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Should people spend more of their money or save more of their money?



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 1 month ago '15        #1
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bourne1978 
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Should people spend more of their money or save more of their money?
 

 
Wouldn't it overall better the economy if people spent more of their money?

I personally think saving money fu*ks up the economy. Anyone else think this?
+3   



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 1 month ago '11        #2
Joseph  topics gone triple plat - Number 1 spot x1
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There's nothing much to spend money on. I don't even want to spend money on unnecessary things until this coronavirus stuff has come to a complete end. Socializing and going places has been lame and watered down since quarantine initially started.
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 1 month ago '04        #3
term0il 
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People spending more could help but I dont think it would have much effect due to the big bois collecting those profits and hoarding more of the wealth.

Saving is a scam but your local bank would love to tell you its not. Definitely spend that shii, but wisely. Just hold 3-6 months expenses, and find a way to multiply the rest or buy shii you like.
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 1 month ago '21        #4
LuxG2 
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Accounting Student Team Leader here…you are correct, if you notice little by little banks & institutions are getting people to invest rather than savings accounts.
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 1 month ago '06        #5
cleavon15  topics gone triple plat - Number 1 spot x4
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 LuxG2 said
Accounting Student Team Leader here…you are correct, if you notice little by little banks & institutions are getting people to invest rather than savings accounts.
Have to dig a little deeper than that. It’s partly to do with how the economy is doing. Inflation. Inflation. Inflation.

Look at the FED rate. That’s determining the bank rate

At this point, you get nothing for putting in savings. You’re “losing” money anyway.

. Adjusting the federal funds rate is the Fed’s primary tool for doing its official two-prong job: keeping consumer price inflation around a 2 percent target and the economy at full employment. Here’s how it works:
Increasing the federal funds rate tends to reduce inflation and cool the economy;
Reducing the federal funds rate tends to increase inflation and stimulate the economy.
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 1 month ago '18        #6
BrooklynDamien  topics gone triple plat - Number 1 spot x2
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Right now you should buy anything that could hold value, the dollar will be worth less next year than it is this year. Find things that you would be able to sell later for something instead of holding cash. Buying a cash life insurance policy you can borrow against would be a good idea...
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 1 month ago '05        #7
That Dude 
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what kinda dumb a*s sh*t is this??
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 1 month ago '04        #8
$ouljaboy 
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I say both are needed. Buying does help the economy, but you definitely need to save. Look at those who didnt and how they have fared through this pandemic.
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 1 month ago '15        #9
Tripsev 
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 Joseph said
There's nothing much to spend money on. I don't even want to spend money on unnecessary things until this coronavirus stuff has come to a complete end. Socializing and going places has been lame and watered down since quarantine initially started.
Yikes. Corona really rocked your world like that bruh? I blew hella money, had a sh*t ton of fun and adventures, and met a ton of new people. Also never got sick…
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 1 month ago '18        #10
Fumo617 
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Invest more. Saving never makes you rich
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 1 month ago '14        #11
familybuster 
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 cleavon15 said
Have to dig a little deeper than that. It’s partly to do with how the economy is doing. Inflation. Inflation. Inflation.

Look at the FED rate. That’s determining the bank rate

At this point, you get nothing for putting in savings. You’re “losing” money anyway.
Sometimes I feel like this. Then I feel like there is a reason they want me to feel like this.

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 1 month ago '06        #12
cleavon15  topics gone triple plat - Number 1 spot x4
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 familybuster said
Sometimes I feel like this. Then I feel like there is a reason they want me to feel like this.

I have no rebuttal. All I can do is say thank you for the laugh and prop it.
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 1 month ago '11        #13
Joseph  topics gone triple plat - Number 1 spot x1
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 Tripsev said
Yikes. Corona really rocked your world like that bruh? I blew hella money, had a sh*t ton of fun and adventures, and met a ton of new people. Also never got sick…
I didn't get sick or go broke. Social distancing has made life lame.

 1 month ago '21        #14
LuxG2 
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 $ouljaboy said
I say both are needed. Buying does help the economy, but you definitely need to save. Look at those who didnt and how they have fared through this pandemic.
Facts but he is specifically talking about the economy & I know from my classes banks made millions from taking homes back, repoing cars. So the economy doesn’t care if some people didn’t make it threw this banddemic because others gained more to replace those people.

 1 month ago '15        #15
Tripsev 
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 Joseph said
I didn't get sick or go broke. Social distancing has made life lame.
Nah. Life been beautiful, gotta learn to pay attention to only what you can control.
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 1 month ago '04        #16
$ouljaboy 
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 Fumo617 said
Invest more. Saving never makes you rich
True but you still should be somewhat liquid meaning you have to have money on hand bc you never know what will come up
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 4 weeks ago '17        #17
Petieparker 
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I save money but only saving 3 to 6 months worth just incase sh*t hits the fan. Majority of the money goes into investments and bills.



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