Keeping balance between saving money and investing money.

[Mikes smithen]

Saving money and investing money at the two most important activities and individual can carry out in his own her worlds and if an individual collects his or her salary for the months it is expected for him or her to allocate reasonable amount of money for investment purposes and also reasonable amount of money for saving proposes. Whether you are saving money or investing money it is expected that you do it cautiously and wisely and you strike a balance between them. Remember that you still have to allocate reasonable amount of money for your feeding and buying of daily needs.

In order to strike a balance between saving and investing money you need to carry out a budget and in this budget you would be able to write down those things that you are saving your money for as well as those possible investments that turns out to be true and will yield profit in the future.

 

[Augusta]

Yes, people need to continue saving money and investing money but try to strike a balance so that none suffer as the two are really important Striking a balance between them bring a financial stability to an individual.

To strike a balance between saving and investing money it is good to plan and have a budget and in this budget you would be able to write down those things that you are saving your money and how much you would invest

 

[moonchild]

Yes, this is really important, you have to invest your saved money, else they'll never grow and inflation might also reduce your purchasing power, I always advise people saving to have a goal, saving for the purpose of saving might not help you reach your goal because at the end of the day you might spend it impulsively on stuffs you don't even need.

Any excess savings should be locked away in an investment account, you can learn how to invest as its not difficult and you'll be able to manage your money putting it to work for you, it's a wise decision.

 

[btaliat]

Some will say, we save money to invest and as well, we invest money to save money. The two concepts at the end of the day have the same benefits. Those that save money only do so to invest the money in order to get the money multiplied. This is because, hardly we can get our money multipljed without any investment.

Those that invest as well will end up do it in order to save the money from being over spent or for some particular project. This is the reason why we need to invest just the amount we can afford to lose.

 

[Suba]

I agree with you to be able to allocate income appropriately, we need to make an expenditure budget, where you can determine the amount that should be consumed for daily needs, saving and investing. Apart from that, you also need to create a priority scale and be able to distinguish between needs and wants. But the most important factor is not the budget you have made but discipline and compliance with what you have made in the budget.