Where does cash fit in to your plan to create wealth? Many of us learn the basics of saving money by putting cash into a bank account and watching it earn interest.
But without ever investing cash in different ways, Finance Expert Sarah Reigelhuth says this will just result in you going broke slowly and safely! In this video she explains why simply saving your money doesn’t equate to capital growth. While your dollar will gain interest, its worth will always remain the same, not allowing for inflation or interest on income tax.
Sarah points out that while the safety factor of having cash in the bank is a great feeling, it isn’t going to make you wealthy. Which alternatives WILL help you build your wealth? Hit ‘play’ to find out.
‘Please note this content is of a general nature and should be used for informational and educational interest purposes only. Please seek professional advice, in relation to your own personal circumstances, before making any financial decisions.’
How did you learn your ‘savings techniques’ as a kid? Let us know your tips in the comments below!