Saving is a life saver and a good thing, no doubt.
I encourage saving alot too, but recently my view about saving changed, and that is because of the recent inflation in my country's currency, I learnt that a money saved in the bank doesn't grow and it losses it value , due to inflation. A money saved is only protected and only increases when you add more money to it , but a money invested grows more, yields profit and multiply too.
The investment could be in a little business , a share or joint business,but it yields interest and profit daily or monthly,more than a money saved or locked for a long time.
Saving is a life saver, it's a great idea, without Inculcating the habit of savings, one won't even think of investing , but investment multiplies money, more than saving does.
I have had savings and the moment there's a pressing or urgent need, the thought of breaking it comes to my head, that moment I begin to ask myself questions like, , why am I in this tough situation, when I have money saved in the bank ? The thought of withdrawal comes to my mind .
But when my money is in a business, and i feel I'm privileged to save from that investment, it gives me more power over my financial life, because the money keeps multiplying and that gives me a greater chance to save and still have money to run daily expenses.
I have come to realize that if I really want to grow financially, then I should learn to not just save, but invest money, This year I plan on investing money on businesses that would make the money grow and not protect the money, until it loses it value and can't afford anything, when I eventually need it , but investing money and getting profits will give me more money to attend to my needs and still save.
For the new year, I will not just save money, I will also invest money in businesses and shares , investing and saving are both important for one to be financially stable and prepared, and I will prefer investing in my country's currency and save in a more higher and stable currency, that's if I'm opporturned.
I feel that's the way to grow financially in my country, due to the inflation of our currency and I'm really sure this will change my financial life.
Thanks for reading ♥️
Vanilla 💗