Before we begin, let me tell you a story about saving. The American oil tycoon John D. Rockefeller was once destitute in his youth. One day, he saw a huge advertisement in an evening paper selling the secret to getting rich, so he rushed to the bookstore overnight to buy this "hard-to-get" book called "The Secret to Wealth." He took the book home, hastily unwrapped it, only to find that the book was empty except for the two big characters "frugality." Rockefeller was both angry and disappointed. In a fit of rage, he threw the book on the ground and wanted to go to the bookstore to settle accounts with the owner. But it was already very late, and he thought the bookstore might have closed, so he angrily went to sleep, planning to go to the bookstore the next day to settle accounts. That night, Rockefeller tossed and turned, unable to sleep. At first, he was indeed very angry with the author and the bookstore, angry that they used such a simple word to print a book to deceive people, making him waste his hard-earned 5 dollars on this "trick"! But the more he thought about it, the more his anger gradually subsided, and he began to think, why did the author only use two words to publish a book? And why did he choose the two characters "frugality"? The more he thought about it, the more he guessed the author's intention, and the more he felt that frugality is the fundamental way to life and wealth. Thinking of this, he hurriedly got out of bed, picked up this book from the ground, and then placed it on the desk in the bedroom, and took it as the motto of his struggle and entrepreneurship. Since then, he has worked hard, worked hard, and saved every penny he earned every day, except for a part to the family, and saved the rest, preparing for future entrepreneurship. In this way, five years later, Rockefeller saved 800 dollars, and he used this money to start his business and step by step became the oil king.

Nowadays, it is unrealistic to accumulate a large amount of wealth in a short time by relying on bank interest, but through savings, we can achieve the first pot of gold in life without risk. How to save efficiently, I think we need to grasp the following three points:

[Heart] 1. Choose a deposit bank

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There are more than 4,000 banks in the country, smaller banks will have higher interest rates, and larger banks like the four major banks will have lower interest rates. Which bank is better to deposit in?

According to the "Deposit Insurance Regulations" issued in 2015, the deposit insurance institution provides full compensation for deposits below 500,000 yuan, and deposits above 500,000 yuan are compensated proportionally from the bank's liquidation assets. It is important to note that there are two situations where compensation cannot be obtained.

First, banks without a deposit insurance logo. If you are greedy for high interest rates and deposit money in banks without a deposit insurance logo, you may not be compensated.

Second, being deceived into buying bank financial products or purchasing dividend insurance from an insurance company. These products are not bank deposits referred to in the "Deposit Insurance Regulations."

Therefore, it is necessary to deposit money in small commercial banks with a deposit insurance logo and relatively high interest rates, with a total deposit amount in each bank not exceeding 500,000 yuan.[Heart] II. Selecting the Deposit Method

Different types of deposits and different deposit methods can result in significant differences in returns. The return on demand deposits is barely better than nothing, so I won't go into detail about them here. This section only introduces the techniques for higher-yielding deposits.

1. The Three-CD Method. The specific operation is to divide the existing deposit into three parts: one part as a one-year fixed deposit, one part as a two-year fixed deposit, and one part as a three-year fixed deposit.

In the second year, we will roll over the matured one-year deposit, principal and interest, into a three-year fixed deposit. Of course, if you have any idle funds on hand, you can also add them at this time.

In the third year, we will roll over the matured two-year deposit, principal and interest, into a three-year fixed deposit.

At this point, a three-year fixed deposit cycle chain is completed.

2. The Five-CD Method. The specific operation is to divide the existing deposit into five parts: one part as a one-year fixed deposit, two parts as two-year fixed deposits, one part as a three-year fixed deposit, and one part as a five-year fixed deposit.

In the second year, we will roll over the matured one-year deposit, principal and interest, into a five-year fixed deposit. Of course, if you have any idle funds on hand, you can also add them at this time.By the third year, we withdraw the two 2-year term deposits that have matured, along with the principal and interest. One part is re-deposited as a 2-year term deposit, and the other is deposited as a 5-year term deposit.

By the fourth year, we take the matured 3-year term deposit and re-deposit it, with the principal and interest, into a 5-year term deposit.

By the fifth year, we take the matured 2-year term deposit and re-deposit it, with the principal and interest, into a 5-year term deposit.

At this point, a five-year term deposit cycle has been successfully established.

This operation can earn the highest interest of term deposits, with a relatively lower flexibility compared to other deposit methods, but better than the three-deposit method.

3. The twelve-deposit method. The specific operation is to deposit a portion of the monthly salary into a 1-year term deposit, and by the end of the year, there will be 12 one-year term deposits.

From the second year, there will be a term deposit maturing every month. If the matured money is not needed temporarily, it can be re-deposited with the principal and interest into a 1-year term deposit. This ensures that there is liquid money on hand while also enjoying the interest of term deposits. If you have other idle funds, you can also add them at this time.

Of course, if you have more patience, you can also try the "24-deposit method" or "36-deposit method", which are based on the same principle as the "12-deposit method".

This operation has a higher flexibility, but the earned interest from term deposits is not as high as the three-deposit method or the five-deposit method.

4. The large deposit certificate method. The specific operation is to gather idle funds together, and after forming a certain amount of capital, purchase the bank's large deposit certificates to enjoy the additional interest brought by the interest rate increase.This method has a relatively high threshold, generally requiring an investment of 200,000 yuan, and it is less flexible, with higher interest rates, some even rising to 50%. This method is suitable for fixed expenses in the next 3-5 years, such as weddings, down payments for purchasing a house, etc., with designated funds for specific purposes.

5. Pledge loan method. If you urgently need money, but your fixed deposits have not yet matured, and you have no other sources of funds, what should you do? If the loss of interest from early withdrawal exceeds the interest expense of a pledge loan from the bank, you can choose to use fixed deposit certificates as collateral to apply for a short-term pledge loan from the bank.

[Heart] Three, choose the time to deposit

Generally speaking, the time when the bank's interest rate is the highest is when the bank is the most short of funds. The People's Bank of China will assess major banks every quarter, and one of the important indicators in the assessment tasks is deposits. In order to complete the assessment tasks, banks will raise interest rates as much as possible to attract deposits, so choosing to deposit money at the end of each quarter will result in relatively higher interest. The best time is around the Spring Festival.

In summary, flexible savings can bring a substantial wealth to your family.