Saving is a life saver and a good thing, no doubt.
I encourage saving alot too, but recently my view about saving changed, and that is because of the recent inflation in my country's currency, I learnt that a money saved in the bank doesn't grow and it losses it value , due to inflation. A money saved is only protected and only increases when you add more money to it , but a money invested grows more, yields profit and multiply too.
The investment could be in a little business , a share or joint business,but it yields interest and profit daily or monthly,more than a money saved or locked for a long time.
Saving is a life saver, it's a great idea, without Inculcating the habit of savings, one won't even think of investing , but investment multiplies money, more than saving does.
I have had savings and the moment there's a pressing or urgent need, the thought of breaking it comes to my head, that moment I begin to ask myself questions like, , why am I in this tough situation, when I have money saved in the bank ? The thought of withdrawal comes to my mind .
But when my money is in a business, and i feel I'm privileged to save from that investment, it gives me more power over my financial life, because the money keeps multiplying and that gives me a greater chance to save and still have money to run daily expenses.
I have come to realize that if I really want to grow financially, then I should learn to not just save, but invest money, This year I plan on investing money on businesses that would make the money grow and not protect the money, until it loses it value and can't afford anything, when I eventually need it , but investing money and getting profits will give me more money to attend to my needs and still save.
For the new year, I will not just save money, I will also invest money in businesses and shares , investing and saving are both important for one to be financially stable and prepared, and I will prefer investing in my country's currency and save in a more higher and stable currency, that's if I'm opporturned.
I feel that's the way to grow financially in my country, due to the inflation of our currency and I'm really sure this will change my financial life.
Thanks for reading 鈾ワ笍
Vanilla 馃挆