Ways to Collect Money in Places Other Than Your Bank Account

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Money has been the object desired by the world for as long as man has been around. In early days, it manifested itself in different ways. The number of pigs you owned defined your status. Today, currency is the object of choice. Or rather, it’s really the amount of zeros you have in your bank account. As money is so largely managed online through virtual accounts, the actual handling of money gets rarer by the day.

The convenience of carrying around a card trumps having cash in your possession. First of all, change is weighty and the jingle in your pockets is a sound that only pickpockets like to hear. Less is more in today’s society. Why carry a mountain of dollars when you can have access to your entire life savings with the swipe of a card?

With this being said, there is still value in collecting money in places that aren’t your bank account. What happens when the world has a repeat of the great depression, or all of the internet crashes and you’re left with nothing to show for the amount of money you entrusted to the banks?

As a sort of protection to yourself, here are ways to collect money in places other than your bank account:

Gather Commodities

This is kind of an end of the world type of post. You may never think that the world will encounter the kind of trouble that leaves your well-off soul high and dry, but in reality, it’s better to be safe than sorry. If you have the means now, use them to give yourself the means later. This means spending your money stocking up on the commodities.

Start gathering things like corn, rice, soybeans, wheat, coffee, and sugar. It wouldn’t hurt to have your own cows, pigs and chickens. You’ll be able to produce your own milk, eggs and meat. In the realm of other commodities, gather precious metals. In a world where nothing is certain, your best bet is going to be to have your money represented in varying assets.

Buy Foreign Currency

Who says you have to play the game in home field? One way to collect money other than in your own saving account is to buy in foreign currency. Money value changes depending on how an economy is going.

Right now, the Iraqi Dinar is very low, but one day, the value might skyrocket again. If you play your investments in this way, you could find yourself coming into millions of dollars. It’s relatively low risk, and you’re not waiting waiting for the interest in your bank account to accrue.

Posted in: Tips