Before diving straight into the importance of investing (which many financial blogs have already written about), Seedly would like to take a step back and provide our opinion on which is more important.
If we were to be politically correct, BOTH are as important. But to ensure that you are on the right track, we would like to request that you spend some time understanding your current situation in life.
Here are the pros and cons of both savings and investing:
Savings Investing Goals - Short Term- Cash funds for unplanned or planned expenses - Long Term
- Beat inflation and grow your passive income Pros - Liquidity for urgent uses
- Freedom of choice to spend - Beat 2-3% per year inflation rate
- Can be easy if you do passive investing Cons - Lose out to inflation 2-3%
- Savings account will not grow - More...
