“Take that to the bank!!”

I won’t , I can’t.. and I will not save. Simple. I don’t save. Saving money is not my thing. Don’t judge. I speak for me. Will explain further for those who are thinking. “What’s up with this guy”

Those rainy days

Have you noticed the amount of rainfall we’ve been having in the Northeastern US? I’ve never seen so much rainfall here nor humidity this time in a long time. Is this due to the storm in the South? Maybe. Global warming. Perhaps. But it’s too much rain. I mean. Almost a few times a week. That’s too much for Summer I believe. Spring is for rainfall. Summer is for sunshine. Someone said that we need the rain. Yes we do but not that frequently.  What has that got to do with savings? You asked. Here is the reason. As the saying goes, “Save for a rainy day!!” For those who can….. must do.  But my reasons are solid over others whose reasons are not that good.

The reason why

Let’s talk about those rainy days. “The rainy days” are the mataphor for tough times. These are the times where your savings save the day. Not many Americans have the expendable cash to save. Most are living from paycheck to paycheck. Some will probably love to save money but cannot. Getting by for them.. is mostly on tap these days than saving money. But for those who can save, some are good at it. By the way, what is the deal with the unemployment benefits the government promised. Some are saying that they haven’t gotten paid for weeks, others are saying the payments are not on time. What’s going on Mr Government.

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I can tell you many reasons why I’m not into saving money. Let me state just one here. Mind you, it’s not that  I never put away money when necessary. Let me repeat, when necessary.  Savings are a little too accessible to me. My rainy days come too often. I tend to dabble too much in cash due to the fact that I fund my own ventures online and off and always in need of cash. Even though I will use other sources for funding[See my past blog] “Cheap” Financial Officer(CFO) Those rainy day events are my troubles. Good troubles at best. You can say, I don’t save, I invest my money instead. Speaking of which, those stocks, bonds, cryptocurrency will do just fine. My choice for “a- rainy- day- stash-away-per-se”

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Savings over investing

What I’m about to say now is not a recommendation for savings or investing….or about giving advice on  how to manage your money.

Savings are for amateurs. You don’t get much if saving with a traditional bank.  There are limited to no risk involve here.  You just put your money away and forget it. I get really bored just staring at my money and the “pennies” they gain along the way. I don’t mind pennies, I don’t need the banks to give them to me in exchange for [them] getting rich off my dollars. I rarely invest in banks. Too cyclical and too predicable for me. Wait a minute, isn’t investing in cryptocurrency highly volatile? More or less. But  cryptocurrency is my thing and we are not talking about crypto today.

Investing gives me more bang for my bucks, more risks, more rewards(boring at times), well at least I can make some very high returns here. Better yet, I’m in control if I manage my stocks/bonds myself. With banks, you don’t have any leverage at all but to watch your pennies tearfully grow.

The choice

So whether you are a saver or an investor it is your choice to make. If you are the less risky type of person and you want a safe place to park your money. So be it. Bank is your thing. Listen, if you are holding a significant amount of money, the interest rate of a bank may suffice. There are also Money Market accounts that gives you a higher rate than the traditional savings accounts. I’ve held Money Market accounts in the past which are not too bad since they are penalties if you withdraw your money too soon.

I take risks in investing but I’m more conservative. I look more at value over risk. It’s fun to see my money grow so I practice diversification. There are long term and short term investing in my arsenal. Saving is just not the thing for me. Again, it’s too boring. As the saying goes, “You can take that to the bank….and cash it”…Yeah, I’ll be cashing it alright, but I will refuse to give it back to the bank for safe keeping.

Enjoy the weekend folks

Don’t forget to check out my other site at http://www.ap24hoursonline.blogspot.com for “featured apps plus other online opportunity and new post on Mondays

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