2023-12-08 20:30:10
12/08/2023 Act. at 17:55 CET
Payment in cash is “available to everyone” and can save us more than one problem
Cash is becoming more and more obsolete, thanks to telephones, immediacy and credit cards we have lost the ritual of going to the bank to withdraw physical money. However, there are still some people who reject digital and prefer to drive bills and coins in your day to day life, just like Keep a portion at home in case any emergency occurs.
As indicated by the Bank of Spain on his website, the cash payment is “available to everyone”, since it includes those who “lack bank accounts or have limited access to other means of payment.” In addition, the organization has given a series of Tips on how much cash it is advisable to have at home.
Is there a limit amount of money that can be stored at home?
The Bank of Spain points out that There is no maximum amount of money we can keep at home.since it is legal as long as the origin of the money is legal and has been previously declared to the Tax agency. This type of money is also of interest to the Treasury, since it plays a good part in its fight against tax fraud.
Recommendation from the Bank of Spain on the money we should have at home
The financial body has revealed the optimal amount to have stored at home, in the event of possible emergencies or unforeseen events. According to the Bank of Spain, the ideal is to have a amount that allows you to cover between 6 and 12 months of fixed monthly expenses. To do this, it is first necessary to assess the personal needs and fixed expenses of each person in the areas of housing, food, transportation, among others.
The disadvantage of keeping money at home
The Bank of Spain warns that, despite the fact that keeping money at home is totally legitimatethe downside is that that saved money goes away devaluing due to inflation. For example, if we have 10,000 euros saved at home, inflation would take away almost 100, Taking into account the calculations of the European Association of Investment Fund Managers (Efama).
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