Who invented the term “save your money in the bank”?

As far as I can remember, the term “save your money in the bank” and “savings account” has been around so long that I didn’t start suspecting the relevance of it.

Are you really saving your money when you deposit them in the bank? To all of you who are already feeling the pinch of inflation, I am sure you have the answer to that. Instead of saving those hard-earned money which we have deposited them into the bank, we are killing them slowly and surely. A simple example: The RM 1,000 I deposited into Maybank two months back no longer gives me the same amount of petrol today…sigh :-(

A bank is the last place you should want to “save your money” in. The interest given from your deposit, if any, is pathetic. So, how is it that you can actually term it as a “savings account”?

However, the bank does provide your money with a little more safety compared to the Milo tin you have at home. But that still doesn’t mean that you won’t lose your money in the bank. Hence, by depositing money in a bank, what you are really getting is a little security in which you can do your daily monetary transaction. Hah! Maybe that’s what “savings” account means, a place where your money is safe.

We have been so used to the term “save your money in the bank” that we subconciously did not realize we are doing our money more harm than good. Of course, the bank won’t tell you this. The more money you “save” with them, the better.

So, we should stop using the word “saving my money in the bank”. Rather, the semantically correct term to use is “depositing my money in the bank”.

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