Quite a lot of times in our individual financial life, what we observe that the moment we start getting some money, the tendency we develop is not putting it somewhere safe and let the amount expand. Thats when I have felt that we began to form mistakes. Because,at one side we arent free of expenses coming out of civic life, on the other hand at the end of the month, some chunks of #money is left of no use.
There were times in the past when people had less investment options to let their money grow, the choices were limited and so the systems with it. Monetary institutions like banks had their varied set of #interest rates and some followed strict principles with rigid #loans and paycheck manuals that brought tough luck for those who couldnt fulfill the condition applied to them. But, although this financial institution was the only great options left for those people.
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While we seem to understand the science behind economic factors and how capitalistic attitude works well with #investment, having the plan and adopting them right times towards right directions - we tend to skip away one big thing that I noticed that, we pay less heed to how financial institutions like banks are making business out of people who have less to #deposit for savings. These people lack knowledge of how to move their money in right way, thats where the foxy bankers avail their chances.
With greater social experience I have felt that people are too inclined of putting their money idle or in banks with little returns they get, they become satisfied with it. If they get $20 out of $3000 fixed deposit, while in that amount bankers provide loans and #invest in short terms and get rewards of $100-$120, but they are only providing $20 or less than that in some cases, taking $100 out of $3000 deposited money into their profit box. They only rely on the illiteracy of the mass people or those people who have little to less knowledge on financial terms.
It is my deep observation that while large proportion of the population are getting modern day education and are being taught economic studies, still they remain unskilled and unaware of the investment plans and use of spare money or a certain #capital upon which they can easily maximize their growth of returns.Thats the prime reason behind where despite having big income stream and savvy expense rates, they fail to manipulate the money and it remain the same as back few years ago.
But, with the approach of times and #web3 and #decentralization have in place, transparency have been installed on the newer system, which indicates the users and the clients receiving the services are getting ensured of fairness upon the monetary principles and the returns they get out of the investments they made.
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Banks have become way obsolete and unless any obligatory real life exchanges nobody is willful of transacting their money into the streams. This would make a change most fortunately because people would have their freedom to ensure retaining suitable plans. Systems like #Binance is doing well with the fiat and #crypto conversions and many sponsorships being added to hold and stake as far as the investor would want to grow their own asset.
Ultimately the choice of the individual people would be the deciding factor, the way they want to strengthen personal economic ties. Spare money with persistent effort and watchful consideration over the span of years can ensure people to have their specific #asset to grow, upon which future retirement can be ensured, or spending them on big occasions can be also dealt with.
But all comes down to how people are taking the personal #economic goals and whether they are prepared or not to apply that knowledge onto something that really matters most to their life.