The value of money is in spending it.

[Bityar]

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?

You are saying true I understand a person saving money is ok but if it lie inside bank account or some thing like in treasure in his house and not even paying on his health or some necessities in his life so then this money holds no value. True power of money cames when you help some needy persons or improve your own lives. Life is short so instead of saving money like some peoples are greedy and they only want to save money more and more so instead of that saving you should help someone. Saving money is important but a person save that money for himself to enjoy on it to spend on his family their healthcare and their other necessities. There are some peoples who spends almost on nothing but wants to invest their money just for saving till last and will not even spend on their health.

[9ja Amaka]

How one spend his money is important. Its not always about spending upon spending. Spending on essential thing should be the top priority.

If money is left in the bank for a long time and does not generate any profit from that money, then its purchasing power may decrease over time due to inflation. The amount of goods or services that can be purchased with the same amount of money today may not be able to be purchased with the same amount of money in a few years. However the value of money is not limited to making a profit alone. Being able to use it when needed and maintaining financial security are equally important.

It is better that way. I'd rather keep the money in an account than spend it on unnecessary things.
People keep money in a bank on purpose. The money is meant for business, investment, and project purposes.
My personal opinion regarding how to spend money never changed. If it's not important, don't spend money on it.

[passwordnow]

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.

I like to be in that position of having money in the bank and not spend it rather than don't have money and want to spend it. It differs per situation of which one is the best. But if someone has that money idle in the bank, there can be reasons why they don't want to spend it. In this economy, it's best to have more cash than not to have it. Because the continuous price increase of goods will make you want to have more of it. And if you don't have it, that limits your motion and you'll have problems to deal with that money can easily solve it whether you have it on the bank or from other source.

[Taricoins]

Sometimes I pity people that don't have the versatile knowledge of investing money instead of keeping it at the bank got it to lose value, there is no difference between those set of people and those that buries there money underground, thanks to knowledge we know the true value of money comes from purchasing needs and saving them  to get interest as investment.

[Su-asa]

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.

The value of money is in spending it but also that's not the only thing that is valuable about money, it is important that you also understand how money becomes a means for you to make money and not just about spending it alone, this is a mistake that a lot of people make, that's the reason why they end up being in debt or going broke because they focus more on spending and not making any investment.

[Franctoshi]

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 value of money is what money can buy; money is just paper until you use it to purchase something, food, goods, or valuables. The game of wealth is a game of asset acquisition, not your billions sitting in the bank; it's about what your money has helped you achieve. That's what differentiates a rich person and a poor person. When talking about rich people, what you would see in common with them is things they own: land, properties, businesses, cars, houses, assets, digital or physical assets, etc.

[iDEEMEE]

It's actually a two way thing, having money saved in the bank that receives daily profit is a wise choice because your money is not totally buried, also using your money to buy things ( which you considered wise) may not
 be completely wise if what is purchased is a complete liability yes you may have gotten instant value for your money but it has no futuristic return on it.

But a money spent on assets is wiser because you can exchange or sell it off in the future if need be for a higher value than when it was purchased. Money well used all depends on the individuals current situation and what he or she considers best at that moment of decision. Though holistically money saved should bring in interest and money spent should be on assets.

[aoluain]

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?

Well the OP is only partially right in both circumstances. Yea having money in the bank for
long term in one hand is not a smart move because the government are weakening it with inflation.
on the other hand spending everything you have is not a smart move either.

Everyone should be thinking about their future finances, what if they lose their employment
and cannot provide their daily needs for themselves without savings? not smart.

[Versatile_choice]

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 truth is no normal human being will lock his or her money in the bank for no good reason, those who lock their money in the bank is either they have something important to do with it in the future such as starting up a business with it or something like that. It is only a fool that will lock up his or her money in the bank for no reason, Because it is either they are leaving it for inflation to come eat it up or they want the bank to use it for business, and leaving it for any of this reasons doesn't make sense. personally I would rather Invest my money in bitcoin or I start up a business with it no matter how small the capital turns out to be rather than saving my money in the bank because inflation might come one day and just eat it up.

[AYOBA]

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 don’t think there’s any difference between those that have money and lock it down just for saving and they don’t have any plan to do with money, with those that don’t have money you see that their living the same life. Because those people that the money they don’t have any plan talk less of spending, but the people that have and they can’t afford to spend you can see that there’s not single difference between them.

This thread call my attention to the people that are very rich but they can’t chop their money and they will not give their family in order for them to live in a better life. I ever heard about one story about one man that his saving money under their bed, and any time his wife ask him about what they will chop his always complaining that he doesn’t have money.
Then one day his wife decided to move the bed to outside, because the bed is very old suddenly the wife saw the money under the bed the wife was very shocked after she saw the money.

The only thing that she was repeating a moment she saw the money; is not the same man that she’s asking for the money to buy food and complaining that he doesn’t have any money have such huge amounts of savings under bed, I wonder how some will be wicked themselves and their families.

[Odogwu-Blockchain]

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?

Dating from history that what really matters to humanity is food, clothing and shelter. If these three needs are cleared daily, then you are capable of leaving a good life. In addition, if there is a passive income that clears these three needs without complaints despite the location and luxuriously the shelter maybe, if the income can sustain them for a very long time, then you are are spending money.

If there is an extra additional money that remains after catering for these three needs, and the extra could be stored in bank for longer period of time, that's still a good plan for money.

But if there is money, and you are scared to leave fully with the three basic needs of life, then I'll say such person has not fully understand life and what it means.

[samadam007]

The truth is no normal human being will lock his or her money in the bank for no good reason, those who lock their money in the bank is either they have something important to do with it in the future such as starting up a business with it or something like that. It is only a fool that will lock up his or her money in the bank for no reason, Because it is either they are leaving it for inflation to come eat it up or they want the bank to use it for business, and leaving it for any of this reasons doesn't make sense. personally I would rather Invest my money in bitcoin or I start up a business with it no matter how small the capital turns out to be rather than saving my money in the bank because inflation might come one day and just eat it up.

You can’t call them fools just like that. Everyone has different goals in life and financial situation, forcing something they’re not interested in down their throat is not right.

Since we’re all responsible for our finances, some folks may feel they’re financially stable enough and decide to just focus on building savings from what is left from their income, without plan on what to do with it. Maybe lock it where it will keep generating interest until he decide what to do with it. Improving your saving habit is good because it will help you to manage your cashflow well.

[Grace333]

The whole essence of making money is for it to be spent but at the same time this doesn't mean that money is made by spending it. If you only spend and don't think of how the money you spend is going to be replaced then you are doing the wrong thing. Money is only increased when you multiply what you have therefore when it's spent you can keep building a source of income, anything asides this will make you poor.

[Lucano]

The situation is certainly different for each person. Some people keep a lot of money in the bank because they have guaranteed their finances are fine. This is clearly different from those who have no money. Idle money is not always detrimental, and managed money is not always profitable. So it all depends on the situation and one's finances.

[DiMarxist]

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?

Money is ment to be put into good use, that is why every Money that you make should be put into productive use that should add value to your life economically and other wise. Money that is kept idle at home or even on the bank is not solving any problem, this translate to not the money solving a problem which will lead to the creation of wealth.

Most times it's stolen money that criminal gangs and even politicians will dumb on the bank for years with out going to touch it. As they are trying to avoid any suspecion from the government.

[Unknown Op]

~~~

What is your take on this?

Money is something that we can use to improve the living standards of our life but that does not mean spending money is the only way we can value it and we can get where you from it. Saving money gives Independence, financial stability and security during any sort of emergency and it also helps us to be prepared for any future opportunity. There are people who spend everything that they earn today; they enjoy the present but they have to struggle whenever any sort of unexpected problem arises, and they need money for that. The real value of money comes from having financial knowledge and knowing where to spend money, when it is necessary to spend it, when to save and when to invest it to get profit. If someone has money and it sits idle, then it loses purchasing power with the passage of time but if someone is saving money with a clear goal in mind, then it is not wasted. The best way is to enjoy the money that we earn today without sacrificing the financial security of tomorrow.

[snowpega]

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 no doubt that if you are the one who is saving your money in banks for the sake of one day you will use it, then I personally think that this is just a big stupidity. One should first use one's own earned money to enjoy life, and whatever you spend is yours, and whatever you leave behind, you are not sure you will be able to use it one day. Other than this, after spending, if you still have discretionary income, then I still would not recommend saving it in banks in the form of fiat because money loses its value over time due to many factors, and inflation is one of them.

Rather than saving money in banks i personally believe that one should save money in valueable assets, like gold, bitcoin, real estat, it totally depends on one research what he finds better. But saving money in banks is really worth nothing, in my point of view, at the end of the day. This is my point of view. DYOR! CMIIW!

[Obari]

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's difference between investment and savings and that why I don't have to say much on this thread because everything about this topic will be determined by the owner of the money and reason to why and what his doing with his money.
I understand that a lot of us would always prefer to invest our money rather than holding it but frankly, there are several reasons why a person might just be saving his money without immediately using it and that is why I have learnt not to judge people from my own opinion but rather ask them personally if I'm really concerned about it because I wouldn't jump into conclusions that, those who just out there money in the bank are letting it sit there idle because I believe one might be gathering the money until it reaches a particular amount before using it which doesn't mean the money is seated idle.

[CryptopreneurBrainboss]

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.

Money is supposed to be moving that's why it's called a currency because it's supposed to be flowing. You don't hoard money but put  it into a system that makes it to be able to flow and multiply itself so as to keep you rich and not lacking money. Saving hoards money but investing puts money in a constant flow state that makes you more money so although money is supposed to be spent but how youbl spend it determines if the money stays with you or depart you because you don't know how to make use of it. Money will always flow from someone who isn't solving a problem to those solving a problem through their services or the products they're selling that's why the entrepreneurs and business man are getting more wealth while he rest of us keep complaining of not having money. Spending your money doesn't mean you should waste it instead put them to work so they can work for you and make you more money then  you can spend them on some wants.

[Queentoshi]

But if there is money, and you are scared to leave fully with the three basic needs of life, then I'll say such person has not fully understand life and what it means.

It is just one life to live and to often live it to the fullest you need to be able to have a mindset that allows you to spend the money that you've invested your time in making because some people are very good with trying to make money but very bad at spending that money especially on themselves which I feel is a very big challenge that needs to be discussed openly because if you work hard enough to make money you should be able and also comfortable enough to spend and enjoy it Because if you decide to want to save up all the money in a bank your next of kin can squander it all in a day just after your demise. So i agree, that the value money has is when you spend it, and what you spend it on.