Why Investing Is Better Than Saving
There was a time when all I knew about was saving up money and it was something actually rampant here in Nigeria which as I've grown to this level, I'd say it's because of how we were raised individually. It was quite surprising to me when my dad mentioned that what remains for him to do is investment, I was gladdened by hearing these words because this would be the first time it would pop forth from his mouth although I was drawn by the seriousness in his expression.
It's always been a strong drive within me to know why people always have money continuously and the discovery was made which drew my attention to investment.
Curiosity led to a drive that led to personal growth and development which is the uniqueness of everyone when we grow personally. I'd say my growth was led by wanting to transform my life and that of my family.
Savings just means that when you have money, you keep some aside till the time it's needed for use meaning that if $1k is saved, in 5 years, one would still come to get that same amount. Investing on the other hand requires one making their due diligence into where they want to invest their money because in as much that investing would lead to an increment in amount, for example, when one invest $1k and wants to take it out in 5 years,that would amount to more money depending on the gain that was made over the period of time.
Truth remains that one must make effort into determining if where the investment would be made would lead to the desired outcome. Crypto has shown how investment works especially after DYOR which is the first facet into investing in crypto. We can tell that there's volatility in crypto and that's the same with buying stock or any other investment aside investing in knowledge.
Everyone seeks growth and that's what investment does while savings just gives you same thing as you put in, the difference is absolutely clear that investing is the best way to go despite volatility and uncertainty in the future.
Investing shouldn't be done alone on the other hand same as just saving, I'd say the best way to good is to invest and save at the same time.
Thanks for visiting my blog till next time.