Thing is, with a full bank account the bank is using your money for other shit you might really prefer them not to.
If you’re lucky enough to have more money than you need, then you can still do things like invest in mutual savings societies, local non-profit organisations, direct aid, etc, depending on how little you care about the money.
That is true, and I used “bank account” as a stand-in for what I really meant, which is “financial options”. By not spending money, you have the insulation of not panicking when expenses come up, you have more general leverage over your life, and you get the peace of mind that comes with it. Of course, there are better places to PUT it than a bank account.
It’s also a virtuous circle… if you don’t spend, you don’t have as much financial stress, which means you need less distraction to take the pressure off, which means you spend less money on things you don’t really want, which means you save more.
The economy is so precarious if you don’t have 6 months of savings, plus retirement, you really should be wary of spending it.
I already know a couple of people that have been job hunting going on 4 months. That’s been very inconvenient for them. Plus let’s not even get into social security insolvency.
Although you are right you should at the very least move it so you’re getting a decent interest rate on your money.
Otherwise, I don’t think many people these days have more than they need.
Thing is, with a full bank account the bank is using your money for other shit you might really prefer them not to.
If you’re lucky enough to have more money than you need, then you can still do things like invest in mutual savings societies, local non-profit organisations, direct aid, etc, depending on how little you care about the money.
That is true, and I used “bank account” as a stand-in for what I really meant, which is “financial options”. By not spending money, you have the insulation of not panicking when expenses come up, you have more general leverage over your life, and you get the peace of mind that comes with it. Of course, there are better places to PUT it than a bank account.
It’s also a virtuous circle… if you don’t spend, you don’t have as much financial stress, which means you need less distraction to take the pressure off, which means you spend less money on things you don’t really want, which means you save more.
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The economy is so precarious if you don’t have 6 months of savings, plus retirement, you really should be wary of spending it.
I already know a couple of people that have been job hunting going on 4 months. That’s been very inconvenient for them. Plus let’s not even get into social security insolvency.
Although you are right you should at the very least move it so you’re getting a decent interest rate on your money.
Otherwise, I don’t think many people these days have more than they need.