'Don’t keep your salary in Current accounts'

The Managing Director of the Guaranteed Trust Bank Lekan Sanusi has said it is prudent to keep salaries in savings accounts instead of current accounts.

According to him, charges on current accounts by the banks put avoidable strain on the incomes of workers.

Speaking to Nii Arday Clegg on the ‘Start your year right’ segment on the Morning Starr Friday, Mr Sanusi advised workers to be prudent with their purchases in order to mitigate their chances of becoming poor.

“If you don’t need that asset, don’t buy it... The car you don’t use depreciates in value. If you don't need an asset, don't buy it. Savings equals investment and investment brings income.

“I believe in a situation where my money works for me. When I was an officer in the bank and even as a pupil teacher; I don’t keep my salaries in current accounts as soon as I receive my salaries, I move it to savings accounts,” he stated.

He said the inconveniences associated with running savings accounts makes it easy for one to save and to make profit on incomes.