Saving and Investing

Saving involves setting aside a portion of your income for future needs or emergencies, typically in easily accessible accounts like savings accounts. It provides security and liquidity but may earn lower interest rates. Investing, on the other hand, means using your money to purchase assets like stocks, bonds, or real estate, aiming to grow your wealth over time. This usually involves greater risk but offers the potential for higher returns. Both saving and investing are essential financial strategies; saving ensures you have immediate funds available, while investing helps build long-term wealth.