HE money Cash is becoming obsolete. Thanks to mobile phones, emergency services and credit cards, we have lost the ritual of physically going to the bank to withdraw money. But there are still some people who reject digital and prefer to drive banknotes and coins just like in your daily life Keep some at home in case any emergency occurs. It is a valid option for small quantities, but not recommended for larger quantities.
HE Bank of Spain on the website agrees that: cash payment “open to everyone”because it also includes people who are “unbanked or have limited access to other payment methods.” However, his advice on the amount of money recommended to be reserved To deal with possible unexpected expenses, it is recommended that you keep it in a visible bank account so that you can use it quickly.
Is there a limit to how much money can be stored at home?
The Bank of Spain admits this There is no maximum amount of money we can keep in the house.Because as long as the source of the money is legal and legitimate, it is legal. previously announced to the public Tax Office. This type of money also concerns the Treasury. fight against tax evasion.
Advice from the Bank of Spain on the money we should save
The financial institution announced the optimum amount to reserve It acts as a “safety net” against possible emergencies or unforeseen events. Contrary to information in some media outlets, the institution states that “keeping money at home is not necessary” and instead advocates banking products such as current accounts.
According to the Bank of Spain, the ideal is, The amount that will allow you to cover your monthly fixed expenses for 3 to 6 months.
To do this, it is necessary to first evaluate each person’s personal needs and fixed expenses. fields housingfood and transportation, among others.
Disadvantages of keeping money at home
Castle home money is completely legalbut there is a disadvantage that the money saved is spent Devaluation for inflation.
For example, if we have If you save 10,000 euros at home, 1% inflation will take away 100 euros. It was made by taking into account the calculations of the European Investment Fund Managers Association (Efama).
Source: Informacion
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