Written by: Priyanka Gaud @_resonance_of_mind @priyanka_gaud
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There are many benefits of saving and investing money. In today’s era and situations it is necessary too, as this supports our future life and improves our current living quality.
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When a certain part or a count of money is set aside for emergency purposes or for many other necessary uses it's called saving money.
“Do not save what is left after spending, but spend what is left after saving” - Warren Buffet
As these words by Warren who is a famous well known investor and businessman, portrays a sensible notice clearing that the saving should be performed before spending any part of income. It means saving should be a priority. It helps in various ways mentioned below.
Saving help creating wealth
It helps during inflation period
Provides help during emergency occurrences
Prepares us for difficult times
Saving also helps to reach our financial goals
Supports in well planned future life
Which promotes in increased living standards.
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When money is layed out in business with the view of obtaining an income or profit or to invest money in bank stocks, equities, etc. in order to increase the current value & quantity of money is said as investment of money.
“Investing puts money to work. The only reason to save money is to invest it.” - Grant Cardon
As these framed words by Grant, clears us that the reason we earn money is to increase our savings, so it should be invested somewhere which will make growth in itself by the time. Saved money will work for itself to earn more it is real investing. Points mentioned below are some of ways to invest.
- To perform investment you can start by depositing money into FD (Fixed Deposit) and RD (Recurring Deposits) which are present in banks. This has returns in percentage of interests according to respective banks.
- You can also invest in shares of different companies. Buying equities, preferentials or bonds of companies or businesses. In exchange you’ll get dividends as returns.
- You can purchase assets like land, estates and even art pieces & antiques of which in time value increases. So you can sell it when needed.
- Your money could also give you better returns after investing in mutual funds. This is said a safe investment.
- You can also learn new different things and add value in your personality. As it will make you more skilled which increases your value.
- Investment will also teach you planning budgets & qualitative ways of how & where to utilize
By providing this informative ideas I end my words with the hope that you will perform at least one given reason. Keep saving, keep investing & growing.