Would you rather put your money in a time deposit or use it for business?

Pixie06

I have a business and I have some future plans. I am saving some of my money for this. However, I also need to invest in my business from time to time. I am currently developing some new products and there are unexpected expenses occurring which I have to cater for. I need to continuously innovate as I have to compete with many others. If you already have a business then maybe you can consider to invest the money in your business and try to diversify it.

7 years ago

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Barida

Diversification is the way most of the successful business owners have made that breakthrough. By constantly developing other outlets in the business, an owner can get better on it. So, I agree with you on the reason that investing in business is the right way to go about it.

7 years ago

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Barida

I wouldn't have to think twice about investing in a business once I see an opportunity arise from it. The good thing about investing in business is that one can really make a lifetime returns on investment through that unlike what we have in time deposit where inflation can make the money have less value within time.

7 years ago

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wiseagent

Investing in business is the most logical option, but currently I only saving the money because I need a fair amount to turn one of my dreams into reality (something that I've been planning for many years

). So... Risking that money - at least right now - to me, it's something I'd rather not to do.

7 years ago

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DarthHazard

Unless you put it in a bank in the hope that you can make a lot from interest, there is very little you can do that does not have some sort of a risk. Personally, I would use it for a business. If you have a good idea for a business and it does well then you can make a lot more than you would from interest from a bank. The earning potential from a business is unlimited and you could even pass it off to your kids in the future.

7 years ago

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Corzhens

I work in a bank and I agree to what you said about depositing the money to your bank account because there is no risk. On the contrary there is a risk to wherever you put your money. The bank may go bankrupt without your knowing it. That happened before to my first employment where I worked for 2 years. But I agree that putting your money in a bank is one of the safest ways.

6 years ago

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kgord

I don't think anyone can give you a 100 percent guarantee that using your money for a business will pay off. If it was me, I would use part of the money in the business and put the rest in the bank. It sounds like you unsure about what to do..I would start slowly with business investments.

7 years ago

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augusta

t believe having a business is better than depositing it in the the bank. I have deposited my money in a fixed deposit for 2 years but the profit after the 2years was nothing to write home about.

With business one is. not only making money, one can create wealth from it,have an established business for generations yet unborn and also be an employer of labour.

7 years ago

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DarthHazard

That is exactly what I said. I just don't think that it is worth putting your money in a fixed deposit because like you said, even after 2 years, it's just not worth the return. Putting that money in a business can be risky but if you can make some good decisions and do well then you will get a lot more than you will by putting your money in a fixed deposit.

7 years ago

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Judas2018

I think no matter how much income you earn a year you should always keep some to spend, and use some to invest, put away into a bank, or stash into some good stock or properties.

7 years ago

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explorerx7

It could depend on if you may have a huge sume of Money that is able earn you a considerable amount of interest income yearly then you may be able to opt to avoid any other type of investment, but this arrangement also has an element of risk because the deposit taking institution could possibly fail. However, if you may not be that wealthy, and your well-being may be dependent on your money earning for you, then you will most likely have to take the risk of participating in some form of business venture so that your money could possibly turn over some income . However, before you in invest in any venture, it's important to that you do extensive research and seek expert advice on the future viability of the entherprise to minimize the risk of you losing your investment.

7 years ago

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peachpurple

I would put my hard earned money in fixed deposit with returns in my saving account. Never trust on trust funds which gives no guarantee returns

7 years ago

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overcast

I am doing both lately. I am adding 90% to the deposit and using the 10% for personal and the business purpose. I am strictly choosing the low cost online methods for the business. And I am taking that ahead for the further business options. As you can see that it'd be only stopping me behind if something happens. I have learned that some of the time the business takes years to form. And for this to work properly we have to make some really good changes to things around. I can tell you that money put into savings also helps. But taking risk with the business is important.

7 years ago

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vhinz

I would save part of money and I would invest other parts of it on different businesses that I'm passionate about and I really understand the processes involve. It's risky to invest in a business that's why I'll follow what successful businessman's advice, "Never put all your eggs in one basket." Your money could be safe in the bank but it will never grow exponentially. And I think you'll lose also money if you're just going to save it in the bank because of inflation. The value of your money today will not be the same after a year or so. Of course it is also wise to save money while venturing in businesses.

7 years ago

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Everett

If I had extra money, I would definitely invest it into a start-up that is taking off. For instance, if you invested in Facebook in the early days with even just $1,000 then your return would be quite a lump sum. The only thing preventing me from making money on investing is:

1. Not having the means to do it. My money is all tied up at the moment, and I can not afford to invest into companies at this time, which is really a bummer because it seems there are many new startups that are just killing it.

2. It is kind of hard to locate good startups to invest into. You would hope that the startup has the success or even half the success that facebook had when it first launched.

Now, here is another thing... cryto-currencies. Investing into bitcoins really does pay..

1 Bitcoin equals 7529.30 US Dollar

If you bought bitcoins way back when the currency was in it's infancy and bought about 10 bitcoins then those bitcoins would be roughly worth around 80,000 dollars. I was gifted a lot of bitcoins in my past (from friends that bought them but didnt want then any longer) but for the life of me, i can not seem to find the details of my bitcoin wallet. This makes me so mad because i could worth over $200k right now.. if i could only find that wallet address

7 years ago

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overcast

I am also taking interest into the bitcoin and other cryptocurrency. I have some amount of the XRP, BTC and PCC. I am hoping to make some good amount of money through that. I am not sure how much I'd have to work on making it good enough to get the business going. I'd just focus on the money part though. It seems like money takes time to build upon. And even harder to make some reasonable with cryptocurrency. So I guess depending on faucet is a good idea for now.

7 years ago

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DarthHazard

I have always wanted to get into Bitcoin and another cryptocurrency but just don't have the courage to. I think I posted this story in another post on SEOClerks but I actually wanted to invest in it a long while ago when it was quite cheap. That was a massive missed opportunity. Imagine if I had invested in it, I would be quite rich now or could have kept it for even longer to see how much more I could make from it.

7 years ago

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overcast

I used mostly my online earnings to invest into this. I have also started making use of the faucets. And that few minutes a day are also added into this type of the thing. You can see that you don't have to break the money from your day job. That's simply not going to work out in that context. You have to work harder for the other means though. That should be in your mind.

7 years ago

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potentialwriter

I would never ever wish to put my money in a time deposit, but rather use it to run a business. Money keeps losing its value daily. So, putting it in a time deposit would not be advantageous in any way. Money must be invested and profit can be kept as desired. Banks know how to use your money to invest. Banks use your money to buy shares, use your money to trade forex and for other investment options. You should be able to know how to use your hard earned money to do businesses.

7 years ago

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overcast

This is true. Adding the money into the business that runs auto pilot. Or something that can run on it;s own makes sense. You can see that some of the time such investment may not be high. But short burst of the investment do pay off. And that is something you have to spend the right way. In terms of business management it'd be reasonable to not add money that you can't afford to lose though. In such case spending the money into time deposit to some extent is a good idea.

7 years ago

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TimothyAlex

New businesses always need to reinvest their profits to grow their company. There is really no way around it until you have you have a steady stream of clients. You know te saying, entrepreneurs work like most people won't so they can one day live like more people can't. That means working longer and harder upfront, and sometimes without a good personal income, so that your business will flourish.

7 years ago

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mildredtabitha

I would rather put my money in my time deposit and use it later in business when I am sure the business can grow and yield profits.

It is risky to put it all in business now if that is all you have. Businesses need more time, care and patience for them to reap the rewards you might be expecting.

7 years ago

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overcast

The thing is money is getting lower value in the savings and investing. So taking action with business is more profitable in the long run. Even if the business fails you can see that it has the capacity to earn slowly. And that may surely surpass the earning in many ways. I have learned that some of the time this type of the time deposit may come in handy as well. I guess it depends on the individual perspective too.

7 years ago

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Baburra

I would choose to just use it for a business. It's totally a lot more risk and you could lose everything if you are not careful, but ultimately, I think putting it in a time deposit won't really do much unless you already have a lot of money to begin with. For smaller amounts, I think it would be much wiser to just gamble with it and try to gain more from it and then just use that for a time deposit if the amount gets big enough.

7 years ago

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JoeMilford

I do both of these financial activities. I have a business account budget where I put some money in every month, and I also have a general account for spending, bills, etc. On top of that, I take a portion of my earnings every month, even if it is only a small amount and put it into my savings account. Every little bit helps, and things add up over time, so I try to remind myself of this. Plus, the more we deposit the more interest we earn, right? I am always, like the rest of us, trying to find ways to maximize my profits and to generate more profits, but being smart and saving and making long term investments for retirement is key.

7 years ago

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Corzhens

I think it would depend on your personality. In my case, I may risk my money in business so it will earn more than just being in time deposit. For my husband who is not business-minded, he would just place his extra money in time deposit account. There is risk in business and if don't have the passion then I would advise against it.

7 years ago

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DarthHazard

I agree with you. Obviously, starting a business can be extremely difficult and even managing one can be quite a difficult process. You will go through a lot of ups and downs which means that you definitely need to be determined, hardworking and willing to fail if you want to invest in a business. Not everyone is like that of course so others, like your husband may just prefer to go with the safer option and put money in a time deposit account.

7 years ago

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vinaya

If you are a risk taker, you should put money into the business. If you cannot start your own business, you can invest and finance in the business that is already doing good, for instance, buying shares and bonds. However, if you are afraid to take risk, you can put your money in a fixed deposit account. When you put your money in a fixed deposit bank account, your money will be locked for certain years and you will have high-interest rates.

7 years ago

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limberg

It's important to strike a balance between your business ventures and savings. Savings are primarily for security purposes. Imagine if you put all your money into a business venture then you suddenly run into an emergency - for instance, you get sick. Where would you get money?

Experts say that before you enter into a business venture, you should always set aside an amount of money and put it in your bank. Have a hefty amount that you're confident would cover up expenses in case of emergencies. Then invest in a business venture. You'll have more peace of mind that way.

7 years ago

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vinaya

That's true. Putting your money in time deposit will come handy during the emergencies. If you deposit your money in a reputed financial institution, you will never lose your money as your principle along with interests on deposit will be returned to you. Investing in the business is risky, there is 50-50 chances for making money and losing investment. However, if your business succeeds, you will earn more ROI. Therefore, it is necessary to do both.

7 years ago

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jaymish2

I agree with @limberg. However, I would split m money into two. Put some in a fixed deposit account to earn interest. The rest I would start or invest in a business. Split your risk. No pain no gain. You have to take risks otherwise you will never reap the rewards. With economic uncertainty normally cash is king. More and more people are closing their businesses down because of this uncertainty. This means there is more room for you to start a business. Remember a fish swims against the tide and not with the tide. Most millionaires and billionaires make their money when the economy is in recession or uncertain.Good examples are Warren Buffet and George Soros who invest in companies when the economy is not doing well and company stocks are cheap.

7 years ago

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Krisleen

I would suggest that you put your hard earned money in a business. Always choose long term vehicle. A business can sustain life once it becomes stable. Time deposit is short term and you don't earn that much from it. I suggest that you build a stable business then grow your money more by putting it to other income generating assets such as stocks and mutual funds. You need the business as your source of regular income so you can regularly save and grow money in stocks and mutual funds. I learned that in time deposit, let's say the bank gives you a deal where your money will earn 5% interest in 6 months time. For example, the bank earns 10% interest. Whatever is in excess of your deal goes to the bank. Unlike in stocks or mutual funds where all interest goes to you. Right now, my stocks investment earns more than 100% interest but it took 4 years to earn like that. Everything is long term perspective. It gives you big rewards. The good thing with it is that the interest I get is not partial. My money doubled and it's all mine. Basically, I suggest that you start a business, make money from it regularly, then use the money to make more money thru other income generating assets like stocks and mutual funds, then repeat it consistently. It can turn into exponential income in 5-7 years.

7 years ago

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Kakashi2020

I would advise you to thoroughly think it through first considering the following factors like present bank interest rates, economic conditions, your business experiences and expertise, stress and time factor, your targets and goals. Also it all depends on what country your on and the amount of money you've saved.

I would generally suggest that you invest your money to something solid and earn from it. Earnings could be in the form of Rental Income or Dividends. Always let your money work for you and not the other way around.

7 years ago

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Corzhens

The money in the bank versus using it for business is two diverse choices like they are in opposite poles. For a safety-conscious person like me, I would be patient with the very small earnings of my savings in the bank but my money is safe. The business is a gamble that you cannot be too sure to earn. I had an experience in losing money in the 2 failed businesses that I tried before so that option is out of the question for me.

6 years ago

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SEOClerks

Would you rather put your money in a time deposit or use it for business?