Five Tips for a Healthier Life Style and Money in the Bank

bank savingsThe banking system has indeed made great strides throughout the years. A clear indication of this would be very well justified by the fact that we see banks not only in commercial centers but also in the remote areas of the country. There are many healthy reasons why we should place our money in the bank.

  1.  The bank becomes significant in the economy because they can create money out of the loan proceeds. If a bank abuses this power, it will create havoc to the economy. If the bank exercises wise judgment in this particular aspect, it would contribute tremendously to the economic well being along the commercial, industrial and even agricultural endeavors.
  2. By its function of giving expert advice to businessman, the bank may contribute to the success of the country as a whole. Since banks exercise prudence in giving such advice, it usually turns out that they contribute to wise decisions and proper incentives in business and trade.
  3. Without banks, foreign trade would stagnate or perhaps not flow smoothly. The major link between international buyers and sellers are the banks. They influence and allow the continuous and success flow of foreign trade.
  4. Banks can help you manage your budget plan and it will allow you to have more savings than usual. Having a bank account will avoid the habit of spending too much because when cash is on hand, the tendency is more expending money to most of your wants.
  5. The banks were organized mainly to service the need for facilitating credit transactions. The bank came out of the need to facilitate trade transactions, particularly credit transactions. A bank also facilitates the dealings between debtors and creditors because it acts as an intermediary in the flow of credit funds.

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