“Citizens, keep your money in a savings Bank! Of course, if you have them”, warned a thief Miloslavsky, the hero of the Comedy “Ivan Vasilyevich changes occupation”. Words Miloslavsky often quote as a reference to the transfer of savings on .
The comic tone of the Board seems appropriate because packs hiding bills under the mattress and really funny: the probability of stealing again, the effect of inflation or two, lost interest three.
But is it all clear?
Cash on hand: pros
According to a recent survey conducted by the public opinion Foundation, 38% of Russians prefer to keep savings at home in cash.
People are motivated by the following reasons:
- a financial institution may lose its license (deposits up to 1 400 000 is protected by the state insurance system, however, a return amount associated with the additional hassle);
- the contribution conditions are not always willing to take accumulation at any time without loss of interest — if there is no obvious benefit, whether the cost to start a business?
Money is convenient to carry, if they are deferred for the purchase of a specific product in a relatively short time — for example, washing machines or bike.
To have some readily available amount is also convenient in case of force majeure. Nobody is insured from unexpected health problems.
Emergency reserve in dollars and euros
A separate issue is the storage of cash in the currency of other States.
In an interview to “KP” the President of the Moscow international currency Association Alexey Mamontov says:
I would advise to not even keep the money and calm the nerves, to divide their money into two or three parts. In two parts – half is in roubles, and half in foreign currency. In three parts is to choose which currency of the two, the most liquid. Liquid, that is, those currencies that you can exchange to our native roubles. It is the dollar and the Euro.
This is a classic recommendation, you’ll hear it from most authoritative experts in Finance. Division savings for the three share — good protection against fluctuations.
Dollar and Euro deposits, of course, there are, however, according to the portal “Cf.ru” (article “In what currency to save?”), “the returns on deposits in domestic currency by almost two times higher than in foreign.”
It turns out that several hundred “green” in the drawer — not that nonsense.
The stubborn fact is — without cash it is difficult to manage people who often make urgent business trip abroad. In some countries it is difficult to get local money in exchange for virtually any, but in exchange for Euro please.
Another tip for those who spend a lot of time on the roads (no matter what it’s for travel to a neighboring country or a neighboring town), always have a supply of money and bills, if there will be no ATM, and separately removed the map. The card is PIN protected — a much less attractive target for petty thieves than cash.
On the other advantages of Bank transfer read separately.