Where do you keep savings in PLN?
I know that keeping savings in Polish currency is not the smartest option, but it is worth having some of your money in a currency that you can pay at any time in Poland. The question is where do you keep them? Cash? Revolut? Bank account?
I know that keeping savings in Polish currency is not the smartest option, but it is worth having some of your money in a currency that you can pay at any time in Poland. The question is where do you keep them? Cash? Revolut? Bank account?
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Savings only in cash, hidden in a secret place 😉
Savings only in cash, hidden in a secret place 😉
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A bank account, in a savings account, to slightly reduce the effects of inflation.
A bank account, in a savings account, to slightly reduce the effects of inflation.
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Diversification as everywhere. Currency wallet + cash + current account
Diversification as everywhere. Currency wallet + cash + current account
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It is worth keeping part of your money in cash, Polish zlotys, as a hedge against a decrease in the value of money in precious metals.
It is worth keeping part of your money in cash, Polish zlotys, as a hedge against a decrease in the value of money in precious metals.
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Where to keep savings in PLN? It depends on your preferences and financial goals. Here are some popular options: Savings account in a bank Bank deposit Investment fund Stock Exchange It is worth comparing the offers of various financial institutions and choosing the option that best suits your needs. Also, be aware of the risks of investing and that the value of your savings may fluctuate with market fluctuations.
Where to keep savings in PLN? It depends on your preferences and financial goals. Here are some popular options: Savings account in a bank Bank deposit Investment fund Stock Exchange It is worth comparing the offers of various financial institutions and choosing the option that best suits your needs. Also, be aware of the risks of investing and that the value of your savings may fluctuate with market fluctuations.
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In my opinion, it is best to put money into a savings account. When we do not need it and we choose a good interest rate, the amount increases. You can withdraw money at any time. Money is safe, no one can steal it.
In my opinion, it is best to put money into a savings account. When we do not need it and we choose a good interest rate, the amount increases. You can withdraw money at any time. Money is safe, no one can steal it.
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My super-cash reserve is primarily currency: a few hundred USD, a few hundred Euros and just a few hundred zlotys. Everything is hidden in a box in the wardrobe. If we have a crisis ala Greece, I do not believe in the value of PLN. These few hundred zlotys are in case the crisis consists in the collapse of payment terminals and ATMs, which is rather unlikely :) I would expect a power grid failure sooner.
However, the actual cash surplus, which I do not have in bonds, I have in a savings account. It gives ridiculous percentages, but always some.
My super-cash reserve is primarily currency: a few hundred USD, a few hundred Euros and just a few hundred zlotys. Everything is hidden in a box in the wardrobe. If we have a crisis ala Greece, I do not believe in the value of PLN. These few hundred zlotys are in case the crisis consists in the collapse of payment terminals and ATMs, which is rather unlikely :) I would expect a power grid failure sooner.
However, the actual cash surplus, which I do not have in bonds, I have in a savings account. It gives ridiculous percentages, but always some.
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Cash, bank accounts, and ETFs for Polish Treasury bonds (Beta ETF TBSP).
Comments:
- If we have a lot of cash, it is worth keeping in several banks so that the amount on any account does not exceed the equivalent of EUR 100,000 . This is the so-called guaranteed deposit in accordance with Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014. In the event of a bank failure, the BFG Bank Guarantee Fund returns deposits accumulated in a given bank or credit union up to this amount. And the advantage of keeping savings in several banks is additionally that if someone breaks into our account, it will not reset all savings.
- When I save for something, i.e. I have an expense planned for a few months, I buy an ETF for Polish treasury bonds so that the money "works". However, there is a risk of the price of this ETF falling, which makes it possible that we will nominally lose on this investment .
Cash, bank accounts, and ETFs for Polish Treasury bonds (Beta ETF TBSP).
Comments:
- If we have a lot of cash, it is worth keeping in several banks so that the amount on any account does not exceed the equivalent of EUR 100,000 . This is the so-called guaranteed deposit in accordance with Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014. In the event of a bank failure, the BFG Bank Guarantee Fund returns deposits accumulated in a given bank or credit union up to this amount. And the advantage of keeping savings in several banks is additionally that if someone breaks into our account, it will not reset all savings.
- When I save for something, i.e. I have an expense planned for a few months, I buy an ETF for Polish treasury bonds so that the money "works". However, there is a risk of the price of this ETF falling, which makes it possible that we will nominally lose on this investment .
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I spend everything there and drink so that they don't steal.
I spend everything there and drink so that they don't steal.
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