The value of money is in spending it.

[7juju]

Having money is good, it brings a differently compared with those that don’t have money. But I think there’s no difference between those the people that have money and lock it away in the bank, and those that don’t have money. A money lock away in a safe, without plans of making use of it, is of no value to you.
Those that spend the little they earned on things they need are actually the ones deriving the value of money. It is better you don’t have money than have money don’t use, that are sitting idle in the bank for years without being used.

What is your take on this?

[PostQuantumBTC]

Some people are in a country that their fiat is not really declining in value and the banks give higher interest like 10 to 20% which can make some of them think that saving the money in bank and fixed it can be good.

I also do not like my money to be in the bank. I prefer to use it to invest in something like bitcoin and stocks.

Businesses are the best if you see a lucrative business to do with it and earn more.

[bitmover]

Having money is good, it brings a differently compared with those that don’t have money. But I think there’s no difference between those the people that have money and lock it away in the bank, and those that don’t have money. A money lock away in a safe, without plans of making use of it, is of no value to you.
Those that spend the little they earned on things they need are actually the ones deriving the value of money. It is better you don’t have money than have money don’t use, that are sitting idle in the bank for years without being used.

What is your take on this?

Wealth is what you cant see. Rich people might life a very simple life

Every dollar you can and invest wisely will work for you, multiplying itself.

Ofc you need to spend it evenly, dying with money is just stupid.

[Makus]

Spending money shows how valuable it is but it is not completely accurate, if all a person does is to spend money without creating a means to make more money then the real value of money is not really shown. People who have a plan to become wealthy in the future don't just spend money without making sure that what they spend is being replaced. A lot of people end up falling back to being broke after becoming rich all because they spend money without using it t as leverage to create a source of income.

[mindrust]

Having money is good, it brings a differently compared with those that don’t have money. But I think there’s no difference between those the people that have money and lock it away in the bank, and those that don’t have money. A money lock away in a safe, without plans of making use of it, is of no value to you.
Those that spend the little they earned on things they need are actually the ones deriving the value of money. It is better you don’t have money than have money don’t use, that are sitting idle in the bank for years without being used.

What is your take on this?

There is a perfect quote for this exact situation:

"You gotta SPEND money to make munney."

Save save save, yes it grows that way too but you know how it grows even faster? When you spend cleverly.

If you spend your money on income producing assets instead of liabilities, eventually you'll set up a machine that exhales CASH. It inhales CASH too but then it exhales even more than what it consumed.

That's fellas what we call... INVESTING.

[SuperBitMan]

Locking your money up in the bank is also an investment that gives some return, there are people who are very rich and they have huge amount of money that they really don’t want to use immediately what they do is to put it in fix deposit in the bank and every day or every month the bank tops or add some money to it, because the bank uses that money to run an investment or business.
So any money that is sitting on the bank is not a waste it is also bringing in more money. However, this is only for those who put their money on fix deposit and request for interest for the money they deposited that will last or stay in the bank for some years

If is not on fix deposit or no interest is coming to you then the money is not valuable.

[Pi-network314159]

Having money is good, it brings a differently compared with those that don’t have money. But I think there’s no difference between those the people that have money and lock it away in the bank, and those that don’t have money. A money lock away in a safe, without plans of making use of it, is of no value to you.
Those that spend the little they earned on things they need are actually the ones deriving the value of money. It is better you don’t have money than have money don’t use, that are sitting idle in the bank for years without being used.

What is your take on this?

the fact is that money is meant to be spent, but needs to be spent wisely. It is better to save money now and use it wisely in the future than spending unnecessarily today and regret tomorrow. Some people have the opportunity to use their money wisely but they never did instead they lavished it on things that doesn't matter while some saved and managed themselves till they have a better plan to use it. Those that save money are not fools, they do it on purpose so that they can use it to solve emergency tomorrow or use it to aquire asset and or buy some distress property. In fact there are many usage of money saved in the bank. No one saves money for Saving sake without plan. It must definitely be for something useful in the future.

[rachael9385]

Having money is good, it brings a differently compared with those that don’t have money. But I think there’s no difference between those the people that have money and lock it away in the bank, and those that don’t have money. A money lock away in a safe, without plans of making use of it, is of no value to you.

Locking an amount of money in a safe without having a plan for it is simply savings and there is no point in keeping money in your bank account for a long period of time if you have no plan for it because in the long run when inflation hits the amount of money you have in your bank account would lose value.

Those that spend the little they earned on things they need are actually the ones deriving the value of money. It is better you don’t have money than have money don’t use, that are sitting idle in the bank for years without being used.
What is your take on this?

Good point, what's the use of money if you cannot use it to make more money, asides from the essential or basic things needed for survival or for your day to day expenses spending money doesn't really doesn't add value, when we talk about adding value it means that what you have increases. Whether it sits idle in your account or only spent on other things it does not bring value in the long run.

[Rruchi man]

A money lock away in a safe, without plans of making use of it, is of no value to you.
Those that spend the little they earned on things they need are actually the ones deriving the value of money. It is better you don’t have money than have money don’t use, that are sitting idle in the bank for years without being used.

The money that has been kept away, either in savings or with no use been allocated to it, will surely have a use allocated to it tomorrow, either for investment or to solve a need, and when the money has been used for a purpose, be it investment or to solve a need, that gives it value. So saving money does not really devalue the money; it just keeps the value of the money subject to a new set of conditions.

[slapper]

A money lock away in a safe, without plans of making use of it, is of no value to you.

I cannot agree with this one. Keeping some money aside still does a job. Keynes called this the "precautionary motive". Your future income is uncertain. Nobody warns you in advance when money gets tight. So it's just good common sense to have some savings to fall back on. With savings, you could afford to move if your landlord suddenly hiked up the rent by 30%! We can't exactly put a dollar figure on that. But a worker with no savings feels its absence every month, even if he doesn't have the words to describe it.

And banks don't just hoard money. They circulate it. They lend it out. Someone uses it to open a store. Someone else borrows on credit to buy a car, and on and on. That money keeps moving all the time. You're just not the one spending it.

I do agree on one thing though. Some people die at 70, if not older, with huge accounts. They never took a trip because they were saving for later. They never fixed the roof when it leaked. They never helped their kids in moments of need. I think that's sad. But that comes from fear, not from saving.

So spend money on what you need. Just keep a bit saved for a rainy day.

[Noorooo]

Having money is good, it brings a differently compared with those that don’t have money. But I think there’s no difference between those the people that have money and lock it away in the bank, and those that don’t have money. A money lock away in a safe, without plans of making use of it, is of no value to you.
Those that spend the little they earned on things they need are actually the ones deriving the value of money. It is better you don’t have money than have money don’t use, that are sitting idle in the bank for years without being used.

What is your take on this?

I totally agree with u that u should spend money on yourself rather than just keep it in the bank for years. Otherwise u will be no different from a person who has no money. But I also think that saving money is important. U should first save money for your emergency fund and then u can spend the rest of your money on whatever u like,  starting a business, investing, or something else.But everyone first priority should be their emergency fund.Thats my mentality.

[MorganaX]

I think for a very long time, this set of scenarios is what we have been fighting against by making people become aware in this forum, first those people leaving their money I'm banks are devaluing the money they have struggled for and it will come to a time that that money won't yield the value it was acquired from becomes the wonderful phenomenon called inflation. Spending money is better than hoarding it but still not the best. Like they have mention a million times, LET YOUR MONEY WORK FOR YOU

[decodx]

<...>
It is better you don’t have money than have money don’t use, that are sitting idle in the bank for years without being used.

Sorry, but how is it better not to have money? That makes absolutely no sense.

To compare someone who has cash sitting in the bank or under the mattress with some schmuck who is flat broke is pure BS. Money in the bank or in the safe isn't "useless" - it's your buffer. It's your security, and gives you options.

What if the emergency "comes up" unexpectedly? Would you rather be completely broke, or have "reserves" sitting in the bank?...

[Woodie]

Having money is good, it brings a differently compared with those that don’t have money. But I think there’s no difference between those the people that have money and lock it away in the bank, and those that don’t have money. A money lock away in a safe, without plans of making use of it, is of no value to you.

Wrong money concept, people with money don't keep money in the bank doing nothing..these guys use money to make money for example, this could be an investment in bonds, could be an investment in gold , bitcoin or other assets out there..but keeping money in the bank is out of their options.

Those that spend the little they earned on things they need are actually the ones deriving the value of money. It is better you don’t have money than have money don’t use, that are sitting idle in the bank for years without being used.

What is your take on this?

This is almost sounding like a Rich Vs poor topic, here is the truth money calls for despline if you can manage to keep it and grow it then you successfully know how to grow money while people who haven't mastered the managing of money actually go as far as filing for bankruptcy even though some do it to fool the system... Trump our Rich president has been on this road for example inspite being a money guy (dragon).

[Cryptomultiplier]

<...>
It is better you don’t have money than have money don’t use, that are sitting idle in the bank for years without being used.

Sorry, but how is it better not to have money? That makes absolutely no sense.

To compare someone who has cash sitting in the bank or under the mattress with some schmuck who is flat broke is pure BS. Money in the bank or in the safe isn't "useless" - it's your buffer. It's your security, and gives you options.

What if the emergency "comes up" unexpectedly? Would you rather be completely broke, or have "reserves" sitting in the bank?...

Good points to ponder upon you brought up, because anyone who is broke is at the mercy of the weather, the people around him, the institutions and even their own knowledge and ideas.

It is when a dire situation arise and you are broke that you know how hard it is to borrow funds. Emergency situations would always be a problem and inflation wouldn't make it any easier.

So it's better to even save money in the bank if saving in Bitcoin that has value is a problem, than not save at all.
The best option though is to spend money to invest in what would bring profit or increase the investment measurably.

[Hypnotizer]

Having money is good, it brings a differently compared with those that don’t have money. But I think there’s no difference between those the people that have money and lock it away in the bank, and those that don’t have money.

There’s a lot of difference actually..

Having money lock up in a bank most definitely in majority of cases means you have enough to substantially provide for yourself and your family, whereas not having money means you need can’t afford to provide enough for your family and self. That’s a lot of difference if you look at it.

Am I getting your point wrong? 

A money lock away in a safe, without plans of making use of it, is of no value to you.
~

You might use it in the future.. though the purchasing power might decrease but it’s still money right?

[Oasisman]

Having money is good, it brings a differently compared with those that don’t have money. But I think there’s no difference between those the people that have money and lock it away in the bank, and those that don’t have money. A money lock away in a safe, without plans of making use of it, is of no value to you.
Those that spend the little they earned on things they need are actually the ones deriving the value of money. It is better you don’t have money than have money don’t use, that are sitting idle in the bank for years without being used.

What is your take on this?

I get your point.
We have this saying that "one cannot bring their wealth to heaven, or wherever you will go when you die". So, young people here tend to spend their money on things they enjoy while they are still physically and mentally able to earn back what they spent. Most of them are afraid of dying early without them savoring the real value of their money sitting at the bank. This is the YOLO mindset.

But to be fair with those people who have been putting all their hard earned money in the bank for savings, emergencies, and whatever purposes in the future it was intended for, it's their preference. Their money could still grow with the annual interest, but inflation might also eat it up. So, it is wiser to just put it on an investment that could potentially multiply the money in a few years or can generate a long term passive income.

This is just a matter of preference.

[Solodoski]

The value of money is definitely in spending it. I would not have money and let it sit in a bank without making use of it. I think that is foolishness,  because the bank is using your money to make money and they give you peanut as interest. I think if you have money, the best thing to do is to invest your money and make it work for you rather than it just sitting in the bank and thi k the interest you are getting is good enough.  Wealthy people don't just keep their money in banks, rather they use their money for investment and generate more money for themselves and have enough to live the luxury life we all admire.

[Jostle]

People feel safe about having the money in the bank. It's a "reserve" they can tap on, in times of crisis. There is value in having peace of mind. Fiat may not be the best store of value, but if you are in a country with a stable government and good governance, your fiat will not depreciate as fast as being in a corrupted country (in which case, the best thing you could do is to buy some stronger store of value).

[Coyster]

But I think there’s no difference between those the people that have money and lock it away in the bank, and those that don’t have money.

Lol, the difference is that one person can always access their money anytime they need to and spend it, but the other would most likely need a loan when they run into an emergency situation.

I do not know how you came about this idea, but it does not make sense. While saving money in the bank isn't the best way to earn on your money, as the value is slowly eaten away through inflation, but it is certainly better to have it in the bank, than to have it nowhere. Money in the bank is highly liquid, so it's always at your disposal in a matter of seconds.