Nov 5, 2009

Saving is for Suckers

Lately I find myself very interested in understanding how my money and the economy works! I honestly believe understanding how your credit works and learning how to invest your money should be thought in high school instead of algebra! Now these are things that would benefit us as adults not instead of learning why E=MC2!!!

I just learned that instead of saving your money you should invest it. Main reason being when we put our money in the bank we lend it to the bank at a rate of about 1%, our bank in turn lends OUR money to the government for 4%, to big companies at 6% or to smaller companies for 8% or more!! These banks are profiting off of our money and we in turn get NOTHING!! Let me do add that this strictly applies to the currenct economic state that our economy is in.

Please read the following article so that the author (Jon Markman) can break it down for you in more technical terms:

He suggests ways to start investing your money because as of right now "investing will get you a lot further than saving". I am definitely going to look into this!

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