at home we can use it before a second. If we deposit the money in bank first of all the taxes we have to pay and the monthly deductions will one day end our money. From childhoon to being adult we are taught to save money. Since the childhoon we save our money and as we grow this lesson becomes more valuable for us. If we have saved money as a backup we are stress free and se don’t have to take loans with heavy taxes. So spend your money wisely and also save it if we find a crisis.

Emergency funds are important when we want to be stable in life because we need money to tackle the emergency situation if any accident happens and at that time we need money and this will be given at an exact time . Banks are not fulfilling the promise as they are not giving any profit to the account holders . They are also doing scams with them and they are blocking their account by making different excuses. There are many friends of mine who have blocked accounts and they have a great amount of money in their account.They want to unblock their account but banks are not ready to do that but they are wasting their time to accelerate for that and many people did not get anything after that when Bank blocked their account.

[Distinctin]

You know what, a lending business may not work as easy as it is just like you imagined. There's higher risk of losing, especially if you trusted the wrong persons to be your clients. For sure, they may be good payers at first but eventually, when their own funds get tight, they will start making excuses until they won't be paying regularly then. Aside that it's hassle and risky, its also stressful waiting for your clients when they will finally pay in full especially if the are already in past dues.

Don't mix up your emergency funds with investment funds. They should be separate always to avoid future troubles and issues.

[Kelvinid]

Emergency funds are for emergency occurrence, regardless if you save it in banks or in your own wallet. But if you are being threaten by the activities of the bank that's why you use it to be a capital of your business, I see there's something wrong with it. Save for your business or investments, do not compromise your emergency funds. That's mostly the reason why people suffer from financial crisis in the long run.

Emergency funds should be kept where it can be easily gotten when it is needed to sort out emergency needs if it is kept in the bank it will not get stolen but the deductions will happen and if it is in usdt where you think it is safer then it shouldn't be used for something so that when you need money for urgent needs you don't struggle to raise money when there is provision made for it already. Financial crisis is real for a person who doesn't invest in business or have access to a good paying job they will have a terrible explanation of what lack of finances means during emergency.

Emergency funds are exclusive for emergencies, while investing is never part  of it. So if you wish to set aside for emergency funds, always make it untouchable so that it will be use without hassles when things like emergencies arise.

But if you find investing profitable at the moment by using your emergency funds, it could bring profits but not all the time, and that may put your emergency funds at risk of losing.

[Jewan420]

First of all, why should you keep emergency funds in the bank? Emergency funds are not like keeping them in the bank. We often get cheated by the banking system or do not get the money at the right time due to the rules of the banking system. So keeping emergency funds in the bank is also risky.

Secondly, seeking profit in all matters is foolish. We should not run after so much money, but we should be satisfied with a little time. Even taking interest is one of the hated things in today's society, especially the cruel nature of informal interest traders, as we may have learned from our real life.

Emergency funds are for emergencies, not for any business. Always keep emergency funds with you and keep them in a place where they are very easy to use and easily available. Even if the value of money decreases due to inflation, you accept that loss. Because do not expect financial help in times of emergency, you will not understand how cruel the world is at your own peril until you are in danger. The plan to depend on others despite having one's own capabilities is nothing but foolishness.

[Iranus]

First of all, why should you keep emergency funds in the bank? Emergency funds are not like keeping them in the bank. We often get cheated by the banking system or do not get the money at the right time due to the rules of the banking system. So keeping emergency funds in the bank is also risky.

Secondly, seeking profit in all matters is foolish. We should not run after so much money, but we should be satisfied with a little time. Even taking interest is one of the hated things in today's society, especially the cruel nature of informal interest traders, as we may have learned from our real life.

Emergency funds are for emergencies, not for any business. Always keep emergency funds with you and keep them in a place where they are very easy to use and easily available. Even if the value of money decreases due to inflation, you accept that loss. Because do not expect financial help in times of emergency, you will not understand how cruel the world is at your own peril until you are in danger. The plan to depend on others despite having one's own capabilities is nothing but foolishness.

I agree with you, using your emergency fund to earn interest is a stupid idea. Once called an emergency fund, it has only one purpose and to be used only in emergencies. Using it for anything else is just plain stupid.

But why not keep them in the bank? What exactly are banks scamming us about? I really don't understand it, because over 25 years of banking, I have never had any problems depositing or withdrawing. Everything was very quick and easy, the only time I had a bit of trouble or took a long time was when I got a loan for my business.

IMO, you can keep your emergency fund in cash or in the bank, as long as it’s always accessible and can be used at any time.

[NewRanger]

First of all, why should you keep emergency funds in the bank? Emergency funds are not like keeping them in the bank. We often get cheated by the banking system or do not get the money at the right time due to the rules of the banking system. So keeping emergency funds in the bank is also risky.

If someone doesn't want to keep their emergency fund in the bank because they're afraid of deductions from A, B, and C, I think it's fine to keep it under your pillow or in a cupboard...but that also carries the risk of loss or damage. Another solution is to simply keep it in your wallet in USDT, simply withdraw it to a bank account, and then cash it out. It's like starting a business with nothing left to lose. If you're reckless and don't validate the results, you'll be disappointed.

I agree with you, using your emergency fund to earn interest is a stupid idea. Once called an emergency fund, it has only one purpose and to be used only in emergencies. Using it for anything else is just plain stupid.

But why not keep them in the bank? What exactly are banks scamming us about? I really don't understand it, because over 25 years of banking, I have never had any problems depositing or withdrawing. Everything was very quick and easy, the only time I had a bit of trouble or took a long time was when I got a loan for my business.

IMO, you can keep your emergency fund in cash or in the bank, as long as it’s always accessible and can be used at any time.

You have a basic understanding of banking, you'll understand the conditions and situations. Yes, that's how it is. The concept of an emergency fund is more about preparing for urgent events that can occur at any time, rather than generating additional profits if you need to use it. Everything must be put in its proper place.

[Youngrebel]

Because of what someone said in a thread concerning holding your emergency funds for long term without using it, that why not invest it on something that will bring profit for you in a short period, I commented on that post and it is very important I create a thread about it here because I feel it is something of importance to Bitcoin investors.
I have an emergency funds that has been on my account for some time now and I have not touched it and the bank is taking their changes from the emergency funds, I have already decided to start lending the emergency funds out and then when those that borrowed it are paying back they are paying with interest and in other to protect my money if I'm lending you the money you most drop a sellable property that is worth that money or even worth more of that money that I can sell and recover my money when the date of repayment expires.
Because keeping my emergency funds in a bank that will be deducting my money or in the name of bank charges is something that does not make sense to me.
Some people will ask what if an emergency happens immediately I borrow out my emergency funds how will I solve it, well I will simply borrow and solve it then when I get my money back I balance things up.

So if your emergency funds have been with you for a very long time and you don't even use them, look for a 90 percent less risk business that brings profit in a very short time and invest it there.
When you have an emergency and you have already used your emergency funds for your business you can simply borrow and since it is a business that profit you in a very short period you can balance up without it affecting you financially or your Bitcoin investment, remember I said look for 90 percent less risky business.
Think about this.

I totally agree with you OP. instead of keeping my emergency funds in the bank its best you either invest it in a business a
That is yours or another Persons business that will fetch you are money to you in the end. Holding money in the the bank was a huge mistake that was happening  before as it was used to enrich the bankers and leaving you who owns the money. And this is alot a candidate advice to all who are still tying down money in the bank. That money in yous account is a huge call that can give back millions for you so tou just need to channel your savings to a more profitable place instead of just leaving it

[AYOBA]

Because of what someone said in a thread concerning holding your emergency funds for long term without using it, that why not invest it on something that will bring profit for you in a short period, I commented on that post and it is very important I create a thread about it here because I feel it is something of importance to Bitcoin investors.

It’s not even advisable for some to hold funds for long periods of time without using them. What if something happens to those funds? In this case that is the reason why some of those people take their money into banks; in case they are in need of emergency funds, they will just go to their banks directly, but to me, if I have that kind of amounts money in the bank, I will divide it into two and take some part into business or investment’s and then leave the remaining one in the bank in case any emergency funds comes up, I will just use the one in the bank to solve the problem without touching the one I use for investment.

[livingfree]

It’s not even advisable for some to hold funds for long periods of time without using them. What if something happens to those funds? In this case that is the reason why some of those people take their money into banks; in case they are in need of emergency funds, they will just go to their banks directly, but to me, if I have that kind of amounts money in the bank, I will divide it into two and take some part into business or investment’s and then leave the remaining one in the bank in case any emergency funds comes up, I will just use the one in the bank to solve the problem without touching the one I use for investment.

There are people that are not good in any investments, they prefer to keep it in the banks. But they will have to adjust with that later on after realizing that it's only devaluing because of inflation.

And those who keeps their money in the bank and they don't touch it for so long, they might face problem with it.

Because for most banks, they have the policy that you need to have some activities in your account like deposits or withdrawals. If you haven't done neither of the two, you'll be in trouble, the money you have saved there for not doing any activities and will be classified as dormant bank account.

[XOOMBOX]

You know what, a lending business may not work as easy as it is just like you imagined. There's higher risk of losing, especially if you trusted the wrong persons to be your clients. For sure, they may be good payers at first but eventually, when their own funds get tight, they will start making excuses until they won't be paying regularly then. Aside that it's hassle and risky, its also stressful waiting for your clients when they will finally pay in full especially if the are already in past dues.

Don't mix up your emergency funds with investment funds. They should be separate always to avoid future troubles and issues.

In today's market  small or personal loan business seems easy from the outside but in reality it is just as complicated because even those you consider trustworthy can get under financial pressure and make late payments over time and this is seen a lot. Even if you get paid regularly at first then later they try to avoid to give you money with various excuses and that's when the trouble starts and then not only the risk of money but also the mental stress is created then every day you have to think about who will pay you the money and when and who to call.
And also if emergency funds and investment money are mixed together then the situation can get worse because if you don't have money in hand during an emergency then your own problems will increase and so in my opinion keeping the two types of funds separate is actually ensuring your own safety.

So it is very important to keep risk management clearly in mind before entering the trading business.

[DanWalker]

There are people that are not good in any investments, they prefer to keep it in the banks. But they will have to adjust with that later on after realizing that it's only devaluing because of inflation.

And those who keeps their money in the bank and they don't touch it for so long, they might face problem with it.

Because for most banks, they have the policy that you need to have some activities in your account like deposits or withdrawals. If you haven't done neither of the two, you'll be in trouble, the money you have saved there for not doing any activities and will be classified as dormant bank account.

This is not true, it will depend on your bank account type. If you open a savings account and use it to save, your money will be safe even if you don't use it for years. On the contrary, if you open a standard checking account, your account will have problems if it is not used for a long time. But even then, your money won't be lost and getting it back isn't too difficult. Just follow the bank's regulations, provide the relevant documents and you will easily get your account and money back.

[LeyMonte]

And also if emergency funds and investment money are mixed together then the situation can get worse because if you don't have money in hand during an emergency then your own problems will increase and so in my opinion keeping the two types of funds separate is actually ensuring your own safety.

It is necessary to keep both emergency fund and investment fund separate. If these two are mixed together, then you may have problems during times of danger because you will not have time to think about them separately. It is better to keep emergency fund and investment fund separate. Depending on your daily needs, you can enjoy both separately without any hassle. Use emergency fund for emergencies and when you live a normal life, there is no need to use emergency fund. If you can think of both separately, then it is enough for your own protection and to overcome bad situations.