Most people struggle to decide whether to save their money all their life or to invest, taking risks. In my opinion, you should invest as well as save.
In fact, I suggest you have three bank accounts.
1st Bank account: For EMERGENCY
Every month, deposit a certain amount from your salary to your emergency account. Keep in mind that you should never withdraw money from this account unless there’s an actual emergency. This is only for emergency purpose because an accident can happen at any time and you have to be sure you have sufficient fund. Also, select the bank that gives you maximum interest.
2nd Bank account: For INVESTMENT
Deposit certain amount to this account with the aim of using the money to invest when you find a good deal. Once a certain amount has been saved, use that money to invest. Only saving cannot make you rich because the value of money decreases with time due to inflation, thus you must invest too. The revenue generated can further be divided as per your wish to be deposited in your choice of account.
3rd Bank account: For SAVING
This account is your savings account; the account you will use to deposit extra cash, and for your expenses. This is your handy bank account.
I hope you find this useful. Thanks for reading.