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Russians warned against keeping cash at home
07.08.2024 12:50
Inflation reduces the value of cash.
Keeping savings at home for a long time reduces their purchasing power.
JetLend platform CEO Roman Khoroshev told Gazeta.Ru that inflation in Russia is currently 9% per year.
According to him, this means that prices for goods and services are rising and money is losing its value.
Khoroshev explained that rates on deposits and savings accounts exceed inflation.
Therefore, if you invest 100 thousand rubles in a savings account at 10% per annum, after two years the account will contain 121 thousand rubles.
The advantage of savings accounts is that they can be replenished without restrictions.
In the case of cash, 100 thousand rubles will lose their value to 80 thousand rubles in just two years.
The expert stressed that the sanctions do not affect ruble deposits. The restrictions only apply to foreign currency accounts.
Risks of Keeping Cash at Home
When you keep cash at home, you run the risk of losing it due to unexpected circumstances such as a fire or moving.
Expert advice
Khoroshev advises protecting your savings from inflation with the help of bank deposits and savings accounts.
