When you save money and don't put the money to work for you, to make more money. That's called “Dead Capital” Basically it won't do much Unless if you save 10% of everything you make and forget about it, like it doesn't exist. read more
Saving money at home has multiple disadvantages like: No interest income. No capital appreciation. Due to inflation, the value of cash declines ie what 1000 rupees can buy today, 1100 would be required next year to buy the same. Last but not the least- DEMONITISATION inconvenience. read more
Advantages: liquidity , easy to withdraw, easy to track , safety of money and main disadvantage is very low returns which could not beat the inflation. Sometimes people open saving accounts for the purpose of accumulating money for any short term purpose like vacations, for down payment of home etc. read more
But what you have to know is this: these two organizations limit their coverage to $250,000. So, if your savings is more than this amount, you won’t enjoy full coverage. You’re better off distributing your money among several savings accounts or switching to high-ROI investments. 3. Can tempt you to spend your money. read more