Savings -Topic of saving money has been taught more than enough times until, to financial experts, it now sounds an outdated lesson.
It can be a good idea to save a portion of your earnings rather than spending; and this cannot be overemphasized, but it is another thing to save through investments.
Though in layman’s language, savings amounts to keeping money in a bank account or idle at home for some day use, this is no longer true in the current financial industry. Savings can also be in terms of investing.
Letting your money just sit in a savings account is regarded as one of the least effective ways to multiply add up your wealth.
The money kept idle in a home or bank account is doing completely nothing than gathering dust and, in fact, is costing you to keep it there; and in the long run, you may find empty coffers.
Remember, by factoring in inflation, the buying power of currency always goes down over time. This therefore means you are simply losing money in the name of saving.
To avoid this confusion, why not try stocks, mutual funds, bonds and real estate which in fact has today turned lucrative due to the high demand for housing especially in urban centers.
Investments than savings is a sure way of building wealth.
