What is your experience in Saving money? Is saving of more benefit when compared to investments?

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Wondering about the importance of savings and investment, most of us make mistakes in trying to detail what it implies. The thought of always acquiring wealth usually comes with diverse opinions on building a solid foundation. This opinion makes starting the journey somehow complicated. It is a necessity that an individual ready to create wealth and maintain it have some moments of self-discussion. Having basic scrutiny of the journey that has begun

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Saying someone who is having thought of a particular investment or saving plan has not started anything can be considered false. Seeing that it's through thoughts that action comes, this is the basic step in every successful journey.

Waking up to start making an investment that plans which come mostly through thoughts hasn't been made, attaining success on grounds like these is a rare fulfilment.

Savings and Investments.

Savings...

Savings is a form of keeping money aside. These money kept aside is not for keeping sake, but there is always a target for putting the money aside. Saving money is not investment, though it is sometimes considered as a step in making investments, in cases where there is no capital or the capital is not enough for a particular investment.

Saving is always done for two reason, it is either you want to purchase something in the future, and the other is for emergencies or personal upkeep. If a savings concept does not depict the above purpose, it should be considered something else or the wrong application of saving concepts.

It is necessary that everyone be entitled to a savings account because it is easily accessible in emergencies. The amount in any savings account is based on the budget and based on an estimated amount of an individual's personal upkeep.

Investments....

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Investing is basically done for the increase in value. Purchasing assets for the value it will generate in the future, assets such as stocks, bonds, and also in crypto. What is also necessary to note is that investments have to do with long-term goals, which require patience to wait till the investment has value.

Savings and investments are both important, seeing the purpose they both serve. In wealth acquisition, it's advisable that a n individual should dwell more on investments, avoiding acquiring properties that wouldn't add value in the future.

Your comments, upvotes, and reblogs, will be well appreciated. Thank you for reading 💯



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Yeap! Saving and investment both are important for us.
We can't go all in at our investment plans without any savings for backup or emergency, also we can't just sit on saving everything as they will not yield much, and eventually that savings will be gone if not earned more and more. From my point of view, there shouldn't be any equal balance like 50/50, one must find his preferences.

Suppose someone who is not married, has no financial responsibility to feed his family, doesn't have huge rents or bills to pay, shouldn't be focused on savings more than investments, he must go with more and more investment opportunities, not all in but the ratio should be bigger as he has not much of responsibilities to keep him in shackles. This is the time to expand his limits and make fortune.

In the same case, when that person gets married, has a family to feed, different responsibilities on his shoulder chained one after another, on those cases that person must think about his savings, he must have emergency funds, funds for future plans, regular needs and so on. He must carry on with his investments but the savings should be handled with more importance because too many things rely on him. He has to think twice before investing, if that money suffers a loss then how to overcome that in those situations should be planned.

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This is a very amazing feedback, let me say you have said it all because it is only when they are a lot of responsibilities that the period doesn't encourage investment and even though it does being able to invest more will be hard because of the crowded responsibilities. It is either your wife needs something or the child does.

I appreciate you stopping by Sir🙏🏻

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Yeap, we can't ignore our responsibilities, must be checked to maintain them properly.

Well, I am not anyone's sir, haha.

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😂😂😂
Why are you not anyone's Sir?

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Because I haven't tried to be like that.

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Your feedback tell me you are one 😁
But if you fail to accept that, I will call you my friend 😊

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