Before explaining why you are being scammed by your bank through your Livret A account, I would like to tell you about Snowball , Yoann Lopez ‘s newsletter .

Not to present this newsletter, but to share with you some information transmitted by Yoann which particularly surprised me.

This is what happened.

Last week, and like every week, I received the new edition of Snowball in my inbox  . And in the introduction to this new edition was a number…

268 billion euros is what the French saved between the start of the pandemic and June 2021.

It’s monumental.

Not only is the amount incredibly high, but it is also much higher than usual!

Consider: over the same period, we are supposed to save and manage our money by saving around 111 billion euros. In other words, the pandemic has “forced” us to save an additional 157 billion .

I say “forced”, because this excess savings is absolutely not voluntary!

Employees, entrepreneurs, independents — the health crisis had the same effect for everyone: we all found ourselves locked in our homes, for an indefinite period.

  • It is impossible to go to the museum or the cinema on weekends;
  • Impossible to go out to restaurants as a family;
  • And obviously, it’s impossible to go on a trip or move around.

Every day, the money you usually set aside for these little pleasures (or big projects) has not been spent.  And it has accumulated, day after day, euro by euro, over the entire duration of the confinement .

On our scale, it may only represent a few tens, a few hundred or a few thousand euros.

But on the scale of the French population, that represents… 268 billion!

You’re going to tell me that it’s not a problem, and that we’re not going to complain about having (finally) put some money aside.

And basically, you’re right.

The problem is elsewhere. It comes from another number, which I discovered in this same edition of  Snowball …

167 billion.

These 167 billion correspond to the share of the 268 billion saved which ended up in a Livret A. To give you an idea, that represents a little over 60%.

60% of the money saved during the pandemic was placed in Livret A accounts.

You will quickly understand that this situation only suits one person. And unfortunately, it is not you!

But before that, here is an outline of the article so that you can understand as best as possible what I will explain to you afterwards:


We all have a particular affection for our Livret A to manage our money.

It is very often the first account that we open to place our very first savings and manage our money by saving. And it’s very often the account that follows us all our lives!

But it seems that this affection is not mutual.

Because the problem with Livret A  is that it doesn’t save us a lot of money . In truth, it’s worse than that: it’s making us lose money!

The calculation is simple.

The interest rate on your Livret A can vary depending on your bank, but is generally around 0.5%. So if you keep €1,000 in your Livret A for 1 year, you will earn €5 in interest.

But in the meantime,  inflation continues to rise  ! And inflation is rather around 1.5%  (I took the figures from INSEE) .

This is where the problem lies.

Because if inflation is higher than your interest rate,  that simply means you are losing money . The €1,000 that you placed in your Livret A 1 year ago is now only worth €985, and it is not the €5 in interest that will compensate for this loss.

In other words :

  • Your Livret A does not wish you well;
  • You lose money;
  • And it’s not even your fault.

And you want to know the most annoying thing about this story?

It’s because there is still a “person” who is rubbing their hands about it.

And that “person” is your bank.

Because the only objective of your bank is not to help you build your safety cushion:  it is to keep and manage your money well for as long as possible to make it “work”  (implied, the ‘invest).

And these 167 billion that accumulate in simple Livret A accounts are a real godsend for her!

It’s his business, we can’t blame him.

But personally, I hate it.

I hate getting ripped off — and knowing that my bank is making money off of me (while I’m losing money) gives me that nasty feeling of being ripped off.

I’m not saying that my banker tries to scam me every time I have an appointment with her, far from it  (she has actually been incredibly patient with me over the past few years, and I thank her for that!) .

But that doesn’t change the result: it’s the employee, the self-employed person, the entrepreneur who loses money! Not the bank.

It’s a bit the same with brokers.

Not all of them are out to get as much money as possible out of our wallets — most of them are in fact perfectly well-intentioned. But the moment they earn commissions on certain financial products, they are unwittingly encouraged to preach to their own parish.

This is why there is a golden rule that we particularly insist on in  the Personal Finance training  :  you should only place your “safety cushion” in your Livret A.

You should only put this small reserve of emergency money in it, which you can immediately access in case of a hard time. Nothing else.

The rest is what is called “dormant money.”

Money that doesn’t work, that loses its value, and that  ultimately  makes you lose money.

However, there is no shortage of solutions! We are extraordinarily lucky in France,  which is to have a whole range of solutions to “work” and optimize our savings by completely leaving the banking system .

This was something unthinkable a few years ago, but it is now a reality: no, banks no longer have a monopoly on our savings.



Invest in the stock market to manage your money

Indeed, investing in the stock market does not allow you to completely exit the banking system — I recognize that. You must always take into account the rules of the market, which are themselves regulated by our financial institutions.

But I invite you to take a step back.

Because the Stock Market gives you an incredible opportunity (especially if you are an entrepreneur): become shareholders in a company that you admire.

  • If you are a fan of Apple products, you can buy Apple shares.
  • If you sell your creations on Etsy, you can buy Etsy stock.
  • And if you have an e-commerce store on Shopify, you can also buy Shopify shares.

You can participate in your own ecosystem, invest in its development, and reap the benefits of its dynamism.

The only condition is that the company you admire is listed on the stock exchange.  And that usually only applies to very large companies.

But that doesn’t mean it’s impossible to invest your “COVID savings”  (as journalists like to call it)  in small businesses.


Invest Start Up

No, investing in start-ups is no longer reserved for a Parisian elite, nor for a small part of the population who have the right networks!

Today,  you can invest in a whole bunch of small businesses with high potential , or in entrepreneurial projects that you want to support. And for that, new platforms are being created everywhere.

I think of Lita or Anaxago for example, but they are not the only ones.

The only problem is that it’s a rather risky investment.

So I would like to counterbalance this option with another proposal, much less risky, but just as anchored in the real economy.


SME loans

This is something I do myself, through a platform called October!

I regularly lend a little money to profitable SMEs who want to borrow, but who see their loan applications refused by traditional banks.

Beyond earning much higher interest than my savings account, I know that my savings contribute to the development of a business , but also to the personal development of an entrepreneur.

I consider it our duty to help each other — and lending a little money to companies looking to develop their business, I think it’s a very good way to invest your savings.

There is also a free aid simulator to find out what aid you are eligible for.

4. ART

manage your money with art

Art is, in my opinion, one of the most underrated investments of the 21st century.

  • Not only has art continued to increase in value for decades;
  • But in addition, art is an investment completely detached from the financial system.

In other words, neither the volatility of the financial markets nor a global financial crisis will affect the value of your investments in art!

And the most interesting thing is that art is (in turn) no longer reserved for an elite.

You no longer have to buy a painting for several tens of thousands of euros to invest in art:  online platforms like Masterworks allow you, for example, to buy “shares” of paintings , in the same way that you can buy “shares” of a company on the stock market.

And that’s a little revolution!


manage your money with cryptocurrencies

I prefer to be very transparent with you: I am not trying to convince you that cryptocurrencies are the currencies of the future.

The only thing you need to know for now is that cryptocurrencies look a lot like the euros you have in your wallet, or in your savings account.

These are currencies that allow you to buy a car, training, or your groceries for example. And there are multiple platforms for investing in cryptocurrencies , such as eToro .

However, two fundamental differences must be distinguished:

  1. They are completely virtual (impossible to have 1 bitcoin in your hands for example).
  2. And they are completely decentralized: they are neither managed by a state, nor by a financial institution, nor by a particular person.

And this is precisely what worries those most resistant to cryptocurrencies:  they escape all regulations  !

For some, it is a danger. For others, it is an opportunity: to finally be able to live outside the banking system, and to invest their money where banks have no power.


I would like to emphasize two points here:

  1. No, the 5 solutions I have just presented to you are not the only ones for managing your money well when saving.
  2. And no, I am not able to recommend one over the other.

I prefer to leave this work to Yoann Lopez, who has both the expertise AND the certifications for this.

Before writing this article, I went to take a look at our new Personal Finance training. And what I can tell you is that Yoann presents you with at least 7 additional alternative solutions in the last module .

You will therefore have 12 solutions for investing these 167 billion which are patiently waiting in each of your Livret A accounts.

I’m not going to list them all, but some will be familiar to you (like gold and precious metals for example), and others will surprise you (LEGO or even NFTs).

And that’s where the whole point of our Personal Finance training lies:

  • Yes, we dedicate an entire module to managing your budget. This is an absolutely fundamental notion, and I hope that this training will be accessible to as many people as possible — even to those who have not yet saved anything.
  • Yes, we dedicate several modules to traditional investments (such as savings plans or real estate for example). Not everyone has the same investor profile, nor the same philosophy of personal finance.

But this training also aims to give you an overview of the different options available to you . Even if these are options that your banker has never presented to you before!

The goal is basically to help you develop your own investment philosophy.

A philosophy that is aligned with your values, your constraints, and your way of life. And of course, a philosophy that allows you to devote yourself to your passion, to your profession, to your business, without compromising your financial security!

Employees, self-employed workers and entrepreneurs –  I believe it is time to take these additional 167 billion out of our Livret A savings accounts .

I also believe that you will find in the Personal Finance training  all the sustainable alternatives for investing this money.

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