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Keeping your money idle is as good as losing it. Here's why

Keeping it all locked awayET Bureau
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Keeping it all locked away
Mr M Miser saved all his money in his savings bank account. He loved nothing more than to check his bank balance. "Wow! Look at all those zeroes! It makes all the saving worthwhile," exclaimed Mr Miser. He checked his balance at work, at ATMs and at cyber cafes, whenever he could.
Miserly but carelessET Bureau
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Miserly but careless
Although Mr Miser stashed away all his money, he wasn't too careful with his Internet banking account or his information. One day, when he checked his balance, he realised that Rs 10,000 was gone from his account. "Why did this happen to me? I struggled so much to save that money," he cried. His friend saw that Mr Miser was upset about something. "What happened? Why are you so upset?" he asked. "My money is gone! Someone hacked into my account and stole Rs 10,000. What should I do now?" said Mr Miser.
The friend's ideaET Bureau
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The friend's idea
"The thief has stolen only Rs 10,000, you’re losing five times as much just by keeping your money idle!" suggested the friend.
Make your money work for youET Bureau
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Make your money work for you
Moral of the story: Keeping your money idle is as good as losing it. Make your money work for you by investing in the right instruments.
By Nilanjana Chakraborty and Anirban Bora/ ET Bureau
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