Having a bank account is not enough to make you prosper.

There is a tagline in an advert of a popular bank which says they are there to make you prosper. Even though I believe they may be doing their best to actually live out that tagline, I have become aware that owning a bank account is not enough to help anyone prosper.
Before I proceed, let me first clarify that I have absolutely nothing against the Banking industry, neither do I have anything against any banker or bank. I personally have bank accounts and I also have a number of friends who are bankers and I know they are doing a fantastic job for the economy. I however want to address the misconception some people have that owning a bank account is enough to make them prosper.
Brothers and Sister (I feel like am preaching. Lol…), it is not enough!
You and I give our monies to the banks for safekeeping, but do you know that the monies are hardly left idle in the banks? Money is a resource and the banks know that too well. They therefore put a large portion of whatever amount we deposit with them to productive uses such as giving out loans to businesses to make profit. Interestingly however, they hardly share this profit with you and I – the original owners of the money. The truth is most banks hardly pay you an interest which is equivalent to even the minimum treasury bill rate. Do I blame them? Absolutely not. It is because there isn’t much financial literacy in the economy and they get people who easily give their money to them and a willing to accept the “peanut interests”. In fact, most accounts pay no interest at all, they rather even charge you for “keeping your money for you”. How kind of them? Lol…
Personally, I just use my bank account to hold enough for my monthly expenditure and emergencies.
So what is my point? All I am saying is that, the banks exist primarily to make profit for their shareholders, and contrary to what they advertise to you that they want to make you prosper, the truth is, most of them will not. Or even if they will, their route to doing it is excruciatingly slow, there are better and faster ways.
Take charge of your financial future and do not leave it in the hands of bankers. Actively invest the bulk of your money, don’t just heap them into a bank account. There are various short-term investment vehicles to help you do this. Become discontent with taking on any investment risk which rewards you with less than the prevailing Treasury Bill rate. If we start doing that largely enough, our bankers would start offering us more attractive products with attractive interests.
#Start Investing, Keep Investing!


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