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Why saving money is a bad idea

#1 Reason saving money is a bad idea

Low bank interest returns

A quick Google search for “best interest for savings accounts” has this information ready for me

Huntington Higher Interest Savings account 2.32% APY
First ranking via an ad

This a six introductory rate on a Money Market Account with a minimum of $25,000 deposit.

And doesn’t pay interest on anything below this.

And get this if you have 2 million to 99 billion!!! The interest is wait for it…. 0.25%


#2 reason why saving money is a bad idea.

In a savings account there is no way for money to be working for us.


“If you don’t find a way to make money while you sleep, you will work until you die.”
— Warren Buffett

Locking money up in a savings account is the same as locking a person up in prison.

Except money has done nothing wrong!

It is actually innocent. It only does what WE tell it too.

Any offenses are solely on the controller of the money. And, that is YOU.

Or, me for my case! But you get the drift.

Money is to be working for us. 0.42% return after 10 year average inflation is horrible.

You know the phrase we all love to hear.

“You got time to lean, you got time to clean.”

Just like in our jobs our employer expects a solid return on paying us.

We should expect a solid return for our money.



#3 saving money is lazy

Saving money is nothing more then sacrifice.

Investing requires diligent work.

Striving to do something more than coast by

A burning desire for better than ok



#4 reason saving money is a bad idea

Promotes scarcity mindset


With a scarcity mindset we can either spend every last cent because there won't be anymore in the future.

Or, you have to save every last cent. Thinking that money's too tight, and there will never be enough.

And the only way to protect yourself is to save every last penny you can.

This is not a good mentality to have for money.

It prohibits you from either having enough in savings to cover emergencies.

Or, just as bad never being able to put money in an investment of any sorts.

Which as Buffet said, is going to make us work until we die.



I’ve listed my top three reasons why saving money is a bad idea.

Let me know in the comments below.

Why do you think saving money is a bad idea.

My next video is:

Why should I save money?



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