What is the Difference Between Saving and Investing Money?
What is the Difference Between Saving and Investing Money?Answer: It is important to understand the similarities and differences between saving and investing your money. It is also important to be sure that you are doing both within your budget and wealth building plan. Basically saving money is putting money aside on a regular basis. You spend less money than you earn and put the rest into the bank. You should have this be an automatic part of your monthly budget. Investing is taking this a step further. Once you have a good amount saved, you can begin investing money. Investing is the way that you will begin to really grow your money and begin to build wealth. If you keep your savings in a savings account, the amount of interest you will earn will be very small. However if you invest in mutual funds or stocks, your interest rate will be much higher. You will eventually come to the point where your investments make more than you are contributing each month. Your wealth really begins t
