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Saving on its own is kind of futile, you can spend money now or save it for the future. You can either be poor now or you can be poor later. It makes no difference. Saving money isnu2019t going to make you rich. Like Robert G. Allen said u2013 u201cHow many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.u201c<br><br>Of course, itu2019s not like we should never save our money, saving money is important because the future is uncertain and you donu2019t know when youu2019ll be in need of money. So itu2019s good to have some extra money for those rainy days in the future.
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Saving on its own is kind of futile, you can spend money now or save it for the future. You can either be poor now or you can be poor later. It makes nodifference
Like Robert G. Allen said – “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest mycase.“
Of course, it’s not like we should never save our money, saving money is important because the future is uncertain and you don’t know when you’ll be in need of money. So it’s good to have some extra money for those rainy days in thefuture.
Like I already said saving on its own is never going to make you wealthy, even if you are really good at it unless you have a really high paying job. On the other hand, you can’t really invest if you don’t have any savings to invest. So saving is a necessary part of that equation. The big picture of how this works is that we need to save some money to make an investment and by investing we can grow oursavings. Investment and saving are connected with each other. Doing one without the other makes nosense.
When you hear the word investment you probably think of stocks or bonds. You might have no idea how to get started with that and you may feel that it’s really risky. If you also have less knowledge of it or you are a beginner then you can read our informative blogs to clear all your doubts and it will also guide you about the stock market investment in a betterway.
It’s good to understand that both saving and investing are important but it can be awfully hard to get started, you may have no idea where to invest your money or how much money to thesame.
First of all, you can’t invest without saving so to invest you have to start with saving. You need to start by setting a little bit of money aside every month so you can eventually accumulate enough to actually make a substantialinvestment.
The next thing you have to do right away is to start planning your investment because if you will not plan then you’ll probably put it off definitely, you’ll start procrastinating on it. So you need to make a plan of what you are going to invest in, how much you are going to invest and when you are going to dothat.
Now if you have saved enough money and you know where you’re going to invest in and how much you are going to invest in, you can make thedecision.
Saving and investing are incomplete without each other and they are futile on its own.You cannot become rich just by saving your money in banks, you have to invest it somewhere whether its shares or mutual funds or whatever to increaseit.
According to me the best way for investment is in stocks but for many people the stock market is like a foreign language, they hardly know much about it and they don’t want to risk their money in it. Nobody wants to risk their money in unprofitable stocks which leads to losses. To prevent your money from getting wasted, you can consult a stock market expert advisor who will guide you and help you get maximum return on your investment.
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