What do with money sitting in your bank or pocket doing nothing

Based on my personal experience. Have you ever wonder what you could do with money sitting in your or your pocket doing nothing but collecting dust? Let say you have $250 and it’s been sitting neutral in your bank or piggy bank, waiting for one day for emergency fund or use for something that really need to be use.

How about think about think outside the box a little bit. Put that $250 somewhere where it will grow, get interest and dividends. Here are a few things you could grow your $250 and risk taking calculation.

  1. You can just keep it in your pocket for emergency use, but what if you get rob or loose pocket pants clothing? your risk is at 1% of loosing your money
  2. You can keep your money at home hiding somewhere, what if your house burn down? your risk is at 1%
  3. You can put it in a safe box, what if your home get rob or someone have access to your safebox and steal your money? your risk is at 1% of loosing your money
  4. Keep it in bank, chances you’re getting close to nothing in dividends and interest with $250 even with higher amount. On top of that not easy to access your money like getting cash out, you would have to run to ATM machine it charges fees wasted gas and time. no risk of loosing your money just accessing to your cash is not easy driving to bank can get into car accident
  5. Put it in 6 months 1 year CD saving with interest, in USA it’s very low max of 1% for 6 mos and maybe if you luck 2% for 1 year. no risk of loosing your money just your money is locked for 6 months or 1 year
  6. Invest in your family business, what if the business don’t succeed? 50% risk of loosing your money
  7. Invest in bonds money market mutual fund, safe but very slow earning. no risk of loosing your money, just no access to your money
  8. Invest in stocks market, somewhat of a risk if you don’t know what you’re investing in, and even if you do, you wouldn’t know when it will go bankrupt or drop down to all time low and maybe pennies. 25% risk of loosing and no access to your money until sold
  9. Go to casino gambling double or nothing, your risk is at 95% of loosing but double up quickly
  10. Put your money in HYIP (high yield investment program) so call pyramid scam scheme. 95% risk of loosing just like gambling at casino.
  11. Invest in new money like cryptos currencies such as Bitcoin Ethereym Ripple … 50% of loosing your money and no access to your money

There are probably more, but as a general rule of thumb, never invest money you cannot afford to loose, you’re taking 50% to 100% loss no matter what it is. The safest to be honest is if you have money just spend it on something that make you happy, such as taking your g/f out for dinner or some toys that make you happy. However you will not get rich by spending money but you will be happy, just remember you’re rich doesn’t mean you will be happy. Your health should be priority, even with $1 and you cannot get up from your bed because you’re sick, how you’re going to spend that $1?