Hard times calls for hard decisions, everyday comes with its expenses but we can never be too prepared for tomorrow, what if the job stops paying, what if the company I'm employed to closes up, what if I get into unexpected needs, would I have enough to settle the bills? How about planning for a future, I want to get this or buy that in 2 years times, I want to plan this down for my unborn kids, then I have to start now, be it a plan for unforseen occurrences or a plan for a better future, we have to plan it now, and this planning has to fall between two options, do I save or do I invest.
I very much want to use this post in breaking down the benefits of both as well as their other angles to note. Won't really call it a detriment or side effect because it is not certain, just as a seed sown to a ground is left unknown if it would germinate or not until it starts showing forth growth, same goes to this savings and investment, sometimes all doesn't go too well while sometimes it does, the best we can do is go with past records, that is if that medium has shown good results overtime then it'll be safer to save or invest with it. Lets dig in fully.
Savings :
As much as most people would prefer to invest their cash for a greater return tomorrow, some people too are skeptical and feel its safer to save it and keep saving it bit by bit until the set time they'll be needing it. They prefer this more than blindly offering their hard earn money into an idea they can't fully control, even if they had a say about it but it still isn't an 100% assurance of it's promised return. However its not easy for people saving too they have a lot going through their minds.
Questions like, how do I save then. Is my bank credible? How sure am I that the financial sector I'm saving with won't fold up before the time I need it. Would I be happy when my colleagues who invested theirs are enjoying a multiplied return and I'm just having that which I have saved. Or do I just save my money the old way, that's is build a place to store it at home. Moreover its safer this way, but won't it decay?
Hold on let me take a look at the investment angle.
Investments :
Oh so many people right now are drifting towards this direction, many thanks to Cryptocurrency being an eye opener to the need of investments, well it still is an eye opener to the dangers of investments, as you could still hold on a bad timing and lose your money. But generally everyone wants to invest which is a great idea, to put in little today and that little turns out to be multiplied in the future making you smile to the bank.
However one has to be careful with investment, and be truly sure the platform is worth the promise they profer. So many including myself has fallen into the hands of bad investments, only to later regret the decision and hoping I saved or spent it too, but this doesn't make investments generally bad. Many have invested wisely and are eternally grateful for the faithful day they made that decision. It truly goes both ways, you win some you lose some, until you learn and know the best option to follow. Let no one lie to you, both saving and investing are risk, but are risk worth trying.
I'll keep on saving as well as investing, my past experience or bad rumors I've heard are not getting deep into me, then how about the awesome stories I've heard from people who invested or saved, or the few I saw for myself. I guess the best action is to take time to study whichever or whatever you want to invest in, reason cause you can't blame anyone for things going bad, so you have to research for yourself, if after your findings it is okay by you and your mind is willing to try then you can. Its what makes us great, making tough and analytical decision. I strongly believe we'll make the best choices.