With the diversification of financial management methods, many people's preferred financial management methods are no longer limited to depositing money in the bank. For example, some people would rather put their money in an Internet product like Change Rather than in a bank. Because putting money in these products not only may have better yields, but it is also convenient when needed.
What is Change
There may be some small partners who do not know what change is. Change is a financial tool on WeChat, after opening WeChat, you can see it in the WeChat wallet. The change that we usually do not use temporarily on WeChat, if it is transferred to the change pass, there will be gains, and the income generated will become the principal, continue to generate income, and achieve what we often call profit rolling profits.
In addition, put the money in the change pass, we need to use the time, use WeChat scan code payment can directly use the money inside, no need to withdraw additionally. However, if you want to withdraw cash, you still need to transfer the money to the bank account first, and then go to the bank to withdraw it.
Therefore, in addition to not being able to withdraw cash directly, putting money in the change pass is actually not much different from the demand deposit in the bank, but the interest is several times that of the demand deposit.
Of course, when making financial investments, sometimes you can't just look at the returns, and many people are more concerned about whether it is risky. Bank deposits, although the interest rate is low, are at least reassuring. So, is it risky to put money in the change pass?
Is there a risk in putting money in a change pass?
Some people think of change as a wealth management product, but it is not, because change is just an entrance for us to manage money. When we put money in the change pass, we actually buy a money fund connected to the change pass, and the money fund is a product issued by the fund company, not a WeChat product.
Therefore, whether there is a risk in the money in the change pass depends on whether the money fund bought is risky, and it has little to do with the change pass.
Monetary funds are recognized as the least risky funds, although they cannot protect the principal and interest like bank deposits, but the probability of losing money is actually very low, at least there is no precedent for losing money. Therefore, the risk of putting money in the change pass is very low under normal circumstances.
In addition, some people may worry about the disappearance of WeChat or the closure of fund companies, and they will let the money they put in the change pass drift, in fact, this worry does not need to be there.
First of all, as mentioned earlier, after putting the money in the change pass, it is used to buy the fund, which has little to do with WeChat, because the money has entered the pocket of the fund company, so the disappearance of WeChat will not make the fund we bought disappear together.
Secondly, even if the fund company fails, the money we buy the fund does not belong to the assets of the fund company, and the fund company has no right to dispose of it, so in theory there is no risk.
Of course, the probability of WeChat suddenly disappearing or the failure of the fund company is already very low, and worrying about this is purely unfounded.
All in all, the risk of putting money in the change pass is still very low.
So, if you put 10,000 yuan in it, how much income can be generated in a year?
How much does it earn 10,000 yuan to save in a year of change?
At present, some monetary funds in the change pass are expected to have an annualized rate of return of about 2%, and the interest of 10,000 yuan for one year is about 200 yuan.
However, this interest rate is not fixed, because the yield of the money fund changes almost every day. Most of the time, the yield is between 2% and 3%, and the interest of 10,000 yuan for one year is between 200 and 300 yuan.
In addition, although the income of the monetary fund is calculated according to compound interest, because the money saved is not very much, the investigation time is short, and the interest generated is not very much, so it is not more than a few dollars calculated according to compound interest.
In short, putting money in the change pass is much higher than the interest rate in the demand deposit.
Author: Long Xiaolin / Review: Zhao Xi