Luis Alfredo Farache Benacerraf, Director of Business and Marketing of 100% Banco

Most of the families modified their behavior and consumption habits, each one experienced the economic impact of this world crisis in a different way. Consequently, they live for time with little saving capacity and especially in <a href="https://es.wikipedia.org/wiki/Venezuela” style=”color:blue; text-decoration:underline”>Venezuela. The Venezuelan banker Luis Alfredo Farache recommends some actions on his website to make money and protect money in times of crisis in the country.

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In relation to this issue, the banker thinks that: there is a population in Venezuela that wants to invest their money obtaining profits in the short and medium term. How to do it? Through different financial instruments offered by banking entities that allow the client to invest and make profitable their savings. Farache explains that, although the options are limited, there is one that some banks offer and it is the banking instrument with the highest yield that individuals can get, term certificates of deposit.

These certificates keep the money safely invested in the bank, they have a higher return than a savings bank, because the amount increases with the interest gain. That is why banking experts recommend it.

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There are also other ways to protect savings: anticipating the expenses of the next few months, if it is within the possibilities of the savers, says the banker, in this way a cost is set for that moment, paying it in advance and protecting of inflation. Another way is to acquire a hard currency as a hedging and savings instrument. Now offered by the Venezuelan banks with the new banking agreement.

Finally, the banker always recommends asking for the advice of an expert found in banking entities.

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