STORE MONEY Meaning and
Definition
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Store money refers to the act of putting or depositing monetary value in a secure place with the intention of preserving its value or using it at a later time. This can include various methods such as placing cash in a physical safe, depositing funds in a bank, or utilizing alternative financial instruments such as investment accounts or electronic wallets. The purpose behind storing money is primarily to safeguard it from loss, theft, or devaluation, while allowing individuals or entities to access and utilize it when needed.
One common method of storing money is through bank deposits. Money stored in a bank is typically insured, offering protection against theft or the bank's insolvency. It provides the account holder with various benefits like the ability to earn interest on the deposited funds and access to a range of financial services.
In recent years, the emergence of digital technology has expanded the scope of storing money. Electronic wallets or online payment platforms allow individuals to store money electronically, providing convenient access through smartphones or computer devices. These platforms often offer additional features such as making payments, transferring funds, and managing multiple currencies, providing flexibility and ease of use.
Ultimately, the act of storing money is crucial for financial planning, security, and future financial goals. It enables individuals and businesses to accumulate, preserve, and manage their wealth effectively while ensuring liquidity and ready accessibility.
Etymology of STORE MONEY
The phrase "store money" is a combination of two words with different origins.
1. Store: The word "store" originally comes from the Old French word "estore" which means "provisions, supplies, or food". It can be traced back to the Latin word "instaurare" meaning "to renew or to restore". Over time, "store" came to refer to a place where goods and merchandise are kept for sale or where people can buy things.
2. Money: The word "money" is derived from the Latin word "moneta" or "monetae", which referred to a temple in ancient Rome where coins were minted. This Latin term was derived from the name "Moneta" which was an epithet of the goddess Juno, who was worshipped as the guardian of funds and finances.
