Many people on New Year might set a new goal to save a lot of money to use in their retirement. However, it might be a problem since you can’t decide whether to do money saving or gold saving. Which one is better? Which one has a lower risk with certain benefits? ACU PAY has collected information to show the comparison between two kinds of saving. Let’s go, shall we?
It is to divide a part of the income to save for using for different purposes such as for shopping or for the future. Money saving has lower risk and lower profit compared to investment.
A deposit saving, a fixed deposit saving or keeping money with yourself are a part of money saving.
It is an investment in gold. It is a gradual accumulation of money to purchase 96.5% pure gold. It focuses on the amount of money in investment. The investment in accumulated purchases can be done on a daily or monthly basis. Once the required amount is reached, gold can be exchanged according to the weight of the amount in gold bars. In the present, gold saving can be started at a hundred baht.
Types of Gold Saving are online platforms of the gold shop or offline platforms at the gold shop.
Type of return: The return of money saving is “Deposit Interest” in case that you keep your money in a bank account. There is no return if you keep money with yourself. The return of gold saving is “a profit on the margin of buy-to-sell” no matter the trade on online platform or offline platform.
Liquidity in the conversion of assets into cash: Money saving has a better liquidity than gold saving. It depends on the individual such as withdrawing or transferring via mobile banking or going to the bank to withdraw or transfer. On the other hand, there are more processes to convert gold into cash such as gold checking, evaluating and going to the gold shop.
Taxation: Money savings have a 15% withholding tax for deposit money that is over 200,000 baht, except for the tax free account. The condition is different depending on the bank. Gold saving do not have tax for a profit on the margin of buy-to-sell.