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Thursday

Money in the Bank: Regular Savings Culture is Good but Investment is Better!

Each time I remember the folly of a man who rather usurped and
willfully exchange his position for money, I always feel angry and
resentful towards such a foolish and greedy kind of lifestyle. What
really happened was that about couples of centuries ago, there was a
particular rich farmer, who was very rich in almost everything you can
think of by then. He used to have a particular safe or whatever they
may be calling it then, all I know is that the purpose was to keep
money in the house.


And so this man began to store his money inside
this particular safe, and would not for once spend a dime from the
money; neither will he share it with his wife nor his children.
Friends came for financial leverage to see if he could loan them in
order to boost their business but turned them down. For him to spend
the money on himself is a great deal of problem. All he was busy doing
was the storage of the money into the safe. One day however, no one
knew how he managed to summon courage by opening his safe. But to his
amazement, what he saw dust. He saw the dust that termites had helped
him reduced the money into, and then he started crying and collapsed
lamenting that all his labor had been wasted.
            The illustrated story above still holds a contemporary
relevance, in our expenditures, in our daily interaction and
transactions, as well as our financial decision making. Today we have
a lot of assets that have liquidated and depreciated both in value and
in worth as a result of greed towards accumulation of liquid
capital. It is rather too saddening today that most of the rich men
and well to do personalities we have in our societies are not helping
matters at all. We have some of them that have tons of billions of
dollars in their bank accounts without utilizing it to make a change
in the society, and yet people will be saying there is poverty in the
society. This amount of money that should have been used to create job
opportunities through the use of industrialization scheme in the
nations and in the world at large is what they have rather kept in the
bank for selfish purpose thereby enriching the financial purse of the
merchants.
         What can really change the financial status of any
individual or nation is by having an idea or ideas that can bring
about evolution in their economic system through the use of
sophisticated industrialization scheme. If rich people are advised
alongside the average class people in the society that they should be
business minded and stop keeping their money that is supposed to be in
circulating system of the nation in the bank, I think things will
change at this dimension. You will be surprised at the amount of money
that some are keeping in the bank at a fixed deposit account in the
bank.

This is the equivalent amount that someone who is business
minded could have used to benefit the lives of many in the society by
creating jobs. Though this deposited amount is somehow being
compensated by the banks or the merchants but only attracts pittance
when compared with what the money would have turned into if allowed to
be in circulation.  And with this understanding, we are using this
medium to create awareness that everybody especially the rich in the
society must be business minded or else they will lose their money
just like the man in our story lost everything in the hands of his
supposed bank. The money you keep in the bank based only on pittance
interest will depreciate in-considerably and you will be surprised that
someone you were once richer than before is now richer than you.
          I will never want to indict or condemn everybody ignorantly
through this article, because I know there are some who have the mind
of investing their money into something meaningful in order to benefit
the lives of many in the society. But the problem is that they just don't
know how.


Regards,

Eniola Adewale
CEO WazobiaBlog.com
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