What Do We Do with Our Savings: Keep, Spend or Invest?
Automatically translated summary. The full text is available in Romanian.
An information note by Independent Think Tank “Expert-Grup”, prepared under the National Financial Education Campaign run with the National Bank of Moldova, gives advice on how to handle savings. It compares keeping cash, bank deposits, government securities, life insurance, foreign markets and cryptocurrencies, and discusses which currency to save in.
Cash kept “under the mattress” faces theft and fire, and also loses value through inflation, so the same money buys less over time. The Soviet experience, with repeated ruble redenominations and hidden inflation, shows the effects of ignoring price growth.
Bank deposits pay interest that broadly follows inflation and are supervised by the National Bank of Moldova. The state guarantees them up to MDL 100,000, rising to MDL 200,000 from 1 January 2025. A bank history can also help when applying for a loan. Government securities may sometimes pay more than deposits, and life insurance can build a supplementary pension. Foreign capital markets require knowledge and a reliable partner, and online platforms may hide scams. Cryptocurrencies are unregulated and purely speculative, with odds similar to gambling. For short horizons without crisis, leu savings pay more; for uncertain or distant goals, a basket of EUR, USD and lei is advised.
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