One of the ways one can build up his or her financial status is through savings and through investment.
What is savings
Savings refers to the money that a person has left over after they subtract out their consumer spending from their disposable income over a given time period. Savings, therefore, represents a net surplus of funds for an individual or household after all expenses and obligations have been paid.
what is investment?
An investment is an asset or item acquired with the goal of generating income or appreciation. Appreciation refers to an increase in the value of an asset over time. When an individual purchases a good as an investment, the intent is not to consume the good but rather to use it in the future to create wealth.
How do you build wealth through savings and investment
One can build wealth and change your financial status through savings and when you save the money for sometime you can use and move the fund to invest in other things like cryptocurrency actually when you invest in cryptocurrency it is better to invest on long term investment because you make better profit when you invest on long term basis.
There are many work one can venture into that you will make massive profit. If you venture into one ,if you get a massive profit you can love it to other investment that what we call diversity.
Savings and investment can build up your wealth and change your financial status for good.