Savings alone can't guarantee financial wellbes

[Stardom22]

Savings are not bad things. However savings should be combined with some investment instruments for optimum profit generation. What do you think?

 

[SHAHID987]

Obviously, it is fact let's suppose we just save and save but due to inflation the money always devalued. If we start investing for example in gold then it's prices are continuously increasing.

 

[eLdavis]

Very true, you cannot get financial freedom bby just saving alone. Savings is more like keeping money to spend later on.

 

[Springtime]

Yes, with the current low interest rate and the high inflation rate, only savings alone will not give us financial wellbeing. We need to make wise investments as well.

 

[magnus2022]

Saving is not the same thing as investment. Though, for a novice in financial markets, saving is the same thing as investment. Saving doesn't have much interest and can lose value once there is increase in inflation.

 

[Stardom22]

Saving is not the same thing as investment. Though, for a novice in financial markets, saving is the same thing as investment. Saving doesn't have much interest and can lose value once there is increase in inflation.

Saving a lot and not investing is like wasting of resources. For one to gain financial excellency, they should do beyond saving money.

 

[magnus2022]

Saving a lot and not investing is like wasting of resources. For one to gain financial excellency, they should do beyond saving money.

You are right! Savings does not translate to financial freedom. You need to be proactive in investing to be financial stable!

 

[Augusta]

I prefer for 9ne to keep working to make money that's when you would when you can gain financial stability. That's the truth

 

[neku]

Investors from poorer communities are often targeted for identity theft and resume robbery by the rich and powerful, so fighting the resume robbery is more important than saving money.

 

[Suba]

That's absolutely right, my dear friend. Saving alone can't achieve financial wellbes. In fact, you'll lose out if you have a large amount of savings, because the interest earned will be eroded by inflation. So, even if the nominal amount of money increases, its value decreases. Therefore, it's best not to save more than three months' worth of expenses; allocate the rest to investments.