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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