Do you believe in savings or investment

[ndutndut]

I think both saving and investing are important, but they serve different purposes. Having a savings account creates a safety net for emergencies or short-term goals, it's easily accessible and low risk. Investing offers the potential for your money to grow over time, outpacing inflation. However, there is a risk of losing money.

There are wealthy teachers out there! They might be investing a portion of their income alongside saving. It's not about the profession necessarily but about financial strategy.

Correct. But Don't generalize all civil service professions like that, this is just about how one can manage financial strategies properly. Whatever the occupation, saving and investing is the path to financial freedom in the future, saving for emergencies and investing for financial freedom in old age. Everyone must have a view like this, saving all your money in the bank should of course be avoided because inflation is a real problem that makes our money lose its value.

Talking about civil servants, many civil servants in my place have become rich because they can manage their finances well. they mostly invest in property and business. Not many people know about bitcoin investment, maybe this is normal because where I live there is still little education about bitcoin investment, so many people who have high incomes don't know that bitcoin investment will make them rich in the future.

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[Natalim]

Saving is a good idea but it is much better to grow it through investing. Risk takers are preferred to have no savings but rather choose to invest.
Because even though we don't have any experience with investing or only have little knowledge about it we can still do it. There are firms that will help us manage our funds. There are some ways to grow our money and the only thing we do is to take risks and of course, put our money in a secured investment. Many people have lost their money in investing because they invest the wrong one or let us say, scam investments like Ponzi schemes.

[Queentoshi]

What do you think?

The outside people who earn very well and still indulge in saving are doing so because that is the practice that they are used to, it will not be easy changing and getting used to investing occasionally rather than saving.
And also we have the opportunity of investing in bitcoins, we can fully decide on investment here, but it is not same with an advanced person or someone who has not yet accepted the reputation of bitcoins.

[oktana]

If you have investments, you can become wealthy. But if you have savings you will just be rich instead. And being rich is temporary if there isn’t a stable/reliable source of income. I’ve said this before and I’d say it again; you can’t save your way to wealth, you can only invest your way up there. There’s no wealthy person who said in their success story that saving money is what made them wealthy. You have to put the money to work.

[serjent05]

What do you think?

Investment is way better than savings in terms of gaining profit since investment is a venture that can yield profit and grow a person's financial capability but savings are also important.  It is one of the way of person to accumulate fundings in order to invest in ventures that a person cannot afford with a single salary pay out.

I think we don't need to think about how important these two things are, they are both very important in achieving one's goal.  Aside from that, it s very important to have some funds in spare (savings) in times of emergencies.  Money invested on some ventures needs some time to mature to be pulled out, while money invested on cryptocurrency needs to wait for some time to yield profit.  So in times of emergency, if one does not have any savings, he will be forced to pull out his investment immaturely causing losses, or sell his crypto-investment at a price he is not happy with and most probably lower than his buying price due to the nature of cryptocurrency being highly volatile.

It is best to have both approaches (investment + savings) toward our finances.  Saving money aside from investing will help us secure our investment in times of unexpected events.

[Assface16678]

If you have investments, you can become wealthy. But if you have savings you will just be rich instead. And being rich is temporary if there isn’t a stable/reliable source of income. I’ve said this before and I’d say it again; you can’t save your way to wealth, you can only invest your way up there. There’s no wealthy person who said in their success story that saving money is what made them wealthy. You have to put the money to work.

Exactly! Its not bad to save up money because it is for your future or servers as securing your future, but it doesn't mean that all your money should be sitting around in your savings account and doing nothing. What if you have an emergency and you need to use your savings, so back to zero? Saving money again and again? So the most practical way of becoming wealthy in life is to combine investment and savings, divide your main income or your total income into the sections you need to, and allocate something for savings and investment because if you prosper in your investment, you can expect to save more money, right? So continue the cycle, and you will come to the point in your life where, no matter what happens, even if you get retired, you still have passive income because of your investment or business and also security because you have quite a bit of money saved up in your accounts. Isn't that the best option in life?

[Faisal2202]

For quite some time now we have been hearing about savings and most people who are working in some oil firm or some civil servants so much believe on saving and their pension. What if those savings are turned into investment what do you think could be their results by now extremely rich or wealth?

Of course investments bring more money if don't go sideways, and are invested properly. And savings don't earn us any money they just lay there and lose their value due to inflation, in simple words, devaluation occurs on savings if kept in fiat currency. I have observed this from my personal experience, I kept my savings in BTC and made good profit on it, and converting my fiat to BTC makes my savings in fiat to an investment. Because money in BTC is an investment. So I am making a profit on it.

But investment also means we can lose our funds also, as in loss. Anything can happen, all we need is proper investment knowledge to make a profit. In investment, investors needs funds so first they might have to make some savings to invest in something, and even after making investment, savings are needed in desperate times for example when the market dumps, or a good buying opportunity comes. So savings and investments must be adopted, adoption of one can't benefit you more, but both can give you more benefit.

[ringgo96]

If you have investments, you can become wealthy. But if you have savings you will just be rich instead. And being rich is temporary if there isn’t a stable/reliable source of income. I’ve said this before and I’d say it again; you can’t save your way to wealth, you can only invest your way up there. There’s no wealthy person who said in their success story that saving money is what made them wealthy. You have to put the money to work.

Actually saving and investing both want to save our assets for the future, but for smart people in business they prefer investment when compared to saving, because when investing our assets continue to grow and can occur beyond our predictions, but for savings it will be calculated according to the funds we save and we can only enjoy in one stage if we do not have other assets that are running and can give input, then save first then the results of our savings make capital to invest and I think this is a very good idea.

[Ndabagi01]

Some people will disagree with your claim and believe that saving is a much better option if you don't have a worthwhile investment that will yield good returns after a specific time frame. As for those of us who are aware of real-time events around the world, as well as the benefits of being enlightened about the crypto world, we will prioritise investing over saving because we understand how the world's activities are changing, requiring you to be more productive and have a source of wealth that will help sustain you in the economy. There is just a little risk involved here, and if you can take it, you will become more successful than just keeping all the money in a savings account.

[oktana]

If you have investments, you can become wealthy. But if you have savings you will just be rich instead. And being rich is temporary if there isn’t a stable/reliable source of income. I’ve said this before and I’d say it again; you can’t save your way to wealth, you can only invest your way up there. There’s no wealthy person who said in their success story that saving money is what made them wealthy. You have to put the money to work.

Actually saving and investing both want to save our assets for the future, but for smart people in business they prefer investment when compared to saving, because when investing our assets continue to grow and can occur beyond our predictions, but for savings it will be calculated according to the funds we save and we can only enjoy in one stage if we do not have other assets that are running and can give input, then save first then the results of our savings make capital to invest and I think this is a very good idea.

I looked at the post in-terms of making money, which I believe is what the OP meant. But let me mention that investment doesn’t stop you from having savings. This is because when you invest your money, it is very possible that you run into something that you would need money for. And if you didn’t save a part of the money, you would have to take it out from your investment (which is extremely bad). But you equally should have investment or the savings would get exhausted and there won’t be a way to get money anymore.

[goldkingcoiner]

For quite some time now we have been hearing about savings and most people who are working in some oil firm or some civil servants so much believe on saving and their pension. What if those savings are turned into investment what do you think could be their results by now extremely rich or wealth?
No wonder teacher or lecturers are not wealthy due to their this mentality of thinking we hardly finds out a very wealth teacher across or locality.

For long have been around here seems like people who belongs to this world think much of investment than savings while the real world focuses more on savings but if I could recall correctly, any money in savings doesn't yield and add to the account while investment is what gives us money or profits at every end of the day week or month irrespective of how little it could be it's better to have investment than savings.

What do you think?

Savings is an investment into fiat. And now you have to decide whether it is better to be invested in fiat or something else. You might be thinking that fiat is less risky but I personally find staying with Bitcoin safer.

[Adbitco]

What do you think?

I believe if those people who still saved their money with banks or government owned bodies knew about these investment opportunities where you hodl and watch your money grow in the long run, they probably won't be on the idea of saving anymore. What I think is that they lack information about these investment ideas and for those who knows about them but still prefer to save their money may just be ignorant and unwise.
Most times, peoples wrong mentality and beliefs about these online Investments has created hindrance for many investment opportunities that has come their way which might have changed their lives for good. They feel and think that anything that has to do with online investment are scams so they prefer to just save their money in banks. Unfortunately, while they think their money are saved in banks, these banks loans our their money and make good profits off them annually and give them no interest in return. So it would be better to start making the right choices that may affect ones future positively.

I am not only channeling the investment of a thing to be in bitcoin investment or online but what I am trying to say is that if they could change their mentality to something very different then we may have less teacher that are still poor over there in our localities.. That is why after we graduate from school we don't get rich instantly unless we go for financial education we have to learn how to manage and invest money to give us what we want than dumping our money in bank while we make manager and owner's wealthy by using our money for business.

A teacher can decides to invest their money in real estate or invest their money into landed properties where the portion of land can appreciate over time lets say, when they invested in a land worth NGN 500k during their first stage or level rank in their civil service, before they could get to final level were they may get to retirement stage that land they invested with 500k can worth over NGN 100m because it takes about 20 to 35 years of service to be retired.

Meaning their initial age plus their service year, if they were being employed at age 25 to 30 years then their service year 30 years that means totals to spend is around 55 to 60 years at this point the investment made can yield a good profits than keep saving 500k for over 30 years without any good profits in that money.

This made even after their retirement they still remained poor and wanting their children to come take good care of them, if they can understand the power of investment then they should learn to invest than savings because I believe saving goes no where and as a matter of fact saving 500k for 30 years may not worth any tangible thing in time to come because of inflation.

[PX-Z]

Not all investments have profits, and not all savings helps. If people doesn't know how to diverse their money possibly they will end up nothing.

What if those savings are turned into investment what do you think could be their results by now extremely rich or wealth?
No wonder teacher or lecturers are not wealthy due to their this mentality of thinking we hardly finds out a very wealth teacher across or locality.

It's easier than done, investments takes time to make profit depends on what industry you are in, and it needs knowledge, guidance and advises to be a good investors, at last to make profit. Teachers and public servants are eaten and tied by the system, and were stuck on their job doing only their job, even cannot give time to their families most of the time. I'm in family full of teachers from my mother and father's side, that's why i observed.

but if I could recall correctly, any money in savings doesn't yield and add to the account while investment is what gives us money or profits at every end of the day week or month irrespective of how little it could be it's better to have investment than savings.

Just like i said investments needs more knowledge to dwell in it. Not because you cannot "earn" or make "profit" on your savings, it doesn't mean that investments is always better than savings. Savings have its own ways and work most of the time to people, more like emergency funds, these are the average wager.
Those people who have extra earnings or in the middle class can make investments, started their little business, while they have jobs. While the elites are focus to grow their portfolio, their businesses, stocks and investments.

[poodle63]

Savings is an investment into fiat. And now you have to decide whether it is better to be invested in fiat or something else. You might be thinking that fiat is less risky but I personally find staying with Bitcoin safer.

ain't investment if this thing just keep decreasing in term of purchasing power the today fiat is not the previous year fiat and its plummeting in term of value every year, maybe its an investment if we are investing in a currency against our own currency and the price increases overall I never ever considered fiat an investment.
basically what I consider an investment is when it could somehow grow or retain the value of our wealth then i will only consider it an investment i mean people could have differing opinion and thats totally fine here.

but just to give a heads up that while fiat plummeting in purchasing power bitcoin just doubled or more its purchasing power relative to fiat so I guess thats why people consider cryptocurrency an investment these days and not fiat. still fiat has the use though its really good for storing wealth for certain moment since the value decrease aren't that fast, otherwise i'd be storing my wealth in gold.

[AmoreJaz]

Some people will disagree with your claim and believe that saving is a much better option if you don't have a worthwhile investment that will yield good returns after a specific time frame. As for those of us who are aware of real-time events around the world, as well as the benefits of being enlightened about the crypto world, we will prioritise investing over saving because we understand how the world's activities are changing, requiring you to be more productive and have a source of wealth that will help sustain you in the economy. There is just a little risk involved here, and if you can take it, you will become more successful than just keeping all the money in a savings account.

This will depend on your financial management capability. Some people are just happy to have savings as they don't need to do anything. Whereas, some will venture into investments and are willing to take some risks.
Bottomline, it depends on how prepare you are in exploring your choices. It is your funds, so better take care of your own business.

[boyptc]

What a coincidence, I've just watched some compilation videos of Robery Kiyosaki and one he said about saving is that, "we've been told to do".

We've been told to save, and then with that savings, we can invest that money in the stocks and let that money work for us and we'd be rich. Actually, that's what the society tells us to do and the banks run the world as he said.

I believe in both things because you can move freely and do whatever you want if you've got a nice savings and as well as investments that are growing in value like Bitcoin.

[Viscore]

What do you think?

Both have advantages and disadvantages. But if you think investing is better than saving because your bitcoin investment is giving you profits, but have you thought about the situation where your investment is at a loss? If you have no savings, you invest it all in bitcoin and lose, what will happen to you?

Many investors are starting to profit and they think they are smart and always make wise choices, they forget one thing that everything has pros and cons. In addition, if saving or keeping money in the bank is stupid, why do billionaires and businessmen, in addition to investing in many other assets, they always keep a huge amount of money in the bank?

I also believe that both can bring advantages. But if someone would focus only to mere saving, that would be a loss of opportunity because one with huge savings can actually learn to invest even a small portion of his funds. But for those who take both sides at a positive way, surely they will end up financially secured and independent while those who focus only at a single side might see theirselves if not profiting, probably at a losing end.

[Volimack]

Trust in savings and investment to meet future financial goals. As the rate of return on savings is very low, the amount of money earned also decreases over time. If the financial goal is long term and you can wait a long time to realize a profit from the investment your investment may be worth it. As it allows you to build wealth for your next generation over time it also provides a guaranteed income opportunity for you and your spouse in retirement.

[wxa7115]

For quite some time now we have been hearing about savings and most people who are working in some oil firm or some civil servants so much believe on saving and their pension. What if those savings are turned into investment what do you think could be their results by now extremely rich or wealth?
No wonder teacher or lecturers are not wealthy due to their this mentality of thinking we hardly finds out a very wealth teacher across or locality.

For long have been around here seems like people who belongs to this world think much of investment than savings while the real world focuses more on savings but if I could recall correctly, any money in savings doesn't yield and add to the account while investment is what gives us money or profits at every end of the day week or month irrespective of how little it could be it's better to have investment than savings.

What do you think?

You cannot really invest if you do not have any money saved, so it is not as if you have to pick one or the other, and for what I can see this is the biggest problem of my generation, they save nothing, and if they were to lose their jobs they will find themselves on the street in just a few weeks, if they could not get a new job soon.

However, the few people out there that save fail to take the next step, which is to invest that money as they do not really know how to do it, so they are afraid that if they were to make a mistake they will lose it all, a reasonable fear as most of those that invest for the first time lose everything.

[mich]

Well I think having savings saved up is more important then a investment. There is times is our life when we need money to have basic things like food, clothing, and shelter.

It is only a good idea to invest if we can afford to lose those funds. There is no way to make sure we get good profits from a investment. But having a savings we know our funds are safe and we can use them when we have to.