Save money or invest? Which is really better between these two?
First of all, let’s look at the benefits you will obtain when you save.
Saving will give you the advantage of getting your money easily in times of emergency or for your immediate needs. So saving is pretty important. Choose a bank that will provide you 24/7 service and assistance. And choose one which is near your place of residence or work.
One more good thing about saving is that you are assured that you have some funds left which you can use after paying your bills, loans and other expenses. So it is much better if you learn how to manage your money, especially your income. Don’t just spend lavishly. Make sure to pay all your monthly bills to avoid paying big interests or penalties.
And yes, you can save for your travel goals too.
Living is much fun when you learn to save money for the things you wish to do such as travelling. But do those things only when you’ve already allotted a budget for that. This means you have to save first before travelling.
Then let’s think about investing. What’s in store for you if you invest?
Investing your money in stocks, mutual funds, insurance or other financial platforms will provide you with better retirement years. These are the funds you will not easily withdraw so they will remain your investment for as long as you want.
You will surely benefit from investing because the money you put in it will grow even if you don’t exert much effort. Just learn to choose the profitable companies to invest in. Attend seminars to determine these companies and their status in the stock market.
So which is better? Save money or invest?
You will benefit both from the money you save and from the money you invest.
Let’s summarize the things we’ve learned. Saving will give you easy access to cash for unexpected expenses. On the other hand, investing will provide you with the fund you need when you get old. And the fund you allotted in it will accumulate in time, provided you’ve chosen reliable and profit-generating companies to invest in. So both of them are better for you.
In this day and age, to save money or invest is of essence to your continued goal of pursuing financial literacy for your future generation.
To have financial freedom must be your ultimate goal why you work so hard every day. Aside from providing for your family, you need to think about your retirement. And that’s aside from having life insurance or other stuff that will help you cope with life expenses when you’re not that young anymore.
When the younger generations see you save money or invest, they will realize why it’s valuable to do it.
They will make you a role model and they’ll know even at a young age that saving or investing will do them good. There are so many values they’ll glean from it. They’ll become more responsible, know the value of money and won’t just spend without thinking. What’s more, they’ll think about their future, that they have to work hard in order to have a better life.
So don’t choose between saving money or investing.
Do both. They are necessary while we’re here on earth. But while you do these things, don’t let your relationships suffer. Balance everything in life. Work hard and save money, but save time for your family or loved ones too. Invest in stocks or other investment schemes, but invest in your personal or social life too.