Why it's unfair to compare Lendahand to your savings account
Written by Lucas Weaver on 4 March 2020
It’s a tempting comparison to make: why leave extra money in your savings account earning 0% interest when you could invest it with Lendahand and earn around 3% in return?
While the comparison may be tempting, I’m here to tell you why it’s actually like comparing apples and oranges.
It’s not a fair fight
Let’s be honest, it’s just not a fair competition. Lendahand is like your cool cousin that travels the world year-round but still finds a way to make it home for Christmas dinner. Your savings account is that cousin that reminds everyone not to swim for 30 minutes after eating birthday cake.
Your savings account is safe
It’s not his fault, but your savings account isn’t exactly the person you call for a good time. Feel like skiing down an unmarked run? “Way too dangerous,” he says. Or how about eating some raw cookie dough as a snack? “You could get Salmonella and die!”
Let’s face it, you won’t have a lot of fun with your savings account, but that’s not really his job. The job of your savings account is to keep your money in a safe place until you need it.
Want someone to protect your money for the next three months until you’re ready to buy that new bicycle you’ve been saving for? Your super safe and reliable savings account is the perfect person for the job.
Lendahand brings the flavor
While your savings account is worried about keeping your money safe for the next three months, we’re trying to make sure you have more money in three years, and help you make your impact in the world while you do it.
You might already have someone that helps you with that as well. Maybe a pension fund for retirement, maybe you invest in stocks with something like De Giro. But how many of those investments do you tell your friends about on the weekends?
Lendahand helps bring some global flavor to your money. Like your long-time friend who makes you listen to new hip music you’ve never heard before, we bring you new investment opportunities from emerging markets across the world. From small agricultural entrepreneurs in Cambodia to growing B2B solar companies in Uganda, we offer a range of investments to fit your values and financial needs.
Apples and oranges
As we said before, the comparison between a savings account and crowdfunding with Lendahand isn’t a fair comparison. One is safe and boring, the other is fun and adventurous. But here’s the good thing.
You could have both of us in your life. There’s nothing wrong with safety, and even the most adventurous of travelers still need some downtime to be boring for a day or two here and there. By finding a way to make Lendahand and your savings account work together, you might find yourself at the beginning of a beautiful friendship.