Spending money or saving money. Read below?
Sunday, December 6th, 2009 at
10:13 am
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Tagged with: Amp • Crap • Economic Engine • Economy • Health • Money Saving • retirement • saving money • Shambles • Spending Money
Filed under: Money Saving Tips
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Well, if you save for retirement, you should place your money in an IRA. This helps the nation, which is why you receive tax breaks for doing so. The money you place in the IRA gains interest for yourself, which is excellent, and can be used in the interim by banks to loan out to consumers, in which the banks make money by charging the interest back to the consumer who initiated the loan. If you are saving money by putting it into any type of bank account, whether it be a CD, saving account, whatever… you are helping the nation. Likewise, if you don’t save and just spend, you are helping the nation. If you save your money in a mayo jar and bury it in the patch, you are not helping the nation, or yourself.