Question

An old-fashioned method of saving money is to stuff it in your mattress or hide it in a cookie jar on the top shelf of your closet. But most financial consultants will argue against this method of saving your money. Why? Give an example of a better solution to saving money that might be advised by a financial consultant.

Answer 1

To invest in stock or bonds so that you not only are saving money but receiving more money in return. Also instead of saving it in a cookie jar or something like that, you should put it in a savings account so that over time as you add more money into the account you will also be receiving interest for your money. They would advise you to do something with your money that will get you more money in return

Answer 2

Answer: To invest in stock or bonds so that you not only are saving money but receiving more money in return. Also instead of saving it in a cookie jar or something like that, you should put it in a savings account so that over time as you add more money into the account you will also be receiving interest for your money. So you will also be increasing your amount of money and be less likely to be purchasing things  They would advise you to do something with your money that will get you more money in return. When the economy changes, you might lose the  real value of  your money due to inflation, although you have the power to put things into your own hands.