money in the bank

Specialists from one of the banks in Tomsk help resolve numerous misconceptions of Tomsk residents regarding their relationships with banks.

Myth One. Many people believe that it makes no sense to keep savings in a bank, since inflation will still “eat up” the interest on the deposit, so it is better to invest in the purchase of household appliances or a car.

Answer. Purchasing household appliances or a car should under no circumstances be considered as a way to save money. There is always a chance that equipment will break down and additional investments will be required to repair it. In the case of a car, it’s even more complicated, because... None of us are immune from road accidents and other troubles. In general, in this myth people substitute concepts. The main point is this: since you can’t save money, let’s spend it. This is completely wrong! And the main thing is that spending money and saving it are completely different strategies. If you are planning to change your car, then do it calmly. But if you don’t need it, and we are talking about saving money, and saving primarily from inflation, then there are a lot of tools that will help you do this.

The main instrument is a deposit, the most conservative banking product with guaranteed profitability. Throughout 2011, the bank deposit rate was higher than the inflation rate, and at the end of the year, bank deposits were significantly ahead of its rate. Let me remind you that at the end of the year, official inflation was 6.1%, and the interest rate on deposits in the TOP-10 banks was close to 9.5-10% per annum (the nominal interest rate, and the effective rate was even higher). Therefore, by keeping your savings in a bank you can not only save them, but also increase them.

In general, if you follow special promotions and offers from banks, it is easy to save your money from inflation. For example, only in Promsvyazbank today there are three opportunities to place money at a higher interest rate. First. Open a deposit remotely in the Internet banking system and receive an additional 0.3% to the established rate. Second. Open a seasonal deposit, it provides maximum income. Third. Take advantage of the offer and receive interest on your deposit in advance.

In addition to deposits, there are also tools for increasing funds, but they are all riskier. I always advise friends and family to “keep your eggs in different baskets”, i.e. Keep 70-80% of savings in deposits, and place the rest in riskier and, as a result, more profitable instruments: bonds, currency, unallocated metal accounts (UMA), mutual funds, etc.

The behavior of wealthy Tomsk residents also supports the argument “the deposit will increase savings.” Businessmen, business owners, and individual entrepreneurs very actively place their money in deposits. And these people, believe me, know how to count!

The main thing is to decide what life strategy to follow. I, like most experts, believe that every person should have a personal airbag. Therefore, everyone should have some amount of money “for a rainy day” and, of course, save it from inflation. It's simple, you just need to know how to do it correctly.