Don't Save Your Money in Banks

That's the most significant learning I got from reading Bo Sanchez's books. No, he is not totally against saving our money in a bank. In fact, he advises all of us to put 3-6 months of our salary in a bank for emergency purposes. Other than that, the rest of our disposable money should not be parked in a bank. Why? Because we will not get the maximum gain if we do so. Not even the time deposit will grow our money exponentially. Even an 8% per annum (this, I think, is the highest rate being offered by one of the biggest rural banks in the country) is nothing if there are other charges that will be deducted once a time deposit has matured.